LEAN START UP WHAT IS IT ALL ABOUT? Chris Locke – Founder

2 LEAN START UP:

3

4 MARSHMALLOW CHALLENGE

5 START UPS ARE RISKY: 90% WILL FAIL

6 WHY? “Remember, if we're building something that nobody wants, it doesn't matter if we're doing it on time and on budget” Eric Ries

LEAN START UP - METHODOLOGY

WHAT IS A START UP?

9 Understand what activities drive value and which waste time, energy and money LEAN START UP - INTRODUCTION

10 WHAT’S YOUR BHAG?

LEAN START UP - IDEAS

WHO IS YOUR CUSTOMER & WHAT NEED ARE YOU MEETING?

VISUALISE YOUR CUSTOMER: AGE SALARY

PUT IT INTO ACTION:

15 EARLY CUSTOMER CONVERSATIONS:

LEAN START UP - BUILD

17 AN MVP IS AN EXPERIMENT: We build the minimum product that may create value and allow us to learn.

MVP

From our business model, we identify our untested assumptions (i.e. leaps of faith). BUT WE DON’T TEST EVERYTHING We select the riskiest assumptions, and test those first.

21 LEAN START UP - MVP

LEAN START UP - MEASURE

23 LEAN START UP - MEASURE

24 LEAN START UP – PIRATE METRICS

25 LEAN START UP – BEWARE OF VANITY

LEAN START UP - LEARN

27 LEAN START UP - LEARN

28 LEAN START UP - ITERATE

29 LEAN START UP – CASE STUDY

30 DROPBOX RESULTS: Sept 2008 = 100,000 registered users Jan 2010 = 4m registered users Driven by word of mouth and viral 35% of sign ups came from referrals 20% from shared folders Sustained 15-20% month on month growth since

LEAN TOOLKIT: LEAN START UP TOOLKIT

32 BUSINESS PLANS DON’T WORK:

33 WHY?

34 LEAN START UP TOOLS

CUSTOMER SEGMENTS

36 CUSTOMER SEGMENT: The idea of being all things to all people is a thing of the past. MICHAEL DELL FOUNDER, DELL

37 CUSTOMER SEGMENT: how do you define them? how do they spend their time? what are their motivators? what are their challenges and concerns? how do they consume information? who influences their decisions? how do they communicate?

CUSTOMER SEGMENTS

39 VALUE PROPOSITION: The Value Proposition articulates the promise of the overall experience and resulting benefits that a specific customer audience can realize from the utilization or consumption of a product, service or solution.

40 VALUE PROPOSITION: problem needvaluepay

41 VALUE PROPOSITION: what is the Need that you are fulfilling for this audience? what is the core problem that you are solving for? how is this causing them pain? to what degree?

42 VALUE PROPOSITION: Qualifying the need: real and valid pain point? how evident? lots of people have? a discrete group? can you reach? willing or likely to spend money? likely to remain or grow? could someone else easily solve? easy to articulate?

CUSTOMER SEGMENTS

44 CHANNELS:

CUSTOMER SEGMENTS

46 CUSTOMER RELATIONSHIPS:

47 REVENUE STREAMS

CUSTOMER SEGMENTS

49 KEY ACTIVITIES

50 KEY RESOURCES

51 KEY PARTNERSHIPS

52 COST STRUCTURE:

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BUSINESS MODEL CANVAS - ACTIVITY

CUSTOMER SEGMENTS

56