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Validating business ideas quickly with Lean
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Tadas Labudis
November 21, 2014
Business
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Validating business ideas quickly with Lean
Tadas Labudis
November 21, 2014
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Transcript
Tadas Labudis Product Manager @Labudis Validating business ideas quickly with
Lean
About me • Did a business degree • Taught myself
coding • Co-organised 3 hackathons and participated at 2 • Founded an e-commerce store • Co-founded a consumer tech startup • Now working at Kotikan
Lean startup approach
"Lean Startup” is a process for validating and invalidating your
assumptions as quickly as possible to discover and deliver what people actually want.
Customer discovery process
Customer Problem Solution Basis of a business idea ? ?
?
Customer Problem Solution Startups start with… ?
Customer Problem Solution Startups often do this
Customer Problem Solution Startups often do this wtf?
Customer Problem Solution But should do this
Customer Problem Solution But should do this gimme da cookie!
Build-Measure-Learn
Build Measure Learn ideas product data vision
Build Measure Learn ideas product data assumptions speed! vision
The goal • Maximise value • Minimise waste … or
creating more value for customers with fewer resources
How to validate assumptions?
MVP
What’s an MVP? Minimum Viable Product The Minimum Viable Product
(MVP) is that version of a new product which allows a team to collect the maximum amount of validated learning about customers with the least effort. - Eric Ries
MVP ≠ Product Minimum Viable Product Experiment
Examples of MVEs • Customer Interviews • Landing Page Test
• Prototypes • Concierge/Wizard of Oz • A/B Tests
• E-mail conversations • Phone interviews • Face-to-face interviews Customer
interviews
Landing page test
Landing page test
Wizard of Oz
Wizard of Oz
Wizard of Oz • 75,000 signups overnight
Wizard of Oz • 75,000 signups overnight • People want
it
Wizard of Oz • 75,000 signups overnight • People want
it • Why? “it works like magic”
Wizard of Oz • 75,000 signups overnight • People want
it • Why? “it works like magic” • Persevere with the idea
A/B tests
How to structure experiments?
Business Model Canvas
Business Model Canvas
Business Model Canvas
Validation Board
Validation Board
Validation Board
Validation Board
Validation Board
Validation Board
Validation Board
Links • Business Model Canvas goo.gl/ooXTGY • Validation Board goo.gl/CzUDyJ
• Book: Lean Startup by Eric Ries theleanstartup.com/book
Kotikan is hiring • Mobile Apps Developers • Software Testers
• Software Analysts • Software Engineers • Infrastructure/DevOps Engineers • Product Managers • Project Managers • Head of Design Learn more & apply: kotikan.com/aboutus/careers
Good luck! Follow me @Labudis
Good luck! Follow me @Labudis deliver the cookies!