experimental startups in miami thanks to the knight foundation

@adamberk

Entrepreneurial Science For StartupsAKA “Lean Startup” (a trademark owned by @ericries)

A MINIMUM VIABLE SLIDE DECK PREPARED FOR

“Entrepreneurs in Miami with an idea to change the world who are willing to experiment to see if the

world wants to be changed”. BY

Hmmm… how will I change the world

@adamberk

I am an entrepreneur because ….

The most annoying thing that

happened…

Good idea? Who cares!

No really, Who cares?

Good idea? Prove it!

UNTIL THEN

Build first?

Test the riskiest things first

Test Demand NOT SUPPLY

Isolate your variables and assumptions

test them independently

But then make sure when you stack them together

Scientists do not coddle ideas. They crash test them. They run them

into a brick wall at sixty miles per hour. If the

idea is sound the pieces will be of the wall.

PITCH

Customer DevelopmentProblem/Customer fit. No solutions

FACTSvs

PROBLEMSyou cannot solve a fact

AN EARLY ADOPTER TELLS

YOU THEIR PROBLEM BEFORE

YOU TELL THEM

HEADACHEPROBLEMS

VSMIGRAINE

PROBLEMSsay hi to @dianakander and ask her about her dog (and watch her talks online)

Exploration

Cure tunnel vision

Don't let your idea...

Get outof your comfort zone

GOOB (credit, Steve Blank)

Pulldon't push - it's harder than it seems.

PAST

not future

LISTENdo you hear that? you have 2 ears and only one mouth for a reason. Listen at least 2x as much as you talk.

PRACTICEDo you get junk mail? How many loyalty cards do you have? How did you find this

restaurant?

PRACTICE

RINSE & REPEAT

until you find the real problem and the corresponding early adopters...

STOP

Do not ask for $, do not write code..

They may not know WHAT they want, but they have to want SOMETHING

NOsolutions, selling, friends, family, surveys

Don't build this.

WRONG

if you build without testing, you are probably building...

tweet “hey @kevinpmarra you were right they are not milkshakes, but it’s not froyo”

tweet “hey @claychristensen, milkshake marketing is brilliant #jtbd”

Embrace constraint. Then iterate!

Don’t get lucky, get good.

Unbounce

DEVELOPMENT

I am unique because…I am valuable because…

My startup is unique because…My startup is valuable because...

SUPPLY &

DEMAND

Your “product” is more than your app.

It is the entire process of creating and capturing value for your user and yourself.

Deliver value.Deliver Solution (Manually). Learn. {period}

“I make money using my brains and lose money

listening to my heart. But in the long run my books balance pretty well.”

-Kate Seredy

“If you are not embarrassed by the first version of your product, you shipped too late.”

-Reid Hoffman (LinkedIn)

“To do good, you actually have to do

something.”

-Yvon Chouinard (Patagonia Founder)

“it turns out that focus is so important, even if you pick the wrong focus you're doing better!” BILL GROSS

Read more: http://www.businessinsider.com/bill-gross-lessons-2011-12?op=1#ixzz2gO4zcdIJ

“Do things that don't scale”

-Paul Graham

“If you can’t get them to adopt your idea with high-

touch, face-to- face service, they will not buy into your

cold web page.”-Manuel Rosso

“Do the least that gets you to the end instead of the most that gets you to the

beginning”-ab

what if the bottleneck

is at the bottom?

Manual

NOharm, copyright

infringement,building,adwords

Science. Economics. Supply & Demand Opportunity cost.

Thank you!adam@neighborrow.com

@adamberk

Thank me? Send feedback to

adam@neighborrow.com@adamberk

or send an entrepreneur to my next event in Paris or Kansas

City.

I PROMISE…

If you do 10 interviews and share them on the document,

you have a mentor for life:)