Lean Startup 101 and useful resources -

Interpreting LeanStartUp

Paul HeemskerkDelft, May 11 2012

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Long-term goal

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High Impact Firms ARE Important for the Economy

http://youtu.be/M7VZIbeUrSU @pmheemskerk

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LeanStartUp

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LeanStartUp – Builds a.o. on:

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What's a StartUp?

Borrowed from Steve Blank

A temporary organizationdesigned to search for

a repeatable and scalable

business model

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LeanStartUp 101 @pmheemskerk

Terminology LeanStartUp

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Borrowed from Steve Blank

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Borrowed from Steve Blank

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Problem / Solution Fit

Problem / Market Fit

Problem / Solution Fit

Scale

Stage 1

Stage 2

Stage 3

Focus:Validated Learning

Experiments:Pivots

Focus:Growth

Experiments:Optimizations

Ideal Time to Raise Funds

Borrowed from Ash Maurya

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The Pivot

A Change in STRATEGYWithout

A Change in VISION

(Steve Blank)

(Eric Ries)

=

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Statements (1)Your product is NOT the product (Maurya)

A StartUp is NOT a smaller version of a large company (Blank)

Accountants don't run startups (Blank)

No Business Plan survives first contact with customers (Blank)

Incorrect prioritization of risk is one of the top contributors of waste (Maurya)

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Devote 20% of your time to setup, 80% to conversations (Maurya)

Hire advisors for good advice, but don't follow it, apply it (Venture Hacks)

You don't need code to test a software product (Dropbox)

Life is too short to keep building something nobody (or not enough people) want (Maurya)

Validate Qualitatively, Verify Quantitatively (Maurya)

Statements (2)

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If you have a lot of uncertainty now, you don't need much data to reduce uncertainty significantly.

When you have a lot of certainty already, then you need a lot of data to reduce uncertainty significantly.

(Douglas Hubbard)

Statements (3)

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Document Your Plan A

– BrainstormCustomers

– Create Lean Canvases

Identify Parts of

Your PlanSystematically Test Your Plan

Understand Problem

Define Solution

Validate Qualitativel

y

Verify Quantitatively

– Prioritize Risks

– Business Model

Interviews

– Find Prospects– Problem Interviews

– Build Demo– Solution Interviews– Build MVP

– Build Dashboard

– MVP Interviews

– Realize UVP– Validate Full

Life Cycle

– Constrain Features

– Measure Progress

– Achieve Early Traction

– Identify Engine of Growth

Running Lean Methodology Borrowed from Ash Maurya @pmheemskerk