day22016 mbashort

Bora Özkent

NEW VENTURE

DEVELOPMENT DAY-2

WHAT IS A STARTUP?

New Venture Development, Bora Özkent 2014

2

Why?

Since WW2

startups have

made %50 of all

innovation and

95% of radical

innovation in US.

24 times more

innovation per R&D

dollars.


3

4New Venture Development, Bora Özkent

2014


2014

Startups Are Not Smaller Versions of Big

Companies


7

8

WHAT IS A STARTUP?

a human institution

designed to deliver a

product or service

under extreme uncertainty

experiment

Companies vs Startups


12

A startup is a hypothesis

(or a set of hypotheses)

Every hypothesis needs testing

hypothesis testing methods


15

LEAN STARTUP


16

70%10 % make money

fail


17

Moststartups

fail from alack of

(paying)customers.


18

We need

structured

learning before we

execute.


19

Startups are special creatures

• There Are No Facts Inside

Your Building, So Get

Outside

• Failure is an Integral Part

of the Search for the

Business Model

• If You’re Afraid to Fail

You’re Destined to Do So

• Validate Your Hypotheses

with Experiments

• No Business Plan

Survives First Contact

with Customers

• Startup Metrics are

Different from Existing

Companies

• Fast, Fearless Decision-

Making, Cycle Time, Speed and

Tempo

• If it’s not About Passion, You’re

Dead the Day You Opened your

Doors

• Startup Titles and Functions

Are Very Different from a

Company’s

• Preserve Cash While

Searching. After It’s Found,

Spend

• Communicate and Share

Learning

• Startups Demand Comfort with

Chaos and Uncertainty

RUNNING WITH LEAN

CANVAS


2014

Validate Problem/Solution Fit

Problem/Solution Fit

Product/Market Fit

Scal

e

Do I have a problem worth solving?

Thursday, November 4, 2010

Achieve Product/Market Fit

Have I bui l t something people want?


Product/Market Fit

Scal

e


Requireme

nts

Relea

se

Developme

ntQ

A

Some learning

Very l i t t le learning

Most learning happens here


Requireme

nts

Relea

se

CustomerDiscovery

CustomerValidation

ContinuousDeployment


Before Product/Market Fit

Validated Learning

Pivots


Product/Market Fit

Scal

e


After Product/Market Fit

Growth

Optimizations

Validated Learning

Pivots


Product/Market Fit

Scal

e



33

Business Model vs Business Plan

A document investors make you write

that they don’t read


Business Model vs Business Plan

A single diagram of your business


Homework for Tomorrow

• Read Running Lean

– Part-2 Create Your Lean Canvas (Pages 23-45)

• Watch Video Again: Running Lean / Ash Maurya

https://www.youtube.com/watch?v=7o8uYdUaFR4

• Optional: Visit Ash Maurya’s You Tube Channel and Watch

an extra video and prepare

comments:https://www.youtube.com/channel/UCimRGeoiw

UPmIddym-HdaCg

• Prepare the first version of your Lean Canvas (Use

LeanStack.Com for documentation)

• Send it to me until latest 12 AM tomorrow as single slide

with your team name on it.

36

https://www.youtube.com/watch?v=7o8uYdUaFR4

https://www.youtube.com/channel/UCimRGeoiwUPmIddym-HdaCg