LeanStartup Challenge Presentation
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The document discusses how to build and test new business ideas without programming using Lean Startup methodology. It recommends starting with customer interviews to understand needs, then creating "Wizard of Oz" prototypes to demonstrate the concept and get early feedback. Tools like basic landing pages, surveys, and analytics can be used to quickly collect initial user data, iterate on the minimum viable product, and evaluate the idea's viability within about a week. The process allows new entrepreneurs to efficiently test their ideas before investing heavily in development.
LeanStartup Challenge Presentation
- 1. Build & Test Your Idea Without Programming Lean Startup Challenge July 15, 2011 Elizabeth Yin co-founder of LaunchBit
- 2. Agenda Introduction Interviewing customers Wizard-of-Oz prototypes Q&A
- 3. In high school, we decided to become internet entrepreneurs
- 4. Shiny Orb is a social shopping site for wedding apparel
- 5. DressMob is a social shopping site for all dresses
- 6. The first step is to achieve product/market fit Maximize Product/Market Fit Scale Up Profit
- 7. Progress happens in parallel Talk with Talk with Talk with customers customers customers Collect landing page signups Wizard-of-Oz your prototype
- 8. Talk to a range of customers… not your mom! ?
- 9. Post an ad on Craigslist to find local people willing to help you http://www.craigslist.org Cindy Alvarez http://www.slideshare.net/cindyalvarez/user-testing-tactics http://www.surveymonkey.com http://docs.google.com
- 10. Start by asking questions to help you understand user behavior What are the most frustrating aspects of ABC? May I ask you why ABC is frustrating? What is the process you go through today to do ABC? If you had a magic wand to help you with ABC, what would it do? How much would you expect this magic wand to cost?
- 11. In subsequent interviews, present your solution for feedback So, you said ZYX of ABC was frustrating, what if the product Would you use it? looked like this? Do you have any friends How much would you expect whom you think could this to cost, if anything? benefit from this? We’d love to learn from your friend, mind making an intro?
- 12. Ask about behavior and bring a simple set of “paper” prototypes Image credit: Simon Collison (flickr) Image Credit: Mathieu Brault Do people “get” your idea?
- 13. Hanging around coffee shops helps Pulse refine their new ideas
- 14. Collect signups with a simple landing page
- 15. Make sure your messaging is clear and there is a call to action
- 16. Your Minimum Viable Product should have just 1 or 2 functions Image Credit: Hammacher Schlemmer Can you explain your product in 1 sentence?
- 17. Aardvark went to see the wonderful Wizard of Oz
- 18. Food on the Table started with real, live “concierge” service
- 19. The Wed Connect is our own experience at quick idea testing
- 20. Online tools made it possible to work behind the curtain Image Credit: Wizard of Oz
- 21. Get your first users: 5 – 50 customers Image Credit: Wizard of Oz
- 22. Find out what your users are doing on your website
- 23. There are many affordable tools for quantitative & qualitative analysis
- 24. In 5 days, we had numbers to evaluate The Wed Connect Bounce Rates 87% of 68 people 56% of 16 people 21 Signups Quick math: Charge wedding vendors $2 / lead * 21 leads = $42 Costs: $0.44 * 68 people = $29.92 Potential profit: $0.58 / person
- 25. Qualitative feedback taught us about the customer
- 26. We determined the viability of The Wed Connect in just 1 week 0 1 2 7 8 1 day Customer Research 1 day Analysis 1 day Build MVP 5 days Testing and Marketing Great initial numbers but a frustrating business
- 27. LaunchBit Startup Guide helps new entrepreneurs launch ideas
- 28. Build and test your idea without programming – Get going! More questions? [email protected] Blog: blog.launchbit.com @launchbit www.launchbit.com