lean startup zurich- an introduction to lean startup methodology

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An Introduction to the Lean Startup Methodology

What?

The Lean Startup Methodology (LSM) is an approach for launching products/services Based on Japanese lean manufacturing principles

The LSM relies on validated learning, experimentation, and iterative product releases to: Shorten product development cycles Constantly measure progress Gain valuable customer feedback

We have a fast development cycle so that we’re constantly offering products/services that customers want.

With LSM you ideally don’t spend too much time/money creating things customers aren’t interested in.

Using the LSM you fall fast and fall cheap

Why?

We eliminate uncertainty

We work smarter, not harder

We create order With LSM you have the tools to constantly test your vision

How?

Hypothesize

Step One: Create a hypothesis for your product or service

You might have ideas about product features or who your customer base is Nothing has been tested, these

are still ideas

Build

Step Two: Build a basic version of your product

A minimum viable product (MVP) is the version of a new product which allows a team to collect the maximum amount of validated learning about customers with the least effort Prototype Website Design Mockup Video Describing Your Product

MVP

Measure

Step Three: Get your product out there and measure the results Web Page Analytics: How are people interacting with your site Videos: Number of views and comments Landing Pages: How many people sign up? User Testing A/B Testing: What do people respond to?

“Vanity metrics make you feel good but don’t offer clear guidance on what to do” Eric Ries, The Lean Startup

Learn

Step Four: Take your data and analyze it What did customers respond to? What didn’t they respond to? What created value? What diminished value?

Does my data validate my hypothesis?

Pivot vs. Persevere

Once we’ve analyzed our data we can decide to:

Pivot Something is fundamentally wrong and we need to change our

hypothesis

Persevere Stay the course and continue on with our existing hypothesis

Repeat

Resources

The Lean Startup by Eric Ries

Theleanstartup.com

Wikipedia: Lean Startup, Validated Learning

Slideshare: Lean Startup Zurich-MVP/Idea Validation

Repeat