lean for startup iimb nsrcel

Lean Startup /mtrajan /thiyagarajan

1 LeanStartup

0 $100m LeanStartup

Why is Leanstartup so popular ?

My Tryst with LeanStartup

Multimedia Systems Engineer, Emuzed

Acquired by Aricent no self upside or learning

MotvikFounding

wwigo release - WoM

ShowLiv (similar to Periscope)

Cold Storage

Intuit

Mobile Monday Community

NASSCOM Product ConclaveCommunity

iSPIRT Fellow

Innovation Leader

IntrapreneurProduct Leader

2015

Product Leader

2007 2011 2012

Discovery Hack Circle(6 Lean startup peers)

1.5 m downloads

non lean startup lean startup

Why still do lean startup ?

A map even if incorrect comforts

A “How” approach that feels scientific

“Cost of learning” for entrepreneurs is asymmetric

Map is not the elixir to yearn

Skills increase odds in the voyage

Skills build only by taking the voyage

With or without the map.

Maps reduce the cost of learning but not increase the odds

3 skills most important

4 words say everything about Lean startup

Definition of Startup

Build Measure

Learn

Experiments MVP Pivot

Definition of Startup

“A startup is a temporary organization used to search for a repeatable and scalable business model under extreme uncertainty”

Steve Blank

Black

Type IIType I Type III

3 kinds of unknown

3 type of Uncertainty

Running Trains Climbing Everest Star Trek Voyage

vision

idea

leap of faithassumption

given

[ A bold statement about the opportunity ]

[ One concept that delivers on that vision ]

[ Key assumption about our idea that’s keeping us up at night - if this assumption is false, nothing else matters ]

hypothesis [ Solutions/features that could support our leap of faith assumption ]

experiment [ Conditions created to measure behavioral response ]

reflect [ Pivot the idea or persevere ]

Flowchart of Build-Measure-Learn

Build Measure Learn

MVP another name for experiments

Landing Page

Paper Sketch

Mockup

Ad-wards Campaign

Video

Software Prototype

Concierge MVP

The Product

Few Many

Low

High

Customer Reach

Fide

lity

http://stefanroock.wordpress.com/2012/08/05/lean-startup-a-classification-of-mvps/

Digital Wireframes

Customer Interviews

MVP Fidelity

Pivot is around a point, not flip flop

3 key skills

Better question help better interpretation

Story of “baby online commerce” -> “stores”

Strong opinion weakly held

https://www.flickr.com/photos/28681973@N00/14339549643/

Story of “Consumer PFM” to “SMB Accounting”

Decisions despite of data

dATA & fACTS . popular worldview . stubborn vision

Jan XX

Story of “Statistical significance of behavior“

It is about Lean Startups

Where > How https://www.flickr.com/photos/klaudiajurewicz/15353419726/

Are you riding a tide

https://www.flickr.com/photos/avalith/8515146175/sizes/l/

Credit: Edewaa Foster from Unsplash.

Full screen images: Two

Pick ocean

Over the pondhttps://www.flickr.com/photos/ma2ttm/15720726685/sizes/c/https://www.flickr.com/photos/rmtron/15003373061/

Market landscape

Consumer

Small Business

Enterprise

India Exploded Inflection around the corner Just germinating

Global Cultural Context a barrier to leverage Exploding Accessible and

addressed

Indian

Summary• Skills more important maps, built through doing the

work. • Asking Good Questions; Bias Awareness ; Savoring Surprises;

Good Judgement • Where you start the voyage is more important than how

Thanks