Lean launchPad Spring ITP Class 1 1.27.2014

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Class 1 / 12 January 27, 2013 Jen van der Meer | jd1159 at nyu dot edu Josh Knowles | chasing at spaceship dot com LEAN LAUNCHPAD AT NYU ITP Rockets Sketches borrowed from Harry Allen Design

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Lean LaunchPad NYU ITP Class 1: Adapting Lean LaunchPad for ITP

Transcript of Lean launchPad Spring ITP Class 1 1.27.2014

Page 1: Lean launchPad Spring ITP Class 1 1.27.2014

Class 1 / 12January 27, 2013

Jen van der Meer | jd1159 at nyu dot eduJosh Knowles | chasing at spaceship dot com

LEAN LAUNCHPAD AT NYU ITP

Rockets Sketches borrowed from Harry Allen Design

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6:00 – 7:00Course overview

7:00 - 7:45 5 minute business model canvas presentations

7:45 - 8:00 Break

8:00 - 8:55 First Guest Speaker: Christin Roman

TODAY:

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Jen van der Meer, Adjunct Professor at ITP since 2008 ITP courses + workshops: Bodies and Buildings, Products Tell Their Stories, ITP VC Pitchfest, . Currently: Luminary Labs, Angel Investor, Health Data Challenges, Judge for startup competitions, + SVA PoD

Josh Knowles, ITP ’0715+ years as an independent developer/consultant, working with numerous brands and start-up clients (currently under the aegis of Frescher-Southern, Ltd.)

ITP TEACHING TEAM

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@CHASING

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@JENVANDERMEER

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LEAN LAUNCHPAD OUR APPROACH

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LEAN LAUNCHPAD AT NYU ITP

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We embrace a creative, iterative, and collaborative approach to making things -- but launching a product out into the world takes a somewhat different set of skills.

How do we make sure people want to use what they make?

How do we create a business plan to support the idea?

Is the idea strong enough to turn into a job -- or a career?

LEAN LAUNCHPAD AT NYU ITP

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Experiential course in entrepreneurship

Based on the Steve Blank’s Lean Launchpad and the NYU Summer Launchpad Accelerator,

We are applying the curriculum developed at Stanford and Berkeley for the ITP culture and NYU community.

This course has been developed with support from the NYU Entrepreneurship Initiative, and aims to mix the best of the methods from the Lean Launchpad methodology with the best of ITP's culture and practice.

BEST OF BOTH

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THE ONLY TEXTBOOK WE READ:

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ITERATIVE SEARCH FOR A BUSINESS MODEL

Students work in self-formed teams of 3-4 to develop their business model and product/service over the course of the semester.

The focus of the course is the work of:

Customer development, speaking directly to potential customers to help define opportunities that the startup is designed to solve. We’ll go deeper into design approaches to understanding through empathy.

Agile development: utilizing UX methods and tools to ground teams in an understanding of how to launch a minimally viable product.

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CLASS TIMEFRAME AND EXPECTATIONS

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CLASS TIMEFRAME AND CADENCE

Walk through the full canvas

Build to MVP, space for iteration

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CLASS TIMEFRAME AND CADENCE

1/27Business ModelsCustomer DevelopmentUX Tools Intro

2/3Value PropositionUX Tools, Frameworks

2/10Customer SegmentsResearch Tools

2/17President’s Day

2/24Revenue StreamsDistributionProduct Definition

3/3Customer RelationshipsPartners,Product Development

3/10 Resources, Activities, Costs,Product Development

3/17Spring Break

3/24Customer DevelopmentProduct Development

3/31Customer DevelopmentProduct Development

4/7Customer DevelopmentProduct Development

4/14Customer DevelopmentProduct Development

4/21Product MVP

4/28Lessons Learned

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TEAMS

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STUDENT TEAMSTeam Name School

Cognitive Toy Box Lindsey Jones Stern

Tammy Kwan Stern

Hsiang Huang Stern

Alternative Monuments Rodrigo Derteano ITP

Maximo Sica ITP

Ajejandro Puentes ITP

Alon Chitayat ITP

NYBL Sam Slover ITP

Shilpan Bhagat ITP

Max Ma ITP

DiscoverEd Sergio Majluf ITP

Su Hyun Kim ITP

Christina Yugai Stern

Yuliya Parshina Kottas ITP

Advanced Expression Rose Meacham ITP

Hanna Moon ITP

Ju Young Park ITP

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TEACHERS MENTORS AND ADVISORS

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TEACHERS, MENTORS AND ADVISORS

• Why we are doing this? We all see this class as an opportunity to help the startup ecosystem of NYU, and NYC

• Teachers are here to provide guidance and support and ensure you can grasp the practice of customer development and agile development, and get to an MVP

• Mentors have volunteered to coach a specific team – and provide guidance with business model development, and prioritizing features for the MVP

• Advisors have volunteered to be on hand to answer your questions, provide specific expertise, and connect you to who you need to know

• Some have experience in Lean, others are here to learn more about lean and contribute

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MENTOR ROLE

• Mentors play an active role in weekly coaching of a specific team of 3-4 students. The role of the mentors is to help the teams test their business model hypotheses, and .

• Offer teams strategic guidance and wisdom: Offer business model suggestions · Identify gaps in the team’s business knowledge and suggest areas of inquiry and

customer development that can help address those gaps• Provide teams with tactical guidance every week:

· Review teams’ weekly presentation before they present in person or over skype/hangout

· Comment weekly on teams’ project blog· Respond to the teaching team’s critique of their team · Offer network help: “Why don’t you call x? Let me connect you.” · Coach the teams to make 5 to 10 customer contacts/week · Check in with teaching team twice over the semester to discuss student progress

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MENTORS + TEAMS

Tom Igoe @tigoeITP, Arduino, Making Things Talk, NYU ITP Pitchfest

Alternative Monuments

Julie Berkun Fajgenbaum @julieFStern Adjunct Professor, Former VP Amex Open, now startup co-founder

NYBL

Michael Levitz @michael_levitzITP grad, R/GA, Lean

DiscoverED

Sarah Krasley @sarahkrasleyAutodesk, Sustainability, Berkeley

Advanced Expression

Chris Milne @greedo1000IDEO, Toy Lab, Stanford, LEGO

Cognitive Toy Box

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WHAT TO EXPECT OF MENTORS

• Proactively set up office hours here or at their convenience• Mentors are available to help you through the work of determining

your business model, working through the business model canvas• Mentors will help connect you to people you need to meet during

customer development (but this responsibility is ultimately yours)• Later on in the semester, as you continue customer development

but move forward to launch an MVP, mentors are there to coach you through timing, priorities, and pacing

• They are coaches, but not minders – you have to do the work of orchestrating to fit into their schedules

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ADVISORS

Briita Riley Windowfarms Tarikh Korula Seen.co

Robert Fabricant frog design Matt Harrigan ESPN

Ben Cerveny Advisorsphere Anthony Viviano Author of Lean UX Manifesto

Valerie Casey Samsung Accelerator Christin Roman UX Designer

Phin Barnes First Round Capital Carrie Barnes Elise Communications

Andy Weissman Union Square Ventures Adam Quinton ASTIA

Ajay Revels Polite Machines Jess Eddy UX Designer

Nihal Parthasarathi CourseHorse John Bachir Medstro

Vlad Vukicevic RocketHub Jennifer Hill International Tech Venture Lawyer

Matt Jones Google Frank Rimalovski NYU

Lindsey Marshall NYU Summer Bedard Betaworks

Thomas Gerhardt Studio Neat More to come …

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WHAT TO EXPECT OF ADVISORS

• Advisors are likely time constrained, but eager to help• Advisors are available for counsel and advisory, and connections• We’ll publish a contact list but lean on us to make the first intro

and set context, as each advisor has their unique perspective and constraints for availability

• Advisors based in NYC will come to the Lessons Learned day at the end of the semester

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WHAT TO EXPECT OF TEACHERS

• We are here to help – reach out whenever you need it within reason.

• Office hours Jen: 5-6 on Mondays, or schedule time at my office in Tribeca: jd1159 at nyu dot edu

• Josh office hours: 5-6 on Mondays or earlier – schedule time chasing at spaceship dot com

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SHORT HISTORY OF A MOVEMENT

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WHAT IS A BUSINESS MODEL?

A business model describes the rationale of how an organization creates, delivers, and captures value… for companies, customers, and society

Business model canvas : can become a shared language that allows you to easily describe and manipulate models to create new strategic alternatives

Described through 9 basic building blocks that show the logic of how a company intends to make money

Business Model Generation

Alexander Osterwalder

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BUSINESS MODEL CANVAS

Who are our key partners?

What key activities do our value propositions require?

What key resources do our value propositions require?

Which one of our customers problems are we helping to solve?

What needs are met?

What is the product/service?

How will we get keep and grow customers?

Through which channels do our customer segments wish to be reached?

For whom are we solving a problem / needs met

Who are the customers

Does the value proposition match the need

Single sided or multimarket?

CONCEPT HERE

What are the most important costs in our business model?

What is the revenue model? What are our pricing tactics? For what value are customers willing to pay?

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THE SHIFT – FROM PUSH AND MARKET TO CUSTOMER DEVELOPMENT

30The Four Steps to the Customer Epiphany by Steve Blank

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The Customer Development process changes the way startups are built

Startups are not smaller versions of large companies

A startup as a “temporary organization designed to search for a repeatable and scalable business model”

• Co-founded 8 startups. • 1996: E.piphany• 1998: $3.4 MM sales• 1999: IPO raised $72 MM• Author of Four Steps to the Epiphany, Startup

Owner’s Manual

FIRST CAME STEVE

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Continuous customer interaction

A startup is an experiment

A hypothesis to be tested

Assume customer and features are unknowns

Low burn by design

Are we on the path to a sustainable business

• Founded IMVU• Parallels between Lean and Agile, caught fire in

the startup community for software businesses, particularly mobile and SaaS models.

THEN CAME ERIC

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WHAT CAME BEFORE STEVE AND ERIC

Lean Manufacturing

Total Quality Management

Kanban

Continuous Improvement

Agile

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WHAT CAME BEFORE STEVE AND ERIC

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The Kanban Method respects the human condition. People resist change for emotional reasons. When change affects their self-image, self-esteem, or position with a social group, people will resist and the resistance will be emotional.

The Kanban Method adopts the Zen Buddhism concept that "water goes around the rock." Hence, it focuses on changes that can be made without invoking emotional resistance, while visualization and limiting work-in-progress raise awareness of deeper issues allowing for an emotional engagement that helps to overcome resistance.

Now take a deep, cleansing breath. Again.

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KANBAN

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AGILE AND LEAN INFLUENCES

Hat tip: Ajay Revels

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We’ll work on integrating design thinking practices

Deeper UX methodsEthnography, particularly participant observationCustomer interview techniques

To get us deeper into unmet needs, latent and hidden needsOver the course of the semester And contributing back to how Lean LaunchPad evolves

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LEAN IS NEW AS A MOVEMENT, AND IS EVOLVING

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FOR NEXT WEEK

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STEP 1: CUSTOMER DISCOVERY

Customer discovery translates a founding team’s vision for the company into a hypothesis about each component of the business model and creates a set of experiments to test each hypothesis.

Customer discovery is not about collecting features lists from prospective customers or running lots of focus groups.

The founders define the product vision and then use customer discovery to find customers and a market for that vision. -Steve Blank, The Startup Owner’s Manual

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Total addressable

market

Total addressable: how big is the universe?Served available market: how many can I reach with my sales channel? Target market: who will be the most likely buyers?

Served available market

Target market

ESTIMATE YOUR TOTAL ADDRESSABLE MAKRET

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NEXT WEEK PREP:

Alexandar Osterwalder on Business Model Canvas Video

Read: Business Model Generation pp. 14-49.

Video Lecture: Value Proposition

Talk to at least 5 potential customers. Post first discovery narratives on your team blog.

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NEXT WEEK PRESENTATION:

Prepare a presentation – guidelines below:

· Cover slide

· Latest version Business Model Canvas with changes marked

· Market size (TAM, SAM, Target Market)

Total addressable: how big is the universe

Served available market: how many can I reach with my sales channel?

Target market: who will be the most likely buyers?

· Propose experiments to test your value proposition. What constitutes a pass/fail signal for each

test?

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NEXT:CANVAS REVIEW AND CRIT

GUEST SPEAKER: CHRISTIN ROMAN