A presentation to Startup Chile

1. A practical introduction to
Lean Startup Thinking
@RyanLou

2. Eric Ries Steve Blank
Startup Lessons Learned SteveBlank.com
Ash Maurya

3. The basis of lean startups
Learning which activities
in a startup creates value

4. Everything we thought we knew
• Of course people have problems
(problem hypothesis)
• Sure, everyone will use it
(customer hypothesis)
• I’m smart, my product is exactly what the
world needs
(product validation)

5. Build - Measure - Learn
Refer to: http://lean.st/principles/build-measure-learn for notes on the principle
and http://www.designstaff.org/articles/shortening-the-build-measure-learn-cycle-
2012-02-06.html for how to create an action plan through the BML

6. Start with a
measurable customer
hypothesis
Then focus on the
more critical ones first

7. 3 ways to test
• Problem exploration
– “Get the F out for the weekend”
• Concierge service
– “Manually build out websites” – Sprout Route
• Product pitch
– Collect currency (time, money, commitment)

9. Airbnb case study
• Vision: Develop a professional photography program that compliments
Airbnb’s core business
• Hypothesis: Hosts with professional photography will get more sign-ups
• Secondary: They will sign-up for it
• MVP: Spreadsheet with concierge service, contact host if they want
professional pictures, send photographer, upload to dropbox, pay
photographer
• Measure: vs Control (professional photos get 2 – 3x more business)
• Learn: Photographer turnaround, Host conversions, % of listings covered
Go to: http://www.udemy.com/lectures/growth-airbnb-case-study-joe-zadeh-76819

10. How to get through the loop
• Experiments:
We believe people have problems launching their startups
The smallest thing we need to prove that need is to give them
money (maybe 40k?)
We will know they are successful when they finish spending the
money

11. How to get through the loop
• Experiments:
We believe people have problems launching their startups
The smallest thing we need to prove that need is to give them
money (maybe 40k?)
We will know they are successful when they finish spending the
money

12. How to get through the loop
• Experiments:
We believe people have problems:
The smallest thing we need to prove that need is to:
We will know they are successful when they:

13. Testing ALA startup validation
Step 1: List all the assumptions you’re making about your
business
Step 2: Highlight the ones that are most critical (go / no-go)
factors
Step 3: Figure out how to measure and evaluate it (without bias)
Step 4: Build an experiment to test, GET OUT OF THE BUILDING,
Step 5: Learn, rinse and repeat

14. Our mistakes from round 2
• Make sure you solve a problem you care about
• Get feedback from the right people (not just
SUP)
• Lean startups is NOT just talking to customers
• Cost of shipping too soon (minimal), cost of
shipping too late (fatal)

15. Now get out of
the building

16. Best way to learn is to do it
• BUT, these might help:
– Udemy lean startup at sxsw (http://www.udemy.com/lean-startup-sxsw-
2012-videos-and-presentations/)
– Eric ries’ blog (www.startuplessonslearned.com )
– Steve blank’s blog (www.steveblank.com )
– Ash Maurya (www.ashmaurya.com)
– How to create a lean canvas (http://startit.rs/wp-
content/uploads/LeanCanvas.pdf)
– Lean canvas online (http://leancanvas.com/)
– What is Lean UX
(http://uxdesign.smashingmagazine.com/2011/03/07/lean-ux-getting-
out-of-the-deliverables-business/)
– We got it wrong, learn-measure-build
(http://grasshopperherder.com/build-measure-learn-vs-learn-measure-
build/)