Engineering 245 The Lean LaunchPad

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Engineering 245 The Lean LaunchPad. Session 1: Overview/Business Models/Customer Development Professors Steve Blank, Ann Miura-Ko, Jon Feiber http://e245.stanford.edu/. Agenda Is This the Right Course for Me? . Course Objectives/teams/project Introductions Class Logistics - PowerPoint PPT Presentation

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  • Engineering 245

    The Lean LaunchPad

    Session 1: Overview/Business Models/Customer Development

    Professors Steve Blank, Ann Miura-Ko, Jon Feiberhttp://e245.stanford.edu/

  • AgendaIs This the Right Course for Me?Course Objectives/teams/projectIntroductionsClass LogisticsBuilding a Lean StartupIdeaSizing the OpportunityBusiness ModelsCustomer DevelopmentBreak: Stay If You Want to Be in the ClassClass Culture and Next Steps

  • Course ObjectivesUnderstand the real world aspects of Entrepreneurship by getting out of the buildingAnalyze and assess an opportunityBuild the productGet ordersWork with a teamLearn whether entrepreneurship is for you

  • What Will you Learn?Opportunity evaluationSearch for a Business ModelCustomer Discovery and ValidationOperating and decision making in chaos with insufficient dataTeamwork

  • The Course By the Numbers3/4 Units of Credit3 Instructors, 2 CAs, 25+ Mentors, 8 Lectures8 Weekly 10-minute presentations1 Final 30 minute presentation3 Textbooks

    5 -10 hours of work a week outside the classroom

  • Course ReadingBusiness Model GenerationFour Steps to the EpiphanyFounders at Workcopies available at the bookstore

  • This Class is HardYou cant pass by attending the classYour grade is determined by the work you do outside the classTheres a lot of itYou are dependent on teamwork and teammates communication is critical

  • TeamsSuggested team size is 4 peopleDeadline for team formation is Jan 6th Must contact your mentors by Jan 7th Present Weekly and for FinalWeekly lessons learnedFinal is demo and summaryClass is about teamwork, discovery and fast iteration

  • Team ProjectsAny for-profit scalable startupIf you are a domain expert, thats your best bet (but not required)If you pick a web project, you have to build it (and there needs to be some novelty)

  • Team DeliverablesEach WeekLessons Learned presentation 10 minutesUpdated blog/wiki10s of hours of outside the building progress

    Final Presentation30 minute Lessons Learned Summary

  • GradingIndividual - 20%Participation in class 20%

    Team - 80%Weekly summary and out of the building progress 50%

    Final Presentation 30%

  • Introductions

  • Steve Blank, Ann-Miura-Ko, Jon Feiber8 startups in Silicon Valley Semiconductors Supercomputers Consumer electronics Video games Enterprise software Military intelligence

    sblank@kandsranch.com twitter sgblankwww.steveblank.com Yale BS EE McKinsey and Co. Charles River Ventures Stanford Ph.D MS&ETA: E145, Mayfield Fellows, MS&E 273V.C. @ Floodgate

    ann@floodgate.com@annimaniac

    BS CS/Astro Physics U of Colorado VP Networking SUNV.C. @ MDV since 1991

  • Steve Blank, Ann-Miura-Ko, Jon Feiber8 startups - 32 years in Silicon Valley Semiconductors Supercomputers Consumer electronics Video games Enterprise software Military intelligence

    Teach: Stanford, Berkeley, Columbia

    Details at www.steveblank.comYale BS EEMcKinsey and Co.Charles River VenturesStanford Ph.D MS&EV.C. @ Floodgate

    ann@floodgate.com@annimaniac

    BS CS/Astro Physics U of Colorado VP Networking SUNV.C. @ MDV since 1991

  • Steve Blank, Ann-Miura-Ko, Jon Feiber8 startups - 32 years in Silicon Valley Semiconductors Supercomputers Consumer electronics Video games Enterprise software Military intelligence

    Teach: Stanford, Berkeley, Columbia

    Details at www.steveblank.comYale BS EEMcKinsey and Co.Charles River VenturesStanford Ph.D MS&EV.C. @ Floodgate

    ann@floodgate.com@annimaniac

    BS CS/Astro Physics U of Colorado50th employee, VP Networking @ SunV.C. @ MDV since 1991jdf@mdv.com

  • Felix HuberCourse Assistant (CAs) MS MS&E 2010 Google Translate Product Mgr

    CAs role: Class/lecture questions, Grading and attendance

    Thomas Haymore B.A. in Political Science Stanford Law (06) J.D. Stanford Law (12)thomas.haymore@gmail.comhuberfelix@gmail.com

  • Felix HuberVolunteer Course Assistant (CAs) MS MS&E 2010 Google Translate Product Mgr

    CAs role: Class/lecture questions, Grading and attendance

    Thomas Haymore B.A. in Political Science Stanford Law (06) J.D. Stanford Law (12)thomas.haymore@gmail.comhuberfelix@gmail.com

  • MentorsMentors are Venture Capitalists or EntrepreneursMentors role is to:Help you Get you out of the buildingShare contactsOffer Real-world entrepreneurial adviceCritical feedbackYou arrange your schedule for the mentors, not the other way around

  • Class Logistics

  • How the Class Works

    ClassTopicDeliverable for the Next Week(Submit interview notes, present results, update wiki/blog)January 4th Class 1Business Model and Customer Development-Hypotheses for each part ofbusiness model.- Test for whetheryourbusiness isworth pursuing(market size)- Test for each of the hypotheses - What constitutes a pass/fail signalforthe test(e.g. at whatpoint would yousay your hypotheses wasntevencloseto correct)?

  • How the Class Works

    ClassTopicDeliverable for the Next Week(Submit interview notes, present results, update wiki/blog)January 4th Class 1Business Model and Customer Development-Hypotheses for each part ofbusiness model.- Test for whetheryourbusiness isworth pursuing(market size)- Test for each of the hypotheses - What constitutes a pass/fail signalforthe test(e.g. at whatpoint would yousay your hypotheses wasntevencloseto correct)? January 6th Team Mixer- Teams by midnight Jan 6th

  • How the Class Works

    ClassTopicDeliverable for the Next Week(Submit interview notes, present results, update wiki/blog)January 4th Class 1Business Model and Customer Development-Hypotheses for each part ofbusiness model.- Test for whetheryourbusiness isworth pursuing(market size)- Test for each of the hypotheses - What constitutes a pass/fail signalforthe test(e.g. at whatpoint would yousay your hypotheses wasntevencloseto correct)? January 6th Team Mixer- Teams by midnight Jan 6th

    January 11th Class 2 Testing the Value Proposition- Nameyourteam. - What areyourvalueproposition hypotheses? - What did you discover from customers?

  • How the Class Works

    ClassTopicDeliverable for the Next Week(Submit interview notes, present results, update wiki/blog)January 18th Class 3TestingCustomers /Users / Payers- What wereyour user/customer hypotheses? - Did youlearn anything different? - Anything change aboutValue Proposition? - - What are your customer acquisition costs? - What arethe direct benefits (economic/other)?- Whois the decision maker, how large is their budget? What are they spending it on today? - How will thisbuyingdecision be made? - What resonates withcustomers?- For web startups, start codingthe product. - Setup GoogleorAmazoncloudinfrastructure

  • How the Class Works

    ClassTopicDeliverable for the Next Week(Submit interview notes, present results, update wiki/blog)January 18th Class 3TestingCustomers and Users - What wereyour user/customer hypotheses? - Did youlearn anything different? - Anything change aboutValue Proposition? - - What are your customer acquisition costs? - What arethe direct benefits (economic/other)?- Whois the decision maker, how large is their budget? What are they spending it on today? - How will thisbuyingdecision be made? - What resonates withcustomers?- For web startups, start codingthe product. - Setup GoogleorAmazoncloudinfrastructureJanuary 25th Class 4 Testing Demand Creation- Anything changeaboutValuePropositionor Customers/Users or Channel?- Present and explain yourmarketing campaign. - What worked best andwhy?

  • How the Class Works

    ClassTopicDeliverable for the Next Week(Submit interview notes, present results, update wiki/blog)Feb 1st Class 5Testing Sales ChannelFor webteams: Getworking website/analyticsup.- Track wherevisitorsarecomingfrom,how behavior differs.- What wereyourhypotheses about site results?- Anythingin Value Proposition orCustomers/Users? For non-web teams: Interview 10people inchannel - Anything change in Value Proposition, Channel or Customers/Users? - Doesyour product extend/replace existing channelrevenue? - Whats the cost of yourchannel/its efficiency vs. productselling price. For Everyone: What is yourcustomerlifetime value? - What feedback did you receivefromyourusers?- What aretheentrybarriers?

  • How the Class Works

    ClassTopicDeliverable for the Next Week(Submit interview notes, present results, update wiki/blog, build website)Feb 1st Class 5Testing Sales ChannelFor webteams: Getworking website/analyticsup.- Track wherevisitorsarecomingfrom,how behavior differs.- What wereyourhypotheses about site results?- Did anything change about Value Proposition orCustomers/Users? For non-web teams: Interview 10people inchannel - Did anything change about Value Proposition or Customers/Users? - Doesyour product extend/replace existing channelrevenue? - Whats the cost of yourchannel/its efficiency vs. productselling price. For Everyone: What is yourcustomerlifetime value? - What feedback did you receivefromyourusers?- What aretheentrybarriers?Feb 8th Class 6Testing Revenue Model- Assembleincome statement for your business model. - Lifetime value calculation for customers.

  • How the Class Works

    ClassTopicDeliverable for the Next Week(Submit interview notes, present results, update wiki/blog, build website)Feb 15th Class 7Testing Partners- Anychange ofValue Proposition, Customers/Users, Channel, orDemand Creation? - Whatare the partners incentives/impediments?

  • How the Class Works

    ClassTopicDeliverable for the Next Week(Submit interview notes, present results, update wiki/blog, build website)Feb 15th Class 7Testing Partners- Anychange ofValue Pro