Lean Startup Conference 2013 (Slide Summary)

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http://www.33voices.com / A collection of key notes and quote from speakers at the 2013 Lean Startup Conference. The annual conference helped entrepreneurs learn from each other. Brimming with founder stories you’ve never heard, fresh case studies and in-depth expert advice you can use the day you get home, the conference delivers advanced lessons in entrepreneurship. This year’s event had key sessions for corporate entrepreneurs, non-profit leaders, educators, government staff and growing startups—and it included a slew of ways to meet other relevant attendees. Follow @leanstartup. To learn more about the Lean Startup methodology, check out Eric Ries’s blog, Startup Lessons Learned.

Transcript of Lean Startup Conference 2013 (Slide Summary)

  • 2013 we help you discover smarter ways to think, grow, and live.
  • The 2013 Lean Startup Conference helped entrepreneurs learn from each other. Brimming with founder stories youve never heard, fresh case studies and in-depth expert advice you can use the day you get home, the conference delivered advanced lessons in entrepreneurship. 2013s event had key sessions for corporate entrepreneurs, non-profit leaders, educators, government staff and growing startupsand it included a slew of ways to meet other relevant attendees. Follow @leanstartup for updates
  • Eric Ries If you want to build a company that will matter, youll build a company thats built to learn. @EricRies
  • Eric Ries Click to watch interview @EricRies
  • Steven Hodas Conventional procurement is HOSTILE to iteration @StevenHodas
  • Brian Frezza Why do things get more bureaucratic over time? o Observations are seen by somebody three management levels away from the researcher actually doing the work. What discoveries or observations get lost? o Penicillin was discovered quite by accident. Would this happen today with that bureaucracy? o Common workarounds by asking for favors from colleagues (to circumvent b-cracy?)
  • Kimberly Bryant Learning while building -- on a fast moving train and putting the wheels on at the same time @6gems
  • Robin Chase If you have too much money, you add too many resources and add features that you have to undo start minimum minimum minimum. @RMChase
  • Matt Mullenweg You cant manage your way out of a bad team You have to create a place where people want to work We hire people on a trial at a standard $25/hr rate (regardless of the job) and do project work to test things out Theres nothing like being in the trenches with somebody Matt still reviews all incoming resumes first Sometimes its not a good fit and thats learned during the trial We hire about 40% of the people we do a trial with Time consuming, but leads to very low turnover @photomatt
  • Kevin DeWalt What works in silicon valley doesnt work everywhere o Lean Startup and CustDev - theory is the same, execution is different o In Silicon Valley, we talk openly about problems, view ourselves as agents of change @kevindewalt
  • Catherine Bracy o Open is always better than closed o Experimentation is almost always a good thing @cbracy
  • Matt Kresse @mattkresse Our MVP - looking at a head unit navigation system o Took an Android tablet wired into a car as an MVP o Didnt have the typical car features like AM/FM radio etc. o Wanted to learn more about providing mobile technology in a car o We have never directly interacted with customers o Put out a Craigslist ad to get people to come in (300 of them, wanted to complain about their experiences) o Found 30 people and interviewed them o Chose 5 people to put MVP into car and trial was live You can use it for a month - then keep using it or well pay you $100 to take it back 60% retention, 40% wanted to refer it to someone else o How to connect this to the mainstream product development process? o Build MVP - establish customer base - Toyota tells everyone to do lean startup? That didnt happen
  • Vinuth Rai Looked at innovation accounting - Will we stay on track? Are we learning? o Often went back to bad habits and built what felt good to us o Worst - we stopped learning o Used google docs to track the experiments and it worked well, its boring but it has to be done o This process has forced us to be more creative - be creative in validation other than customers riding around with the tech in their cars Cheaper ways to learn? Ideas from TLS community Goal - most learning in shortest amount of time @vinuth_rai
  • Kent Beck Once you publish a book (Extreme Programming), you cant control what people do with it (such as shimming up a table) We have limited time on this earth (3 billion seconds), I hate wasting it (more so as getting older) A complete and utter failure doesnt think they know things that are untrue - pattern matching and biases Waste comes in when people think they have THE way to program and theyre telling others how to do it. Dogma comes from success, but it doesnt maximize learning @KentBeck
  • Dan Milstein @danmil Opportunity cost - what $$ are we NOT making by giving up certain work? o People are choosing to work on stuff thats not THAT valuable and its costing your company a lot o The choices of what we work on - critical lever Working hard and good luck is not enough? o You should be really terrified of working on the wrong thing o You shouldnt worry about LOOKING like youre working hard o Only work on stuff if youre SURE its the most important thing His main points summarized in a slide: o https://twitter.com/MarkGraban/status/410147781375168512
  • Reid Hoffman If you wait until youre not embarrassed by your first product, you waited to long to release. o @ReidHoffman Be generous in building alliances... can help you for your second startup if the first one fails. You have to be presuming that THIS one will work, but also looking to the future.
  • Stephen Liguori The huge effort [on spreading the lean startup in GE] is worth it because it works. @stephenliguori
  • Michael Mahan What are the key few things that have to change to make this work? o Disagrees that skunk works approach is the right way... cannot keep intrapreneurship stuff under the rader. You need to get buy in and support o Biggest factor in early success was one business CEO who was the biggest supporter o Needed to show progress quickly Accounting - asked people to STOP doing certain reports and see if anybody noticed (started with one country as a test and then moved on to other countries) @michaelbmahan
  • Kathryn Minshew @KMin 5 zero-cost strategies for gaining customers 1) Design the first-user experience What are they thinking in the first 2 seconds, the very first impression? 2) Ask for word of mouth, but make it insanely easy Do short and concise email to friends - 2-3 lines 3 sample things you can use to share on social media, copy and paste 3) Seek out like-minded groups Small collections of people who have already self-organized around what youre working on. Might get more interesting feedback than individuals 4) Know how and when to approach bloggers & reporters 5) Become your own PR machine She started writing for blogs then progressed to write for Forbes/HBR/WSJ (higher-profile publications) You might get ignored by the bigger publications for a while, but be persistent and polite and learn what they are looking for as a publication
  • Alexis Ringwald The secret is to build empathy: 1) Listening tour spent 6 months in unemployment lines, researching WHY people couldnt get jobs. Immersed herself in this. What people were feeling... field research 2) Talk to experts People who were writing and working on this - what are the biggest issues 3) Test in the field with an early version -- no code yet, just PPT and PDF How would people interact with this type of technology? What would their interactions be? 4) Contact us is not enough. Need ongoing dialogue with users. 5) Team field trips to go immerse in the challenge Visited town with 37% (39%?) unemplyment rate Test assumptions @AlexisRingwald
  • Daina Burnes Linton Create opportunities to learn from your customers on DAY ONE @dainalinton
  • Christie George What if non-profits would tell the truth when things dont go well? Experimentation is worth the expense... no penalty for failures Create incentives for Truth rather than penalties for failures @ChristieGeorge
  • Ari Gesher Its all about the team... getting to hyper growth is all about hiring, get your hiring machine in order Hiring managers should spend 50% of their time on hiring - their guideline Design your systems for growth @alephbass
  • Steve Blank Business plans - creative writing - should be taught in English departments where they belong. Lean Startup is like IKEA - looks good in the store, but you still have to assemble the pieces when you get home. @sgblank
  • Nikhil Arora Definition of viable: capable of working successfully; feasible. @NikhilArora
  • Alejandro Velez New brooms always sweep clean - dont get caught up in your own hype, basics are really critical @bttrvent