introduction to lean startup by leo exter

Lean Startup

Ideas stolen from clever people, and a bit of my own experience

Leo Exter, founder @ westartup

Copyright clearance

€ 20,000,000,000 market

€ 7,500,000 investment

23 employees

Sold for€ 300,000.

But there IS a better way.

4

Link

Three trends behind Lean Startup

Technology commoditization

Agile software development

Customer development

Link: Eric Ries, The Lean Startup

The consumer is not a moron, she is your wife.

David Ogilvy

Most consumers can only chose from known options. They don’t imagine new things.

That’s your job!

Leo Exter

Insight into specific

consumer needs

Start by doing research

Link: speech by Manuel Rosso, CEO Food on the Table

Practical tip on research #1:

observe behavior

Practical tip on research #2

Ask why 5 times.

Find some truth every time.

Act on every bit of truth!

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

Let data influence ideas for next turn through loop

Measure what happened, as quickly as possible.

Implement ideas in the best way

possible.

Link: Eric Ries’s blog

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

Build a product that helps make decisions

Choose the relevant key metric

ActionableQuantifiable

Conversion is a good one ;)

Practical tip on research #3

A/B testing

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

Key term: PIVOT (rotate around an axis)

Customer / problem /solution hypotheses

business model

Link: Eric Ries - Pivot, don't jump to a new vision

Change an element of your…

3 kinds of pivots• Segment pivot

Solve similar problem for a different set of customers

• Customer problem pivotSolve different problem for the same customer segment

• Feature pivotChoose a feature that works well, and reorient the whole company around that

Link: speech by Drew Houston, CEO Dropbox

Mandatory reading.

Link

The Good Book Link

Brent Cooper Link

Link: Brant Cooper – What is customer development

Thank you!

• Web: www.westartup.eu • Email:         leo.exter@westartup.eu • Twitter: @westartup• Facebook: www.facebook.com/westartup