Lean Startup (for the Enterprise) Workshop
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This document introduces the principles of Lean Startup, which are built around testing hypotheses about customers' needs through minimal viable products ("MVPs") and iterative design. It outlines three core Lean Startup principles: 1) "Do As Little As Possible" (DALAP) to test ideas quickly and cheaply; 2) "Get Out of the Building" (GOOTB) to get customer feedback; and 3) "I'll Know It When I See It" (IKIWISI) to objectively determine what customers want through empirical testing rather than assumptions. The document then illustrates these principles through the example of a startup called "GreenEase" that iteratively tested assumptions about providing locavore restaurant information
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Lean Startup (for the Enterprise) Workshop
- 1. Lean Startup
- 2. I have this awesome idea! that’s great, let’s do it…
- 3. What does ‘do’ mean? • Sit around the table and design it… • Develop code… (or in manufacturing build it…) • Move it to production… And then… No one comes…
- 4. That was supposed to be our best idea yet?!!
- 5. So how did we KNOW what the customer wanted?
- 7. Hint: (expletive) We had no ___________ clue…
- 8. Lean Startup is built on 3 simple principles Time to learn an Alien Language
- 9. DALAP “Do As Little As Possible” GOOTO “Get Out of the Office*” IKIWISISee It” “I’ll Know It When I *the real term in Lean Startup is GOOTB = Get Out of the Building”
- 10. DALAP “Do As Little As Possible” reduce Almost every initial idea of what a customer wants is WRONG!! idea need customer = Hypothesis any & all may be wrong
- 11. idea need customer = Hypothesis assume it is wrong GOOTO “Get Out of the Office*” We aren’t going to figure out if our idea will work here We must test our assumptions
- 12. Create something to confirm the hypothesis Go from simple to IKIWISISee It” “I’ll Know It When I harder Objective is to Learn
- 13. Lean Startup also has 1 C Value RE
- 14. Passionate Ideas
- 15. Loosely Held
- 18. WTF You told me NOT to build anything
- 19. We have to idea need customer test our = Hypothesis
- 24. GreanEase Team Nov 2012 Lean Start-up Machine • Original Concept: – App to provide moderate ‘greenies’ with information about the restaurant food they were buying as they are not able to easily find this info; to be paid for by the restaurant owners • Biggest Assumption: is this a valid need? • 1st “build”: Structured Interview – – – – Questions to ID customer segment Closed questions to see if this need was valid Open-ended questions to understand other items Executed at Whole Foods, Pleasant Pops Market, and a ‘green’ grocer
- 25. GreenEase Validation Board P1 P2 P3 P4 P5 Customer Moderate Greenie Need Restauran t Food Info Solution Phone App Assumptions Anything out there yet? Food info available? Will restaurant owners pay? Riskiest Assumption Is this a valid need? Experiment Structured Interview Result Moderate Greenies Didn’t Drive Decisions on This! Invalidated Moderate Greenie Validated
- 26. GreanEase Team Nov 2012 Lean Start-up Machine • Pivot 1: – App to provide Locavores with information about how local restaurant food is as they are not able to easily find this info; to be paid for by the restaurant owners (though the experiment will test our other customer segment assumption) • Next Biggest Assumption: will restaurant owners pay? • 2nd “build”: Structured Interview – Closed questions to see if this need was valid – Open-ended questions to understand other items – Executed at Ris, Founding Farmers, & two other restaurants known for locally sourcing their food
- 27. GreenEase Validation Board P2 P1 P3 P4 P5 Customer Moderate Restauran Greenie t Owner Need Need to Restauran t Food Info Solution Phone App Market Concern Phone App Assumptions Anything out there yet? Food info available? Are Locavores interested? Invalidated Will restaurant Restaurant owners pay? Owners Riskiest Assumption Experiment Structured Interview Result Restaurant owners are getting enough business w/word of mouth Need to Market Concern Validated
- 28. GreanEase Team Nov 2012 Lean Start-up Machine • Pivot 2: – App to provide Locavores with information about how local restaurant food is as they are not able to easily find this info; they will purchase this app • Next Biggest Assumption: are they interested? • 3rd “build”: Structured Interview – Questions to ID customer segment – Closed questions to see if this need was valid – iPad Landing Page w/proposed $1.99 price tag – Executed at local Farmer’s Markets & then online
- 30. GreanEase Team Nov 2012 Lean Start-up Machine To arrive at this design: • Created mock-up of phone app design • Logo – Used Hired A|B Testing Group • Landing Page
- 31. GreenEase Validation Board P2 P1 P3 P4 P5 Customer Moderate Restauran Locavores Greenie t Owner Need Need to Restauran t Food Info Solution Phone App Market Concern Restauran t Food Info Phone App Phone App Assumptions Anything out there yet? Food info available? Riskiest Assumption Are Locavores interested? Pay? Experiment Structured Interview Result Interested & Will Pay $1.99! Invalidated Validated Locavores Restauran t Food Info Phone App
- 32. GreanEase Team Nov 2012 Lean Start-up Machine • Still on Pivot 2: – App to provide Locavores with information about how local restaurant food is as they are not able to easily find this info; they will purchase this app • Next Biggest Assumption: anything out there yet? • 4th “build”: Internet Competitor Research – Searched for locavore restaurant apps – Looked for both successes & failures
- 33. GreenEase Validation Board P2 P1 P3 P4 P5 Customer Moderate Restauran Locavores Greenie t Owner Need Need to Restauran t Food Info Solution Phone App Market Concern Restauran t Food Info Phone App Phone App Assumptions Food info available? Riskiest Assumption Are Locavores interested? Pay? Experiment Structured Interview Result 1-2 others, 1-2 failures, but revenue stream was not well-defined for them Invalidated Validated Locavores Restauran t Food Info Phone App Interest & Little Competition
- 34. End of the Startup Machine wins! (but there’s plenty more to do…)
- 35. Possible Steps Forward • Find how to source info – Will users provide? – Sources? • Refine Mock UI from static to dynamic – Is it usable? – Is the info presented meaningful? – Any info missing that users want?
- 39. Hot House Process Good for ideas controlled internally Cross-Functional Executive Review Hot House accredited to Shardul Mehta
- 40. Board Review Process Good for products needing market input Time Varies Cross-Functional Executive Review Time Varies Cross-Functional Executive Review
- 42. Ahem… I said… More Useful Tools
- 43. Business Canvas Key Partners Key Activities Key Platforms Costs Value Proposition Customer Relationships Distribution Channels Revenue Streams Customer Segments
- 47. You are now armed & dangerous