Validating assumptions that underline a business idea is critical to the success of a new venture. Lean Startup approach encourages iterative experimentation that allows to deliver maximum value to customers with minimum amount of waste. In this presentation I will outline how tools such as Business Model Canvas and Validation Board allow entrepreneurs to structure their thoughts and experiments.

1. Validating business ideas
quickly with Lean
Tadas Labudis
Product Manager @Labudis

2. About me
• Did a business degree
• Taught myself coding
• Co-organised 3 hackathons and participated
at 2
• Founded an e-commerce store
• Co-founded a consumer tech startup
• Now working at Kotikan

3. Lean startup approach

4. "Lean Startup” is a process for validating
and invalidating your assumptions as
quickly as possible to discover and
deliver what people actually want.

5. Customer discovery
process

6. Basis of a business idea
? ? ?
Customer Problem Solution

7. Startups start with…
?
Customer Problem Solution

8. Startups often do this
Customer Problem Solution

9. Startups often do this
wtf?
Customer Problem Solution

10. But should do this
Customer Problem Solution

11. But should do this
gimme da
cookie!
Customer Problem Solution

12. How to validate
assumptions?

13. MVP

14. What’s an MVP?
Minimum Viable Product
The Minimum Viable Product (MVP) 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.
- Eric Ries

15. MVP ≠ Product
Minimum Viable Product Experiment

16. How to structure
experiments?

17. Business Model Canvas

18. Business Model Canvas

19. Business Model Canvas

20. Validation Board

21. Validation Board

22. Validation Board

23. Validation Board

24. Validation Board

25. Validation Board

26. Validation Board

27. Build-Measure-Learn

28. Build
ideas product
Learn Measure
data
vision

29. Build
ideas product
Learn Measure
data
assumptions
speed!
vision

30. The goal
• Maximise value
• Minimise waste
… or creating more value for customers with fewer resources

31. Examples of MVPs
• Customer Interviews
• Landing Page Test
• Prototypes
• Concierge/Wizard of Oz
• A/B Tests

32. Customer interviews
• E-mail conversations
• Phone interviews
• Face-to-face interviews

33. Landing page test

34. Landing page test

35. Wizard of Oz

36. Wizard of Oz

37. Wizard of Oz
• 75,000 signups overnight

38. Wizard of Oz
• 75,000 signups overnight
• People want it

39. Wizard of Oz
• 75,000 signups overnight
• People want it
• Why? “it works like magic”

40. Wizard of Oz
• 75,000 signups overnight
• People want it
• Why? “it works like magic”
• Persevere with the idea

41. A/B tests

42. Links
• Business Model Canvas
goo.gl/ooXTGY
• Validation Board
goo.gl/CzUDyJ
• Book: Lean Startup by Eric Ries
theleanstartup.com/book

43. Join Kotikan
kotikan.com/aboutus/careers

44. Good luck!
Follow me @Labudis

45. deliver the
cookies!
Good luck!
Follow me @Labudis