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- 1. Media Review Presented by Elizabeth Wang Join us : http://www.facebook.com/groups/147660378706739/ Media, digital innovation & change management – Alexandre Michelin & Emmanuel Fraysse
- 2. Eric Ries Education Yale University B.S. in Computer Sciences Work Experience Catalyst Recruiting There, Inc. IMVU Inc. “Silicon Valley Guru” Works Black Art of Java Game Programming The Lean Startup Startup Lessons Learned blog Media, digital innovation & change management – Alexandre Michelin & Emmanuel Fraysse
- 3. The Lean Startup Method 1. Entrepreneurs are everywhere 2. Entrepreneurship is management 3. Validated learning 4. Build-Measure-Learn 5. Innovation accounting Media, digital innovation & change management – Alexandre Michelin & Emmanuel Fraysse
- 4. Entrepreneurs are everywhere 1 Entrepreneurs are everywhere “When I use the term entrepreneur, I am referring to the whole startup ecosystem regardless of company size, sector, or stage of development.” Entrepreneurship is management Validated learning Build-Measure-Learn Intrapreneur Entrepreneurs who operate inside an established organization Innovation accounting Media, digital innovation & change management – Alexandre Michelin & Emmanuel Fraysse
- 5. Entrepreneurship is management Entrepreneurs are everywhere Management geared to context of extreme uncertainty Juggling portfolio of activities to track progress based on learning 2 Entrepreneurship is management Product Optimization Validated learning Strategy Pivot Build-Measure-Learn Vision Innovation accounting Media, digital innovation & change management – Alexandre Michelin & Emmanuel Fraysse
- 6. Validated learning Entrepreneurs are everywhere Measuring progress via validated learning – scientifically backing the startup’s present and future business prospects Entrepreneurship is management 3 Validated learning Build-Measure-Learn Working smarter to align with customers’ real needs Innovation accounting Media, digital innovation & change management – Alexandre Michelin & Emmanuel Fraysse
- 7. Validated learning Entrepreneurs are everywhere Scientific method “Every product, every feature, every marketing campaign – everything a startup does – is understood to be an Entrepreneurship is management experiment designed to achieve validated learning” 3 Validated learning Build-Measure-Learn Startup experimentation is guided by startup’s vision Innovation accounting Media, digital innovation & change management – Alexandre Michelin & Emmanuel Fraysse
- 8. Build-Measure-Learn Entrepreneurs are everywhere Entrepreneurship is management Validated learning 4 Build-Measure-Learn Innovation accounting Media, digital innovation & change management – Alexandre Michelin & Emmanuel Fraysse
- 9. Build: Minimum Viable Product Entrepreneurs are everywhere Smallest product that helps entrepreneurs start the process of learning as quickly as possible Entrepreneurship is management On early adopters: Validated learning “They accept – in fact prefer – an 80 percent solution” 4 Build-Measure-Learn Innovation accounting Media, digital innovation & change management – Alexandre Michelin & Emmanuel Fraysse
- 10. Measure: Innovation Accounting Entrepreneurs are everywhere “To improve entrepreneurial outcomes, and to hold entrepreneurs accountable, we need to focus on the Entrepreneurship is boring stuff: how to measure progress, how to setup management milestones, how to prioritize work. This requires a new kind of accounting, specific to startups.” Validated learning 3 Learning Milestones 1. Establish real data on company’s current status 2. Moving towards the ideal from baseline 4 Build-Measure-Learn 3. Pivot or Persevere Innovation accounting Media, digital innovation & change management – Alexandre Michelin & Emmanuel Fraysse
- 11. Learn: Pivot or Persevere Entrepreneurs are everywhere Zoom-in pivot Entrepreneurship is Zoom-out pivot management Customer segment pivot Customer need pivot Platform pivot Validated learning Business architecture pivot Value capture pivot Engine of growth pivot 4 Build-Measure-Learn Channel pivot Technology pivot Innovation accounting Media, digital innovation & change management – Alexandre Michelin & Emmanuel Fraysse
- 12. Innovation Accounting Entrepreneurs are everywhere Caution against vanity metrics Entrepreneurship is management Use the right metrics 1. Actionable: clear cause and effect 2. Accessible: easy to understand and accessible 3. Auditable: data must be credible Validated learning Build-Measure-Learn 5 Innovation accounting Media, digital innovation & change management – Alexandre Michelin & Emmanuel Fraysse
- 13. Engines of growth Sticky engine of growth Viral engine of growth Paid engine of growth Media, digital innovation & change management – Alexandre Michelin & Emmanuel Fraysse
- 14. Interested in « Digital Innovation & Change Management » ? Join us! http://www.facebook.com/groups/ 147660378706739/ Media, digital innovation & change management – Alexandre Michelin & Emmanuel Fraysse