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Lean Startup Introduction @JaumeTeixi Barcelona 29/03/2012 Lean Startup BCN :: Inaugural Meeting

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Lean Startup BCN Inaugural Meeting La Salle ~ Barcelona 29/03/2012 Lean Startup BCN @LeanStartupBCN

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Page 4: Introduction to Lean Startup » Lean Startup Barcelona

Startup

A startup is an organization formed to search for a repeatable and scalable business model.

2010, Steve Blank

A startup is a human institution designed to deliver a new product or service under conditions of extreme uncertainty.

2010, Eric Ries

Page 5: Introduction to Lean Startup » Lean Startup Barcelona

Customer Development

Test the founders hypothesis about the customer problem

Test if the product concept and minimum feature set solve that problem

Steve Blank

Page 6: Introduction to Lean Startup » Lean Startup Barcelona

Lean Startup

The use of platforms enabled by Open Source and Free Software

The application of Agile Development Methodologies

Ferocious customer-centric Rapid Iteration, as exemplified by the Customer Development process.

2008, Eric Ries

Page 7: Introduction to Lean Startup » Lean Startup Barcelona

#lsbcn

Page 8: Introduction to Lean Startup » Lean Startup Barcelona

The Lean Startup - Why?

assumptionsIt’s Obvious that Everybody Wants It!...Obviously with All this Features!...and sure with this Pricing Model!

...discover too late that there aren’t customers!Value of The Idea = 0.00*Validated Product has Value! > 0.00*

Page 9: Introduction to Lean Startup » Lean Startup Barcelona

The Lean Startup - Path To Success

Fail, Iterate, Don’t Give Up, but Learn !

Bounce Back ...Until You Find Product/Market Fit

...Without Running Out of Money

Page 10: Introduction to Lean Startup » Lean Startup Barcelona

The Lean Startup

Page 11: Introduction to Lean Startup » Lean Startup Barcelona

The Lean Startup

Product Development Team Tackles the Solution

in parallel with

Customer Development Team Testing The Problem-Customer-Solution Assumptions

Page 12: Introduction to Lean Startup » Lean Startup Barcelona

Agile Software Development

Use of Open Source Frameworks, Tools

Code, Test Permanently->Continuous DeploymentDocument Meanwhile

Kanban BoardBacklog -> In Process -> Finished -> VALIDATED

blossom.io kanbanery.com

Page 13: Introduction to Lean Startup » Lean Startup Barcelona

Customer Development

1) Search for a Business (iterate) Customer Discovery pivoting Customer Validation

2) Growth a Business (execution) Customer Creation

Company Building

Page 15: Introduction to Lean Startup » Lean Startup Barcelona

MVP Minimum Viable Product

Ask Minimal Required Needs toPotential Customers/Early Evangelists

Collect the maximum amount of validated learning about customers with the least effort

1) What are you trying to Learn? 2) With which Data? 3) What Measures Success/Failure?

Page 16: Introduction to Lean Startup » Lean Startup Barcelona

Metrics

Vanity Metrics vs Actionable Accessible Auditable

Page 17: Introduction to Lean Startup » Lean Startup Barcelona

Pivot Or Persevere

Your Idea is Probably Wrong

A Pivot is a special kind of change designed to test a new fundamental hypothesis about the product, business model, and engine of growth

Nintendo ~ From Hanafuda CardsPayPal ~ From Palm Money WalletFlickr ~ From MMO

Page 18: Introduction to Lean Startup » Lean Startup Barcelona

Lean Startup 5 Principles

Page 19: Introduction to Lean Startup » Lean Startup Barcelona

Lean Startup 5 Principles

1 Entrepreneurs Are Everywhere

The goal is NOT to optimize for profit, margin, or growth.

The goal is that any change that accelerates learning is a win, and everything else is waste.

Page 20: Introduction to Lean Startup » Lean Startup Barcelona

Lean Startup 5 Principles

2 Entrepreneurship is Management

A set of management principles that seek to test assumptions and eliminate unknowns.

By talking to customers… By building simple products… By measuring the effect of our work...

Page 21: Introduction to Lean Startup » Lean Startup Barcelona

Lean Startup 5 Principles

3 Validated Learning

Constantly experimenting with new product features and product marketing to increase the yield on each new crop of customers they bring in.

Learn what works and what doesn't.

Page 22: Introduction to Lean Startup » Lean Startup Barcelona

Lean Startup Principles

4 Innovation Accounting

1) Use a minimal viable product MVP

2) From the Baseline to the Ideal

3) Persevere or Pivot

Page 23: Introduction to Lean Startup » Lean Startup Barcelona

Lean Startup 5 Principles

5 Build-Measure-Learn

Ideas -> Code -> Data

theleanstartup.com/principles

Page 24: Introduction to Lean Startup » Lean Startup Barcelona

Lean Startup Top 5 Myths

Page 25: Introduction to Lean Startup » Lean Startup Barcelona

Lean Startup Top 5 Myths

Myth 1 Lean means cheap. Lean startups try to spend as little money as possible.

The Lean Startup method is not about cost, it is about speed.

Page 26: Introduction to Lean Startup » Lean Startup Barcelona

Lean Startup Top 5 Myths

Myth 2 The Lean Startup methodology is only for Web 2.0, Internet and consumer software companies.

The Lean Startup methodology applies to all companies that face uncertainty about what customers will want.

Page 27: Introduction to Lean Startup » Lean Startup Barcelona

Lean Startup Top 5 Myths

Myth 3 Lean Startups are bootstrapped startups.

What differentiates them is their disciplined approach to determining when to spend money.

Page 28: Introduction to Lean Startup » Lean Startup Barcelona

Lean Startup Top 5 Myths

Myth 4 Lean Startups are very small companies

Established companies have as much to gain from lean startup techniques as the mythical “two guys in a garage”

Page 29: Introduction to Lean Startup » Lean Startup Barcelona

Lean Startup Top 5 Myths

Myth 5 Lean Startups replace vision with data or customer feedback

Lean Startups are driven by a compelling vision, and they are rigorous about testing each element of this vision against reality.

http://reut.rs/GXW3Vd

Page 30: Introduction to Lean Startup » Lean Startup Barcelona

#lsbcn

Page 32: Introduction to Lean Startup » Lean Startup Barcelona

Thank You!

@JaumeTeixiBarcelona

29/03/2012

Lean Startup BCN :: Inaugural Meeting