Miami Lean Startup Circle Meetup 10-29-2014 - Tom Ordonez

STOP WASTING TIME AND MONEY

Miami Lean Startup Circle

http://LeanStartupMiami.com

http://LeanStartupMiami.com

http://leanstartupmiami.com

TOM ORDONEZ

http://startcreatus.com!http://tomordonez.com

Business developer with experience in lean startup, customer development, product development, offline marketing, online marketing, software development and recruiting.!• Attended 20+ trade shows!• Introduced 100+ products in the Latin American market!• $1M+ sales record!• Organized 2 software development workshops: http://coderetreatmiami.com!• Organized the first hackathon on a train: http://youtu.be/I1Dz1w982_c!• Event organizer of Miami Lean Startup Circle


http://startcreatus.com

http://tomordonez.com

http://coderetreatmiami.com

http://youtu.be/I1Dz1w982_c


What is the Miami Lean Startup Circle?



Miami Lean Startup Circle Meetup❖ Andrej Kostresevic: Organizer of Android South Florida and

Miami Lean Startup Circle!

❖ Founder of New Frontier Nomads “Your Lean Mobile Cofounders”!

❖ Miami Startup Digest curator!

❖ 15 years of mobile and web dev experience!

❖ Has developed apps that have over 10M downloads!

❖ http://newfrontiernomads.com


http://newfrontiernomads.com


The Lean Startup

❖ A methodology for developing businesses and products!

❖ Developed by Eric Ries!

❖ Applicable to any business or product!

❖ Lessons learned from wasting a lot of time and money



Who Likes To Waste Time?If he wastes time he gets!

pissed off



Who Likes To Waste Money?

He will tear your eyeballs out and…you know the rest!right?



What is a Circle?

❖ Circle of Lean!

❖ Community!

❖ Help each other!

❖ Support each other!

❖ Teach each other



What is a Lean Startup Circle?

LEAN!Problem/Solution!

Lean Canvas!Customer Development!

Product Interviews!Agile Development!

Iterate Fast!Metrics

NOT LEAN

The Lean Startup Circle is a worldwide community: http://leanstartupcircle.com


http://leanstartupcircle.com


Not Lean = Bacon❖ Bacon is yummy yum yum!

❖ Doing logos is bacon!

❖ Designing landing pages = bacon!

❖ Coding is bacon!

❖ Tweeting bacon!

❖ Sending surveys bacon!

❖ Building is bacon!

❖ Eating only bacon is bad for you



NOT The Lean Way

❖ People won’t buy your product cause:!

❖ You have a nice logo!

❖ You have a beautiful landing page/website!

❖ You have a lot of twitter followers!

❖ You write beautiful code



Let’s learn some Lean Startup Right Now!



Build a Lean Canvas



Tips to Complete a Lean Canvas❖ Complete from top to bottom, from left to right!

❖ Don’t get stuck in the terminology:!

❖ Lean canvas: Call it Smart Plan, Awesome Plan or whatever name you want!

❖ Unfair advantage: A lean canvas has this, which is the same as the more common name “Competitive Advantage”!

❖ UVP aka Unique Value Proposition: This is an elevator pitch!

❖ Complete the 1st draft in 1 hour of brainstorming!

❖ Don’t spend time googling stuff!

❖ These are all assumptions based on your know-how!

❖ This is not a business plan



Tools to Build a Lean Canvas•Use anything!•Word, excel!•No need to buy

software!•Just use your

brain

THIS IS A SIMPLE EXCEL TEMPLATE



Lean Canvas Template❖ You could also do a lean canvas template like this one. It is easier if

you are doing it in Excel or Word and don’t want to merge cells, which could become a mess.

Problem

Solution

Existing Alternatives

Customer Segments

Early Adopters

Channels to Customers

Competitive Advantage

Unique Value Proposition!What is it called:!For Who is It?!Why should they careCost Structure

Revenue Streams

Key Metrics



Lean Canvas for Drone Idea❖ During our last Miami Lean Startup Circle meetup (Oct

2014) at Venture Hive there were 3 ideas. People voted on this one. Nobody had a preconception of this idea or realized that it is a well funded startup.!

❖ Idea: Drones for Aerial Pictures of Real Estate



Lean Canvas: 1. Problems

❖ Drones for real estate aerial pictures!

❖ Let’s identify the Top 3 Problems!

❖ 1. Expensive to hire a helicopter!

❖ 2. Short supply of aerial photography!

❖ 3. Long time to book helicopter to take pictures



Lean Canvas: 2. Solutions

❖ Let’s identify 3 possible solutions!

❖ 1. Get a drone, google maps, helium balloon with camera. Get topographic maps. Go to the next building.!

❖ 2. Get a drawing.!

❖ 3. Take it yourself with a camera



Lean Canvas: 3. UVP Example

❖ What the Unique Value Proposition?!

❖ What is it?!

❖ For Who?!

❖ And Why?!

❖ Twitter - Share short messages with your friends!

❖ >>Let the world know that you exist



Lean Canvas: 3. UVP Drone Idea

❖ What is our UVP?!

❖ What: DroneRealEstate - Aerial Pictures!

❖ Who: For real estate agents!

❖ Why: Market your properties with style



Lean Canvas: 4. Customer Segments

❖ Let’s think of all possible users that will use the product:!

❖ 1. Real estate agents!

❖ 2. Developers!

❖ 3. Buyers!

❖ 4. Sellers of the properties!

❖ 5. City of Miami, Appraisers, Insurance, Adjuster



Lean Canvas 5. Channels

❖ How are we getting to these customers?!

❖ Channel 1: Advertisement with the same drone!

❖ Ch2: Online marketing!

❖ Ch3: Sales people in business suits!

❖ Ch4: Word of mouth, trade shows.!

❖ What is the best channel?



Lean Canvas: 6. Cost Structure

❖ First iteration: 3-month plan!

❖ What costs are involved to build a 3-month runway!

❖ Customer Development: 1 month $10K!

❖ Customer acquisition: 1 month $10K !

❖ Product Development: $8K 1 drone.!

❖ What else? Marketing, Lawyers, $10K



Lean Canvas 7. Revenue Stream

❖ So…how are we going to make money?!

❖ Stream 1: $2K for 10 pictures!

❖ Stream 2: Ads on the drone $500/day!

❖ Stream 3: Stock pics $100/pic!

❖ Which stream will they pay?



Lean Canvas: 8. Competitive Advantage

❖ What do you have they don’t have? Do you have some super secret formula?!

❖ 1. First to market for real estate!

❖ 2. An AI drone takes best pictures!

❖ 3. Same day results!

❖ 4. Pricing!

❖ Also, get a List of competitors and do a SWOT for each



Lean Canvas: 9. Metrics❖ How do we measure we are doing things lean?!

❖ Vanity Metrics aka False Metrics:!

❖ 1. Number of pageviews!

❖ 2. Number of surveys completed.!

❖ 3. Mixed signals!

❖ A good metric: Number of people that registered through Revenue Stream 1



Contact: Tom Ordonezhttp://startcreatus.com!http://tomordonez.com!https://twitter.com/tomordonez!http://www.linkedin.com/in/tomordonez/


http://startcreatus.com

http://tomordonez.com

https://twitter.com/tomordonez

http://www.linkedin.com/in/tomordonez/

Technology

Miami Lean Startup Circle Meetup 10-29-2014 - Tom Ordonez