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Lean startup workshop: practical ways to turn your idea into a successful product -- Internet Week Europe 2011
This document summarizes a Lean Startup workshop about turning ideas into successful products through a scientific and customer-centric approach. The workshop teaches rapid prototyping and testing hypotheses with minimum viable products to gain validated learning. It provides examples from Skype's classroom initiative, where initial assumptions were tested and pivoted based on customer interviews. Different types of pivots are also outlined to respond to validated learning from experiments.
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Overview of the Lean Startup Workshop, focusing on practical methods to transform ideas into successful products.
Presentation of the workshop team members: Stuart Eccles, Charlotte Hillenbrand, Cath Richardson, Salim Virani, and Rob Fitzpatrick.
Introduction to the concept of disruptive innovation and its relevance to startup success.
Discussion on 'Making Stuff', emphasizing creating prototypes as part of the Lean Startup process.
Explains the Lean Startup movement including rapid prototyping, MVP, customer obsession, and the importance of learning fast.
Emphasizes a scientific approach in startup/product development by running experiments before scaling.
Measuring success through 'validated learning' as an indicator of progress in Lean Startups.
Discusses how to validate ideas through customer interactions, ensuring they address real problems and needs.
Identifies barriers to realizing Lean Startup value, such as engaging in conversations and being open about ideas.
Details the concept of Minimum Viable Product (MVP) emphasizing measurement and tuning for value delivery.
Focus on innovation accounting, actionable metrics, and customer interviews for proving product hypotheses.
Describes Skype's initiative with teachers, collecting user stories, and redefining their service through testing.
Explains when to pivot or persevere in product strategy with types of pivots like Zoom-In, Zoom-Out, and others.
Wraps up the workshop, reiterating the importance of testing, learning, and iterating in the Lean Startup method.
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Lean startup workshop: practical ways to turn your idea into a successful product -- Internet Week Europe 2011
- 1. LEAN STARTUP WORKSHOP Practical ways to turn your idea into a successful product
- 2. WHO ARE WE Stuart Eccles Charlotte Hillenbrand Cath Richardson Salim Virani Rob Fitzpatrick
- 3.
- 4.
- 11. THE LEAN STARTUPMOVEMENT
- 12. • Rapid prototyping to test hypotheses • Minimum Viable Product (MVP) • Nail it then scale it • Customer obsession • THE LEAN STARTUP MOVEMENT Iterative, metrics-driven & Agile • Learn fast, don’t fail fast
- 13. SCIENTIFIC APPROACH TO STARTUP/ PRODUCT DEVELOPMENT
- 14. ITS ABOUT RUNNING EXPERIMENTS
- 15. BEFORE SCALING TOUNIVERSE DENTING PROPORTIONS
- 17. HOW DO WEKNOW WE ARE MAKING PROGRESS? The unit of success we use is measure in “validated learning”
- 18. BREAKING GROUND ONAN IDEA
- 19. HOW DO YOUKNOW IF YOUR IDEA IS WORTH YOUR TIME, MONEY, EFFORT?
- 20. “We always havea vision that is clearly articulated, big enough to matter & shared by the whole team. “Our goal is always to discover which aspects of this vision are grounded in reality & adapt those aspects that are not.”
- 21. BY TESTING YOURIDEA ON YOUR POTENTIAL CUSTOMERS YOU WILL LEARN IF YOU ARE ON TO SOMETHING
- 22. DO THEY HAVE WILL THEY PAY THIS YOU FOR YOUR PROBLEM? SOLUTION?
- 23. CUSTOMER DEVELOPMENT An activeapproach to engaging with users which tests our assumptions And builds customer intimacy with potential customers
- 24. GET OUT OFTHE BUILDING
- 25. THIS IS WHATWE WILL CONCENTRATE ON TODAY Biggest barriers to realising the value of Lean Startup: Talking to people Giving over your ideas to examined in broad daylight
- 26. BUILDING AN MVP
- 27. THE MINIMUM VIABLEPRODUCT The minimal set of features that solves the problem and provides value Something that can be measured and tuned Doesn’t have to have the same form as the final product
- 28. EXPERIMENTING AND OPTIMISING
- 29. INNOVATION ACCOUNTING Measure whatis actionable, track every input and change Run split experiments to prove your hypothesis on your product
- 30.
- 31. OPTIMISING THROUGH METRICS ANDCUSTOMER INTERVIEWS WORK IN TANDEM
- 32. SKYPE IN THE CLASSROOM
- 33. SKYPE CAME TOUS WITH A COMMS BRIEF They’d noticed that teachers all over the world were using Skype in extraordinary ways. They wanted us to collect these stories and use them to promote the service & inspire other teachers.
- 34. WE RESPONDED WITHSOME NON-MARKETING IDEAS Layer a new service on top of the basic free communication service Use a customer-centric and test-driven way of working out what that service would be
- 35. OUR INITIAL ASSUMPTIONSWERE THAT IT WAS ALL ABOUT A LESSON PLANNING TOOL WITH EXAMPLES, IDEAS AND TIPS ON INTEGRATING SKYPE INTO LEARNING
- 36. We discovered immediatelythat their biggest obstacle was actually finding other teachers who also used Skype
- 37. They also toldus that teachers don’t have time to read lots of lesson plans - video clips would be much more helpful
- 38. BRAINSTORM SKETCHING USE CASES PROTOTYPES USER JOURNEY SKETCHES INTERVIEWS HIGH FIDELITY DESIGNS SERVICE MODELS
- 39.
- 41.
- 43. AN INTUITIVE LEAP LOCAL MAXIMA
- 44. “Our goal isalways to discover which aspects of this vision are grounded in reality & adapt those aspects that are not.”
- 45. PIVOT: ONE FOOTSTAYS WHILE THE OTHER MOVES In course correction to a new strategy to test a new fundamental hypothesis A human decision assisted by metrics and customer intimacy Should be hard and fast with a new strategy already defined
- 46.
- 47. ZOOM-IN PIVOT What wasconsidered a single feature becomes the entire product.
- 48. ZOOM-OUT PIVOT What wasconsidered the entire product becomes a feature(s) of the new product.
- 49. CUSTOMER SEGMENT PIVOT Theproduct is valuable but not to its intended customers so a new customer segment is defined. CUSTOMER ZOOM-IN CUSTOMER ZOOM-OUT
- 50. CUSTOMER NEED PIVOT Theproblem solved is not very important, or money isn’t available to buy. This requires repositioning, or a new product, to find a problem worth solving.
- 51. PLATFORM PIVOT From anapplication/solution to a platform or vice versa
- 52. BUSINESS ARCHITECTURE PIVOT Fromlow margin/high volume to high margin/low volume or vice versa
- 53. ENGINE OF GROWTHPIVOT Sticky Viral Paid
- 55.
- 56. LEAN STARTUP ISN’TTHAT HARD Find a culture of testing, experimenting and iterating. Make Test Learn Build an MVP
- 57. http://leanca.mp http://blog.thestartuptoolkit.com http://madebymany.com/signals/ the-lean-startup-movement @robfitz @crashtherocks @saintsal @ohrworm @stueccles
- 58. LEAN STARTUP MEETINGAT UCL TONIGHT!