2015 introduction to lean startup
TRANSCRIPT
(c) copyright 2014 Janice Fraser
Live tweet this workshop.
@clevergirl #leanstartup
(c) copyright 2014 Janice Fraser
3 Pivotal Points In Time…and a fourth
How do you approach a typical project?
Analysis
Feedback
Revise
Budget
Approval
Execute
Measure
Plan
Stakeholders
(c) copyright 2014 Janice Fraser
JUNE & PETE’S Wedding Cake
A STORY
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JunePete
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April
May
June
July
August
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sedonaweddingcakes.com
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freebestpictures.blogspot.com
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thekitchn.com
(c) copyright 2014 Janice Fraser
Zoe Clark, The Cake Parlour
(c) copyright 2014 Janice Fraser
sedonaweddingcakes.com
Zoe Clark, The Cake Parlour
(c) copyright 2014 Janice Fraser
Lean Startup
Lean Startup is…
An approach for building [companies] that are creating new products and services in situations of extreme uncertainty.
The approach advocates creating small products that test the creator’s assumptions, and using customer feedback to evolve the product, thereby reducing waste.
—Eric Ries, The Lean Startup
(c) copyright 2014 Janice Fraser
1. List your assumptions
2. Understand your customers
3. Get real product into the world
4. Adjust direction based on evidence
Everyone tends to get stuck
CHECK
MAKE
THINK
(c) copyright 2014, Janice Fraser
Plot the difference
THINK
MAKE
MAKE
MAKErelease
release
release
TIME
RIS
K =
UN
VALI
DAT
ED
EFF
OR
T
(c) copyright 2014, Janice Fraser
Lots of little wiggles
TIME
RIS
K =
UN
VALI
DAT
ED
EFF
OR
T
(c) copyright 2014, Janice Fraser
Each wiggle is a learning cycle
TIME
RIS
K =
UN
VALI
DAT
ED E
FFO
RT
MEASURE
BUILD
BUILD
LEARN
(c) copyright 2014, Janice Fraser
The Product Value Stack
Users
1.2.3.
Mary can...
Needs
Uses
Features
Deliver
LEARN
This Week
(c) copyright 2014, Janice Fraser
Sequencing Your Learning (warning: includes jargon*)
(c) copyright 2014, Janice Fraser
Person
Problem
Solution
How much does it cost?
Do they buy?
Can you find lots of customers?
Do your customers stay?
Problem/Solution Fit
Product/Market Fit
Acquire Users &
Grow Team* *
Loading up your question Backlog
(c) copyright 2014, Janice Fraser
• Do people have this problem?
• Do people want to solve this problem?
• Does my idea solve the problem?
• Do people want this solution?
• Will people pay for this solution?
• How much will people pay for this solution?
• Etc
• Etc
• Etc
Jargon: The MVP (MLP, MDP…M_P)
(c) copyright 2014, Janice Fraser
Don’t get hung up on: - Minimum - Viable - Product
What is an MVP? The smallest thing you can do/make to learn what you need to learn. A tool for answering a specific question.
What is not a MVP? A prototype. The final product. Great UX.
How do you pick the right MVP? Base your decisions on what will contribute to the quality and fidelity of learning, and the speed with which you will accomplish it. Aim for “right-sized” learning.
sketch by @katerutter
Thank you!
@clevergirl