the data driven startup
TRANSCRIPT
The Lean startup
⥁Lean!cycle
learn
buildmeasure
hypothesis testing
Lean Goals / Milestones
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t
Use
rs, $
Problem - Segment
Landing Page
Problem - Solution Fit
Metrics (Acquisition, Activation,Conversion, Retention, Viral, Referral,...)
Business Model
Scale Up Model
Product Market Fit
Customer Interviews
MVP launch
Achieving product-market fit is not a singular event,
but a process.
Shifting search space
customers
market
company
process is always about time dynamics
Market Stage
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13,5% 34% 34% 16%2,5%
target typical
market analytics product analytics
Market Plan
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(problem-market fit)
TAM
SOM
SOM
TAM
1st year 2nd year 3rd year
Why now
EUR
t
Measuring product-market
fit
Financial Cohort
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MRR
CAC
LTLifetime
Monthly Return Rate
Monthly Recurring Cost ROI - Return On Investment:LTV - Customer Lifetime Value:
MRR
CAC
LTLifetime
ROI - Return On Investment:
CLV - Customer Lifetime Value:
-10
-20
-30
-40
10
20
30
32 4 5 6 121110987
110%
84 €
MRR
CAC
Lifetime
ROI - Return On Investment:
CLV - Customer Lifetime Value:
Free Trial
-10
-20
-30
-40
10
20
30
32 4 5 6 121110987
460%
224 €MRCMRC
LT
MRRn
CACn
LTLifetime
ROI - Return On Investment:
CLV - Customer Lifetime Value:
-10
-20
-30
-40
10
20
30
32 4 5 6 121110987
460%
224 €MRCn
Customer Acquisition Cost
MRC
1 1 1
-100000
-50000
0
50000
100000
150000
200000
250000
-20000
-10000
0
10000
20000
30000
40000
50000
May-14
Jul-1
4
Sep-14
Nov-14
Jan-1
5
Mar-15
May-15
Jul-1
5
Sep-15
Nov-15
Jan-1
6
Mar-16
May-16
Jul-1
6
Sep-16
Nov-16
Jan-1
7
Mar-17
May-17
Jul-1
7
Sep-17
Nov-17
Jan-1
8
Mar-18
May-18
Jul-1
8
Sep-18
Nov-18
Jan-1
9
Mar-19
May-19
Jul-1
9
Sep-19
kum
ulat
ive
diff
eren
ce
mon
thly
KP
Is
New Users
churn
CAC
MRR
MRC
monthly COST
monthly difference
kumulative difference
Good metrics Are Actionable ] optimize
Can be Audted
Are Accessible ]! understand!
An actionable metric is one that ties!specific and repeatable actions !
to observed results.!—Ash Maurya!
becoming
data driven
incorporatingreal-time
data into everydaydecision
making
Only a continues stream of data captures time
dynamics.
64%
companies interested in predictive analytics 8%!
deployed
profitability by 2017 from using predictive analytics+20%
http://www.gartner.com/newsroom/id/2593815
Achieving product-market
fit (with data)
Market map - problem
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segments
problems
barrierlevel
painlevel
specificities and aspectssegment name no. 1
segment name no. 2
segment name no. 3
problem no. 1 problem no. 2 problem no. 3 problem no. 4 problem no. n
Market map - problem
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segments
problems
barrierlevel
painlevel
specificities and aspectssegment name no. 1
segment name no. 2
segment name no. 3
problem no. 1 problem no. 2 problem no. 3 problem no. 4 problem no. n
Max
Customer Acquisition Cost
User Value
t
$
The Five Levels of Selling Points
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Core Value Proposition
Unique Selling Proposition
Benefits
Features
Problems
Problem
Problem
The limits of bottom-up approach
The cornerstone metric
clustering
segmentation
clustering
segmentation
Of humans and machines
Making the world legible
humanmachinevisualisation
process
⥁Lean!cycle
learn
buildmeasure
⥁⥁learn
buildmeasure
learn
buildmeasure
human machine
New breed of KPIs
We’re actually in the reverse engineering business.
Hekovnik’s dirty little secret: