Lean @ ITPAn experiential 2 week workshop

January 11-22, 2016NYU ITP

Intro Jan 11, 2016 and WelcomeJen van der Meer + Christin Roman

Why:We embrace a creative, iterative, and collaborative approach to making things — but launching a product out into the world takes a somewhat different set of skills.

How does one make sure people want to use what they make?

How does one figure out how to support an idea with the right business structure?

Is the idea strong enough to turn into job — career — a side business — or company?

Ideas

Build

Product

Measure

Data

Learn

Lean Startup Business Model Canvas

Key Partners Key Activities Value Propositions

Customer Relationships

Channels

Revenue StreamsCost Structures

Key Resources Key Channels

Customer Segments

Lean:

Lean LaunchPad

Lean @ ITPEnter Lean at NYU ITP The experiential workshop in entrepreneurship

ITP Culture

That the biggest danger is not ignorance, but the illusion of knowledge.

That creativity is not the game preserve of artists, but an intrinsic feature of all human activity.

That you combine that edgy mixture of self-confidence and doubt.

That you don’t see the world as a market, but rather a place that people live in — you are designing for people, not machines.

That you are willing to risk, make mistakes, and learn from failure.

That you play. That you are spontaneous. That you collaborate.

YouNYU Schools Represented in this workshop:

ITP

Stern

Medicine

Tandon

SPS

Gallatin Reynolds

UsJen van der Meer:

Jen is a business model expert, angel investor, and founder of Reason Street. Formerly: Dachis Group, Frog Design, Organic, Wall St. analyst.

Adjunct at NYU ITP since 2008, teaching Lean, Bodies and Buildings, Products Tell Their Stories, and the ITP Pitchfest. Mentor in the NYU Summer LaunchPad Accelerator, Blackstone LaunchPad, and NSF I-Corps. Steering Committee for the NYU Healthcare Innovation Challenge. MBA at HEC in Paris,

@jenvandermeer @reason_street

Christin Roman:

Christin is a user experience design consultant. Christin helps startups design and launch great products by focusing on their users first. You can see Christin’s work at I Hate Robots - which comes from a quote from Red Burns, the founder of ITP, who said,“I hate robots. I don’t believe in artificial intelligence, I believe in artificial augmentation.”

ITP ’07 and former mentor in Lean at ITP.

@xinroman

Fun intense 2 weeks

Intro Team

Formation

Why + Personas + How to Interview

Value Props + Generative

Design

Vision + Story + Oz Test

Relationships Channels +

First Test

How to listen, interpret, decide

Cost/Revs +Activities/Resources/

Partners

Indie vs. VC? Motivation +

Team Story x 2

Lessons Learned

Jan 11 Jan 12 Jan 13 Jan 14 Jan 15

Jan 19 Jan 20 Jan 21 Jan 22

FormatFlipped classroom

4-5 minute videos

Quick Q&A

Role play interviews

Practical learning - financial modeling, persona

Customer interviews - in field 30 interviews per team per week

Hypothesis/test crit from teaching team and advisors

Early evening talks - mentor discussions

1:1 mentorship

What to expectBegin each session with a short grounding lecture

And a workshop

Each team presents their findings every day (talk to customers every day)

Core hypotheses

What you learned

What you’ll test next

Lean @ ITPLearning how to supercharge your network capital

Lean @ ITPBusiness models thrive on networks.

Key Partners Key Activities Value Propositions

Customer Relationships

Channels

Revenue StreamsCost Structures

Key Resources Key Channels

Customer Segments

Once and future mentorsTom Igoe, ITP Julie Berkun Fajgenbaum, Tweed Wolf Tarikh Korula, seen.co Andy Weissman, USV Angad Singh, Lolly Wolly Doodle Britta Riley, Windowfarms Corie Hardee, Little Borrowed Dress Frank Rimalovski, NYU Jennifer Hill, International Tech Venture Lawyer John Bachir, Medstro Leah Hunter, FastCo Lindsey Marshall, NYU Michal Krasnodebski, Shutterstock. Miguel Senquiz and Sam Valenti IV, Drip.fm

Peter Fusco, Lowenstein Matt Harrigan, Grand Central Tech Nihal Parthasarathi, CourseHorse Phoebe Espiritu, TechStars Robert Fabricant, Dalberg Summer Bedard, Betaworks Travis Hardman, Annotary Thomas Gerhardt, Studio Neat Vlad Vukicevic, RocketHub John Bachir, Medstro Sarah Krasley, ITP , Scott Miller, Bolt Ventures, Dragon Innovation + We augment with speakers and mentors based on your ideas

Asking core questions

Why/Purpose

Story

Team to build

Motivation

Self + Team

Persona-Segment

Value Props

Relationships Channels

Activities Resources Partners

Cost/Revs

Business Structure

Vision

Human Impact

Eco Impact

Culture / Impact

Triple Loop Lean

Are these the right questions

Context Assumptions Actions Results

Are we doing the right things?

Are we doing things right?

Single Loop

Double Loop

Triple Loop

The Marketplace for All Ideas

1. Find the fastest path to a scalable repeatable user

growth model

2. Build the most valuable network of people

And data

3. Build the groundwork that drives evidence-

based outcomes insurance model

Scale towards your goal

Business Model Innovation

Products without business models can fail.

Business models without great products can fail.

Both, together are where we aim.

Over 90 per cent of all business model innovations recombine existing ideas and concepts from other industries.1

Business model innovators are more profitable than product or process innovators, and industry outperformers innovate their business models twice as frequently as their peers.2

Our goal for this workshop: identify the potential business model combinations that will formulate a validation phase to determine the best way for your future company to create and capture value.

“Get out of the classroom”

Idea and Team Formation

Introduce and Idea

Tell us your name and your topic of interests-

Framed as a problem. What need to people have? What problem do people needs solved?

20 Min: ReframeWhat is your collective expertise and experience and how does that give your team an edge -

What widely held belief are you questioning?

What do you know about this challenge that no one else has considered

What’s your specific vision about the future you want to see in the world for the people you want to serve as customers?

Reframe the challenge from the perspective of this vision.

20 Min: 10x VisionAsk for the impossible.

What would be an amazing outcome. Now multiply this by 10.

Come up with 2-3 ideas that would make this come true.

Crazier = better.

For tomorrowUdacity: Steve Blank’s Lean Launchpad Customer segments and value proposition

Start or keep reading Talking to Humans by Giff Constable and Frank Rimalovski

Each team member talks to one customer before class tomorrow

A tomorrow