lean startup masterclass
TRANSCRIPT
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LEAN STARTUP MASTERCLASSHERLEEN, MARCH 26TH 2015
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+ANDERSEN & ASSOCIATESCORPORATE INNOVATION & GROWTH THROUGH ENTREPRENEURSHIP + SCIENCE
[email protected]+49 151 40 133 149
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ABOUT VIDAR ANDERSEN
• NORWEGIAN LIVING IN COLOGNE, DE SINCE 2005
• WORKING WITH F500 CORPORATIONS AND GOS SOLVING PROBLEMS WITH TECHNOLOGYSINCE 1996
• SERIAL STARTUP FOUNDER & ENTREPRENEUR WITH HITS & MISSES
• EDUCATOR (UNIVERSITY LECTURER ON STARTUP ENTREPRENEURSHIP, STARTUP NEXT INSTRUCTOR & CERTIFIED LEAN LAUNCHPAD EDUCATOR)
FOUNDING PRINCIPAL +ANDERSEN & ASSOCIATES
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WORKED WITH E.G.
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ANDERSEN FOUNDED E.G.
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FEATURED & RECOGNIZED
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“[Vidar Andersen] one of the most important persons in the German startup scene.” –
Wirtschafts Woche, April 2015
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CERTIFIED LLP EDUCATOR @STANFORD
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LLP LECTURE MARCH 2015 @ QAZVIN ISLAMIC AZAD UNIVERSITY, IRAN
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WHAT WE KNOW NOWWHY STARTUPS ARE NOT SMALLER VERSIONS OF COMPANIES
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STARTUPS ARE NOT SMALLER VERSIONS OF LARGER COMPANIES
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A COMPANY IS A PERMANENT ORGANIZATION
DESIGNED TO EXECUTE A REPEATABLE AND SCALABLE
BUSINESS MODEL IN A PREDICTABLE AND STABLE
ENVIRONMENT
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A STARTUP IS A TEMPORARY ORGANIZATION DESIGNED TO SEARCH FOR A REPEATABLE AND SCALABLE BUSINESS MODEL IN
AN ENVIRONMENT OF EXTREME UNCERTAINTY
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A STARTUP IS A TEMPORARY ORGANIZATION DESIGNED TO SEARCH FOR A REPEATABLE AND
SCALABLE BUSINESS MODEL
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COMPANY LIFE-CYCLE
SCALABLESTARTUP TRANSITION LARGE
COMPANY
SEARCH BUILD GROW• BUSINESS MODEL FOUND • PRODUCT-MARKET FIT • REPEATABLE SALES MODEL • MANAGERS HIRED
• CASH-FLOW BREAK-EVEN • PROFITABLE • RAPID SCALE • NEW SENIOR MANAGEMENT • AROUND 150 PEOPLE
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SEARCH
BUSINESS MODEL GENERATION
CUSTOMER DEVELOPMENT
AGILE ENGINEERING
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EXECUTION
LARGE COMPANY
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WHAT WE KNOW NOW• STARTUPS ARE NOT SMALLER VERSIONS OF LARGER COMPANIES
• STARTUP IS TEMPORARY ORG, IN SEARCH OF SCALABLE REPEATABLE BUSINESS MODEL
• NO BUSINESS PLAN EVER SURVIVES FIRST CONTACT WITH CUSTOMERS
• BUSINESS MODEL CANVAS INSTEAD OF BUSINESS PLANS
• CUSTOMER DISCOVERY INSTEAD OF EXECUTION
• AGILE ENGINEERING PROCESSES INSTEAD OF WATERFALL
• MINIMUM VIABLE PRODUCT INSTEAD OF BETAS
• BUILD - MEASURE - LEARN: ITERATION AND SPEED OF THE ESSENCE
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THE LEAN STARTUP
BUSINESS MODEL GENERATION
CUSTOMER DEVELOPMENT
AGILE ENGINEERING
THE LEAN
STARTUP=
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WHAT IS A BUSINESS MODEL?
INTRODUCING BUSINESS MODEL GENERATION
BUSINESS MODEL GENERATION
CUSTOMER DEVELOPMENT
AGILE ENGINEERING
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VALUE PROPOSITION CANVAS
https://www.youtube.com/watch?v=aN36EcTE54Q
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CUSTOMER DEVELOPMENTCUSTOMER DISCOVERY & VALIDATION
BUSINESS MODEL GENERATION
CUSTOMER DEVELOPMENT
AGILE ENGINEERING
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AGILE ENGINEERINGMVP, BUILD-MEASURE-LEARN IN SMALL ITERATIVE BATCHES
BUSINESS MODEL GENERATION
CUSTOMER DEVELOPMENT
AGILE ENGINEERING
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AGILE ENGINEERING• MINIMUM VIABLE PRODUCT INSTEAD OF FEATURE-COMPLETE
• BUILD-MEASURE-LEARN ITERATIONS IN SMALL BATCHES INSTEAD OF VERSION COMPLETE & WATERFALL PROCESS
• GOOD ENOUGH VS PERFECT - SPEED IS OF THE ESSENCE
• DATA / TEST DRIVEN DESIGN - HYPOTHESIS TESTING
• AUTOMATED ACCEPTANCE TESTING + USER STORIES / SCENARIOSDESCRIBE WHAT WE WANT TO SEE THE SOFTWARE DO, THEN AUTOMATE THE VERIFICATION THAT THE SOFTWARE ACTUALLY DOES IT
• CONTINUOUS DEPLOYMENT, MULTIVARIABLE A/B TESTING, PAIR PROGRAMMING (XP), SCRUM & KANBAN
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DEFINE YOUR PASS / FAIL CRITERIA
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PASS / FAIL CRITERIA
• TESTING YOUR CRITICAL ASSUMPTIONS, YOU NEED TO DEFINE THE SUCCESS AND FAIL CRITERIA IN ADVANCE TO KEEP YOU FROM FUDGING THE FINDINGS TO FIT YOUR BELIEFS AFTER THE FACT
• IT NEEDS TO BE A QUANTITATIVE OR QUALITATIVE RESULT
• 40% IS OFTEN USED AS THE SUCCESS LIMIT
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EXAMPLE
I BELIEVE THAT PEOPLE LIKE (CUSTOMER SEGMENT ) HAVE A NEED FOR OR PROBLEM D O I N G ( N E E D / A C T I O N /BEHAVIOR) AND I WILL KNOW THAT I HAVE SUCCEEDED WHEN (QUANTITATIVE / M E A S U R A B L E O U T C O M E ) O R (QUALITATIVE / OBSERVABLE OUTCOME)
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THE MINIMUM
VIABLE PRODUCT (MVP)
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MVP: THE SMALLEST BATCH THAT
WILL TEACH YOU SOMETHING
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MORE THAN ONE WAY TO MVP
THERE ARE SEVERAL TYPES OF MVPS
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THE EXPLAINER VIDEO
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THE LANDING PAGE
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THE WIZARD OF OZ
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THE WIZARD OF OZ - ZAPPOS
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MVP
THE CONCIERGE
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THE CONCIERGE - FOODONTHETABLE
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THE PIECEMEAL
MVP
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THE PIECEMEAL - AARDVARK
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CROWD FUNDING
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CROWD FUNDING - COOLEST: $13.4M
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MVP - SEVERAL TYPES:• EXPLAINER VIDEO (DROPBOX)
• A LANDING PAGE
• WIZARD OF OZ MVP (ZAPPOS)
• CONCIERGE MVP (FOOD ON THE TABLE)
• PIECEMEAL MVP (WIZARD OF OZ + CONCIERGE)
• CROWD FUNDING (SELL BEFORE YOU BUILD)
• SINGLE-FEATURE MVP (GOOGLE)
• ETC
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DEFINE YOUR MVPWHAT CAN YOU RELEASE IN ONE DAY TO START
TESTING YOUR HYPOTHESES?
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HOW AND WHAT WILL YOU TRACK?
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MEASURE THE DATA FROM YOUR MVP
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COMPARE DATA TO PASS / FAIL CRITERIA
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ACT & ADJUST ACCORDINGLY
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AND TEST AGAIN
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IN BUILD - MEASURE - LEARN CYCLES
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ITERATE OR PIVOT AS NEEDED
RELEASING SMALL BATCHES
IN BUILD-MEASURE-LEARN CYCLES
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LET’S CONNECT:TWITTER.COM/BLACKTAR
FACEBOOK.COM/BLACKTAR LINKEDIN.COM/IN/VIDARANDERSEN
VIDARANDERSEN.COM
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+ANDERSEN & ASSOCIATESCORPORATE INNOVATION & GROWTH THROUGH ENTREPRENEURSHIP + SCIENCE
[email protected]+49 151 40 133 149