i  want  my  bike  back    

Lean  Startup  Machine  Boulder,  CO  May  20,  2012  

Problem:  2  million  broken  hearts  

“iwantmybikeback”    

GPS  tracking  device  and  mobile/web  applicaDon  

SoluDon  

Enter,  Elena  (the  target)  

The  Commuter  •  Bike  is  integral  to  life  •  $500  bike  •  Disposable  income  •  Trendy  •  Uses  social  media  •  Has  a  smartphone  •  Early  Adopter  •  Looking  for  a  soluDon  to  

keep  her  bike  safe  

ITERATIONS   1   2   3   4  

Test   Alarm,  RFID,  GPS,  lock?  

Fitness  App  SubscripDon  

People  will  not  act  

Price  

AssumpDon   People  want  GPS  

Want  more  features  

FatalisDc   People  will  pay  $100    

Metrics   VALIDATED  8/17  

INVALIDATED  2/12  

INVALIDATED  7/10  

VALIDATED  21/23  

Learned   Locks  don’t  cut  it  

No  monthly  fee  

File  police  reports  

$100  is  good    

AcDon   PIVOT   PIVOT   PIVOT   PERSEVERE  

IteraDons  

@wantmybikeback  

A/B  tesEng  10  visits  per  hour  

iwantmystu\ack.com  

THANK  YOU.  QuesDons  &  Answers