bit.ly/Leanmachine/Wednesday, 18 July, 12

Hotmailwas a database company

Flickrwas going to be an MMO

Twitterwas a podcasting company

Autodeskmade desktop automation

Paypalfirst built for Palmpilots

Freshbookswas invoicing for a web design firm

Wikipediawas to be written by experts only

Mitelwas a lawnmower company

Most startups don’t know what they’ll be when they grow up.

Wednesday, 18 July, 12

Getting features right matters less.

Knowing what’s not working, quickly, matters more.

Wednesday, 18 July, 12

Building product matters less.

Finding known needs matters more.

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“We should” matters less.

“What if” matters more.

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Your roadmap matters less.

Parallel experiments matter more.

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Business plans matter less.

Business models matter more.

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http://www.flickr.com/photos/itsgreg/446061432/

Analytics is the measurement of movement towards your business goals.

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In a startup, the purpose of analytics is to iterate to a product/market fit before the money runs out.

If you remember only one thing...

Wednesday, 18 July, 12

www.solveforinteresting.com

THE ONE METRIC THAT MATTERS

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TransactionCollaborationMedia

SaaSApplicationGame

OMTM must reflect your business model

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Find a need

Find a solution

Find a product

Find a business model

Find an exit

OMTM must fit your your lifecycle stage

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InternalInvestorsCustomers

PartnersAcquirersMedia

OMTM must be tailored to your intended audience

Wednesday, 18 July, 12

What makes a great OMTM?

Ratios and rates, not numbers

Comparative, over time, against a baseline

Your behavior will change when it does

Plugging it into a spreadsheet makes it more accurate

Wednesday, 18 July, 12