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Lean Startup
Daniel Gergès – May 2013
A propos
• Past
– Wokup (2000)
– Weem (2008)
– And dozens of other projects
• Now
– Expert Cloud / Mobile @Sage
– Startup Advisor
• Tags
– #startup
– #mobile
– #cloud
– #bigdata
– #customer
Why ?
• Startups fail more often than they don’t
• Startups = problem not known, product not known
• Startups fail by lacking to find customers and a proven
distribution model, not by lack of a product.
• Yet traditional methodologies focus on product
development.
Traditional Attitudes
What’s wrong with traditional
approach ?
BP Product Development Beta Launch
1st ship
• Sales & marketing start after an arbitrary ship date
• Assumption = At Ship Date, Product / Market fit is found
• Focus on execution / versus learning
• This model assumes you know who your customers are
• Environment is changing fast
• You discover very late that you spent time on features that
your customers don’t want or won’t use.
If you build it they will (most of the
time not) come
• You don’t solve a problem for customers
• Problem you solve is not important
• Distribution costs too high
• You’re not visible or don’t have access to
market
• Remember customers have their own life or
business to run
What’s Lean Startup ?
A Set of practices for helping
entrepreneurs increase their
odds of building a successful
startup.
- Fast iteration,
- Experimentation,
- Constant Customer interaction,
- Revenues centric,
- Assumes Customer / Features
are unknown
Lean Startup Principles
• Experiment
• Customer Development
• Build / Measure / Learn feedback loop
• MVP
• Pivot
• Agile software development
Customer Development
• A set of clearly identified step to discover:
– Who the first customers will be,
– A repeatable sales process
• See the stops, go backward if necessary
• Can take 1-2 years
Technology adoption
Early Adopters
Build / Measure / Learn
Strategy
Pivot
Experiment
• Experimentation is at the heart of the method
• Experimentation validate strategy / vision
• Strategy is a set of hypothesis / assumptions
• Value Hypothesis
– Who are the customers,
– What problem do they have,
– How the product will solve the problem
– How much they’re willing to pay,
• Growth Hypothesis
– How you’ll reach customers,
– Sales cycle model
– Revenues hypothesis
– Conversion rates.
• Hypothesis need to be specific and provable
• Chose the hypothesis on which your business rely
MVP
• No Rules
• Minimum features to validate assumptions
– Concierge MVP
– Mock Ups
– Landing Page
– Pre-orders,
– Demo Video,
– Blog
– Product Beta
– Prototypes
– …
• Additional work to create measure points
• Additional work for testing hypothesis
Measures
• Validated learning <> learning
• Set-up metrics
• Vanity / Actionable Metrics
– Vanity : cumulated,
– Actionable : Funnel / Cohorts
• Metrics
– Visits,
– Registrations,
– Activations,
– Retention,
– Referrals,
• Run experiments in small batch
– Know which changes impacted the metrics
Pivot
• Build / Measure / Learn loop should lead to validated
learning, metrics which validate the strategy assumption.
• When that’s not the case and all optimizations have been
done, it’s time for a pivot.
• Pivot = modification of the strategy (value hypothesis,
growth hypothesis)
• Lean advantage allows to take the pivot (or persevere)
decision sooner, faster (cash burn)
Type of pivots
• Zoom-in pivot
• Zoom-out pivot
• Customer Segment pivot
• Customer Need Pivot
• Platform Pivot
• Business Architecture Pivot
• Value Capture Pivot
• Channel Pivot
• Technology Pivot
Barriers to adoption
• I’m convinced it will work
• I’m afraid to see that it won’t work
• We can’t release so few features to customers
• I have Alternative Revenue Streams
• Analysis Paralysis (don’t test ideas)
• MVP is built, but never tested
• I’m in B2B sales this won’t work
• There’s no compelling metrics I can find
Key Take Aways
• Lean <> Set of tactics
• Lean = Systematic Approach
• Customer Development // Product Development
• Carefully choose metrics
• Constant customer interactions
• Fast iterations
• Courage 
Recommended readings
Contacts
dgerges@gmail.com
@danielito
www.danielgerges.com

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Lean startup

  • 2. A propos • Past – Wokup (2000) – Weem (2008) – And dozens of other projects • Now – Expert Cloud / Mobile @Sage – Startup Advisor • Tags – #startup – #mobile – #cloud – #bigdata – #customer
  • 3. Why ? • Startups fail more often than they don’t • Startups = problem not known, product not known • Startups fail by lacking to find customers and a proven distribution model, not by lack of a product. • Yet traditional methodologies focus on product development.
  • 5. What’s wrong with traditional approach ? BP Product Development Beta Launch 1st ship • Sales & marketing start after an arbitrary ship date • Assumption = At Ship Date, Product / Market fit is found • Focus on execution / versus learning • This model assumes you know who your customers are • Environment is changing fast • You discover very late that you spent time on features that your customers don’t want or won’t use.
  • 6. If you build it they will (most of the time not) come • You don’t solve a problem for customers • Problem you solve is not important • Distribution costs too high • You’re not visible or don’t have access to market • Remember customers have their own life or business to run
  • 7. What’s Lean Startup ? A Set of practices for helping entrepreneurs increase their odds of building a successful startup. - Fast iteration, - Experimentation, - Constant Customer interaction, - Revenues centric, - Assumes Customer / Features are unknown
  • 8. Lean Startup Principles • Experiment • Customer Development • Build / Measure / Learn feedback loop • MVP • Pivot • Agile software development
  • 9. Customer Development • A set of clearly identified step to discover: – Who the first customers will be, – A repeatable sales process • See the stops, go backward if necessary • Can take 1-2 years
  • 12. Build / Measure / Learn Strategy Pivot
  • 13. Experiment • Experimentation is at the heart of the method • Experimentation validate strategy / vision • Strategy is a set of hypothesis / assumptions • Value Hypothesis – Who are the customers, – What problem do they have, – How the product will solve the problem – How much they’re willing to pay, • Growth Hypothesis – How you’ll reach customers, – Sales cycle model – Revenues hypothesis – Conversion rates. • Hypothesis need to be specific and provable • Chose the hypothesis on which your business rely
  • 14. MVP • No Rules • Minimum features to validate assumptions – Concierge MVP – Mock Ups – Landing Page – Pre-orders, – Demo Video, – Blog – Product Beta – Prototypes – … • Additional work to create measure points • Additional work for testing hypothesis
  • 15. Measures • Validated learning <> learning • Set-up metrics • Vanity / Actionable Metrics – Vanity : cumulated, – Actionable : Funnel / Cohorts • Metrics – Visits, – Registrations, – Activations, – Retention, – Referrals, • Run experiments in small batch – Know which changes impacted the metrics
  • 16. Pivot • Build / Measure / Learn loop should lead to validated learning, metrics which validate the strategy assumption. • When that’s not the case and all optimizations have been done, it’s time for a pivot. • Pivot = modification of the strategy (value hypothesis, growth hypothesis) • Lean advantage allows to take the pivot (or persevere) decision sooner, faster (cash burn)
  • 17. Type of pivots • Zoom-in pivot • Zoom-out pivot • Customer Segment pivot • Customer Need Pivot • Platform Pivot • Business Architecture Pivot • Value Capture Pivot • Channel Pivot • Technology Pivot
  • 18. Barriers to adoption • I’m convinced it will work • I’m afraid to see that it won’t work • We can’t release so few features to customers • I have Alternative Revenue Streams • Analysis Paralysis (don’t test ideas) • MVP is built, but never tested • I’m in B2B sales this won’t work • There’s no compelling metrics I can find
  • 19. Key Take Aways • Lean <> Set of tactics • Lean = Systematic Approach • Customer Development // Product Development • Carefully choose metrics • Constant customer interactions • Fast iterations • Courage 