Ideas from top minds in Lean Startup supported by our own experience. Key principles, recommended reading and practical tips. Presentation prepared for the workshop Bootstrapping/Lean Startup workshop by westartup.

1. Lean StartupIdeas stolen from clever people, and a bit of my own experience Leo Exter, founder @ westartup

2. Copyright clearance € 20,000,000,000 market € 7,500,000 investment 23 employees

3. Sold for € 300,000. But there IS a better way.

4. 4 Link

5. Three trends behind Lean Startup Technology commoditization Agile software development Customer development Link: Eric Ries, The Lean Startup

6. The consumer is not a moron, she is your wife. David Ogilvy

7. Most consumers can only chose from known options. They don’t imagine new things. That’s your job! Leo Exter

8. Insight into specific consumer needs

9. Start by doing research Link: speech by Manuel Rosso, CEO Food on the Table

10. Practical tip on research #1: observe behavior

11. Practical tip on research #2 Ask why 5 times. Find some truth every time. Act on every bit of truth!

12. Classic startup fallacy: “ship it and see what happens.” Eric Ries Trap I fell into… twice. Leo Exter Link: Eric Ries, A month is 15 weekends

13. 13 Let data influence ideas for next turn through loop Implement ideas in the best way possible. Measure what happened, as quickly as possible. Link: Eric Ries’s blog

14. Minimum Viable Product is… … that version of a new product which allows a team to collect the maximum amount of validated learning about customers with the least effort. Link: Minimum Viable Product: a guide

15. Build a product that helps make decisions Choose the relevant key metric Actionable Quantifiable Conversion is a good one ;)

16. Practical tip on research #3 A/B testing

17. Or… do it backwards Start with a broken end-user process Fine-tune your solution on paper THEN develop code Link: speech by Manuel Rosso, CEO Food on the Table

18. Key term: PIVOT (rotate around an axis)

19. Change an element of your… Customer / problem /solution hypotheses business model Link: Eric Ries - Pivot, don't jump to a new vision

20. 3 kinds of pivots Segment pivot Solve similar problem for a different set of customers Customer problem pivot Solve different problem for the same customer segment Feature pivot Choose a feature that works well, and reorient the whole company around that

21. Link: speech by Drew Houston, CEO Dropbox

22. Mandatory reading.

23. Link

24. The Good Book Link

25. Brent Cooper Link

26. Link: Brant Cooper – What is customer development

27. Thank you! Web: www.westartup.eu Email: leo.exter@westartup.eu Twitter: @westartup Facebook: www.facebook.com/westartup