Entrepreneurship Northwest - Accelerating ideas into reality - Open 2011
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Transcript of Entrepreneurship Northwest - Accelerating ideas into reality - Open 2011
Bildungs-Brandstifter: A Primer
• Incendario educativo?• Pyromane éducation
• Yeats? Plutarch?• Hudnut!
Obligatory title slide ;)
Accelerating Ideas into Reality:The most (?) important lessons of the
“lean startup phenomenon
Norris Krueger, PhD, B-B.Entrepreneurship NorthwestExternal Fellow, Max Planck Institute
Action into Thought?
• Two key objectives in this short window–#1: If learning is cognitive change,
what exactly does that mean? And how does it happen? How can we accelerate it?
–#2: A primer on the Lean Startup Cult, er, Model & how it encourages entrepreneurial thinking
Moving from novice toward expert
• Intent... or Informed Intent• Incremental versus Transformational
• So how do we do it?
Key Tenets of Transformative Learning
• Book Throwing– Constructivist versus Behaviorist
• Neuro-entrepreneurship?*– Neuroplasticity– Emotions– Deep beliefs (Neo, take the...)
• Centrality of Action * http://www.slideshare.net/norriskrueger/icsb-2010-
neuroentrepreneurship
Accelerating Learning
• Problem-Based Learning (“authentic” questions)
• Two overlapping themes -we have heard much about this conference!
• IMMERSION – Action before thinking• MENTORING – Learn the right lessons
– Expert mentors– Peer mentors
LEAN Startups: a primer
LLearnEEntrepreneurial
AAgilityNNow!
the “Lean” movement
• … just a few key names:• Eric Ries • Steve Blank • Dave McClure and other cool cats
• …BUT… Is this really that new?• Isn’t this what smart entrepreneurs ALREADY
do? How smart entrepreneurs ALREADY think?
What is a “Startup”..really?
• A startup is simply the vehicle for figuring out a sustainable, repeatable, scalable business model
• This is no time for a business plan… takes very different planning (and thinking)
• Finding your Scalable Business Model:– Test each critical assumption in your model– Measure (qual & quant) ruthlessly– “Pivot” quickly– Iterate
A few quick thoughts…• “Lean” doesn’t mean cheap.. It means FAST• “Lean” could just as easily be called “Learn”!
WHEN to be Lean?• Extreme uncertainty• Significant ambiguity (Type III errors)• Startups – scalable startups• Social / Sustainable / BOTP• New Product Development
The Process
• from Steve Blank: The search (SBM) we can call “Customer Development”
• Implementing SBM = “Agile Development”
Minimize TOTAL time through the loop
LEARN BUILD
MEASURE
IDEAS
CODEDATA
Source: Eric Ries, The Lean Startup
Build Measure Learn
• BUILD: Identify & Test• Minimum Feature Set• Minimum Viable Product (MVP)
• MEASURE: • Find out what customers love… and especially hate
(Kathy Sierra vs Dave McClure)
• LISTEN! (to your metrics & your customers)• LEARN:
• Pivot quickly & decisively
• “Failing fast” is also a misnomer – “fail FORWARD” which means…
• Better your assumptions fail… than your biz
• Disrupts the “Inventor Mentality” -forces attention on Value
(benefits>>features)
• Build Test/Measure Learn (L,R,R)
Get Out of the *%^$#@ Building!
What’s a Business Model?
• Three key questions to answer – identify all key assumptions for each:
– 1) Value Proposition
– 2) Value Delivery
– 3) Value Capture
Implications for us?
• “Lean” epitomizes entrepreneurial mindset [Entrepreneurial thinking opposite of BT:
Assume & embrace uncertainty & ambiguity!]
• Mindset focuses on:–Benefits, not features… (not ‘inventors syndrome’)
–Value proposition & value delivery co-evolve–Customer, et al. as true partner
• Iterative, Co-Evolving Process–Not exactly a stage-gate (eg, early Goldsmith)–BUT... WAIT! (expert mentoring)
More implications…
• New insights into expert entrepreneurial mindset (needed by mentors, ecosytem)
• Experiential = Essential (>>hands-on)• Problem-Based Learning• Incubating Immersion
– Startup Weekend– AND????
Counseling Mentoring– TechStars, Accelerators (Y-Combinator)
Still more implications…
• Why business plan contests underachieve..
• Biz MODEL competition (Nathan Furr, BYU)
• UT-Austin's Idea to Product – national & global [www.IdeaToProduct.org]
Celebrate & Educate!
for more info…The 'Lean' Gurus & Key Links:• Eric Ries (@ericries, www.startuplessonslearned.com)• Steve Blank (@sgblank, www.steveblank.com)• Alex Osterwalder (@business_design)
WATCH ME!! http://goo.gl/DyqRv
• www.StartupWeekend.org• www.TechStars.org• Www.gewusa.org; www.unleashingideas.org• Www.ideatoproduct.org (Idea to Product)
for more info… Key Dates?
Lean: May 23, 2011 – SLL 2011 (likely simulcast)
Www.sllconf.org [tons of slides & videos)
+ BYU's contest (early 2012?)
SW: Startup Weekends
I2P: (Steve?)
GEW: Mid/late November 2012
Or... just ping me
Norris Krueger (@entrep_thinking,
Get Out of the *%^$#@ Building!• Form pairs• Group into sets of four pairs, numbered 1-4.• #1 is the Brilliant Entrepreneur• #2-##14 are Demanding Customers/Clients• #1 specifies a product/service then makes
plausible assumption in each category then...• In turn, asks #2, #3, #4 for feedback• “Customers” give plausible but DISconfirming
feedback• #1 pivots