Class 9 / 12

April 7, 2014

Jen van der Meer | jd1159 at nyu dot edu

Josh Knowles | chasing at spaceship dot com

LEAN LAUNCHPAD AT NYU ITP

Rockets Sketches borrowed from Harry Allen Design

6:00 – 6:20:

Prep for MVP and Lessons Learned

6:20 – 6:40

Drip.fm

6:40 – 6”50

Break

6:50 – 7:50

Teams present

8:00

Corie Hardee Little Borrowed Dress

TODAY:

.

WE ARE HERE

1/27Business ModelsCustomer DevelopmentUX Tools Intro

2/3Value PropositionUX Tools, Frameworks

2/10Customer SegmentsResearch Tools

2/17President’s Day

2/24Revenue StreamsDistributionProduct Definition

3/3Customer RelationshipsPartners,Product Development

3/10 Resources, Activities, Costs,Product Development

3/17Spring Break

3/24Customer DevelopmentProduct Development

3/31Customer DevelopmentProduct Development

4/7Customer DevelopmentProduct Development

4/14Customer DevelopmentProduct Development

4/21Product MVP

4/28Lessons Learned

ALL OF US ARE PIVOTING

WHAT TO DO WITH INVALIDATED SEGMENTS, PROTOTYPES, OR DISPROVED HYPOTHES?

Keep them in a “one day” file

You never know when cultural norms shift

Technology gets ever more present

Components dwindle down to zero cost

What will be possible, but isn’t possible now

6

WHAT CAME BEFORE STEVE AND ERIC

LESSONS LEARNED DAY 4/28

Not a demo day. – No correlation between great PowerPoint or videos and a two minute demo to building a successful business model.

Instead: we’ll have Learning Demos.

_Major insights

_Pivots from original business model assumptions

_Metrics that mattered

“Lessons Learned” day allows us to directly assess the ability of the team to learn, pivot and move forward.

What your future business partners, investors, and employees will seek out as you grow your companies.

LESSONS LEARNED DAY: EXPECTATIONS

2 Minute Video

Why Video? Because Lean LaunchPad is an experiment beyond just ITP, it’s a commitment to learn together, as an ecosystem across NYU, across all of the Lean movement.

8 Minutes: presentation

- Use the updated business model canvas to show your journey

- Use diagrams of what was learned: customers, channels, etc.

- What have you validated, what are you still trying to validate

- Show what you learned in Customer Discovery

- Show what you learned as you moved forward to Customer Validation

- If you send us a week before, we can give you feedback

LESSONS LEARNED VIDEO: SUGGESTED OUTLINE

Your names

Team’s name

Show us where you “created” this idea, where you’ve been working on it

How many customers did you talk to?

Did you find this easy? Hard at first?

When you started the class, what was the most important thing you thought you would

have to do to successfully launch a scalable startup?

How do you feel about that now?

Thinking back across the class, who was the most interesting person you met and

where did you meet them?

What happened??

Why, specifically, was this your most interesting customer conversation?

And how, specifically, did your business model change as a result?

Now that the class is over, what was the most surprising thing you learned in the class?

PRESENTATION OUTLINE: CUSTOMER DISCOVERY

Customer Discovery

Customer Creation

Customer Validation

CompanyBuilding

What experiments did you run to test each hypothesis?Did you find a market to fit your vision, with a large enough addressable market to fit your aspirations?

Iteration Execution

PRESENTATION OUTLINE: CUSTOMER VALIDATION

Customer Discovery

Customer Creation

Customer Validation

CompanyBuilding

Verify core features Verify market’s existence Locate customers Tests the product’s perceived value

and demand Idenfity the economic buyer Establish pricing and channel

strategies Check out proposed sales cycle

and process

ESCAPE VELOCITY

Iteration Execution

12

WHAT CAME BEFORE STEVE AND ERIC

APPENDIX

STUDENT TEAMSTeam Name School

Cognitive Toy Box Lindsey Jones Stern

Tammy Kwan Stern

Hsiang Huang Stern

Alternative Monuments Rodrigo Derteano ITP

Maximo Sica ITP

Ajejandro Puentes ITP

Alon Chitayat ITP

NYBL Sam Slover ITP

Shilpan Bhagat ITP

Max Ma ITP

DiscoverEd Sergio Majluf ITP

Su Hyun Kim ITP

Christina Yugai Stern

Yuliya Parshina Kottas ITP

MENTORS + TEAMS

Tom Igoe @tigoeITP, Arduino, Making Things Talk, NYU ITP Pitchfest

Alternative Monuments

Julie Berkun Fajgenbaum @julieFStern Adjunct Professor, Former VP Amex Open, now startup co-founder

NYBL

Michael Levitz @michael_levitzITP grad, R/GA, Lean

DiscoverED

Sarah Krasley @sarahkrasleyAutodesk, Sustainability, Berkeley

For all

Chris Milne @greedo1000IDEO, Toy Lab, Stanford, LEGO

Cognitive Toy Box