"lean startup" - for smarte investorer og gründere - helge hannisdal @ first tuesday...
TRANSCRIPT
lE sTTUfO SmAE IEsTEr GünDE
Entrepreneur phase1999
Idéa
Growth phase
Operating phase
Internationalization
Consolidation2012
214 employees - 8 countriesrevenue 200MNOK - valuation 600MNOK
CEO
CTO
CMO
INTERESTS
ENTREPRENEURSHIPNYSKAPNINGSPARKEN
CONNECT VEST
MENTOR
BUSINESS ANGEL
TECHNOLOGYINNOVATION
SALESMARKETING STRATEGY
DISRUPTIVE
ENTREPRENEUR
BOARD OF DIRECTORSINNOVASJON NORGE STARTUP WEEKEND
75%Fails/bankrupt.
Revenue > 1M SEK after 3 years.
9%
sTTuP Vs IsTG CPaNSThe startups starts with an series of unknowns (hypothesis) (mostly)
They Search
Existing companies deal with execution of knows (mostly)
They Execute
The insight is that management tools built to execute don’t work for searching
Lean Startup is an collection of new tools designed for search mode
a An AUp A RaDIoN cOANsrAGysrAGyBusiness ModelHypothesis-driven
Business PlanImplementation-driven
EW RoDT RoCSEW RoDT RoCSCustomer DevelopmentGet out of the office and test hypothesis
Product ManagementPrepare offering for market following a linear, step-by-step plan
NgIENgNgIENgAgile DevelopmentBuild the product iteratively and incrementally
Agile or Waterfall DevelopmentBuild the product iteratively, or fully specify the product before building it
OrnIzioOrnIzioCustomer and Agile Development TeamsHire for learning, nimbleness and speed
Departments by FunctionHire for experience and ability to execute
FinCl RerTgFinCl RerTgMetrics that MatterCustomer acquisition cost, lifetime customer value, churn, viralness
AccountingIncome statement, balance sheet, cash flow statement
FaurFaurExpectedFix by iterating on ideas and pivoting away from ones that don’t work
ExpectionFix by firing executives
SpdSpdRapidOperates on good-enough data
MeasuredOperates on complete data
Steve Blank, Harvard Business Review 2012
N SRtU Is tEOrA oRNiZIN dEGnE To sECh fO A rEAtAE N
sCAL bUNeS MEl.- Steve Blank
hvor putter vi denne sliden?
tH LeA StAUp TO
lE sTTuP EtH - 3 CPoNTs
business model design - canvas with testable hypotheses
customer development - get out of the building and test the hypotheses
agile development - building a minimum viable product (MVP)
UsISs DL EGnHe SiNS MEl NS dERiB lOCaL W yO bUNeS WoR oN sILe Ge.
AcH OmPEnT OnTNS a RiE Of PoTSiS HT yO NeE To St.
Lean Canvas is adapted from The Business Model Canvas (BusinessModelGeneration.com) and is licensed under the Creative Commons Attribution-Share Alike 3.0 Un-ported License.
Problem
Top 3 problems
Existing Alternatives
Solution
Top 3 features
Unique Value Proposition
Single, clear compelling message that states why you are different and worth buying
High-Level Concept
Unique Value Proposition
Single, clear compelling message that states why you are different and worth buying
High-Level Concept
Unfair Advantage
Can’t be easily copied or bought
Customer Segments
Target customers
Early Adopters
Problem
Top 3 problems
Existing Alternatives
Key Metrics
Activity that drives retention/revenue
Unique Value Proposition
Single, clear compelling message that states why you are different and worth buying
High-Level Concept
Unique Value Proposition
Single, clear compelling message that states why you are different and worth buying
High-Level Concept
Channels
Path to customers
Customer Segments
Target customers
Early Adopters
Cost Structure
Customer Acquisition CostsDistribution CostsHostingStaff etc.
Cost Structure
Customer Acquisition CostsDistribution CostsHostingStaff etc.
Cost Structure
Customer Acquisition CostsDistribution CostsHostingStaff etc.
Revenue Streams
Revenue ModelLife Time ValueRevenueGross Margin
Revenue Streams
Revenue ModelLife Time ValueRevenueGross Margin
Revenue Streams
Revenue ModelLife Time ValueRevenueGross Margin
1
UsTER EvEPNt
g o o t Budi!- Steve Blank
2
Search Execute
Problem/SolutionFit
Product/MarketFit
Scale
Pivots Optimizations
Validated Learning Revenue & Growth
Method
How to change
Objective
Requirements Development QA Release
ReASt Sk nO DeVOpMT O NeW RoDTs,bU DeVOpMT O CuSMeR AnD ArKS.
- Steve Blank
Mt EaRNg PpE Re
TritIAl OdU dELoPNt
V
2 weeks - 2.000$ 9 months - 82.000.000$
GE EvEPNt
TaRPs wAt CcE aR ThO tH mAGe iTATeNGh MeS EfO rUInG Ut rEUEs.
- Eric Ries
3
Steve Blank, Harvard Business Review 2012
short repeatable cycles
continuously revise MVP
IDEAS
PRODUCTDATA
-- EeDCk Op
BUILD
MEASURE
LEARNbUD AEr
Unit TestsUsability Tests
Continuous IntegrationIncremental Deployment
Free & Open-Source ComponentsCloud Computing
Cluster Immune SystemJust-in-time Scalabilty
RefactoringDeveloper Sandbox
lEN AErSplit TestsCustomer InterviewsCustomer DevelopmentFive Whys Root Cause AnalysisCustomer Advisory BoardFalsifiable HypothesesProduct Owner AccountabilityCustomer ArchetypesCross-functional TeamsSmoke Test
Meur AErSplit TestsClear Product OwnerContinuous DeploymentUsability TestsReal-time MonitoringCustom Liason
Funnel AnalysisCohort Analysis
Net Promoter ScoreSearch Engine Marketing
Real-time AltertingPredictive Monitoring Eric Ries / KissMetrics
WireframesPrototypes
Landing PagesFocus Group
cUOmE DeVOpMT
eAY APRs
Ino
HeR ArE O FTs SiD YR bUDN
OuR SsUTiO mU E vADaT bY UtU cUORs
Lean Canvas is adapted from The Business Model Canvas (BusinessModelGeneration.com) and is licensed under the Creative Commons Attribution-Share Alike 3.0 Un-ported License.
Problem
Existing Alternatives
Solution Unique Value Proposition
High-Level Concept
Unique Value Proposition
High-Level Concept
Unfair Advantage Customer Segments
Early Adopters
Problem
Existing Alternatives
Key Metrics
Unique Value Proposition
High-Level Concept
Unique Value Proposition
High-Level Concept
Channels
Customer Segments
Early Adopters
Cost StructureCost StructureCost Structure Revenue StreamsRevenue StreamsRevenue Streams
?? ? ? ?
??? ?
hOw To T IIH?Talk to customers (interviews)
Landing page experiments
Observe customer using competing/similar product
Concierge test
Demo/Present your wireframe/mockups/prototype
Test apps
Crowd-Funding test
He Al AsU oF UcCS I ThE UmB OeXRiMTs At N B CrOwEd TO 2 HRs.”
- Thomas Alva Edison
cOIGe cRwD FDN
iTAtE R POtRoleplaying game to Flickr
HotOrNot.com to Facebook
Tune In Hook Up to Youtube
Personal podcasting to Twitter
Cellular Phone for kids to simcard to Bipper (iphone app)
iTAT - mIR CNgE N oN Or Re SiNS MEL cOONt
pIT - N SStAIE cHGE i O oR OE bUNeS MoD cOONt
m - InIM VBlE RoDT
“The minimum viable product is that version of a new product which allows a team to collect the maximum amount of validated learning about customers with the least effort."
- Eric Ries
mV TiMIN
Me
low-fidelity
concierge
wireframes
detaillevel
customers
type
days
interviews
sketch
high-fidelity
video
prototype
pre-sales
weeks
mockup
letter of intent sell
pixel perfect
finished actualproduct
months
ship
effort
roadmap
vision
years
value prop
Ce: Ketodetaillevel
customers
type
surveys
effort Q4 2009
value propproblems
low-fidelity
new sales
complete mvp
finished actualproduct
ship
aug 2010
high-fidelity
prototype (40%)
pilot agreement
mockup (60%)
Q1 2010
HF#$#LIMITED#PROTOTYPE#
KEYSTONE(IN(BRIEF(Keystone(is(a(web(based(control;centre(for((real;=me(monitoring,(management(and((planning(of(equipment(opera=ons(in((the(oil(industry.(
www.keystone.no(
interviews
gO TrAIO?JAN FEB MAR APR MAY JUN AVG
Customer Meetings
19 24 16 22 19 14 22
New contracts 8 6 8 4 4 4 6
Conversion Rate (%)
42 % 25 % 50 % 18 % 21 % 29 % 31 %
97,5% retention
Confirms “Product/Market” fit
wA tO EaR MR?http://steveblank.com/tools-and-blogs-for-entrepreneurs/ Steve Blank
http://spark59.com Ash Maurya
http://www.startuplessonslearned.com Eric Ries
http://www.businessmodelgeneration.com Alexander Osterwalder
ROALD:
FÅR NOE PÅ BERGEN LEAN STARTUP CIRCLE
LærE Er EN TaRP?Utveksle Lean Startup erfaringer med andre?
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