lean startup methods: breaking out of the newsroom
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LEAN STARTUP METHODS FOR BREAKING OUT OF THE
NEWSROOM
Dominic Bortolussi The Working Group
twg.ca
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“This industry is a dying giant”
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“WE AREN’T A NEWS SOURCE, WE AREN’T PROFESSIONAL JOURNALISTS,
AND WE DON’T CARE.”
- Their ‘About’ page, Dec, 2013.
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REVENUE HAS DECREASED BY 13% ACROSS CANADA’S
NEWSPAPER INDUSTRY OVER THE LAST FIVE YEARS
(SOURCE: STATISTICS CANADA)
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AND IT’S PREDICTED TO DROP 20% BY 2017
(SOURCE: PWC GLOBAL ENTERTAINMENT AND MEDIA OUTLOOK)
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LAYOFFS AT THE NATIONAL POST, GLOBE & MAIL, TORONTO SUN, CBC…. THE LIST GOES ON
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“This industry is a dying giant”
What TV is doing to the movie industry. - U.S. News & World Report (1958)
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EVERYTHING GETS DISRUPTED
v10,000
15,000
2001 2006 2011
13,28013,32012,965
No fewer journalists in Canada since 2001 (Statistics Canada)
Despite layoffs and buyouts at newspapers, the total number of Canadians
saying they work as journalists has held steady over the past decade.
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NOBODY’S RUNNING OUT OF IDEAS But we’ll want to identify the good ones.
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HOW DO WE MAKE SURE OUR IDEAS ARE GOOD?
AVOID
Front Porch Forum You???TSN
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ABOUT US
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You’re a good researcher and connector who
knows how to ask the right questions
You’re resourceful, and don’t get discouraged
when someone tells you ‘no’
You’re a great writer and editor
JOURNALISTS = GREAT ENTREPRENEURS
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“Even as revenue-strapped news outlets continue to cut staff, we need to celebrate in 2014 a new reality: Media entrepreneurship is
at an all-time high” !
- Jan Schaffer, Executive Director of J-Lab
“LIFE’S TOO SHORT TO BUILD SOMETHING NOBODY WANTS.”
- @ASHMAURYA
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THE OLD WAY AND THE NEW WAY
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Lean Canvas: Your Startup Blueprint
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Lean Canvas: Your Startup Blueprint
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1. CUSTOMER SEGMENTS & PROBLEM
• List the 3 biggest problems your customer has
• List existing alternatives
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2. UNIQUE VALUE PROPOSITION
• Single compelling message stating your difference and value.
• Target early adopters
• Focus on finished story benefits
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3. SOLUTION
• Sketch out the top features or capabilities for each problem
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4. CHANNELS
• Channels are how your business will reach its customers
• They let people know about your product
• PR, SEO, Word of Mouth
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5. REVENUE STREAMS AND COST STRUCTURE
• How will you make money?
• How much money do you need to make?
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6. KEY METRICS
• One or two key activities that will drive people to use your product
• One or two key activities that prove your product is useful
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7. UNFAIR ADVANTAGE
• Channels are how your business will reach its customers
• They let people know about your product
• PR, blogging, email
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“IN A STARTUP NO FACTS EXIST INSIDE THE BUILDING. ONLY
OPINIONS” - @SGBLANK
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Test the hypotheses of your Lean Canvas
Learn as much as you can about your
customers and their pain
Keep going until you stop learning
CUSTOMER DISCOVERY
GET OUT OF THE
BUILDING
DO INTERVIEWS (YOU MIGHT
HAVE DONE THIS BEFORE)
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Ask about their problems. “What is the
hardest part about _____.”
Learn about their pain, and what they
currently do to resolve it.
Listen, romance, repeat, record
CUSTOMER DISCOVERY “PROBLEM” INTERVIEWS
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Tell your customers your value prop and
solution details. Present something.
How are they solving it today? Is this better?
Will they commit to trying it and a price?
CUSTOMER DISCOVERY “SOLUTION” INTERVIEWS
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THEN WHAT?
Repeat, interview, and fine tune your Solution.
Do this until you feel ready to create your ‘Minimum
Viable Product’ to launch.
Track the metrics.. looking for traction.
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Steve Blank - The friendly ‘Godfather’ of Lean
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““I am more bullish about the future of the news industry over the next 20 years than
almost anyone I know. You are going to see it grow 10X to 100X from where it is today. “
!
- Marc Andreesen
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Request for submissions open at YCombinator On The Future of Journalism: ycombinator.com/rfs1.html
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