1. The Lean Startup#leanstartup “Innovation through experimentation” Eric Ries (@ericries) http://StartupLessonsLearned.com

2. Most Startups Fail

3. Most Startups Fail

4. Most Startups Fail

7. I’

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

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

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

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

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

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

18. Minimize TOTAL time through the loop

19. 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

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

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

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

24. 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

26. The Lean Startup to be published by Crown in Fall, 2011

27. Pre-order now: http://lean.st

28. Startup Lessons Learned Blog

29. http://StartupLessonsLearned.com

30. Getting in touch (#leanstartup)

31. http://twitter.com/ericries

32. eric@theleanstartup.com

33. Additional resources

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

37. At IMVU time from check-in to production = 20 minutes

38. Tell a good change from a bad change (quickly)

39. Revert a bad change quickly

40. And “shut down the line”

41. Work in small batches

42. At IMVU, a large batch = 3 days worth of work

44. Everyone has a complete sandbox

45. Continuous Integration Server (BuildBot)

46. All tests must pass or “shut down the line”

47. Automatic feedback if the team is going too fast

48. Incremental deploy

49. Monitor cluster and business metrics in real-time

50. Reject changes that move metrics out-of-bounds

51. Alerting & Predictive monitoring (Nagios)

52. Monitor all metrics that stakeholders care about

53. If any metric goes out-of-bounds, wake somebody up

54. Use historical trends to predict acceptable bounds

55. When customers see a failure

56. Fix the problem for customers

57. Improve your defenses at each level