2010 05 04 Eric Ries Keynote for Web 2.0 Expo SF 2010 - The Lean Startup Innovation Through Experimentation Not Just for Startups Anymore

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Presented by Eric Ries at the Web 2.0 Expo 2010 in SF on May 4, 2010. Video online here: http://www.youtube.com/watch?v=i65PaoTlVKg

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The Lean Startup Innovation Through Experimentation. (Not Just for Startups Anymore) #leanstartup Eric Ries (@ericries) http://StartupLessonsLearned.com

Entrepreneurship = Awesome It is the best time in the history of the world to be an entrepreneur Costs are falling in all industries Barriers are being destroyed Disruption and chaos are everywhere

Why build a startup? Only entrepreneurship combines these three elements Change the world Build an organization of lasting value Make customers’ lives better

Nothing to do with size of company, sector of the economy, or industry,[object Object]

Entrepreneurship is management ,[object Object]

Traditional management practices fail- “general management” as taught to MBAs ,[object Object]

Not just for “two guys in a garage”,[object Object]

They started out as digital cash for PDAs, but evolved into online payments for eBay.

They started building BASIC interpreters, but evolved into the world's largest operating systems monopoly.

They were shocked to discover their online games company was actually a photo-sharing site.

Pivot: change directions but stay grounded in what we’ve learned. ,[object Object]

In traditional business, value is created by delivering products or services to customers

In a startup, the product and customer are unknowns. We need a new definition of value for startups:validated learning about customers,[object Object]

Agile Product DevelopmentUnit of Progress: A line of Working Code “Product Owner” or in-house customer Problem: known Solution:unknown

Lean StartupUnit of Progress: Validated Learning About Customers ($$$) Customer Development Hypotheses, Experiments, Insights Problem:unknown Data, Feedback, Insights Solution:unknown Agile Development

There’s much more… Build Faster Unit Tests Usability Tests Continuous Integration Incremental Deployment Free & Open-Source Cloud Computing Cluster Immune System Just-in-time Scalability Refactoring Developer Sandbox Minimum Viable Product Learn Faster Split Tests Customer Development Five Whys Customer Advisory Board Falsifiable Hypotheses Product Owner Accountability Customer Archetypes Cross-functional Teams Semi-autonomous Teams Smoke Tests Measure Faster Funnel Analysis Cohort Analysis Net Promoter Score Search Engine Marketing Predictive Monitoring Measure Faster Split Tests Continuous Deployment Usability Tests Real-time Monitoring & Alerting Customer Liaison

Myth #1 Myth Lean means cheap. Lean startups try tospend as little money as possible. Truth The Lean Startup method is not about cost,it is about speed.

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From their humble beginnings in 1984, TED has grown into the world’s most powerful amplifier for speakers and thought-leaders to share their ideas. They have over 2,400 filmed talks (not including the 30,000+ TEDx videos) freely available online, and have hosted over 17,500 events around the world. With over one billion views in a year, it’s no wonder that so many speakers are looking to TED for ideas on how to share their message more effectively. The article “5 Public-Speaking Tips TED Gives Its Speakers”, by Carmine Gallo for Forbes, gives speakers five practical ways to connect with their audience, and effectively share their ideas on stage. Whether you are gearing up to get on a TED stage yourself, or just want to master the skills that so many of their speakers possess, these tips and quotes from Chris Anderson, the TED Talks Curator, will encourage you to make the most impactful impression on your audience. See the full article and more summaries like this on SpeakerHub here: https://speakerhub.com/blog/5-presentation-tips-ted-gives-its-speakers See the original article on Forbes here: http://www.forbes.com/forbes/welcome/?toURL=http://www.forbes.com/sites/carminegallo/2016/05/06/5-public-speaking-tips-ted-gives-its-speakers/&refURL=&referrer=#5c07a8221d9b

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Everyone is in agreement that ChatGPT (and other generative AI tools) will shape the future of work. Yet there is little consensus on exactly how, when, and to what extent this technology will change our world. Businesses that extract maximum value from ChatGPT will use it as a collaborative tool for everything from brainstorming to technical maintenance. For individuals, now is the time to pinpoint the skills the future professional will need to thrive in the AI age. Check out this presentation to understand what ChatGPT is, how it will shape the future of work, and how you can prepare to take advantage.

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2010 05 04 Eric Ries Keynote for Web 2.0 Expo SF 2010 - The Lean Startup Innovation Through Experimentation Not Just for Startups Anymore

1. The Lean Startup Innovation Through Experimentation. (Not Just for Startups Anymore) #leanstartup Eric Ries (@ericries) http://StartupLessonsLearned.com

2. STOPWASTINGPEOPLE’STIME

3. Most Startups Fail

4. Most Startups Fail

5. Most Startups Fail

6. STOPWASTINGPEOPLE’STIME

7. Entrepreneurship = Awesome It is the best time in the history of the world to be an entrepreneur Costs are falling in all industries Barriers are being destroyed Disruption and chaos are everywhere

8. Why build a startup? Only entrepreneurship combines these three elements Change the world Build an organization of lasting value Make customers’ lives better

10.

11.

12.

13.

14. I’

15.

16. They started out as digital cash for PDAs, but evolved into online payments for eBay.

17. They started building BASIC interpreters, but evolved into the world's largest operating systems monopoly.

18. They were shocked to discover their online games company was actually a photo-sharing site.

19.

20. STOPWASTINGPEOPLE’STIME

21.

22. In traditional business, value is created by delivering products or services to customers

23.

24. Agile Product DevelopmentUnit of Progress: A line of Working Code “Product Owner” or in-house customer Problem: known Solution:unknown

25. Lean StartupUnit of Progress: Validated Learning About Customers ($$$) Customer Development Hypotheses, Experiments, Insights Problem:unknown Data, Feedback, Insights Solution:unknown Agile Development

26. Minimize TOTAL time through the loop

27. There’s much more… Build Faster Unit Tests Usability Tests Continuous Integration Incremental Deployment Free & Open-Source Cloud Computing Cluster Immune System Just-in-time Scalability Refactoring Developer Sandbox Minimum Viable Product Learn Faster Split Tests Customer Development Five Whys Customer Advisory Board Falsifiable Hypotheses Product Owner Accountability Customer Archetypes Cross-functional Teams Semi-autonomous Teams Smoke Tests Measure Faster Funnel Analysis Cohort Analysis Net Promoter Score Search Engine Marketing Predictive Monitoring Measure Faster Split Tests Continuous Deployment Usability Tests Real-time Monitoring & Alerting Customer Liaison

28. STOPWASTINGPEOPLE’STIME

29.

30. Myth #1 Myth Lean means cheap. Lean startups try tospend as little money as possible. Truth The Lean Startup method is not about cost,it is about speed.

31. Myth #2 Myth The Lean Startup is only forWeb 2.0/internet/consumer software companies. Truth The Lean Startup applies to all companies that face uncertainty about what customers will want.

32. Myth #3 Myth Lean Startups are small bootstrapped startups. Truth Lean Startups are ambitious and are able to deploy large amounts of capital.

33. Myth #4 Myth Lean Startups replace vision with dataor customer feedback. Truth Lean Startups are driven by a compelling vision, and are rigorous about testing each element of this vision

34. STOPWASTINGPEOPLE’STIME

35.

36. http://StartupLessonsLearned.com

37. Getting in touch (#leanstartup)

38. http://twitter.com/ericries

39. eric@theleanstartup.com

40. Additional resources

41. Lean Startup Wiki http://leanstartup.pbworks.com

42. Lean Startup Circle http://leanstartupcircle.com

Editor's Notes

Thank you: sponsors, mentors, volunteers, Charles, David, Erin
I’m not leaving you, I’m pivoting to another man
Conference structure
Truth: The Lean Startup method is not about cost, it is about speed. Lean Startups waste less money, because they use a disciplined approach to testing new products and ideas. Lean, when used in the context of lean startup, refers to a process of building companies and products using lean manufacturing principles applied to innovation. That process involves rapid hypothesis testing, validated learning about customers, and a disciplined approach to product development.
Truth: The Lean Startup methodology applies to all companies that face uncertainty about what customers will want. This is true regardless of industry or even scale of company: many large companies depend on their ability to create disruptive innovation. Those general managers are entrepreneurs, too. And they can benefit from the speed and discipline of starting with a minimum viable product and then learning and iterating continuously.
Truth: There’s nothing wrong with raising venture capital. Many lean startups are ambitious and are able to deploy large amounts of capital. What differentiates them is their disciplined approach to determining when to spend money: after the fundamental elements of the business model have been empirically validated. Because lean startups focus on validating their riskiest assumptions first, they sometimes charge money for their product from day one – but not always.
Truth: Lean Startups are driven by a compelling vision, and they are rigorous about testing each element of this vision against reality. They use customer development, split-testing, and actionable analytics as vehicles for learning about how to make their vision successful. But they do not blindly do what customers tell them, nor do they mechanically attempt to optimize numbers. Along the way, they pivot away from the elements of the vision that are delusional and double-down on the elements that show promise.

2010 05 04 Eric Ries Keynote for Web 2.0 Expo SF 2010 - The Lean Startup Innovation Through Experimentation Not Just for Startups Anymore

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