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Lean Startup v1.1

Lean Startup v1.1

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Published by: nvquangvn on Jul 27, 2011
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Lean Startup

Presented by Quang Nguyen (Sebastian) , MBA, PMP, TESOL

• Co-founder of Passed Pawns LLC, a startup consulting firm • Business Advisory of Contemi, an insurance software from Norway • Instructor of Business Admin at Saigon Tech • Instructor of Project Management at FMIT • www.facebook.com/qtheboss

• • • • • • What Why Where When Who How

• I am here to learn, not to teach • I do not like good words. I love hear you says “No, you’re wrong.” • I have no credit for Lean Startup • I have no credit for any intelligent work on this slides, including images, terminologies, processes, philosophies … • The context is web startup

So who got the credit for Lean Startup? • • • • Eric Ries Co-founder and CTO of IMVU Entrepreneur-in-Residence at Harvard Business school. and Columbia . Stanford. 2007 Startup advisory Steve Blank • Retired serial entrepreneur • Built 8 startups in 21 years including MIPS Computers • Now teaching Entrepreneurship at Berkeley. 2010 Best Young Entrepreneur of Tech.

What is lean? LEAN = NOT FAT .

And lean is everywhere .

The key is to eliminate waste .

Right Time – Bijoy Goswami . • Speed – Startups that succeed are those that manage to iterate enough times before running out of resources – Eric Ries • Validated Learning – Get out of the building – Steve Blank • Focus – Right Action.So what is lean startup • Lean startup is a rigorous process for iterating from plan A to a plan that works.

Why should we care? .

Where on earth do people use Lean? .

connect with your friends and get access to the hundreds of films. Peernuts is in beta mode. Pbworks. video games. – Right now.Who actually used Lean Startup? • Dropbox (www. comics they want to share with you. Aarkvard. … .com) – Peernuts is a sharing platform for cultural goods. Hearsay.peernuts. • And a lot more: IMVU. Groupon.dropbox. Food on the Table. books. KISSMetric. Epic Scale. list your library. available in French and just for DVDs. Votizen.com) • Peernuts (www. You just have to log in.

Dropbox homepage .

Dropbox .1st Launch .

2nd Launch .Dropbox .

3rd Launch .Dropbox .

Key Lessons • • • • Public launch in Sep 2008 Ignored mainstream PR Did not focus on building lots of features Successfully used survey. sharing encouragement … • Invested heavily in analytics . signup flow optimization. split tests.Dropbox . landing page.

Peernuts homepage .

Peernuts – Blogging before Coding • Step #1: – A short blog post – 10-question poll – No code AT ALL .

If it’s big that’s too big. you’re missing the point. Start shrinking your market! – Started with DVD .Peernuts – Market shrinking • Step #2: – Is your market really big and totally bullish? If yes.

– 3 features: • a movie listing powered by an external movie database • a loan dashboard • a friend system coupled with Facebook connect and a basic mail invitation – No rating system. no privacy setting … NOOOOO!!! . no wish list. no recommendation. you’re too fat. no notification.Peernuts – Feature Burner • Test #3: – Ask yourself if you have more than 3 features. If yes.

learn. It looks weird but if you don’t care. it will just be fine! – Remember: you don’t need the perfect product but a working prototype. and learn.Peernuts – No designer • Step #4: – First product ship objective is to learn. . – Don’t depress if you don’t have a wonderful logo.

Peernuts – Procrastination • Did you postpone product ship for the 3rd time? If yes. stop messing around. Release it! • Learn with your customers > Refine useless aspects of your product .

• But: we have a great feedback on the service we are building • Will we add features? NO – Increase customer performance • Will we start massive communication? NO – Wait until the virality rate > 1 • Will we work on our market? YES – We don’t have the correct positioning yet. • Is it okay to not consider any business model for the moment? .Conclusion • Right now: Peernuts doesn’t work.Peernuts .

How to use Lean Startup? • • • • • Lean Canvas MVP (Minimum Viable Product) Build – Measure – Learn loop Customer Development Key Metrics .

Lean Canvas .




Minimum Viable Product (MVP) • MVP is the product with just the necessary features to get money and/or feedback from early adopters. • Do MVPs seem abstract to you? .

4. Cloudfire uses a classic customer development problem presentation. “If Apple can launch a smartphone without Find or Cut-and-Paste. 3. what can you cut out of your product requirements?” – Sramana Mitra 2. Consumer company uses fake screenshots to sell their product. 10. . Fliggo sells it before they build it. Grockit puts up a notify-me-when-you-release form on steroids. ManyWheels uses Microsoft Visio to build clickable web demos for prospective customers. 8. USV-backed foursquare uses Google Docs to collect customer feedback. Auto e-commerce site uses manualation and flintstoning for their backend. 6. Allicator uses Facebook ads: “Ditch Digger? Feeling spread thin? Click here to complete a survey and tell us about it.MVP examples 1. 5. Semiconductor company uses 5 people and FPGAs to build a $100M semiconductor product line. No code. 7.” 9. no maintenance.

Build – Measure – Learn loop .


Customer Development (cont) .

Customer Development (cont) .

Key Metrics .AARRR .

Before Product / Market Fit .

After Product / Market Fit .

Customer Lifecycle / Conversion Behavior .

• It’s new.Conclusion • Lean Startup is a method of testing the assumptions and hypothesis of a business idea in an iterative manner while validating your product/market fit before you ship a complete product. . So be skeptical.

Q&A .

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