lean startup & analytics
Post on 27-Jan-2015
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Speaker Series
RUNNING LEAN
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Lean Startup Lean Analytics
A BIT ABOUT ME • SERIAL ENTREPRENEUR
• MENTOR & ADVISOR
• BIG BELIEVER IN LEAN…
Running Lean Powers the Best Startups
The Seven Myths of Lean Startups
#1: Lean means cheap Sure it’s cheaper to start companies but it still costs money to scale them.
The lesson is simply this: know when to hack and know when to scale.
#2: Lean means small You need a Big Vision to Win. DREAM BIG!
#3: Lean means, well…crappy An MVP is meant to be a minimalistic version of your product, but it also has to be viable.
#4: Pivot is a Bad Word The future is a road paved with changes ahead.
Don’t be afraid to Pivot Listen to what you’re the market is telling you.
A Classic Pivot Money transfer via a Palm Pilot. Sounds crazy, right?
Eventually became PayPal In October 2002, PayPal was acquired by eBay for $1.5-Billion
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#5: Lean is only for consumer startups Lean Startup has gained most of its adoption amongst consumer startups, but it applies across the board.
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#6: Lean means easy Startups are hard. Lean simply helps mitigate risk and clear the path a bit more, but it’s not easy.
#7: Lean means instant success You can’t walk through the process and expect to win. It takes guts, luck, brains and much, more more.
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#1: Lean doesn’t mean cheap #2: Lean doesn’t mean small #3: Lean doesn’t mean crappy #4: Don’t be afraid to pivot #5: Lean isn’t only for consumer startups #6: Lean doesn’t mean easy #7: Lean doesn’t mean instant success
The Seven Myths of Lean Startups
Lean does mean making informed decisions.
For most startups, lean means measuring: 1. Acquisition 2. Activation 3. Retention 4. Referral 5. Revenue
Not listening to what the metrics are telling you
can spell disaster.
Know When to Pivot Lack Revenue| High Churn| Poor Conversions
Know When to Scale Adoption | Conversions| Market Share
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Lean means stop guessing Finding that one metric that tracks your progress towards a goal.
Balancing Act Most successful entrepreneurs have a good balance of execution intuition and luck.
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Most startups fail because the founders give up
Hard Work Pays Off…So Don’t Give Up!
Recommended Reading Lean Startup | Lean Analytics | Running Lean
Some of the photographs in this presentaNon were retrieved from Flickr and made available under a CreaNve Commons license. Please refer to each photograph for a link to the image source.
Contact Me: E-Mail: jthompson@about.me Twitter: @thomjeff
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