Lean Startup Principlesaka. what old, rich founders say about Lean Startup.

a Founder-Centric module.

Do not open the kit until I say GO!Build the tallest freestanding structure.The entire marshmallow must be on the very top.

You’ll have 18 minutes. Use as much or as little of the kit contents as you want, but nothing else!

EXERCISE

“I wish I knew that sooner.”

Our job is to bring ourselves the bad news sooner.

Care too much about their ideas, and look for certainty in process.

1st timers

Care more about opportunity cost,and look for certainty in evidence.

Experienced founders

Build

Learn

Measure

Principles,not process.

PrinciplesIterationDo LessImprove the big pictureLearn, then confirmCourse-correction

Agency5 startupsLeancampFounder-Centric

Salim Virani@saintsalwww.saintsal.com

Our learning goals today.

POST UP

Do less.

Don’t work hard to mask your inefficiency.

Not enough time?Not enough money?

Grow with efficiency.

How to Do Less.Multiplying deliberately. Letting go.Limiting work-in-progress.Time limits.Being picky about customers.

0101001,00010,000100,0001,000,00010,000,000

Add a zero

Good for vision, inventing and improving.

Bad for getting stuck on specifics that don’t work.

Tenacity

WIP Yourself!

Inside the building -Use a timer.

DISCUSSION

Choose your customer.

Lack of direction.

Vague customer definitions.

Multiple customer definitions.

Is this conversation useful?

Specific customer definitions help find them quickly, and point out scalable channels to reach them.

Specific value propositions are more compelling and help you get early traction.

Zoom in!

EarlyvangelistsHave the problem

Know they have the problem!Have budget to solve it.

Have looked for a solution.Have tried to build a solution.

EXERCISE

Jobs Obstacles Goals Current Solution

Customer Slicing

Decision Trigger

Interest Trigger

?

Seeing the big picture.

Growth EnginesBusiness Model Design7 Domains

Big Picture Lenses

7 ways to die.Choose none.

IndustryMarket

Macro

Micro

Trends

Connections

Alignment Skills

Establishment

Customer Need & Behaviour

Lock-in & copyability Modified from 7 Domains,

From The New Business Road Test, by John Mullins

Will we stay aligned?

Team - Alignment

Decision Hack:Map the overlap between your goals.

Goal FitNarrow down the options to find matches.Fit comes from elimination, not selection.

Individually, write possible 3-year goals for your company.

Goal FitEXERCISE

Hand off the goals to your partners.

Goal FitEXERCISE

If any of the goals don’t work for you, explain the trade-off for you on the back of the card.

Goal FitEXERCISE

SizeLengthRoleControlAffordable Loss

Risk Tolerance

Individually, what are the company milestones for the next year? Goals? Walk-away conditions?

One per card. Include dates.

Risk ToleranceEXERCISE

As a group, create a single timeline out of all the cards.

Star any that don’t feel right or don’t fit for discussion at the pub tonight.

Risk ToleranceEXERCISE

Do we have the connections?

Team - Skills

IndustryMarketDomain expertiseChannel

Team Connections

IndustryMarketDomain expertiseChannel

Who do you need?

EXERCISE

Are there any you can’t get on the phone in 48 hours?Email Emerge now.

EXERCISE

Decision Hack:Plant a flag.

Decision Hack:Go there and help.

EXERCISE

Core Skills

EXERCISE

Core SkillsWhat skills, if weak, can kill your business?What skills, if strong, can give you disproportionate advanges?

Are wecapable?

Team - Skills

Decision Hack:Choose goals based on what you have.

What I can do

What I’vegot

Small partnerships.

Affordable Loss.

Growth Engines

StickyPaid AcquisitionViral

Understanding growth

Growth Engines,from The Lean Startup by Eric Ries

DISCUSSION

Business Model Design

Good for vision, inventing and improving.

Bad for getting stuck on specifics that don’t work.

Tenacity

Mass customisation

Value-basedpricing

App sale +in-app purchase Subscription

Transactional

Multi-sidedmarket

Licensing

CrowdsourceAd-supported

Event-supported

SaaS

Bundling

Viral

Direct-over-viral

Purchase-timing

2 stages of learning

Learn Confirm

2 stages of learning

Ask Sell

2 stages of learning

Observe Experiment

Does anyone

care at all?

Do we understand

the industry?

Does anyone

care at all?

Do we understand

the industry?

Will any pay for it?

Are we building the

right product?

2 stages of learning

Learn Confirm

What can spies teach us about Customer Development?

2 stages of learning

Collect Analyse

2 stages of learning

Learn Confirm

Where is the love?

Course-correction

“I wish I knew that sooner.”

Building with a heartbeat.

Build

Learn

Measure

Minimum ViableWhat is the minimum thing I need to build

to prove or disprove this?

Pick a learning goalWhat big make-or-break risks or idea is the one you want to nail down this week?

(Hint: use the Canvas or metrics to make sure it’s relevant.)

EXERCISE

Start with your learning goal.

Pick a learning goal.Pick a measurement.Draw your MVP on a blank sheet.

Build

Learn

Measure

PrinciplesIterationDo LessImprove the big pictureLearn, then confirmCourse-correction

Build

Learn

Measure

Make it your own.

Thanks!

Slicing off segmentsThey are real people (not attributes!)

It’s clear where to find them.You’ll walk away if they aren’t a good fit.

EXERCISE

Specific definitions allow for validation or invalidation.

And that speeds progress.

Take a look at the customers’ worldLooking at different aspects of their lives, we’ll examine our own beliefs about them, who they are – and if they really exist, how to frame our value in their context.

Product Market

Behaviour Customer

Jobs Obstacles Goals Current Solution

Customer Slicing

Decision Trigger

Interest Trigger

How deep do you go?They are real people (not attributes!)It’s clear where to find them.You’ll walk away if they aren’t a good fit.

EXERCISE

?