Why Lean Startup Matters

Intro to Lean StartupLUKE SZYRMER, LEAN STARTUP CIRCLE LONDON

Luke Szyrmer

@LaunchTomorrow (it’s easier to spell)http://www.launchtomorrow.com

Why Lean Startup matters… 1. Why Go Lean2. My Favourite Myths about Lean Startup3. Show Me the Data

Why did you come here?

Why Go Lean?

Lose less years.

Why Go Lean?

Build the product that somebody is hoping to

buy …

one day.

Why Go Lean? No “law of attraction” or “best practices”

or “conventional wisdom”.Just data.

Why Go Lean?

Only work on meaningful stuff. What customers crave.

Why Go Lean?

Kill uncertainty. Verify and learn.

Why Go Lean?

It’s the toolkit of choice for ambitious, smart, independent thinkers.

Not business plan authors.

My 5 Favourite Myths about Lean Startup

Myth #1: Lean Startup = the cheapo option

Myth #2: Lean Startup = no vision required

Myth #3: Lean Startup = only prototypes

Myth #4: Lean Startup = only for bootstrappers

Myth #5: Lean Startup = the one true way

Show me the data….

Average amount invested in failed startup idea in US ~ $25,000

[Source: Shane]

Show me the data….

Startup survival rate by year of existence (US)

[Source: Bureau of the Census]

0 1 2 3 4 5 6 7 8 9 100%

10%20%30%40%50%60%70%80%90%

100%

years in existence

Most common reason for technology startup failure?

Premature scaling[source: Startup Compass]

Startups need 2-3x longer to validate their market than most founders expect

[source: Startup Compass]

Show me the data….

Lean Startup enables you to validate:◦Meaningfully◦Accurately◦Faster