Jurgita Sarkovaite Lean Start UP

Lean Start-Up Summary of the Eric Ries´ Book

Jurgita Sarkovaite Jurgita.sarkovaite@neo.com.pe

@JurgaSarkovaite

© Neo Consulting, 2012

Why Do Start-Ups Fail? Strong team

Effective use of

resources

Well executed business

plan

Successfully achieving Failure

The difference! Traditional model Lean

Structure

Vision

Steer

Ideas

Build

Product

Measure

Data

Learn

Accelerate

1. Start

Product

Strategy

Vision

Pivot

Optimization

2. Define: Goal of Start-Up

A startup is a human institution designed to deliver a new product or service under conditions of extreme

uncertainty.

• Find out what consumers want

• ASAP!

The Goal

3. Learn Waterfall Approach

Customer Discovery

Customer Validation

Customer Creation

Scale Company

Validated Learning Approach

4. Experiment: Consumer Interviews

From Alchemy To simple, testifying scientific experiments

H1: Value Hypothesis

Does our product/service really delivers value to customers once they are using it?

H2: Growth Hypothesis

How new customers will discover our product/service?

5. Leaps of Faith

6. Test: Minimum Viable Product "   Build MVP and try it with REAL consumers

"   It can take various forms

Find Early Adopters Include only key features

Repeatedly update and ask feedback

7. Measure: Innovative Accounting

8. Pivot (or Preserve)

Product

Strategy

Vision

Pivot

Mechanical approach

1 by 1 approach

9. Batch

Complete 1

envelope at a time

Complete 1

action at a time

9. Batch

Small batches practice

Flexibility Faster

iteration cycle

More feedback

Faster learning process

10. Grow: Engines of Growth

Viral • Word of Mouth • As a side effect of

product usage

Paid • When revenue

from every acquired customer exceeds CPA

Sticky • Through repeat purchase or use

11. Adapt

People

Culture

Process

Accountability

11. Adapt: Building Adaptive Organization

From 5 blames to 5 Why´s

Invest in training

Automatic speed

regulator

Adapting to smaller batches

Increase in speed

12. Innovate

Disruptive Innovation

Create a platform for innovation – SANDBOX

Take personal steak in the

outcome

Scarce but secure

resource

Epilogue: Waste Not!

Ideas

Build

Product

Measure

Data

Learn

Recommendations!