Lean launchPad Spring ITP Class 1 1.27.2014

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Lean LaunchPad NYU ITP Class 1: Adapting Lean LaunchPad for ITP


<ul><li> LEAN LAUNCHPAD AT NYU ITP Class 1 / 12 January 27, 2013 Jen van der Meer | jd1159 at nyu dot edu Josh Knowles | chasing at spaceship dot com Rockets Sketches borrowed from Harry Allen Design </li> <li> TODAY: 6:00 7:00 Course overview 7:00 - 7:45 5 minute business model canvas presentations 7:45 - 8:00 Break 8:00 - 8:55 First Guest Speaker: Christin Roman </li> <li> ITP TEACHING TEAM Jen van der Meer, Adjunct Professor at ITP since 2008 ITP courses + workshops: Bodies and Buildings, Products Tell Their Stories, ITP VC Pitchfest, . Currently: Luminary Labs, Angel Investor, Health Data Challenges, Judge for startup competitions, + SVA PoD Josh Knowles, ITP 07 15+ years as an independent developer/consultant, working with numerous brands and start-up clients (currently under the aegis of Frescher-Southern, Ltd.) </li> <li> @CHASING </li> <li> @JENVANDERMEER </li> <li> LEAN LAUNCHPAD OUR APPROACH </li> <li> LEAN LAUNCHPAD AT NYU ITP </li> <li> LEAN LAUNCHPAD AT NYU ITP 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 do we make sure people want to use what they make? How do we create a business plan to support the idea? Is the idea strong enough to turn into a job -- or a career? </li> <li> BEST OF BOTH Experiential course in entrepreneurship Based on the Steve Blanks Lean Launchpad and the NYU Summer Launchpad Accelerator, We are applying the curriculum developed at Stanford and Berkeley for the ITP culture and NYU community. This course has been developed with support from the NYU Entrepreneurship Initiative, and aims to mix the best of the methods from the Lean Launchpad methodology with the best of ITP's culture and practice. </li> <li> THE ONLY TEXTBOOK WE READ: 10 </li> <li> 11 </li> <li> 12 </li> <li> ITERATIVE SEARCH FOR A BUSINESS MODEL . Students work in self-formed teams of 3-4 to develop their business model and product/service over the course of the semester. The focus of the course is the work of: Customer development, speaking directly to potential customers to help define opportunities that the startup is designed to solve. Well go deeper into design approaches to understanding through empathy. Agile development: utilizing UX methods and tools to ground teams in an understanding of how to launch a minimally viable product. </li> <li> CLASS TIMEFRAME AND EXPECTATIONS </li> <li> CLASS TIMEFRAME AND CADENCE . Walk through the full canvas Build to MVP, space for iteration </li> <li> CLASS TIMEFRAME AND CADENCE . 2/3 Value Proposition UX Tools, Frameworks 1/27 Business Models Customer Development UX Tools Intro 3/17 Spring Break 2/17 Presidents Day 2/10 Customer Segments Research Tools 3/24 Customer Development Product Development 3/3 Customer Relationships Partners, Product Development 2/24 Revenue Streams Distribution Product Definition 4/7 Customer Development Product Development 3/31 Customer Development Product Development 3/10 Resources, Activities, Costs, Product Development 4/21 Product MVP 4/14 Customer Development Product Development 4/28 Lessons Learned </li> <li> TEAMS </li> <li> STUDENT TEAMS Team Name School Cognitive Toy Box Lindsey Jones Stern Tammy Kwan Stern Hsiang Huang Stern Rodrigo Derteano ITP Maximo Sica ITP Ajejandro Puentes ITP Alon Chitayat ITP Sam Slover ITP Shilpan Bhagat ITP Max Ma ITP Sergio Majluf ITP Su Hyun Kim ITP Christina Yugai Stern Yuliya Parshina Kottas ITP Rose Meacham ITP Hanna Moon ITP Ju Young Park ITP Alternative Monuments NYBL DiscoverEd Advanced Expression </li> <li> TEACHERS MENTORS AND ADVISORS </li> <li> TEACHERS, MENTORS AND ADVISORS Why we are doing this? We all see this class as an opportunity to help the startup ecosystem of NYU, and NYC Teachers are here to provide guidance and support and ensure you can grasp the practice of customer development and agile development, and get to an MVP Mentors have volunteered to coach a specific team and provide guidance with business model development, and prioritizing features for the MVP Advisors have volunteered to be on hand to answer your questions, provide specific expertise, and connect you to who you need to know Some have experience in Lean, others are here to learn more about lean and contribute </li> <li> MENTOR ROLE Mentors play an active role in weekly coaching of a specific team of 3-4 students. The role of the mentors is to help the teams test their business model hypotheses, and . Offer teams strategic guidance and wisdom: Offer business model suggestions Identify gaps in the teams business knowledge and suggest areas of inquiry and customer development that can help address those gaps Provide teams with tactical guidance every week: Review teams weekly presentation before they present in person or over skype/hangout Comment weekly on teams project blog Respond to the teaching teams critique of their team Offer network help: Why dont you call x? Let me connect you. Coach the teams to make 5 to 10 customer contacts/week Check in with teaching team twice over the semester to discuss student progress </li> <li> MENTORS + TEAMS Tom Igoe @tigoe ITP, Arduino, Making Things Talk, NYU ITP Pitchfest Alternative Monuments Julie Berkun Fajgenbaum @julieF Stern Adjunct Professor, Former VP Amex Open, now startup co-founder NYBL Michael Levitz @michael_levitz ITP grad, R/GA, Lean DiscoverED Sarah Krasley @sarahkrasley Autodesk, Sustainability, Berkeley Advanced Expression Chris Milne @greedo1000 IDEO, Toy Lab, Stanford, LEGO Cognitive Toy Box </li> <li> WHAT TO EXPECT OF MENTORS Proactively set up office hours here or at their convenience Mentors are available to help you through the work of determining your business model, working through the business model canvas Mentors will help connect you to people you need to meet during customer development (but this responsibility is ultimately yours) Later on in the semester, as you continue customer development but move forward to launch an MVP, mentors are there to coach you through timing, priorities, and pacing They are coaches, but not minders you have to do the work of orchestrating to fit into their schedules </li> <li> ADVISORS Briita Riley Windowfarms Tarikh Korula Seen.co Robert Fabricant frog design Matt Harrigan Ben Cerveny Advisorsphere Samsung Accelerator Anthony Viviano ESPN Author of Lean UX Manifesto Valerie Casey Phin Barnes Christin Roman UX Designer Elise Communications Andy Weissman First Round Capital Carrie Barnes Union Square Ventures Adam Quinton ASTIA Ajay Revels Polite Machines Jess Eddy UX Designer Nihal Parthasarathi CourseHorse John Bachir Vlad Vukicevic RocketHub Jennifer Hill Medstro International Tech Venture Lawyer Matt Jones Google Frank Rimalovski NYU Lindsey Marshall NYU Summer Bedard Betaworks Thomas Gerhardt Studio Neat More to come </li> <li> WHAT TO EXPECT OF ADVISORS Advisors are likely time constrained, but eager to help Advisors are available for counsel and advisory, and connections Well publish a contact list but lean on us to make the first intro and set context, as each advisor has their unique perspective and constraints for availability Advisors based in NYC will come to the Lessons Learned day at the end of the semester </li> <li> WHAT TO EXPECT OF TEACHERS We are here to help reach out whenever you need it within reason. Office hours Jen: 5-6 on Mondays, or schedule time at my office in Tribeca: jd1159 at nyu dot edu Josh office hours: 5-6 on Mondays or earlier schedule time chasing at spaceship dot com </li> <li> SHORT HISTORY OF A MOVEMENT </li> <li> WHAT IS A BUSINESS MODEL? . A business model describes the rationale of how an organization creates, delivers, and captures value for companies, customers, and society Business model canvas : can become a shared language that allows you to easily describe and manipulate models to create new strategic alternatives Described through 9 basic building blocks that show the logic of how a company intends to make money Business Model Generation Alexander Osterwalder </li> <li> BUSINESS MODEL CANVAS CONCEPT HERE Who are our key partners? What key activities do our value propositions require? Which one of our customers problems are we helping to solve? What needs are met? What key resources do our value propositions require? What are the most important costs in our business model? What is the product/service ? How will we get keep and grow customers? For whom are we solving a problem / needs met Who are the customers Through which channels do our customer segments wish to be reached? Does the value proposition match the need Single sided or multimarket? What is the revenue model? What are our pricing tactics? For what value are customers willing to pay? </li> <li> THE SHIFT FROM PUSH AND MARKET TO CUSTOMER DEVELOPMENT The Four Steps to the Customer Epiphany by Steve Blank 30 </li> <li> FIRST CAME STEVE The Customer Development process changes the way startups are built Startups are not smaller versions of large companies Co-founded 8 startups. 1996: E.piphany 1998: $3.4 MM sales 1999: IPO raised $72 MM Author of Four Steps to the Epiphany, Startup Owners Manual A startup as a temporary organization designed to search for a repeatable and scalable business model </li> <li> THEN CAME ERIC Continuous customer interaction A startup is an experiment A hypothesis to be tested Assume customer and features are unknowns Low burn by design Founded IMVU Parallels between Lean and Agile, caught fire in the startup community for software businesses, particularly mobile and SaaS models. Are we on the path to a sustainable business </li> <li> WHAT CAME BEFORE STEVE AND ERIC Lean Manufacturing Total Quality Management Kanban Continuous Improvement Agile 33 </li> <li> WHAT CAME BEFORE STEVE AND ERIC 34 </li> <li> KANBAN The Kanban Method respects the human condition. People resist change for emotional reasons. When change affects their self-image, self-esteem, or position with a social group, people will resist and the resistance will be emotional. The Kanban Method adopts the Zen Buddhism concept that "water goes around the rock." Hence, it focuses on changes that can be made without invoking emotional resistance, while visualization and limiting work-in-progress raise awareness of deeper issues allowing for an emotional engagement that helps to overcome resistance. Now take a deep, cleansing breath. Again. 35 </li> <li> AGILE AND LEAN INFLUENCES Hat tip: Ajay Revels 36 </li> <li> LEAN IS NEW AS A MOVEMENT, AND IS EVOLVING Well work on integrating design thinking practices Deeper UX methods Ethnography, particularly participant observation Customer interview techniques To get us deeper into unmet needs, latent and hidden needs Over the course of the semester And contributing back to how Lean LaunchPad evolves 37 </li> <li> FOR NEXT WEEK </li> <li> STEP 1: CUSTOMER DISCOVERY . Customer discovery translates a founding teams vision for the company into a hypothesis about each component of the business model and creates a set of experiments to test each hypothesis. Customer discovery is not about collecting features lists from prospective customers or running lots of focus groups. The founders define the product vision and then use customer discovery to find customers and a market for that vision. -Steve Blank, The Startup Owners Manual </li> <li> ESTIMATE YOUR TOTAL ADDRESSABLE MAKRET Total addressable market Served available market Target market Total addressable: how big is the universe? Served available market: how many can I reach with my sales channel? Target market: who will be the most likely buyers? </li> <li> NEXT WEEK PREP: . Alexandar Osterwalder on Business Model Canvas Video Read: Business Model Generation pp. 14-49. Video Lecture: Value Proposition Talk to at least 5 potential customers. Post first discovery narratives on your team blog. </li> <li> NEXT WEEK PRESENTATION: . Prepare a presentation guidelines below: Cover slide Latest version Business Model Canvas with changes marked Market size (TAM, SAM, Target Market) Total addressable: how big is the universe Served available market: how many can I reach with my sales channel? Target market: who will be the most likely buyers? Propose experiments to test your value proposition. What constitutes a pass/fail signal for each test? </li> <li> NEXT: CANVAS REVIEW AND CRIT GUEST SPEAKER: CHRISTIN ROMAN </li> </ul>