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This presentation consists of highlights from the interview with Moe Abdou,

founder & host of 33voices®.

ASH MAURYA is the creator of the one-page busi ness modeling tool Lean Canvas and the author of Running Lean. He regularly hosts sold-out workshops around the world, serves as a mentor to several accel erators, including TechStars, Accelerace,

and Slingshot, and guest lectures at several universities, including MIT, Harvard, and the University of Texas, Austin. He serves on the advisory board of a number of

startups, consults for new and established companies, and con tributes to leading business publications and websites. He lives in Austin, Texas.

Ash Maurya@ashmaurya

Creator of Lean Canvas

A successful entrepreneur doesn’t just look for a great solution or an innovative piece of technology; rather she seeks a repeatable process where her solution

connects with paying customers. Iin other words, a working business model.

Insight #1

Insight #2

To measure progress, opt not to rely on revenue, as it tends to have a longer customer

life-cycle; instead pay attention to traction. The rate at which a business model captures

monetizable value for its users.

Created Value > Captured Value >= Cost (Value Delivery)

Insight #3

If your business model doesn’t work on paper, you’ll be hard-pressed to make it work in the

real world. Use these three guidelines to determine your minimum success criteria:

Insight #3

If your business model doesn’t work on paper, you’ll be hard-pressed to make it work in the

real world. Use these three guidelines to determine your minimum success criteria:

Keep your time box under three years

Insight #3

If your business model doesn’t work on paper, you’ll be hard-pressed to make it work in the

real world. Use these three guidelines to determine your minimum success criteria:

Frame the outcome in terms of a revenue goal

Insight #3

If your business model doesn’t work on paper, you’ll be hard-pressed to make it work in the

real world. Use these three guidelines to determine your minimum success criteria:

Remember that the goal is a rough ballpark

Insight #4

At the earliest stages, entrepreneurs need deceleration, not acceleration. Slow down and

make repeatability and predictability a precondition for growth.

Insight #5

The singularity moment of a product is not when you write your first line of code,

or raise your first round of funding; it’s when you create your first customer.

All metrics are people first.

Insight #6

Use this customer factoryblueprint to deconstruct traction

into these five components:

Insight #6

Use this customer factoryblueprint to deconstruct traction

into these five components:

Acquisition - This is the job of your offer

Insight #6

Use this customer factoryblueprint to deconstruct traction

into these five components:

Activation - This is where you connect your promise with the first user experience

Insight #6

Use this customer factoryblueprint to deconstruct traction

into these five components:

Retention - This is the time your customer spends inside your business

Insight #6

Use this customer factoryblueprint to deconstruct traction

into these five components:

Revenue - This measures all the monetizable value captured from your users

Insight #6

Use this customer factoryblueprint to deconstruct traction

into these five components:

Referral - This is when your happy users share their experiences with others

Insight #7

The three attributes to running an effective experiment are speed, customer

learning, and focus - Make your experiments part of the process of building a repeatable and scalable business model by following

these three steps:

Insight #7

The three attributes to running an effective experiment are speed, customer

learning, and focus - Make your experiments part of the process of building a repeatable and scalable business model by following

these three steps:

Use your models to expose constraints

Insight #7

The three attributes to running an effective experiment are speed, customer

learning, and focus - Make your experiments part of the process of building a repeatable and scalable business model by following

these three steps:

Formulate ideas for breaking constraints

Insight #7

The three attributes to running an effective experiment are speed, customer

learning, and focus - Make your experiments part of the process of building a repeatable and scalable business model by following

these three steps:

Test your ideas through continual experiments using the Build/Measure/Cycle

Insight #8

A single experiment can never completely validate a strategy, but it can completely

invalidate it. Guard against your cognitive biases by following these seven steps:

Insight #8

A single experiment can never completely validate a strategy, but it can completely

invalidate it. Guard against your cognitive biases by following these seven steps:

Declare your expected outcomes up front

Insight #8

A single experiment can never completely validate a strategy, but it can completely

invalidate it. Guard against your cognitive biases by following these seven steps:

Make declaring outcomes a team sport

Insight #8

A single experiment can never completely validate a strategy, but it can completely

invalidate it. Guard against your cognitive biases by following these seven steps:

Emphasize estimation, not precision

Insight #8

A single experiment can never completely validate a strategy, but it can completely

invalidate it. Guard against your cognitive biases by following these seven steps:

Measure actions versus words

Insight #8

A single experiment can never completely validate a strategy, but it can completely

invalidate it. Guard against your cognitive biases by following these seven steps:

Turn your assumptions into falsifiable hypotheses

Insight #8

A single experiment can never completely validate a strategy, but it can completely

invalidate it. Guard against your cognitive biases by following these seven steps:

Time box your experiments

Insight #8

A single experiment can never completely validate a strategy, but it can completely

invalidate it. Guard against your cognitive biases by following these seven steps:

Always use a control group

Insight #9

Breakthrough insights are often hidden within failed experiments - Remember that there is no such thing as a failed experiment, only experiments with unexpected outcomes.

Insight #10

To advance your business model and break through constraints, get familiar with running LEAN Sprints:

Insight #10

To advance your business model and break through constraints, get familiar with running LEAN Sprints:

Expose Problems - work with your team to identify business model constraints

Insight #10

To advance your business model and break through constraints, get familiar with running LEAN Sprints:

Define Solutions - leverage individual ideas to generate potential solutions

Insight #10

To advance your business model and break through constraints, get familiar with running LEAN Sprints:

Short-list Solutions - rank and selectthe best strategies

Insight #10

To advance your business model and break through constraints, get familiar with running LEAN Sprints:

Test Solutions - Test the strategies with experiments

Insight #10

To advance your business model and break through constraints, get familiar with running LEAN Sprints:

Decide on Solutions - Decide next actions

ReflectWhen experiments don’t work, what do you do?

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Presentation by Chase Jennings

Insights by Jenna Abdou

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