lean start up primer
TRANSCRIPT
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Lean start-up methodology primer
and MSc development workshop
AndyHirst
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This session…
• Discover some new approaches to business start-up• Create some basic course concepts• Apply some techniques• And of course ……
Have fun!
Help yourself to tea, coffee and biscuits
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The Innovator’s Dilemma“Jobs to be done” – Clayton Christensen
• Functional jobs - Task• Emotional jobs - Feelings• Social jobs - Relationships• Supporting jobs - Context
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Warm-up Task: In groups of 2/3Identifythetop3“jobstobedone”forthenewMScinEntrepreneurship
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What do we know about the start-up process?
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Failure rates have been stubbornly high - 75%!• A business fails because it runs out of customers
Geoffrey Moore – Crossing the Chasm
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Focus on product development not customer development
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Big design doesn’t workIridium Motorola (1999)
$5 Billion flop
66 satellites – global coverage / 500k users
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Business plans contain NO FACTS“..plans rarely survive first contact with the enemy” (Helmuth von Moltke)
“Everybody has a plan until they get punched in the mouth” (Mike Tyson)
Just a set of assumption and predictions
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Start-ups are not able to make realistic forecasts of future growth
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SO…..
Could hypothesis driven business development be the solution?
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Steve Blank – “The path to the epiphany”
A mixture of customer development and iterative development techniques
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Reduce Complexity and Risk!
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Lean start up is all about iteration
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Espresso coffee
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What changed?
TASK: Discuss in groups of 2
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The business model – definition
• Thebusinessmodelencouragestheentrepreneurto• conceptualizetheventureasaninterrelatedsetofstrategicgoals• seekcomplementaryrelationshipsamongelements,throughuniquecombinations;• developactivitysetsaroundalogicalframework• ensureconsistencybetweenelementsofstrategy,architecture,economics,growth,andexitintentions.
Need a common language
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100
80
60
40
20
On the RiseA Google Trend analysis shows that the Business Model Canvas is trending upwards together with the Lean Startup.
2008 2009 2010 2011 2013 2014
Blue Ocean Strategy
Lean Startup
Disruptive Innovation
Business Model CanvasThe number 100 represents peak search interest
2524
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The Business Model Canvas
designed by: Strategyzer AGThe makers of Business Model Generation and Strategyzer
This work is licensed under the Creative Commons Attribution-Share Alike 3.0 Unported License. To view a copy of this license, visit:http://creativecommons.org/licenses/by-sa/3.0/ or send a letter to Creative Commons, 171 Second Street, Suite 300, San Francisco, California, 94105, USA.
strategyzer.com
Revenue Streams
Customer SegmentsValue PropositionsKey ActivitiesKey Partners
Cost Structure
Customer Relationships
Designed by: Date: Version:Designed for:
ChannelsKey Resources
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TASK: Rapid Prototype
• Whoareourpotentialcustomers?
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Customer/Users Architypes
• Aspects to consider • Demographics• Motivations• Role models /Influencers• Ambitions • Family wealth• ….
• Day in a life• User stories
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Emergent strategyLean start-up
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Similar methods that overlap with lean start-up philosophy• Design thinking• Rapid prototyping• Agile project management• Emergent strategy
• Iteration!
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Can we change the way we business model/ design courses?
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Visual Tools
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Product-MarketFit
Gain Creators
Pain Relievers Pains
Gains
Products& Services
CustomerJob(s)
Value Proposition Customer Segment
copyright: Strategyzer AGThe makers of Business Model Generation and Strategyzer
The Value Proposition Canvas
strategyzer.com
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CustomerSegment
The Value Proposition Canvas
Customer (Segment) Profile:
copyright: Strategyzer AGThe makers of Business Model Generation and Strategyzer strategyzer.com
Pains
Gains
CustomerJob(s)
10:00
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ValueProposition
copyright: Strategyzer AGThe makers of Business Model Generation and Strategyzer strategyzer.com
The Value Proposition Canvas
Gain Creators
Pain Relievers
Products& Services
Value (Proposition) Map:
10:00
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Swap canvasAdd,Develop,Organise
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The Start in Start-up
MVPA sellable product or service that has enough features to satisfy one customer segment
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10:00TASK: In groups of 3, create an MSc in a box
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Pitch your ideaIn30secondsexplainyourMScthinkaboutyourcustomersegment,productfeatures,pains,gainsandjobstobedone.
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2nd Iteration
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Lean start up is all about iteration
Make a change based on your feedback
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3rd Iteration
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Lean start up is all about iteration
Make a change based on your feedback
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Look at the existing market
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Blue Ocean Strategy – Kim and Mauborgne (2005)
Createproductsinuncontestedmarketsatlowcost
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What’s different about Nintendo’s business model?
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