how to run your library like a startup
TRANSCRIPT
How to Run Your Library Like a Startup
June 3, 2015Helen Kula & M.J. D’Elia
welcome
Helen Kula@helenkula
U of Toronto Mississauga
M.J. D’Elia@mjdeliaUniversity of Guelph
• Context• Five strategies• Discussion
Agenda
• Introduce startup thinking• Suggest practical steps to get started• Invite discussion
Objectives
Libraries are NOT startups
No revenue model
Libraries are NOT startups
Institutional complexity
Legacy systems
Analog and digital
Inherited tradition
The case for startup thinking
The case for startup thinking
Limited resourcesConditions of uncertainty
Platform building
Anticipate change
Commitment to mission
Startup Myths
Entrepreneurs love risk
They use processes to reduce risk
Entrepreneurs rely on intuition
They use data to make decisions
Entrepreneurs launch fully formed businesses
Entrepreneurs commit to iterative improvement
Startups are focused on learning quickly. They offer valuable approaches thatwe could translate to our context.
Premise
five strategies
1. Focus on the problem
Understand the core challenge yourcustomers are trying to solve.
Focus on the problem
• What are they trying to do? Why?• What pains are they experiencing?
• Get out of the building• Listen more, talk less• Seek out non-users• Gather and evaluate feedback
How to focus on the problem
A fundamental change in strategy based on validated learning; a course correction.
Pivot
(Ries, 2011)
Be prepared …to be humbled
2. Build for the few
Focus development on one or two key groups who will benefit from the service.
Build for the few
• Who stands to gain the most? • Which groups are easiest to reach?
• Choose customers who share a need• Choose customers you can access• Find early adopters• Invite them to co-create
How to build for the few
Breaking down a larger market into smalleridentifiable groups of users who sharespecific needs.
Segmentation
(Cooper & Vlaskovits, 2010)
Be prepared…for pressure to increase scope
3. Build-measure-learn
Iterate and improve your approach based on what you learn.
Build-measure-learn
• Which assumption can you test next?• What can you build to test it?
• Build successive prototypes• Monitor user behavior• Run A/B tests
How to build-measure-learn
A product or service with just enoughfeatures that allow it to reach the market.
Minimum Viable Product
(Ries, 2011)
Be prepared…to accept imperfection
4. Monitor key metrics
Track data that indicate the ongoinguse of the product or service.
Monitor key metrics
• Which data are essential?• How can you measure impact?
• Choose key data points to track• Monitor data frequently• Make changes based on data
How to monitor key metrics
Monitoring key metrics in (near) real-time to track core elements of the business.
Dashboarding
(Komisar & Mullins, 2009)
Be prepared…to abandon your library stats
5. Articulate your value
Communicate the benefits that you generatefor your customers clearly and precisely.
Articulate your value
• Why would people choose you?• What’s in it for your customers?
• Make your value explicit• Be succinct• Tailor your value to each segment• Internalize values with staff
How to articulate your value
The bundle of products and services thatcreate value for a specific customer segment
Value proposition
(Osterwalder & Pigneur, 2010)
Be prepared…for disagreement
wrap
• Focus on the problem• Build for the few• Build-measure-learn• Monitor key metrics• Articulate your value
Five strategies (review)
Discussion
Blank, S. (2014). Steve Blank [blog]. Retrieved from http://steveblank.com
Blank, S. & Dorf, B. (2012). The Startup Owner’s Manual. Pescadero, CA: K&S Ranch
Cooper, B. & Vlaskovits, P. (2010). The Entrepreneur’s Guide to Customer Development. Newport
Beach, CA: Cooper-Vlaskovits
Komisar, J. & Mullins, R. (2009). Getting to Plan B. Cambridge, MA: Harvard Business.
MaRS. Entrepreneur’s Toolkit. Retrieved from http://www.marsdd.com/entrepreneurs-toolkit/
Mathews, B. (2012, April). Think like a Startup [white paper]. Retrieved from
http://vtechworks.lib.vt.edu/handle/10919/18649
Osterwalder, A. & Pigneur, Y. (2010). Business Model Generation. Hoboken, NJ: Wiley
Ries, E. (2011). The Lean Startup. New York: Crown.
References