Delivered to MBA students at Imperial College London. This session covered what Lean Product Development and Management entails, whilst covering the facets of lean including Agile, Lean Startup, Customer Development and more.

1. LEAN PRODUCT
DEVELOPMENT
CRAIG STRONG

3. S&P 500 index has decreased from 61
years in 1958 to just 18 years today

4. ANNUAL PERFORMANCE TRAP
Jeremy Hope, 2003. Beyond Budgeting: How Managers Can Break Free from the Annual Performance Trap. Edition. Harvard Business Review Press.

5. UNCERTAINTY—IN THE ECONOMY, SOCIETY, POLITICS—
HAS BECOME SO GREAT AS TO RENDER FUTILE, IF NOT
COUNTERPRODUCTIVE, THE KIND OF PLANNING MOST
COMPANIES STILL PRACTICE: FORECASTING BASED
ON PROBABILITIES
Peter Drucker
THE NEED FOR ADAPTIVE MANAGEMENT

6. TRADITIONAL MODELS ARE CHANGING

7. LEAN
PRODUCT
DEVELOPMENT

8. LEAN UX - JEFF GOTHELF & JOSH SEIDON
1. DESIGN THINKING
2. LEAN STARTUP
3. AGILE UX & DEV

9. DESIGN THINKING
1. DESIGN PRINCIPLES
2. HUMAN-CENTRED EMPATHY
3. CONTEXTUAL ENQUIRY
4. IDEATION
5. PROTOTYPING
6. CUSTOMER CO-DESIGN

10. LEAN STARTUP
1. HYPOTHESES DRIVEN
2. VALIDATED LEARNING
3. MVP
4. BUILD - MEASURE - LEARN
5. FAIL FAST & PIVOT

11. AGILE DEVELOPMENT
1. SPRINTS/ITERATIONS
2. INSPECT & ADAPT LEARNING
3. USER STORIES/PRIORITISED BACKLOGS
4. CROSS-FUNCTIONAL TEAMS
5. AGILE PRINCIPLES

12. AGILE DEVELOPMENT

13. REMEMBER, IF WE’RE BUILDING SOMETHING THAT
NOBODY WANTS, IT DOESN’T MATTER IF WE’RE DOING IT
ON TIME AND ON BUDGET
Eric Ries
LEAN STARTUP

14. AGILE AND LEAN PRODUCT DEVELOPMENT APPROACH

15. SMALLER, FASTER DELIVERY CYCLES = INCREASED AND FASTER LEARNING
http://bitly.com/deliveringvalueicl

16. “THE LEAN STARTUP METHOD TEACHES YOU HOW TO
DRIVE A STARTUP-HOW TO STEER, WHEN TO TURN, AND
WHEN TO PERSEVERE-AND GROW A BUSINESS WITH
MAXIMUM ACCELERATION.”
http://theleanstartup.com/principles
LEAN STARTUP

17. LEAN STARTUP

18. CUSTOMER

19. LEAN PRODUCT LIFECYCLE

20. SEARCH & EXECUTE ARE DIFFERENT

21. NON-LINEAR PROCESS

22. VERSION OF A NEW PRODUCT WHICH ALLOWS A TEAM TO
COLLECT THE MAXIMUM AMOUNT OF VALIDATED
LEARNING ABOUT CUSTOMERS WITH THE LEAST EFFORT
LEAN STARTUP
WHAT IS AN MVP

23. MINIMAL VIABLE PRODUCT
MVP IS A
PROCESS NOT A
PRODUCT

24. MINIMAL VIABLE PRODUCT

25. MVP’S IS A PROCESS

26. BUSINESS MODEL CANVAS
Alex Osterwälder & Yves Pigneur
• Innovation Tool
• Lightweight, Visual and Flexible
• Collaborative And Responsive

27. YOUR PRODUCT IS NOT THE PRODUCT
1. It is important to realise that a product or service idea is not
sufficient for success.
2. You could have a good idea, but if you do not have a good
business model to support it, then your business will fail.
3. It is not enough to just have a good product, it must be
delivered to customers in a manner that is sustainably
profitable.
A lot of people focus too much on just the product.
4. But the same amount of effort needs to be put into developing
the business model.

28. BUSINESS MODEL CANVAS

29. THE ESPRESSO BUSINESS MODEL

30. BUSINESS MODEL CANVAS - NESPRESSO

31. BUSINESS MODEL
The canvas is
NOT a
business plan

32. BUSINESS MODEL DESIGN

33. LOCAL MAXIMA

34. EXPERIMENTATION - LEARN FAST
1. Pick riskiest assumption from Business Model Canvas
2. Brainstorm a few different tests, offline and online
3. Try to break the test into even smaller units of work
4. Choose test & define testable hypothesis
5. Set a goal (minimum success criteria)
6. Run the test (try to hit the goal)
7. Review results and make a decision

35. HYPOTHESES
“I/We Believe….” [target market]
“Will” [do this action/use this solution]
“For” [this reason]

36. SUCCESS CRITERIA
“We will know we are right when ”
[minimum success criteria]

37. EXAMPLE

38. EXAMPLE

39. PIVOTING
Eric Ries (2011) The Lean Startup
• Zoom-in Pivot
• Zoom-out Pivot
• Customer Segment Pivot
• Customer Need Pivot
• Platform Pivot
• Business Architecture Pivot
• Value Capture Pivot
• Engine Of Growth Pivot
• Channel Pivot
• Technology Pivot

40. INSTAGRAM

41. INSTAGRAM
https://blog.kissmetrics.com/kevin-systrom/

42. ZOOM IN PIVOT

43. LEARN FAST THE LEAN WAY

44. LEAN PRODUCT DEVELOPMENT
KEY TAKEAWAYS
1. MVP is a process not a product
2. Searching and Executing are different
3. Product development and Product Lifecycle's are Non-Linear
4. BUILD-MEASURE-LEARN
5. Learn Fast By Delivering Often, testing your Riskiest
Assumptions First

45. IT’S BEEN A PLEASURE
THANK YOU
craig@strongandagile.co.uk
@craigstrong
uk.linkedin.com/in/craigstrong/