For Manly Entrepreneurs Meetup

13th August 2014

1. Why Lean Startup works, and who is it for?

2. What is it and where did it come from?

3. How can you use experiments and business modelling?

4. Where can you learn more?

5. Question and Answer time…

Thursday, 14 August 2014 Page 2DanielRingrose

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• 15 years Business and IT Program Delivery in Europe and Australia

• Passionate about building things people love and use

• Researched the secret sauce from startups that succeed

• Now I help companies shape their ideas by learning from the market

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“A startup is a human institution

designed to deliver a new product or service

under conditions of extreme uncertainty”

- Eric Ries

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A survey of 3,200 startups proved:

• 74% of businesses that failed did so due to premature scaling

• 60% of inconsistent (premature scaling) startups focus on validating a product

• 80% of consistent (controlled scaling) startups focus on discovering a problem

space

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LEARNBUILD

IDEAS

DATA

MEASURE

PRODUCT

PROBLEMTop 3 Problems

SOLUTIONTop 3 Features

KEY METRICSKey activities to

measure

UNIQUE VALUE

PROPOSITIONSingle clear compelling

message that states why you

are different and worth buying

CUSTOMER Target Customers

UNFAIR ADVANTAGECan t be copied

CHANNELSPath to customers

COST STRUCTURECustomer Acquisition Costs, Distribution Costs,

Operations, People, etc

REVENUE STREAMSRevenue Model, Lifetime Value, Gross Margin

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2.5% 13.5% 34% 16%34%

Early Adopers

InnovatorsEarly

MajorityLate

MajorityLaggards

Customer Discovery

Customer Validation

Customer Creation

Company Building

STARTUP GROWTH SCALE MATURITY

Search for Problem & Solution Fit

Search for Product & Market Fit

Market Disrupted

DECLINE

Transition

Find these customers

Rogers Innovation Adoption Curve

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WATERFALL INVENTION

AGILE

Solution Feature Value Verified

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Solution Feature Value Assumed

PLAN LAUNCHDESIGN BUILD TEST

PLAN LAUNCH

DESIGN BUILD

TEST

IDEA COMMERCIALIZE

THEORYTEST

LEARN

DESIGN BUILD

TEST

THEORYTEST

LEARNRepeat

LEAN STARTUP

IDEA SCALE

Repeat

Repeat

$ $

$ $

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PART 2

1

2

3

4

Problem worth solving?

Solution that solves problem?

Enough people willing to pay?

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VALUE PROPOSITION CANVAS

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LEARNBUILD

IDEAS

DATA

MEASURE

PRODUCT

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Google is your friend. Blogs are bountiful

Lean Startup Sydney meetup group

Contact me for help finding training courses,

and I’ll confirm with companies like Pollenizer

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5 Sep 6pm – Trevor Owens meets Sydney entrepreneurs

5-7 Sep – LSM for Entrepreneurs Competitive Weekend

Early bird tickets still available at $249

https://www.leanstartupmachine.com/cities/sydney

4-5 Sep – Corporate LSM Workshop Training with Trevor Owens

Corporate Team ticket $6000 for 5 people - www.vivant.com.au/lsm

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28 Oct – Ash Maurya meets Sydney entrepreneurs

29-30 Oct – Running Lean Workshop by Ash Maurya

Tickets $997 for entrepreneurs, $1997 for corporates

https://www.eventbrite.com/e/running-lean-workshop-sydney-tickets-12210681477

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daniel@danielringrose.com

linkedin.com/in/danielringrose/

@danielringrose