llp tecnico-class0
TRANSCRIPT
Agenda for Class 0
• Class introduction
• Weekly class scheduling
• Division in teams
• Effectuation
• Work for next week
LLP: Lean LaunchPad
The goal of the Lean LaunchPad is to impart an evidence-based methodology for scalable
startups that students can use for the rest of their careers.
Where is it Used?
• Stanford University: Stanford Technology Ventures Program
• UC Berkeley: Haas Business School
• NSF: Innovation Corps classes
• Columbia Business School
• many others...
Examples
• Speedmeet: http://www.slideshare.net/sblank/trust-score-final-2013-berkeley-video
• Autonomow: http://www.slideshare.net/sblank/autonomow-e245-final-presentation
LLP@Tecnico
• Experimental implementation in 2013/14
• Special track of an already established course on entrepreneurship
• Students work in teams of 4 to 6 students
• Teams work in a cohort of up to 5 teams
LLP@TecnicoExamples
• Hi!Fidelity Loyalty Program: https://youtu.be/X-AtxmXHL-8?list=PLFNqvUqW2S2Xp7RIta1udC-R90aFniqt4
• SwimPro Promotional Videohttps://youtu.be/3vcQ4fAhwBw?list=PLFNqvUqW2S2W_4fZ8itMm_vxodokR6att
Conditions to Attend• Learn and apply Business Model Canvas for a
product or a service
• Be willing to accept the flipped classroom model by following Steve Blank’s course on Udacity
• Be willing to complete 10 in person or skype interviews per week
• Be willing to develop prototypes (teams must have domain experts)
• Accept that all information presented in the class will be shared with the world
Instructors
• Prof. Luis Caldas de Oliveira([email protected])
• Prof. Miguel Amaral([email protected])
• Diogo Henriques([email protected])
Key Concepts
• Students are experts in their fields
• Advisors are technical consultants
• Mentors are business counselors
• Instructors are experts in the LLP model
Key Points
• Evidence-based entrepreneurship (not “faith-based”)
• Students need to “get out of the building”
• Time management: intense and fast
• Community: every class member must actively comment the other teams
Syllabus
• A 3 hour class per week
• Each team must prepare a 10 min presentation per week
• Office hours: 20 min/team every 2 weeks
Mandatory Office Hours with Partners, a Mentor dedicated to team, uses LPC for review, Advisors as domain experts
Lean LaunchPad
1 week before
Mentorship
Product Continual Revisions to MVP based on Customer Discovery
Customer Discovery
Team presents weekly in front of cohort, formal curriculum, Optional: Office space, weekly dinners w/guest speakers
10-15 customer interviews/week, present results in front of peers
FramingHypotheses
Education / Community
Application by BMC, Initial Canvas, Updated Weekly Canvases
Lessons Learned What we thought, what we did, what we found, what’s next.
Before Each Class• Talk to 10 customers about lecture (n-2)
• Update narrative and canvas (n-2)
• Revise MVP based on findings about (n-2)
• Prepare presentation with findings about (n-2)
• Formulate hypotheses about (n-1)
• Prepare interviews about (n-1)
• Talk to mentors and advisors
• Watch Udacity lecture (n)
Grading
• 15% for individual participation
• 40% for Out-of-the-building Customer Discovery progress
• 20% Team weekly presentation
• 25% Team final presentation
References
• Business Model Generation, Osterwalder & Pigneurhttp://www.businessmodelgeneration.com/downloads/businessmodelgeneration_preview.pdf
• The Startup Owner’s Manual, Blank & Dorf
• How To Build a Startup – Udacityhttps://www.udacity.com/course/ep245
Weekly Class
• 3 hours preferably starting at 5 PM
• All teams must be present
• Some members maybe away for part of the class
• All members must present during team presentation
Teams
• LLP objective is to simulate the challenges of creating a business in “real life”
• Teams should be as diverse as possible
• Students need to be trained in handling the challenges of professional teamwork
Bird-in-hand
What is effectuation? Version 0.9. Copyright © 2011 The Rector and Visitors of the University of Virginia
Affordable Loss
What is effectuation? Version 0.9. Copyright © 2011 The Rector and Visitors of the University of Virginia
Lemonade
What is effectuation? Version 0.9. Copyright © 2011 The Rector and Visitors of the University of Virginia
Patchwork Quilt
What is effectuation? Version 0.9. Copyright © 2011 The Rector and Visitors of the University of Virginia
Pilot-in-the-plane
What is effectuation? Version 0.9. Copyright © 2011 The Rector and Visitors of the University of Virginia
The Effectual Cycle
What is effectuation? Version 0.9. Copyright © 2011 The Rector and Visitors of the University of Virginia
The Cycle Starts Here
What is effectuation? Version 0.9. Copyright © 2011 The Rector and Visitors of the University of Virginia
Then Interact With People
What is effectuation? Version 0.9. Copyright © 2011 The Rector and Visitors of the University of Virginia
Before Next Class• Arrange a meeting with your team
• Find your team’s “Birds-in-Hand” and goals
• Find and interact with people that can help your team
• Watch Videos
• TEDxMidAtlantic 2010 Saras Sarasvathy
• Lecture 1: What We Now Know
• Lecture 1.5: Business Models and Customer Development
Slides
• Slide 1: Cover slide
• Slide 2: Present your team
• Slide 3: Present your team’s Birds-in-Hand
• Slide 4: Present your team’s initial goals
• Slide 5: Present and report interactions with stakeholders