Ce diaporama a bien été signalé.
Le téléchargement de votre SlideShare est en cours. ×

Intro to Lean Startup - Women's Startup Lab April 2015


Consultez-les par la suite

1 sur 69 Publicité

Plus De Contenu Connexe

Diaporamas pour vous (20)

Similaire à Intro to Lean Startup - Women's Startup Lab April 2015 (20)


Plus récents (20)

Intro to Lean Startup - Women's Startup Lab April 2015

  1. 1. Lean Startup Kevin Shutta Organizer at Lean Startup Machine 1
  2. 2. Introductions 2
  3. 3. What I will get from this workshop? • What is Lean Startup compared to other approaches • When to use it • What I will get out of it • How to do it • Where to can learn more 3
  4. 4. Workshop Schedule • Presentation & questions (1 hour ish) • Practice (coming up with experiment ideas) 4
  5. 5. 98% of Startups FAIL 5 Because they never get customers to pay for their offering and/or build something nobody wants.
  6. 6. Case Study (Not Lean) 6
  7. 7. College Hobby I created over 2,000 videos teaching myself how to speak in public. Practice generally included 10-60 second videos on skills that someone could practice on his/her own: • Pronunciation • Gestures • Stance • Confidence • Etc. 7
  8. 8. Startup Idea: Share this with the world through online network for public speaking 8
  9. 9. Startup Weekend Washington, D.C. 2013 9 Top Competitor Solution Resolve fear through skill-building using low cost, low effort, high feedback training online through a guided community and content.
  10. 10. Successes • 1st Place at Startup Weekend • Designed a few courses of content • Team of 4-7 working on this for 5 months • Investors LOVED the idea, they just wanted to see the PRODUCT 10
  11. 11. It was NOT the product that was the problem. After attending a Lean Startup Machine workshop… 11
  12. 12. Customers (Sales Pitch) 50 people in the streets of Washington, D.C. • 48 thought the idea would be good for other people, but not for themselves • “This would be good for introverts, but not me” • “I take beta blockers before I speak, so I’m fine.” • “I’m a teacher. I got used to the stress a long time ago, so I don’t look for solutions anymore.” • 1 Person liked it because he wanted to recruit me for network marketing • 1 Person ACTUALLY wanted to give it a try 12
  13. 13. Customers (Product Demo) Demo in Asperger’s group • 100% (about 10 of 10) saw their speaking skills improve after their combined content and video course • 0% wanted continued lessons 13
  14. 14. Online platform for Public Speaking Customers Money Problem Offering Solves Problem for customer Captures Money Scalable Money to Build Technology to Build People to Build Willing to Use $$$ to solve Problem
  15. 15. Wall of Shame 15 Lesson: you can’t forecast your user base if you don’t have any users. You can’t analyze your service against what others value if you haven’t talked with them
  16. 16. Result FAIL 4 months of time that did not result in a successful business Hundreds of dollars (mainly on pizza and gas, luckily) 16
  17. 17. Lesson Learned: forcing my idea on the world doesn’t work 17
  18. 18. What is Lean Startup? 18
  19. 19. Startup 19 A startup is a human institution designed to deliver a new product or service under conditions of extreme uncertainty. - Eric Ries
  20. 20. Lean Startup Lean Startup is about finding the cheapest, fastest way to Reduce the risk of your startup not succeeding, And rapidly iterating until you find the business that succeeds 20
  21. 21. Your Startup idea is a set of [untested] Hypotheses “I believe [Customer] has a problem with [Problem]” “I believe [Solution] will solve [Problem] for [Customer]” “I believe [Customer] will pay for [Solution]” “I believe [Customer] will repeat buy the [Solution] or recommend to a friend” 21
  22. 22. So… identify and reduce your risks of failing by testing, validating, and getting to the right model 22
  23. 23. Experiments Are your Answers Hypothesis: “I believe [customer] has a problem with [problem]” Experiment: Ask the customers. See if they exhibit the behavior of someone with that problem (discussed later) Success Criteria: If I can find X of Y customers in this setting who have this problem, success and continue. If two or less, it’s not strong enough. 23
  24. 24. 24 Build Experiment MeasureLearn Create new experiments to validate / invalidate business models until you fine one that works
  25. 25. Some Types of Experiments 25
  26. 26. Types of Experiments 26 Experiment Possible Tools Question it Answers (Validation/Invalidation) Learning Available Problem Interview Open-ended questions Does the customer have the problem I think they have? What problems do they have? • Customer pain points (if any) • Alternative solutions • Customer Segments • Potential Use Cases (stories) Solution Interview Prototype Screenshots Mock-ups Could the solution work? • Identify early adopters • Features required / not required in minimum viable product Pitch MVP Scripts Sales materials (e.g. screenshots) Letter of Intent Landing Page Can we drive traffic? Can we get signups? Will people sacrifice time / money / emails / other currency to solve their pain (with our solution)? • Sales & marketing tactics • Customer objections • Pricing information Concierge MVP A person (you) Simple technology (sometimes) Does the manual version of my product solve the customer need? Do they return or refer others? • Product optimization (features needed and not needed) • Sales funnel optimization • Potential lifetime customer value and sales model
  27. 27. Customer / Problem Interviews Find your potential customers and talk with them about their problems. 27
  28. 28. Find your Customers GET OUT OF THE BUILDING. Find customers who have the problem you think they have. 28
  29. 29. Seriously… 29
  30. 30. Find customers that have the problem 30 • Aware that they have the problem • Previously searched for a solution • Tried to solve it themselves • Have money to pay for solution
  31. 31. Sample Problem Interview Script 31 Intro What are your top challenges with [area]? Why are those problems? What have you tried to do to solve this? Hi, my name is Kevin. Have a minute? I’m doing a school project on vacations. Could you tell me about your last vacation? Could you tell me about your planning process? What was hard? Why? What have you tried to do to solve this? General General
  32. 32. Once you have customer and problem, SELL IT! 32
  33. 33. Pitch MVP Purpose: see if your customer with the problem will put something on the line to solve that problem Script: • Intro and qualify them • Do you have a problem with [Problem]? • Present a solution (doesn’t have to work or exist!) • Ask for the currency (attention, money, email address, etc.) 33
  34. 34. 34
  35. 35. If people will not give up their email address for a promise to solve their problem, they will not pay money for a product that promises that it will. 35
  36. 36. Landing Page Purpose: See if your statement of value is enough for consumers to proceed with your offering 36 3% or more is great. You need to know if customers who do not already know you will convert. DO NOT use your friends.
  37. 37. People are now signing up for my service. However, it doesn’t exist yet. How can we know if they will like it? 37
  38. 38. Concierge Purpose: see if the solution solves the pain Experiment: manually do what your service is intended to do 38
  39. 39. Concierge Sample 39 Grace Ng Lean Startup Machine @uxceo Question: Will connecting people with websites and UX Designers for $$$ create a mutually beneficial experience? 1. Let customers fill out an online form that sends email to Grace 2. UX Designers fill out form that submits email to Grace 3. Grace manually introduces them in an email Result: the experience was OK and Grace had more to improve See the experiment at https://www.youtube.com/watch?v=-_MH8TENpwc
  40. 40. Concierge Sample Created PDF coupons and emailed them to customers (they didn’t just go build it) Answered: Yes, there is demand for such a system 40
  41. 41. What does Minimum and Viable mean? The minimum feature set that solves the customer’s pain 41
  42. 42. THIS Presentation: Minimum and Viable Customer Pain points: • Need to cover Lean Startup • Needs to be 1-2 hours Iteration #1 (February 2015): junky black and white presentation that covers all essential topics. Takes ~ 1 hour Iteration #2 (April 2015): junky black and white presentation, with a few improvements (note these are still peripheral needs. Customer pain points still addressed in iteration #1): • “Questions” slide is actually at the end, not randomly in the middle • Overview of MVPs added • Some useless slides eliminated Things I didn’t care about. Why? Because they don’t address the core value proposition. • Fonts • Animations • Spell check 42
  43. 43. Pivots If you find that your proposed hypothesis failed in the market, the market is telling you something. CHANGE YOUR MODEL (PIVOT) and try the new one. Otherwise, you are beating a dead horse. 43
  44. 44. Facebook Started As… Facemash, a site where you can choose which person was “hotter” Now… 44
  45. 45. Starbucks Started as… Selling expresso makers and coffee beans Ended as.. 45
  46. 46. Pivots – What’s the Point? If you can care more about the value you are delivering (and capturing) from customers, then chances are you will make more money than if you care only about the vision you want to share (impose) on the world. 46
  47. 47. Case Study [Lean] 47
  48. 48. Vacation-Nation
  49. 49. Busy, adventurou s travelers Vacation planning hard Planning is a problem Interview: 50% Busy, personal travelers Don’t use travel rewards effectivel y People feel not using points effectively Interview : 10/20 Lived abroad, now live U.S. No access to favorite goods abroad People attached to products Interview 5/10 Lived 2+ Areas / Regions Less than 50% Pivot! Pains: travel rewards, money, booking Not pain: destination, people Few had problem; no pain Pivot! Rewards not a pain point for general market 8/8 Persevere ! Some: no search, food only, or don’t know exact item 11 of 18 Pivot Miss product. Searched but did not find Customer s know exact product Interview: 10/20 Don’t track their rewards points Notifies users of value trips based on prefs People care about value points provide Pitch: 15/20 7 of 10 Persevere Travel Professiona ls with Many Points Most want food, not pressing, or found good way to solve Validated service!
  50. 50. Note: you can use the previous slide (along with the downloadable version as an aid) to organize your experiments. The board is created by Lean Startup Machine. However Excel is just as good.
  51. 51. Customers Money Problem Offering Solves Problem for customer Captures Money Scalable Money to Build Technology to Build People to Build Willing to Use $$$ to solve Problem Vacation-Nation Take a fraction of points. Not risky. Take a fraction of points. Not risky.
  52. 52. See how there is less risks to the business failing? I accomplished more in three days with Lean Startup than I did in 4-5 months without. 52
  53. 53. 54
  54. 54. Bottom Line 55 Customers Money Problem Offering Solves Problem for customer Captures Money Scalable Money to Build Technology to Build People to Build Willing to Use $$$ to solve Problem Experiment. Fail. Pivot. Fail. Pivot. Go as fast as you can until you are in the green
  55. 55. Lean Metrics Measure things that matter: • Make an impact to your business • Measurable • Actionable 56
  56. 56. Lean Metrics • Acquisition – visit, signup, etc. • Activation – use of a core feature – create an account, play a game, take an Uber ride, etc. • Retention – come and use again • Referral – invite others who are acquired • Revenue 57 Copyright: Dave McClure (Acquisition-Activation-Retention-Referral-Revenue)
  57. 57. More Metrics • Cohort metrics (for testing changes to your site) • Viral coefficient – average number of customers each person refers 58
  58. 58. Recap • Startups are risky • Paying customers or revenue-generating users are more important than investors • Many risks can be eliminated cheaply and efficiently using lean startup validation / invalidation, learning, and pivoting • An experiment is conducted to answer a question • Do things that matter • Actionable • Eliminate risk and uncertainty • Valuable to your business 59
  59. 59. How you can do it Find your customers If you have an idea, try to sell it If you have a product or prototype, test it with them Find out as soon and as cheaply as possible if there is a problem with your model. Fix the problem, find an alternative, or ditch the model. Note: Don’t worry too much about people stealing your idea. How many of you are going to build a vacation planning tool or rewards points optimizer? 60
  60. 60. Lean Startup Machine 61
  61. 61. Lean Startup Machine Experiment Board (next slide) 62
  62. 62. 63
  63. 63. 64 http://www.javelin.com/ (Download for a tweet) Experiment Board is available at…
  64. 64. Lean Startup Machine The hands-on Lean Startup workshop • Learn a repeatable process for finding products that succeed with companies • Hands-on guidance and practice from successful entrepreneurs and leaders in Lean • April 17th-19th in Silicon Valley (three days) https://www.leanstartupmachine.com https://www.leanstartupmachine.com/siliconvalley 65
  65. 65. If you enjoy this session, please help us get the word out… Event Description Lean Startup Machine is a 3-day discovery workshop where participants learn a repeatable process for finding products that will succeed with customers. During the workshop, participants identify customers, discover their needs, design an offering, and determine whether a business can be created. Participants are guided by experienced mentors, serial entrepreneurs, and thought leaders in the practice of Lean Startup. The Silicon Valley event takes place April 17th-19th and you can find out more at https://www.leanstartupmachine.com/cities/silicon-valley. Register today with 20% discount code lsm20. Twitter Learn to create products customers love at @Lean #Startup Machine, coming to #SiliconValley Apr 17-19! http://tiny.cc/bl4lvx @Lean_BayArea 66
  66. 66. Other Ways to Learn More 67 There are plenty of books out there these days.
  67. 67. Questions Contact Information Kevin Shutta kshutta@gmail.com Linkedin: www.linkedin.com/in/kevinshutta @KevinShutta 68 Other Content Lean Startup Machine Grace Ng (Last slide before practice)
  68. 68. Experiment Development Some questions to ask: • Who is your customer? • Where can you find them? • What is their biggest problem in your area? Do they agree with you? • What do you need to know about your customers? • What makes you nervous or stressed about whether your product will sell and get customers? • How can you find out if your product will work before creating it? 69