LEAN STARTUP WORKSHOP

Practical ways to turn your idea into a

successful product

WHO ARE WEStuart EcclesCharlotte HillenbrandCath Richardson

Salim Virani

Rob Fitzpatrick

EXPLOITINGDISRUPTIVEINNOVATION

EXPLOITINGDISRUPTIVEINNOVATION

MAKING STUFF

THE LEAN STARTUP MOVEMENT

THE LEAN STARTUP MOVEMENT

• Rapid prototyping to test hypotheses

• Minimum Viable Product (MVP)

• Nail it then scale it

• Customer obsession

• Iterative, metrics-driven & Agile

• Learn fast, don’t fail fast

SCIENTIFIC APPROACH TO

STARTUP/PRODUCT

DEVELOPMENT

ITS ABOUT RUNNING

EXPERIMENTS

BEFORE SCALING TO UNIVERSE

DENTING PROPORTIONS

HOW DO WE KNOW WE ARE MAKING PROGRESS?The unit of success we use is measure in “validated learning”

BREAKING GROUND

ON AN IDEA

HOW DO YOU KNOW IF YOUR

IDEA IS WORTH YOUR

TIME, MONEY, EFFORT?

“We always have a vision that is clearly articulated, big enough to matter & shared by the whole team.

“Our goal is always to discover which aspects of this vision are grounded in reality & adapt those aspects that are not.”

BY TESTING YOUR IDEA ON YOUR POTENTIAL CUSTOMERS YOU WILL

LEARN IF YOU ARE ON TO SOMETHING

DO THEY HAVE THIS

PROBLEM?

WILL THEY PAY YOU FOR YOUR

SOLUTION?

CUSTOMER DEVELOPMENTAn active approach to engaging with users which tests our assumptions

And builds customer intimacy with potential customers

GET OUT OF THE

BUILDING

THIS IS WHAT WE WILL CONCENTRATE ON TODAYBiggest barriers to realising the value of Lean Startup:

Talking to people

Giving over your ideas to examined in broad daylight

BUILDING AN MVP

THE MINIMUM VIABLE PRODUCTThe minimal set of features that solves the problem and provides value

Something that can be measured and tuned

Doesn’t have to have the same form as the final product

EXPERIMENTING AND

OPTIMISING

INNOVATION ACCOUNTINGMeasure what is actionable, track every input and change

Run split experiments to prove your hypothesis on your product

+152%

OPTIMISING THROUGH METRICS AND CUSTOMER INTERVIEWS WORK

IN TANDEM

SKYPE IN THE CLASSROOM

SKYPE CAME TO US WITH A COMMS BRIEFThey’d noticed that teachers all over the world were using Skype in extraordinary ways.

They wanted us to collect these stories and use them to promote the service & inspire other teachers.

WE RESPONDED WITH SOME NON-MARKETING IDEASLayer a new service on top of the basic free communication service

Use a customer-centric and test-driven way of working out what that service would be

OUR INITIAL ASSUMPTIONS WERE THAT IT WAS ALL ABOUT A LESSON PLANNING TOOL WITH EXAMPLES, IDEAS AND TIPS ON INTEGRATING

SKYPE INTO LEARNING

We discovered immediately that their biggest obstacle was actually finding other teachers who also used Skype

They also told us that teachers don’t have time to read lots of lesson plans - video clips would be much more helpful

PROTOTYPESBRAINSTORM SKETCHING

SKETCHES

USE CASES

INTERVIEWSUSER JOURNEY

SERVICE MODELSHIGH FIDELITY DESIGNS

ONLINE SURVEYS

PIVOT OR PERSEVERE

LOCALMAXIMA

AN INTUITIVE LEAP

“Our goal is always to discover which aspects of this vision are grounded in reality & adapt those aspects that are not.”

PIVOT: ONE FOOT STAYS WHILE THE OTHER MOVESIn course correction to a new strategy to test a new fundamental hypothesis

A human decision assisted by metrics and customer intimacy

Should be hard and fast with a new strategy already defined

TYPES OF PIVOT

ZOOM-IN PIVOTWhat was considered a single feature becomes the entire product.

ZOOM-OUT PIVOTWhat was considered the entire product becomes a feature(s) of the new product.

CUSTOMER SEGMENT PIVOTThe product is valuable but not to its intended customers so a new customer segment is defined.

CUSTOMER ZOOM-INCUSTOMER ZOOM-OUT

CUSTOMER NEED PIVOTThe problem solved is not very important, or money isn’t available to buy. This requires repositioning, or a new product, to find a problem worth solving.

PLATFORM PIVOTFrom an application/solution to a platform or vice versa

BUSINESS ARCHITECTURE PIVOTFrom low margin/high volume to high margin/low volume or vice versa

ENGINE OF GROWTH PIVOTStickyViralPaid

WRAP UP

LEAN STARTUP ISN’T THAT HARD

Find a culture of testing, experimenting and iterating.

Make Test Learn

Build an MVP

http://leanca.mphttp://blog.thestartuptoolkit.comhttp://madebymany.com/signals/

the-lean-startup-movement

@crashtherocks@stueccles@saintsal

@ohrworm

@robfitz

LEAN STARTUP MEETING AT

UCL TONIGHT!