Post on 22-Jan-2018
FAIL FAST, FAIL CHEAP,
FAIL OFTEN
What can we learn from the lean startup movement?
Frank Wolfram, CTO EMEA Geometry Global
Management!is only !100 years old.
Make high quality products as efficient as possible.
What makes a company successful in the digital age?
THE DIGITAL AGE
Retail
Music industry
Hotels
Taxis
Disruptive innovation
BUT TODAY MOST COMPANIES ARE RUN TO MINIMIZE RISK,
A startup is a human institution
designed to deliver a new product or
service under conditions of extreme
uncertainty.
What is a startup?
of all mobile apps don’t earn any money. 90%
80%
4 out of 5
of all new products are failing.
startups just burn their investors money.
identify the riskiest parts of your business plan,
then finds ways to reduce those risks in a quick,
iterative cycle of learning.
Lean Startup
Viable Minimum
Products
The minimum viable product (MVP)
The vision No value
Enough features to gather customer feedback
The waste
THE PALM PILOT PRETOTYPE
MEASURE
BUILD LEARN IDEAS
CODE DATA
Minimise the total time through
the loop
The build-measure learn feedback loop
The Lean Startup teaches us
§ How to think big but start small in order to be less wasteful
§ That failing fast can be a good thing
§ That data beats opinions
§ That the risk of failing can be managed by doing
Summary
LET’S INNOVATE!
frank.wolfram@geometry.com