Intro lecture 'Innoveren als Startup' door Henry Robben

!!!!Intro!lecture!Course!‘Innoveren!als!Startup’!start!29mei!–!Henry!Robben!!!

!Innoveren!als!Startup!!!@henryrobben!!!#LeanStartup!!!@crowdale_edu!!!!!

Agenda!

•  IntroducEe!!•  Course!�Innoveren!als!Startup�!!•  Lecture!Prof.dr.Henry!Robben:!

!!!!The!Lean!Startup!

•  Crowdale.com!!

•  Survey!

IntroducEe!!

Wat!zie!je?!

• Slides!• Video!• Deelnemers!&!hoofdstukken!

• Chatvenster!/!vragen!stellen!• Moderators!

• Tickertape!• Polls!!

Poll!#1:!Deelname!

a. !1e!keer!

b. !2V5!keer!

c. !6V10!keer!!!

d. !10+!

Hoe!vaak!heb!je!al!aan!een!webinar!deelgenomen!

in!het!kader!van!een!opleiding!of!course?!

• !4x!live!webinars!van!1,5uur!in!5!weken!• !Wekelijks!assigments!&!onderlinge!discussie!

• !Boek!The$Lean$Startup!–!Eric!Ries!• !Boek!I’m$hungry$–!Hendriks!&!De!Zeeuw!• !Kosten!bedragen!€595,V!

Woensdag$29$mei$Ontwikkel!je!visie!

Woensdag$5$juni$RichEng!Pivot!

Woensdag$3$juli$GoVtoVmarket!

Woensdag$19$juni$Versnellen!&!Innoveren!

Course!�Innoveren!als!Startup�!

Who!is!…!!Henry!Robben!

You can’t hide your problems…

Poll!#2:!Entrepeneur!

a. !Nee,!en!ik!zou!het!ook!niet!willen.!

b. !Nee,!maar!ik!zou!het!graag!proberen.!

c. !Ja,!maar!ik!heb!nog!geen!eigen!onderneming.!

d. !Ja!en!ik!heb!mijn!eigen!bedrijf.!

Beschouw)jij)jezelf)als)een)ondernemer?)

The$Lean$Startup

Innovating$Smarter$Successfully

Main$messages

Assumptions$are$the$mother$of$all$f*ck$ups Yet,%every%business%plan%is%full%of%them!

Ask$yourself$the$right$questions Test%your%assumptions

Lean$innovation$is$about$learning What%is%that%you%need%to%know?

Three$Parts

VISION STEER ACCELERATE

Three$Parts

VISION

STEER

ACCELERATE

Three$Parts

VISION

STEER

ACCELERATE

start$E$deGine$E$learn$E$experiment

Three$Parts

VISION

STEER

ACCELERATE


leap$E$test$E$measure$E$pivot$or$persevere

Three$Parts

VISION

STEER

ACCELERATE


leap$E$test$E$measure$E$pivot$or$persevere

batch$E$grow$E$adapt$E$innovate

Startups$need$a$VISION

What$do$you$want$to$achieve?

Craft%a%strategy%to%get%there

The%result%will%be%your%offering

accelerate - steer - VISION

Why$do$so$many$startups$fail?

They$are$managed$by$corporate$management$principles

Uncertainty%about%market%conditions%and%customers

Achieve%failure%by%executing%a%Blawed%plan

vision: start

Poll!#3:!Startup!

a. !Nee,!nog!nooit!en!daar!ben!ik!heel!blij!mee.!

b. !Nee,!maar!het!lijkt!me!fantasEsch.!

c. !!Ja,!maar!ik!heb!er!spijt!van.!

d. !Ja,!en!ik!zou!niet!meer!anders!willen.!

Ben)je)weleens)betrokken)geweest)bij)een)startup?)

Some$deGinitions

Entrepreneur The%whole%ecosystem

Startup A%human%institution%designed%to%create%a%new%offering%under%conditions%of%severy%uncertainty

Lean$innovation$is$about$learning What%is%that%you%need%to%know?vision: define

Some$deGinitions




*

* Size,%industry,%type,%development%stage%do%not%matter

vision: define

Some$deGinitions




*

* Size,%industry,%type,%development%stage%do%not%matter

vision: define

* *

* * So%this%means%YOU%and%YOUR%company!

The$innovator’s$dilemma

Sustaining$innovation

Disruptive$innovation

*

* Christensen

vision: define




incremental%improvements

*

* Christensen

vision: define




incremental%improvements

breakthrough,%sustainable

*

* Christensen

vision: define

vision: learn

Learning$is$the$unit$of$analysis

An$old$misconception:$efGiciency$over$effectiveness

What%if%you%built%something%that%nobody%wanted?

“In%desperation,%we%talked%to%some%potential%customers…%to%Bind%that%our%mental%model%was%years%out%of%date.”

“Everyone%has%a%plan%'till%they%get%punched%in%

the%mouth.”

Mike%Tyson

What$if$these$

morons$do$not$see$

the$brilliance$of$

your$strategy?

Value$is$providing$

beneGit$for$the$

customer

learn

when$do$we$create$value$vs.$waste?

validated learning

now$we$know!

vision: experiment

If$you$cannot$fail,$you$cannot$learn

How$to$know$what$you$need$to$know$instead$of$relying$on$assumptions

Testing%hypotheses!

The%value%hypothesis Does$the$offering$

deliver$value$to$

the$customer?

The%growth%hypothesisHow$will$new$

customers$

discover$the$new$

offering?

vision: experiment


How$to$know$what$you$need$to$know$instead$of$relying$on$assumptions

Testing%hypotheses!

The%value%hypothesis Does$the$offering$

deliver$value$to$

the$customer?

The%growth%hypothesisHow$will$new$

customers$

discover$the$new$

offering?

*

*break$your$vision$down$into$components.

So$now$it’s$time$to$write$your$Grand4Vision


So$with$whom?

(Why?)

techies visionaries pragmatists conservatives sceptics

So$with$what?

(Why?)

Minimum$Viable$Product

congierce$or$VIP$treatment

what$do$customers$do?

vision: experiment


About$your$idea:

Do%customer%recognize%the%problem%you%are%trying%to%solve?

If%there%was%a%solution,%would%they%buy%it?

Would%they%buy%it%from%you?

Can%you%build%a%solution%for%that%problem?

“Success%is%not%delivering%a%feature;%success%is%learning%how%to%solve%the%customer’s%

problem.”

“Markets%change%all%the%time%and%our%job%is%to%change%with%them.”

vision: experiment

Startups$need$to$STEERaccelerate - STEER - vision

Build$E$Measure$E$Learn$feedback$loop

accelerate - STEER - vision

LearnBuild

Measure

data

ideas

product

The%goal%is%to%minimize%the%total%time%through%

the%loop

Test$the$riskiest$

hypotheses:$leapE

ofEfaith$

assumptions

Build$the$MVP

Innovation$accounting

steer: leap

Genchi$gembutsu

Do$you$create$value?

Do$you$understand$your$company’s$growth?

Is$there$a$signiGicant$problem$worth$

solving?

Why$do$you$grow?$Success$theater?

Get%out%of%the%building.

The%customer%archetype

steer: test

The$minimum$viable$product

The$fastest$way$to$get$through$the$BuildEMeasureELearn$loop

The$goal$of$the$MVP$is$start$the$process$of$learning

You%want%to%test%fundamental%business%hypotheses!

Get%rid%of%any%implicit%assumptions!

With$whom?

It$is$not$perfect,$

not$Ginished,$not$

polished

Advantage$of$

being$the$Girst

Creating$a$

competitive$

advantage

Be%clear%upfront:%Do%not%give%up%hope!

steer: test


Video Congierce$/$VIP Wizard$of$Oz

steer: test


If%we%do%not%know%who%the%customer%is,%we%do%not%know%what%quality%is.

The$idea$is$that$you$must$focus$on$creating$outcomes$that$the$

customer$perceives$as$valuable.

Set%aside%your%pride%and%theatrics.

Customers%don’t%care:%“Does%it%serve%my%needs?”

Remember:What%do%need%to%learn?

Legal%issues!%Competitors!%Branding!%

Have%your%“reality%distortion%Bield”%torn%down.

The$only$way$to$

win$is$to$learn$

faster$than$

anyone$else.

steer: measure

Oh$yes,$you$need$to$measure$stuff!

Accounting$is$key.$But$not$standard$accounting.

The%unpredictability%of%forecasts%and%milestones%for%startups.%

Are$you$making$

your$product$

better?

How$do$you$get$to$

know$that?

Build$an$MVP$to$establish$a$baseline$on$real$data

Tune$toward$the$ideal

Decision:$Pivot$or$perserve

Is%there%any%interest?Can%you%change%customer%behavior?

Is%there%any%progress?

steer: measure

Innovation$Accounting

Are$you$making$your$offering$better?

Cohort%analysis How$do$different$customer$groups$develop$over$time?

Registered,%did%not%log%in

Logged%in

Had%one%conversation

Had%more%conversations

Paid

Vanity met!cs

Actionable metrics

clear$cause$and$effect simple,$accesscredible

actionable

accessible

auditable

steer: pivot or persevere

The$$64,000$question...

A$structured$course$correction$designed$to$test$a$new$

fundamental$hypothesis$about$the$product,$strategy,$

and$engine$of$growth.

The%alternative%is%to%get%stuck%in%the%land%of%the%

living%dead

Initial MVP After optimization After optimization

Registration 5% 17% 17%

Activation 17% 90% 90%

Retention too low 5% 8%

Referral too low 4% 6%


Which$way$to$pivot?

Before pivotAfter zoom-in

pivotAfter platform

pivot

Engine of growth

Sticky Paid Viral

Registration rate

17% 42% 51%

Activation 90% 83% 92%

Retention 8% 21% 28%

Referral 6% 54% 64%

Revenue n/a 1% 11%

LTV n/a minimal $0.2 / message

There$are$several$ways$to$pivot.$But$you$need$to$keep$measuring!

@2gov

8$months

4$months

3$months

1$months


When$to$pivot?

Decreasing$effectiveness$of$offering$experiments.

General$feeling$that$NPD$should$be$more$productive.$

You$need$these$to$

pivot!

Diminishing$returns.

Poll!#4:!InnovaEe!binnen!je!organisaEe!

a. !Makkelijk,!want!het!wordt!aangemoedigd.!

b. !Geen!onderwerp!dat!op!de!agenda!staat.!!c. !Onmogelijk!

d.!Geen!van!de!eerdere!drie!antwoorden!

Innova<e)binnen)mijn)organisa<e)is)…)


Crossing$the$chasm

techies visionaries pragmatists conservatives sceptics

80%$Ginished$is$okay! The$offering$should$be$100%!

Selling$your$offering$big$time.$Time$to$test$another$hypothesis…

Build%Z%Measure%Z%Learn

Zoom$in

Zoom$out

Customer$segment

Customer$need

Platform

Business$architecture

Value$capture

Engine$of$growth

Channel

Technology

Batches

An$old$friend:$the$question$of$efGiciency$vs.$effectiveness.

Small%batches%and%large%batches.

When$do$quality$

issues$become$

apparent?

What$was$it$that$

we$were$doing$by$

the$way?

And$for$whom?

Create%your%own%andon%chord.

ACCELERATE - steer - vision

accelerate: grow

Where$does$growth$come$from?

Remember:$We’re$looking$for$sustainable$growth.

New%customers%come%from%the%actions%of%past%customers.WoM

Side$effect$of$usage

Funded$advertising

Repeat$purchase

There%are%three%engines%of%growth.

Sticky$ /Customer$retentionEEacquisition$versus$churn

Viral$ $ /$Viral$coefGicient$>$1.0

Paid$ $ /$LTV$vs.$cost$per$acquisition

Startups%typically%use%just%a%single%engine%of%growth.

Compounding growth rate as of

Company A Company B

6 months ago 0.1% 9.8%





1 month ago 5.0% 10.0%

accelerate: adapt

When$engines$run$out

Growing$too$fast:$You$cannot$trade$quality$for$time.

Shortcuts%are%expensive...%

Here’s$a$tradeEoff:$invest$in$an$unknown$project$against$an$unknown$beneGit.

S

Why$did$the$student$fail$the$exam?

Overload%of%study%materials

Why$was$there$an$overload?

Too%little%time%to%digest

Why$was$there$too$little$time?

Too%many%subjects%to%study

Why$were$there$too$many$subjects?

Student%missed%exams%in%previous%block

Why$did$the$student$miss$the$exams?

Student%madly%in%love%

accelerate: adapt

Proportional$investments

Small$problems$likely$need$small$investments.$Big$problems$require$big$

investments.

The$5YEmodel$helps$in$securing$just$that.

It’s$because$our$department$/$team$/$…$is$GREAT!

It’s$because$their$department$/$team$/$…$SUCKS!

The$5Ys$become$

the$5$blames...

Startups$and$corporates$need$to$learn$to$juggle$operational$

excellence$and$disruptive$

innovation

accelerate: innovate

Leading$innovation

Startup$teams$need:

Resources:$Scarce$but$secure

Authority:$To$develop$indepedently

Stake:$Create$shusa

Protect$the$startup$and$the$corporate:

Transparency:$No$black$boxes

Sandbox:$Safe$and$quarantined

Accountable:$Build,$$Measure,$Learn

accelerate: innovate

Leading$innovation

There$are$four$types$of$work$to$manage.$

Scale

Routine

OE

UmpireThe$

Entrepreneur

These%types%need%to%be%managed%differently.

And$then$there$is$the$status$quo...

The$Lean$Startup

Innovating$Smarter$Successfully

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Woensdag$29$mei$Ontwikkel!je!visie!

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Dank!voor!jouw!deelname!!

Dank!voor!jouw!deelname!!

Intro lecture 'Innoveren als Startup' door Henry Robben

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Transcript of Intro lecture 'Innoveren als Startup' door Henry Robben