miami lean startup circle meetup 10-29-2014 - tom ordonez
TRANSCRIPT
STOP WASTING TIME AND MONEY
Miami Lean Startup Circle
http://LeanStartupMiami.com
http://leanstartupmiami.com
TOM ORDONEZ
http://startcreatus.com!http://tomordonez.com
Business developer with experience in lean startup, customer development, product development, offline marketing, online marketing, software development and recruiting.!• Attended 20+ trade shows!• Introduced 100+ products in the Latin American market!• $1M+ sales record!• Organized 2 software development workshops: http://coderetreatmiami.com!• Organized the first hackathon on a train: http://youtu.be/I1Dz1w982_c!• Event organizer of Miami Lean Startup Circle
http://leanstartupmiami.com
Miami Lean Startup Circle Meetup❖ Andrej Kostresevic: Organizer of Android South Florida and
Miami Lean Startup Circle!
❖ Founder of New Frontier Nomads “Your Lean Mobile Cofounders”!
❖ Miami Startup Digest curator!
❖ 15 years of mobile and web dev experience!
❖ Has developed apps that have over 10M downloads!
❖ http://newfrontiernomads.com
http://leanstartupmiami.com
The Lean Startup
❖ A methodology for developing businesses and products!
❖ Developed by Eric Ries!
❖ Applicable to any business or product!
❖ Lessons learned from wasting a lot of time and money
http://leanstartupmiami.com
Who Likes To Waste Time?If he wastes time he gets!
pissed off
http://leanstartupmiami.com
Who Likes To Waste Money?
He will tear your eyeballs out and…you know the rest!right?
http://leanstartupmiami.com
What is a Circle?
❖ Circle of Lean!
❖ Community!
❖ Help each other!
❖ Support each other!
❖ Teach each other
http://leanstartupmiami.com
What is a Lean Startup Circle?
LEAN!Problem/Solution!
Lean Canvas!Customer Development!
Product Interviews!Agile Development!
Iterate Fast!Metrics
NOT LEAN
The Lean Startup Circle is a worldwide community: http://leanstartupcircle.com
http://leanstartupmiami.com
Not Lean = Bacon❖ Bacon is yummy yum yum!
❖ Doing logos is bacon!
❖ Designing landing pages = bacon!
❖ Coding is bacon!
❖ Tweeting bacon!
❖ Sending surveys bacon!
❖ Building is bacon!
❖ Eating only bacon is bad for you
http://leanstartupmiami.com
NOT The Lean Way
❖ People won’t buy your product cause:!
❖ You have a nice logo!
❖ You have a beautiful landing page/website!
❖ You have a lot of twitter followers!
❖ You write beautiful code
http://leanstartupmiami.com
Tips to Complete a Lean Canvas❖ Complete from top to bottom, from left to right!
❖ Don’t get stuck in the terminology:!
❖ Lean canvas: Call it Smart Plan, Awesome Plan or whatever name you want!
❖ Unfair advantage: A lean canvas has this, which is the same as the more common name “Competitive Advantage”!
❖ UVP aka Unique Value Proposition: This is an elevator pitch!
❖ Complete the 1st draft in 1 hour of brainstorming!
❖ Don’t spend time googling stuff!
❖ These are all assumptions based on your know-how!
❖ This is not a business plan
http://leanstartupmiami.com
Tools to Build a Lean Canvas•Use anything!•Word, excel!•No need to buy
software!•Just use your
brain
THIS IS A SIMPLE EXCEL TEMPLATE
http://leanstartupmiami.com
Lean Canvas Template❖ You could also do a lean canvas template like this one. It is easier if
you are doing it in Excel or Word and don’t want to merge cells, which could become a mess.
Problem
Solution
Existing Alternatives
Customer Segments
Early Adopters
Channels to Customers
Competitive Advantage
Unique Value Proposition!What is it called:!For Who is It?!Why should they careCost Structure
Revenue Streams
Key Metrics
http://leanstartupmiami.com
Lean Canvas for Drone Idea❖ During our last Miami Lean Startup Circle meetup (Oct
2014) at Venture Hive there were 3 ideas. People voted on this one. Nobody had a preconception of this idea or realized that it is a well funded startup.!
❖ Idea: Drones for Aerial Pictures of Real Estate
http://leanstartupmiami.com
Lean Canvas: 1. Problems
❖ Drones for real estate aerial pictures!
❖ Let’s identify the Top 3 Problems!
❖ 1. Expensive to hire a helicopter!
❖ 2. Short supply of aerial photography!
❖ 3. Long time to book helicopter to take pictures
http://leanstartupmiami.com
Lean Canvas: 2. Solutions
❖ Let’s identify 3 possible solutions!
❖ 1. Get a drone, google maps, helium balloon with camera. Get topographic maps. Go to the next building.!
❖ 2. Get a drawing.!
❖ 3. Take it yourself with a camera
http://leanstartupmiami.com
Lean Canvas: 3. UVP Example
❖ What the Unique Value Proposition?!
❖ What is it?!
❖ For Who?!
❖ And Why?!
❖ Twitter - Share short messages with your friends!
❖ >>Let the world know that you exist
http://leanstartupmiami.com
Lean Canvas: 3. UVP Drone Idea
❖ What is our UVP?!
❖ What: DroneRealEstate - Aerial Pictures!
❖ Who: For real estate agents!
❖ Why: Market your properties with style
http://leanstartupmiami.com
Lean Canvas: 4. Customer Segments
❖ Let’s think of all possible users that will use the product:!
❖ 1. Real estate agents!
❖ 2. Developers!
❖ 3. Buyers!
❖ 4. Sellers of the properties!
❖ 5. City of Miami, Appraisers, Insurance, Adjuster
http://leanstartupmiami.com
Lean Canvas 5. Channels
❖ How are we getting to these customers?!
❖ Channel 1: Advertisement with the same drone!
❖ Ch2: Online marketing!
❖ Ch3: Sales people in business suits!
❖ Ch4: Word of mouth, trade shows.!
❖ What is the best channel?
http://leanstartupmiami.com
Lean Canvas: 6. Cost Structure
❖ First iteration: 3-month plan!
❖ What costs are involved to build a 3-month runway!
❖ Customer Development: 1 month $10K!
❖ Customer acquisition: 1 month $10K !
❖ Product Development: $8K 1 drone.!
❖ What else? Marketing, Lawyers, $10K
http://leanstartupmiami.com
Lean Canvas 7. Revenue Stream
❖ So…how are we going to make money?!
❖ Stream 1: $2K for 10 pictures!
❖ Stream 2: Ads on the drone $500/day!
❖ Stream 3: Stock pics $100/pic!
❖ Which stream will they pay?
http://leanstartupmiami.com
Lean Canvas: 8. Competitive Advantage
❖ What do you have they don’t have? Do you have some super secret formula?!
❖ 1. First to market for real estate!
❖ 2. An AI drone takes best pictures!
❖ 3. Same day results!
❖ 4. Pricing!
❖ Also, get a List of competitors and do a SWOT for each
http://leanstartupmiami.com
Lean Canvas: 9. Metrics❖ How do we measure we are doing things lean?!
❖ Vanity Metrics aka False Metrics:!
❖ 1. Number of pageviews!
❖ 2. Number of surveys completed.!
❖ 3. Mixed signals!
❖ A good metric: Number of people that registered through Revenue Stream 1
http://leanstartupmiami.com
Contact: Tom Ordonezhttp://startcreatus.com!http://tomordonez.com!https://twitter.com/tomordonez!http://www.linkedin.com/in/tomordonez/