2013 intersect principles keynote

Lean Startup Product TeamsPrinciples of Success

Janice FraserCEO, LUXr

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TWEET!

#LeanStartupcc @LUXRCO

@clevergirl

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http://saptstrength.com/

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sedonaweddingcakes.com

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freebestpictures.blogspot.com

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thekitchn.com

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brides.com

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brides.com

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brides.comsedonaweddingcakes.com

brides.com

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LEAN Star tup

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Build measure

learn!

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Lean Startup is NOT

Cheap Startup

Fast Startup

Shortcut Startup

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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 entrepreneur’s assumptions, and using customer feedback to evolve the product, thereby reducing waste.

Lean Startup is...

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1. List your assumptions.2. Understand your customers.3. Experiment efficiently.4. Adjust direction based on evidence.

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Lean Startup advocates experiments & learning

Learn

Measure

Build

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Go backward to go forward.

Learn

Measure

Build

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Think of it like this...

TDD Test-driven product management

A Lean Startup is a test-driven COMPANY

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Victory is measured in

learning.

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Plot the difference

THINK

release

MAKErelease

MAKErelease

MAKE

RISK

= U

NVAL

IDAT

ED EF

FORT

TIME

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Lots of little wigglesRI

SK =

UNV

ALID

ATED

EFFO

RT

TIME

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RISK

= U

NVAL

IDAT

ED EF

FORT

TIME

Each wiggle is a learning cycle.

MAKE

releaseBUILD

LEARN

BUILD

MEASURE

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This will change how you think

about your role, your work, your

team, your process.

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1. Team first, then product.

2. PM + Dev + UX = 1 Product Team

3. Work out loud.

4. Make processes repeatable, then routine.

5. Don’t get stuck in your happy place.

6. Invest in clarifying the problem.

7. Drive toward goals and measure outcomes.

8. Ideas are cheap. Have a lot of them.

9. Decide quickly. Hold decisions lightly.

10. Don’t carry the past.

Principles for Lean Startup Teams

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Team first, then product

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• Not just who’s on the team, but how they work together (no ninjas, gurus, rockstars!)

• Invest time in developing productive relationships

• Continuous process improvement

Team first, then product

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Chris Min10 years as CEO, Wharton MBA,

Silicon Valley trained 30

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Burning social capital

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• Most of your decisions as a team, as a company, will be wrong.

• Flexible teams can solve almost any problem.

• Respectful, trusting team wastes little time on pettiness, gossip, arguments

Why does this matter to Lean Startups?

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Don’t carry the past.

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Tom ConradGrew Pandora from 10 people to IPO

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• Whole company (up to 6 ppl), every 60 or 90 days.

• Ahead of the meeting, everyone submits requests to the CEO/CTO, with the prompt “We would be stupid not to…”

• Submit each idea as a slide, with a headline and a few bullet points to explain.

• 70-100 items. CEO/CTO de-duplicates and assigns a $-value that represents the amount of effort

• “Dollars” are created in an amount that represents current capaticy, divided equally among the 6 participants.

• Day-long working session to “shop” for the most important items.

• Chuck the unfunded. Group the fully funded, nearly funded, radically under-funded.

• Discuss and bargain until you have a set of fully funded items.

Pandora-Style Planning

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Friday, before I left for this conference.

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Lean Startup teams believe in...(from Lean Manufacturing and Extreme Programming)

SimplicityCourageTrust ProcessContinuous Improvement

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“The courage to speak truths, pleasant or unpleasant, fosters communication and trust.

“The courage to discard failing solutions and seek new ones encourages simplicity.

“The courage to seek real, concrete answers creates feedback.”

The Influence of Agile

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If you get the team right, you’ll find your way to the right product.

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happiness@luxr.co

#LeanStartup

cc @LUXRCO, @clevergirl

Thank you!

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