evidence-based entrepreneurship by steve blank
TRANSCRIPT
Moneyball
Evidence-Based Entrepreneurship&
Investment Readiness Levels
Steve Blank@sgblank
www.steveblank.com
Lean Startup
Lean Startup
Business Model Canvas
Lean Startup
Business Model Canvas
Customer Development+
Lean Startup
Business Model Canvas
Customer Development Agile Engineering+ +
Lean Startup
Business Model Canvas
Customer Development Agile Engineering+ +
Lean Startup
Business Model Canvas
Customer Development Agile Engineering+ +
Lean Startup
Business Model Canvas
Customer Development Agile Engineering+ +
Evidence-based Curriculum (NSF I-Corps/Lean LaunchPad)
Lean Startup
Business Model Canvas
Customer Development Agile Engineering+ +
Evidence-based Curriculum (NSF I-Corps/Lean LaunchPad)
Hypotheses
Lean Startup
Business Model Canvas
Customer Development Agile Engineering+ +
Evidence-based Curriculum (NSF I-Corps/Lean LaunchPad)
Hypotheses Experiments
Lean Startup
Business Model Canvas
Customer Development Agile Engineering+ +
Evidence-based Curriculum (NSF I-Corps/Lean LaunchPad)
Hypotheses Experiments Data
Lean Startup
Business Model Canvas
Customer Development Agile Engineering+ +
Evidence-based Curriculum (NSF I-Corps/Lean LaunchPad)
Hypotheses Experiments Data
Mentors
2,200 Teams Worldwide
• NSF Innovation-Corps
• 44 Universities Worldwide
• 30 Accelerators/Incubators
• Fortune 500 Companies
Training 300 Educators/Year
• Lean LaunchPad Educators Seminar• Lean LaunchPad Incubator/Accelerator Seminar
http://nciia.org/LLP
LaunchPad Central Software
Lean Startup
Business Model Canvas
Customer Development Agile Engineering+ +
Evidence-based Curriculum (NSF I-Corps/Lean LaunchPad)
Hypotheses Experiments Data
LaunchPad Central Software
DataDataData
Lean Startup
Business Model Canvas
Customer Development Agile Engineering+ +
Evidence-based Curriculum (NSF I-Corps/Lean LaunchPad)
Hypotheses Experiments Data
Weekly Progress
LaunchPad Central Software
DataDataData
Lean Startup
Business Model Canvas
Customer Development Agile Engineering+ +
Evidence-based Curriculum (NSF I-Corps/Lean LaunchPad)
Hypotheses Experiments Data
Weekly Progress Experiment Scorecard+
LaunchPad Central Software
DataDataData
Lean Startup
Business Model Canvas
Customer Development Agile Engineering+ +
Evidence-based Curriculum (NSF I-Corps/Lean LaunchPad)
Hypotheses Experiments Data
Weekly Progress Experiment Scorecard
Data, Experiments, Trajectory, IRL+ =
Data on Hypotheses, Pivots, MVPs, Metrics
Evidence and Trajectory
Cohort Leaderboard
Customer Interviews
Hypotheses to Test
Invalidated Hypotheses
Weekly Canvas Updates
Track All Hypotheses
Testing
Scorecard:9 way Kanban Board
with data
Advanced Data Mining
NASA
NASA/DOD Technology Readiness Level (TRL)
• Formal Way to assess project maturity• Quantify Relative Risks• Data Driven• Adopted by NASA, DOD, FAA, ESA…
NASA/DOD Technology Readiness: Levels 1 & 2
Basic Technology Research• Basic principles observed• Technology concept formulated
Concept
NASA/DOD Technology Readiness Levels 3 & 4
Research to prove Feasibility • Experimental proof of concept• Breadboard validation in lab
Research
Concept
NASA/DOD Technology Readiness Levels 5 & 6
Demo Prototype • Breadboard validation outside the building• System demo in real-world
Research
Concept
Demo
NASA/DOD Technology Readiness Levels 7, 8, 9
Deployment• System Development• System deployed in real-world
Research
Concept
Demo
What Can We Do With All This Data?
The Investment Readiness Level
Investment Readiness Level
Investment Readiness Level
We can do the same for new ventures
Investment Readiness Level
We can do the same for new ventures
Emphasis is on data
Investment Readiness Level
• A Formal Way to Quantify Relative Risks• Data Driven• Analog to NASA/DOD
Technology Readiness Level (TRL)
Investment Readiness: Levels 1 & 2
Hypotheses• Value Proposition summarized• Canvas hypotheses articulated
Hypotheses
Investment Readiness: Levels 3 & 4
Problem / Solution Fit• Problem Solution fit• Low fidelity MVP
Hypotheses
Problem/Solution
Investment Readiness: Levels 5 & 6
Validate• Product/Market fit• Right side of canvas
Hypotheses
Problem/Solution
Product/Market fit
Investment Readiness: Levels 7 & 8
Validate• Left side of canvas
Hypotheses
Problem/Solution
Product/Market fit
Investment Readiness: Levels 9
Metrics That Matter
Hypotheses
Problem/Solution
Product/Market fit
Left side of the canvas
Technology Readiness Level
Problem/Solution
Hypotheses
Product/Market Fit
Validate Right side of Canvas
Validate Left side of Canvas
Metrics that Matter
InvestmentReadiness Level
IRL Deployed …
“God is not on the side of the big arsenals, but on the side of those who shoot best.”
Voltaire
For more info Incubator/Accelerator Class http://nciia.org/LLP
www.steveblank.com
@sgblank
Lesson Learned Presentations Tonight
UCSF Mission BayByers Auditorium
5:30 – 7:30pm
www.steveblank.com
@sgblank