Lean Startup

-LEAP

OGIRALA VENKAT ROHITH - 1902153

 Strategies are built on assumptions.
The riskiest elements of a startup plan are the leap-of-faith assumptions

The two most important assumptions are the value hypothesis and the growth
hypothesis.

Once these assumptions are in check, then startup has a progressive growth

EX: IPOD, INTUIT

Challenges

Test Not losing vision

Assumptions of company goals
 • “Go and see for yourself”. Means that business should be based
on deep firsthand knowledge
• Until you have seen something for yourself firsthand you cannot
Genchi be sure you really understand any part of the business problem

Gembutsu • The facts that we need to gather about customer exist only
outside the building.
• Toyota’s minivan, Sienna’s chief engineer, drove through North
America and found children are appreciative of their surroundings
 • The earlier analogy was designed to convince stakeholders
that a reasonable first step is to build the new startup’s
technology and see if customers will use it.
• The restated approach should make clear that what is needed
Custome is to do some empirical testing first: let’s make sure that
there really are hungry customers out there eager to
r embrace our new technology.
• Early contact with the customer clarifies a basic coarse level that we can use
Archetyp to craft a customer archetype
e • While interacting with a product, customers create information, feedback
and data that can be taken into the next iteration of the product – More
valuable than money
• To assess if our product is required for people, a good method for measuring
is innovation accounting, which involves creating learning milestones to
track progress
• If one of our assumptions turns out to be false, we’ll need a
new strategy
Analysis Paralysis
• There are two ever-present dangers when
entrepreneurs conduct market research and talk to
customers.
• Followers of the just-do-it are impatient to get
started and don’t want to spend time analyzing their
strategy.
• Other entrepreneurs can fall victim to analysis
paralysis, endlessly refining their plans
THANK YOU