introduction to lean startup
DESCRIPTION
An introduction of three key concepts of the Lean Startup methodology. Presented at Lean Startup Circle Asheville on April 10, 2013.TRANSCRIPT
Introduction to Lean Startup
by Trevor Lohrbeer
@FastFedora
FastFedora.com
@LeanDecisions
LeanDecisions.com
What is Lean Startup?
A scientific approach to
building a business
in conditions of high uncertainty
Why Use Lean Startup?
1. Learn Effectively: Validated Learning
2. Launch Sooner: Minimum Viable Product
3. Innovate Faster: Continuous Innovation
4. Eliminate Waste: Minimum Viable Product
5. Reduce Risk: Validated Learning, Continuous
Innovation, Minimum Viable Product
Validated Learning
Old Way Do something Debrief Invent reasons for
results “Lesson Learned”
(but not really)
New Way Make a hypothesis Create experiment Run experiment Analyze results Hypothesis either
validated or not Lesson only learned
once validated
Example: What do customers value?
Idea: WordPress plugin that tells writers who read
their articles, not just who clicked on the headline.
Hypothesized Values
1. Measure engagement
2. Improve accuracy
3. Optimize marketing
4. Charge more
Potential Headlines To Test
1. Write Engaging Articles
2. Are Your Articles Engaging?
3. Does Anyone Read Your Blog?
Minimum Viable Product (MVP)
The simplest product or service
that provides value to a customer
Old Way Research the market Build the entire
product or service Launch Find out if you can
sell it
New Way Build a minimum
product or service Attempt to sell it Iterate based on what
you learned
Example: MVP
Continuous Innovation
Measure
Learn Build
MVPData
Ideas
Thanks for attending!
Trevor Lohrbeer
@FastFedora
FastFedora.com
@LeanDecisions
LeanDecisions.com