brisbane lean startup meetup - kickoff discussion
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Brisbane Lean Startup Meetup, Kickoff Discussion. Includes quick crash course on what lean startups are all about!TRANSCRIPT
10 April 2023 Brisbane Lean Start-Up Meetup 2
Kickoff Discussion
• Background• Why Lean Startups?• What do people want or expect out of the
meetups?• Opportunities to get a bit more hands-on with the
meetups• Brilliant ideas for upcoming meetups• Anything else that pops to mind …
10 April 2023 Brisbane Lean Start-Up Meetup 3
Why Lean Startups?
“ Most startups fail because they didn’t develop their market, not because they didn’t develop their product ”
Brant Cooper & Patrick VlaskovitsThe Entrepreneur’s Guide to Customer Development
10 April 2023 Brisbane Lean Start-Up Meetup 4
Entrepreneurs often fail to ask …
• What industry will we be competing in? Who does what and where might we fit? Who might work with me? Where and where might we fit? Who might work with me? Where are the 800 pound gorillas?
• Who will pay money for my product? Who has a problem in need of my solution? Where should I focus my product and business? Who is my target market?
• Do I have a winning product? How compelling is my product offer? How compelling are my competitors? How are we differentiated?
• How much should I charge? How much will they pay? How much do I need?
• How many will we sell? Estimating demand.
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Why Lean Startups?
Source: Cooper B. & Vlaskovits P, The Entrepreneur’s Guide to Customer Development
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Trial and Error …
• About: Makes mobile products for “social music”• Vision: Music is a social experience (all music is about
playing, usually socially)• Team: B2B enterprise software guys• The Journey: Clear vision, realisation anything but …
Source: Cooper B. & Vlaskovits P, The Entrepreneur’s Guide to Customer Development
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Trial and Error …
Mobile Analytics
Engine
Virtual Cigarette Lighter ... 3% usage
Virtual fire cracker ... up to 20%
Real time voice shifter ... think Darth Vader
Shared Musical Experience
Test a theory, then iterate and test again
Does the technology work? Does the distribution work? Is there a value proposition?
Calibrate
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Build-Test-Measure
• About: Solutions for sending receiving and tracking large files
• Vision: Help frustrated users exchange large files or important documents with remote colleagues, partners and clients
• Founder: Engineer and marketing executive• The Journey: Business modeling by trial and error
Source: Cooper B. & Vlaskovits P, The Entrepreneur’s Guide to Customer Development
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Build-Test-Measure
Discovered pain of sharing large files
through email
Confirmed pain by socialising with IT
people who helped frustrated
users
Simple website to allow sending
large files by email in 15 secs
Free access to creative professionals such as
photographers & videographers
Over 1M unique visitors per month
after 1 year
Seed Capital
Over 6M unique visitors per month after another year
ADVERTISINGBusiness Model
Ad versus Paid User“Bake-off”
Tested price, messaging, positioning and channels
Lost one third of traffic
Focused on core paying customers
SUBSCRIPTION Business Model
Series A
10 April 2023 Brisbane Lean Start-Up Meetup 10
Build-Test-Measure
Discovered pain of sharing large files
through email
Confirmed pain by socialising with IT
people who helped frustrated
users
Simple website to allow sending
large files by email in 15 secs
Free access to creative professionals such as
photographers & videographers
Over 1M unique visitors per month
after 1 year
Seed Capital
Over 6M unique visitors per month after another year
ADVERTISINGBusiness Model
Ad versus Paid User“Bake-off”
Tested price, messaging, positioning and channels
Lost one third of traffic
Focused on core paying customers
SUBSCRIPTION Business Model
Series A
TODAY20M registered users in
193 countries
10 April 2023 Brisbane Lean Start-Up Meetup 11
Key ‘Lean Start-Up’ Principles
• Entrepreneurs are everywhere – an approach for any size company, sector or industry
• Entrepreneurship is management – start-ups are not just about products, it is about managing for extreme uncertainty
• Validated learning – start-ups exist to learn how to build a successful businesses
• Build-Measure-Learn – turn ideas into products, measure how customers respond, learn to pivot or persevere
• Innovation Accounting – know how to measure start-up progress
Source: Ries E. , The Lean Startup
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Back to the Agenda …
• What do people want or expect out of the meetups?
• Opportunities to get a bit more hands-on with the meetups
• Brilliant ideas for upcoming meetups• Anything else that pops to mind …
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To Learn More
• Reading Materials– The Lean Startup, Eric Ries– The Entrepreneur’s Guide to Customer Development, Brant Cooper and
Patrick Vlaskovits– The Four Steps to Epiphany, Steve Blank– The Startup Owner’s Manual, Steve Blank (Coming Soon)
• Online– Lean Startup Wiki: http://leanstartup.pbworks.com – Mailing List: http://leanstartupcircle.com
• Forums– Startup Lessons Learnt: http://sllconf.com – Local Meetups – Silicon Beach, BarCamp