2015 introduction to lean startup

Introduction to

Lean StartupJanice Fraser jfraser@pivotal.io

@clevergirl (twitter)

2015

(c) copyright 2014 Janice Fraser

Live tweet this workshop.

@clevergirl #leanstartup

(c) copyright 2014 Janice Fraser

3 Pivotal Points In Time…and a fourth

How do you approach a typical project?

Analysis

Feedback

Revise

Budget

Approval

Execute

Measure

Plan

Stakeholders

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JUNE & PETE’S Wedding Cake

A STORY

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JunePete

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April

May

June

July

August

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sedonaweddingcakes.com

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freebestpictures.blogspot.com

(c) copyright 2014 Janice Fraser

thekitchn.com

(c) copyright 2014 Janice Fraser

Zoe Clark, The Cake Parlour

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sedonaweddingcakes.com

Zoe Clark, The Cake Parlour

(c) copyright 2014 Janice Fraser

Lean Startup

Lean Startup is…

An approach for building [companies] that are creating new products and services in situations of extreme uncertainty.

The approach advocates creating small products that test the creator’s assumptions, and using customer feedback to evolve the product, thereby reducing waste.

—Eric Ries, The Lean Startup

(c) copyright 2014 Janice Fraser

1. List your assumptions

2. Understand your customers

3. Get real product into the world

4. Adjust direction based on evidence

Everyone tends to get stuck

CHECK

MAKE

THINK

(c) copyright 2014, Janice Fraser

Plot the difference

THINK

MAKE

MAKE

MAKErelease

release

release

TIME

RIS

K =

UN

VALI

DAT

ED

EFF

OR

T

(c) copyright 2014, Janice Fraser

Lots of little wiggles

TIME

RIS

K =

UN

VALI

DAT

ED

EFF

OR

T

(c) copyright 2014, Janice Fraser

Each wiggle is a learning cycle

TIME

RIS

K =

UN

VALI

DAT

ED E

FFO

RT

MEASURE

BUILD

BUILD

LEARN

(c) copyright 2014, Janice Fraser

The Product Value Stack

Users

1.2.3.

Mary can...

Needs

Uses

Features

Deliver

LEARN

This Week

(c) copyright 2014, Janice Fraser

Sequencing Your Learning (warning: includes jargon*)

(c) copyright 2014, Janice Fraser

Person

Problem

Solution

How much does it cost?

Do they buy?

Can you find lots of customers?

Do your customers stay?

Problem/Solution Fit

Product/Market Fit

Acquire Users &

Grow Team* *

Loading up your question Backlog

(c) copyright 2014, Janice Fraser

• Do people have this problem?

• Do people want to solve this problem?

• Does my idea solve the problem?

• Do people want this solution?

• Will people pay for this solution?

• How much will people pay for this solution?

• Etc

• Etc

• Etc

Jargon: The MVP (MLP, MDP…M_P)

(c) copyright 2014, Janice Fraser

Don’t get hung up on: - Minimum - Viable - Product

What is an MVP? The smallest thing you can do/make to learn what you need to learn. A tool for answering a specific question.

What is not a MVP? A prototype. The final product. Great UX.

How do you pick the right MVP? Base your decisions on what will contribute to the quality and fidelity of learning, and the speed with which you will accomplish it. Aim for “right-sized” learning.

sketch by @katerutter

Thank you!

@clevergirl