how to run your library like a startup

How to Run Your Library Like a Startup

June 3, 2015Helen Kula & M.J. D’Elia

welcome

Helen Kula@helenkula

U of Toronto Mississauga

M.J. D’Elia@mjdeliaUniversity of Guelph

• Context• Five strategies• Discussion

Agenda

• Introduce startup thinking• Suggest practical steps to get started• Invite discussion

Objectives

Libraries are NOT startups

No revenue model

Libraries are NOT startups

Institutional complexity

Legacy systems

Analog and digital

Inherited tradition

The case for startup thinking

The case for startup thinking

Limited resourcesConditions of uncertainty

Platform building

Anticipate change

Commitment to mission

Startup Myths

Entrepreneurs love risk

They use processes to reduce risk

Entrepreneurs rely on intuition

They use data to make decisions

Entrepreneurs launch fully formed businesses

Entrepreneurs commit to iterative improvement

Startups are focused on learning quickly. They offer valuable approaches thatwe could translate to our context.

Premise

five strategies

1. Focus on the problem

Understand the core challenge yourcustomers are trying to solve.

Focus on the problem

• What are they trying to do? Why?• What pains are they experiencing?

• Get out of the building• Listen more, talk less• Seek out non-users• Gather and evaluate feedback

How to focus on the problem

A fundamental change in strategy based on validated learning; a course correction.

Pivot

(Ries, 2011)

Be prepared …to be humbled

2. Build for the few

Focus development on one or two key groups who will benefit from the service.

Build for the few

• Who stands to gain the most? • Which groups are easiest to reach?

• Choose customers who share a need• Choose customers you can access• Find early adopters• Invite them to co-create

How to build for the few

Breaking down a larger market into smalleridentifiable groups of users who sharespecific needs.

Segmentation

(Cooper & Vlaskovits, 2010)

Be prepared…for pressure to increase scope

3. Build-measure-learn

Iterate and improve your approach based on what you learn.

Build-measure-learn

• Which assumption can you test next?• What can you build to test it?

• Build successive prototypes• Monitor user behavior• Run A/B tests

How to build-measure-learn

A product or service with just enoughfeatures that allow it to reach the market.

Minimum Viable Product

(Ries, 2011)

Be prepared…to accept imperfection

4. Monitor key metrics

Track data that indicate the ongoinguse of the product or service.

Monitor key metrics

• Which data are essential?• How can you measure impact?

• Choose key data points to track• Monitor data frequently• Make changes based on data

How to monitor key metrics

Monitoring key metrics in (near) real-time to track core elements of the business.

Dashboarding

(Komisar & Mullins, 2009)

Be prepared…to abandon your library stats

5. Articulate your value

Communicate the benefits that you generatefor your customers clearly and precisely.

Articulate your value

• Why would people choose you?• What’s in it for your customers?

• Make your value explicit• Be succinct• Tailor your value to each segment• Internalize values with staff

How to articulate your value

The bundle of products and services thatcreate value for a specific customer segment

Value proposition

(Osterwalder & Pigneur, 2010)

Be prepared…for disagreement

wrap

• Focus on the problem• Build for the few• Build-measure-learn• Monitor key metrics• Articulate your value

Five strategies (review)

Discussion

Blank, S. (2014). Steve Blank [blog]. Retrieved from http://steveblank.com

Blank, S. & Dorf, B. (2012). The Startup Owner’s Manual. Pescadero, CA: K&S Ranch

Cooper, B. & Vlaskovits, P. (2010). The Entrepreneur’s Guide to Customer Development. Newport

Beach, CA: Cooper-Vlaskovits

Komisar, J. & Mullins, R. (2009). Getting to Plan B. Cambridge, MA: Harvard Business.

MaRS. Entrepreneur’s Toolkit. Retrieved from http://www.marsdd.com/entrepreneurs-toolkit/

Mathews, B. (2012, April). Think like a Startup [white paper]. Retrieved from

http://vtechworks.lib.vt.edu/handle/10919/18649

Osterwalder, A. & Pigneur, Y. (2010). Business Model Generation. Hoboken, NJ: Wiley

Ries, E. (2011). The Lean Startup. New York: Crown.

References