Lean Startup Methods: Breaking Out of the Newsroom

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  • @twg #techraking LEAN STARTUP METHODS FOR BREAKING OUT OF THE NEWSROOM Dominic Bortolussi The Working Group twg.ca
  • @twg #techraking This industry is a dying giant
  • @twg #techraking WE ARENT A NEWS SOURCE, WE ARENT PROFESSIONAL JOURNALISTS, AND WE DONT CARE. - Their About page, Dec, 2013.
  • @twg #techraking REVENUE HAS DECREASED BY 13% ACROSS CANADAS NEWSPAPER INDUSTRY OVER THE LAST FIVE YEARS (SOURCE: STATISTICS CANADA)
  • @twg #techraking AND ITS PREDICTED TO DROP 20% BY 2017 (SOURCE: PWC GLOBAL ENTERTAINMENT AND MEDIA OUTLOOK)
  • @twg #techraking LAYOFFS AT THE NATIONAL POST, GLOBE & MAIL, TORONTO SUN, CBC. THE LIST GOES ON
  • @twg #techraking This industry is a dying giant What TV is doing to the movie industry. - U.S. News & World Report (1958)
  • @twg #techraking EVERYTHING GETS DISRUPTED
  • v10,000 15,000 2001 2006 2011 13,28013,320 12,965 No fewer journalists in Canada since 2001 (Statistics Canada) Despite layoffs and buyouts at newspapers, the total number of Canadians saying they work as journalists has held steady over the past decade.
  • @twg #techraking NOBODYS RUNNING OUT OF IDEAS But well want to identify the good ones.
  • @twg #techraking@twg #techraking
  • @twg #techraking@twg #techraking
  • @twg #techraking@twg #techraking
  • @twg #techraking HOW DO WE MAKE SURE OUR IDEAS ARE GOOD?
  • AVOID
  • Front Porch Forum You???TSN @twg #techraking ABOUT US
  • @twg #techraking Youre a good researcher and connector who knows how to ask the right questions Youre resourceful, and dont get discouraged when someone tells you no Youre a great writer and editor JOURNALISTS = GREAT ENTREPRENEURS
  • @twg #techraking Even as revenue-strapped news outlets continue to cut staff, we need to celebrate in 2014 a new reality: Media entrepreneurship is at an all-time high ! - Jan Schaffer, Executive Director of J-Lab
  • LIFES TOO SHORT TO BUILD SOMETHING NOBODY WANTS. - @ASHMAURYA
  • @twg #techraking THE OLD WAY AND THE NEW WAY
  • @twg #techraking Lean Canvas: Your Startup Blueprint
  • @twg #techraking Lean Canvas: Your Startup Blueprint
  • @twg #techraking 1. CUSTOMER SEGMENTS & PROBLEM List the 3 biggest problems your customer has List existing alternatives
  • @twg #techraking 2. UNIQUE VALUE PROPOSITION Single compelling message stating your difference and value. Target early adopters Focus on nished story benets
  • @twg #techraking 3. SOLUTION Sketch out the top features or capabilities for each problem
  • @twg #techraking 4. CHANNELS Channels are how your business will reach its customers They let people know about your product PR, SEO,Word of Mouth
  • @twg #techraking 5. REVENUE STREAMS AND COST STRUCTURE How will you make money? How much money do you need to make?
  • @twg #techraking 6. KEY METRICS One or two key activities that will drive people to use your product One or two key activities that prove your product is useful
  • @twg #techraking 7. UNFAIR ADVANTAGE Channels are how your business will reach its customers They let people know about your product PR, blogging, email
  • @twg #techraking@twg #techraking
  • @twg #techraking THEINFORMATION.COM
  • IN A STARTUP NO FACTS EXIST INSIDE THE BUILDING. ONLY OPINIONS - @SGBLANK
  • @twg #techraking Test the hypotheses of your Lean Canvas Learn as much as you can about your customers and their pain Keep going until you stop learning CUSTOMER DISCOVERY
  • GET OUT OF THE BUILDING
  • DO INTERVIEWS (YOU MIGHT HAVE DONE THIS BEFORE)
  • @twg #techraking Ask about their problems. What is the hardest part about _____. Learn about their pain, and what they currently do to resolve it. Listen, romance, repeat, record CUSTOMER DISCOVERY PROBLEM INTERVIEWS
  • @twg #techraking Tell your customers your value prop and solution details. Present something. How are they solving it today? Is this better? Will they commit to trying it and a price? CUSTOMER DISCOVERY SOLUTION INTERVIEWS
  • @twg #techraking THEN WHAT? Repeat, interview, and fine tune your Solution. Do this until you feel ready to create your Minimum Viable Product to launch. Track the metrics.. looking for traction.
  • @twg #techraking Steve Blank - The friendly Godfather of Lean
  • @twg #techraking I am more bullish about the future of the news industry over the next 20 years than almost anyone I know. You are going to see it grow 10X to 100X from where it is today. ! - Marc Andreesen
  • @twg #techraking Request for submissions open atYCombinator On The Future of Journalism: ycombinator.com/rfs1.html
  • @twg #techraking THANK YOU Email: dom@twg.ca Ping: @dombort
  • #TECHRAKING