1. Entrepreneurship: Lean Startup and Customer Development Lana Bachman BUS 527 Special Topics in Entrepreneurial Management (Creativity and Innovation in Business and IT) May 22, 2014

2. IMVU Case Study: Eric Ries Lean Startup approach Snaptaxt story: Lean Startup from a big corporation Intuit

4. h IMVU: Lean Startup 1 million VC Team centered Beta Culture- Transparency There: Traditional 40 million VC Hierarchical Baked Culture- “information- hiding” Eric Ries & Will Harvey

5. Design Thinking: Creativity & Innovation- 5 © Minder Chen, 2012-2014 What Is Pivot? Pivot: A change to business model component based on customer feedbacks. A pivot is not a failure. Pivot is a structured course correction designed to test a new fundamental hypothesis about the product, strategy, engine of growth, etc. –Eric Ries, The Lean Startup, 2013. Pivots are vision driven.

6. The Customer Development Process 1.Try many times before you get it right. 2.It is OK to fail so plan to learn from it. 3.Only move to the next stage when you learn enough and reach the “escape velocity” http://www.ctinnovations.com/images/resources/Startup%20Owners%20Manual%20-%20BlankDorf.pdf More startups fail from a lack of customers than from a failure of product development

7. The Lean Start-Up Steve Blank, "Why The Lean Start-up Change Everything," HBR, May 2013. (link)link

8. Design Thinking: Creativity & Innovation- 8 © Minder Chen, 2012-2014

9. IMVU Today

10. Snaptaxt Story: Lean Startup from a big corporation Intuit- by Charin Storm http://prezi.com/7hpok6sousw4/?ut m_campaign=share&utm_medium=c opy&rc=ex0share

11. Sources: Minder Chen, Ph.D. Professor of MIS, Martin V. Smith School of Business and Economics California State University Channel Islands. Minder.chen@csuci.edu, Jan. 15, 2014Minder.chen@csuci.edu IMVU Case Study (Eric Ries was the CTO and it was where he learned the Lean Startup approach http://prezi.com/7hpok6sousw4/?utm_campaign=share&utm_medium=copy &rc=ex0share http://prezi.com/7hpok6sousw4/?utm_campaign=share&utm_medium=copy &rc=ex0share http://venturebeat.com/2013/05/13/lockwood-publishing-will-debut-3d- avatars-in-its-avakin-poker-mobile-game-exclusive/ http://venturebeat.com/2013/05/13/lockwood-publishing-will-debut-3d- avatars-in-its-avakin-poker-mobile-game-exclusive/