$30 off During Our Annual Pro Sale. View Details »

Lean Startup Masterclass (3 day version, Digital HUB Aachen, September 2017)

Vidar Andersen
September 20, 2017

Lean Startup Masterclass (3 day version, Digital HUB Aachen, September 2017)

These were the slides for the http://plusandersen.com "Lean Startup Masterclass", the three day educational workshops held for incubated early-stage startups at Digital HUB Aachen, Germany. Bookings: [email protected]

Vidar Andersen

September 20, 2017
Tweet

More Decks by Vidar Andersen

Other Decks in Education

Transcript

  1. LEAN
    STARTUP
    MASTERCLASS
    DAY 1 OF 3
    DIGIHUB AACHEN
    SEPTEMBER 11. 2017

    View Slide

  2. DAY 1

    View Slide

  3. MORE
    VIDARANDERSEN.COM
    VIDAR ANDERSEN
    • STARTUP FOUNDER
    • EDUCATOR
    • INNOVATION ADVISOR
    FOUNDING PRINCIPAL
    +ANDERSEN & ASSOCIATES

    View Slide

  4. SOME OF THE
    STUFF I HAVE
    FOUNDED
    FROM COMPANIES TO STARTUPS TO CORP TECHNOLOGY BEHIND NDA

    View Slide

  5. PLUSANDERSEN.COM
    getGauss.com

    View Slide

  6. SOME OF THE PEOPLE
    I HAVE PITCHED
    IN PERSON
    AROUND THE WORLD

    View Slide

  7. View Slide

  8. SOME OF THE PLACES
    I HAVE BEEN
    FEATURED
    AROUND THE WORLD

    View Slide

  9. View Slide

  10. SOME OF THE
    CUSTOMERS
    I’VE WORKED WITH
    AROUND THE WORLD

    View Slide

  11. View Slide

  12. SOME OF THE
    INSTITUTIONS
    I’VE TAUGHT AT
    AROUND THE WORLD

    View Slide

  13. View Slide

  14. CERTIFIED
    LLP EDUCATOR @ STANFORD

    View Slide

  15. LLP LECTURE
    QIA UNIVERSITY, IRAN

    View Slide

  16. OVERVIEW
    MASTERCLASS
    THE
    LEAN
    STARTUP
    =
    BUSINESS MODEL GENERATION
    CUSTOMER DEVELOPMENT
    AGILE ENGINEERING & MVP

    View Slide

  17. OVERVIEW
    MASTERCLASS
    =
    BUSINESS MODEL GENERATION
    CUSTOMER DEVELOPMENT
    DAY 1

    View Slide

  18. OVERVIEW
    MASTERCLASS
    CUSTOMER DEVELOPMENT
    AGILE ENGINEERING & MVP
    DAY 2+3
    =

    View Slide

  19. READ
    THE
    BOOK

    View Slide

  20. READ
    THE
    BOOK

    View Slide

  21. https://classroom.udacity.com/courses/ep245/
    TAKE
    THE FULL
    COURSE

    View Slide

  22. WHAT WE
    KNOW NOW
    THE STORY SO FAR…

    View Slide

  23. View Slide

  24. View Slide

  25. View Slide

  26. STARTUPS ARE
    NOT SMALLER
    VERSIONS OF
    LARGER
    COMPANIES

    View Slide

  27. A COMPANY IS A
    PERMANENT
    ORGANISATION DESIGNED
    TO EXECUTE A
    REPEATABLE AND SCALABLE
    BUSINESS MODEL IN A
    PREDICTABLE AND STABLE
    ENVIRONMENT

    View Slide

  28. A STARTUP IS 

    A TEMPORARY
    ORGANISATION
    DESIGNED TO SEARCH FOR
    A REPEATABLE AND
    SCALABLE BUSINESS MODEL
    IN AN ENVIRONMENT OF
    EXTREME UNCERTAINTY

    View Slide

  29. View Slide

  30. View Slide

  31. View Slide

  32. View Slide

  33. View Slide

  34. View Slide

  35. View Slide

  36. A STARTUP IS 

    A TEMPORARY
    ORGANISATION
    DESIGNED TO SEARCH FOR
    A REPEATABLE AND
    SCALABLE BUSINESS MODEL
    IN AN ENVIRONMENT OF
    EXTREME UNCERTAINTY

    View Slide

  37. View Slide

  38. View Slide

  39. View Slide

  40. View Slide

  41. View Slide

  42. View Slide

  43. View Slide

  44. View Slide

  45. View Slide

  46. View Slide

  47. View Slide

  48. View Slide

  49. View Slide

  50. View Slide

  51. View Slide

  52. View Slide

  53. View Slide

  54. View Slide

  55. COMPANY LIFE-CYCLE
    SCALABLE

    STARTUP
    TRANSITION
    LARGE
    COMPANY
    SEARCH BUILD GROW
    • BUSINESS MODEL FOUND
    • PRODUCT-MARKET FIT
    • REPEATABLE SALES MODEL
    • MANAGERS HIRED
    • CASH-FLOW BREAK-EVEN
    • PROFITABLE
    • RAPID SCALE
    • NEW SENIOR MANAGEMENT
    • AROUND 150 PEOPLE

    View Slide

  56. SEARCH
    BUSINESS MODEL
    GENERATION
    CUSTOMER DEVELOPMENT
    AGILE ENGINEERING

    View Slide

  57. EXECUTION
    LARGE
    COMPANY

    View Slide

  58. WHAT WE KNOW NOW
    • STARTUPS ARE NOT SMALLER VERSIONS OF LARGER COMPANIES
    • STARTUP IS TEMPORARY ORG, IN SEARCH OF SCALABLE REPEATABLE
    BUSINESS MODEL
    • NO BUSINESS PLAN EVER SURVIVES FIRST CONTACT WITH CUSTOMERS
    • BUSINESS MODEL CANVAS INSTEAD OF BUSINESS PLANS
    • CUSTOMER DISCOVERY INSTEAD OF EXECUTION
    • AGILE ENGINEERING PROCESSES INSTEAD OF WATERFALL
    • MINIMUM VIABLE PRODUCT INSTEAD OF BETAS
    • BUILD - MEASURE - LEARN: ITERATION AND SPEED OF THE ESSENCE

    View Slide

  59. WHAT IS A
    BUSINESS
    MODEL?
    BUSINESS MODEL
    GENERATION
    CUSTOMER
    DEVELOPMENT
    AGILE ENGINEERING

    View Slide

  60. READ
    THE
    BOOK

    View Slide

  61. www.udacity.com/overview/Course/ep245

    View Slide

  62. www.udacity.com/overview/Course/ep245

    View Slide

  63. View Slide

  64. THE
    MILKSHAKE

    View Slide

  65. View Slide

  66. View Slide

  67. View Slide

  68. View Slide

  69. View Slide

  70. View Slide

  71. View Slide

  72. View Slide

  73. View Slide

  74. View Slide

  75. View Slide

  76. View Slide

  77. View Slide

  78. View Slide

  79. View Slide

  80. www.udacity.com/overview/Course/ep245

    View Slide

  81. View Slide

  82. View Slide

  83. View Slide

  84. View Slide

  85. View Slide

  86. View Slide

  87. View Slide

  88. View Slide

  89. View Slide

  90. View Slide

  91. View Slide

  92. View Slide

  93. View Slide

  94. View Slide

  95. View Slide

  96. https://www.youtube.com/watch?v=aN36EcTE54Q
    VALUE
    PROPOSITION CANVAS

    View Slide

  97. View Slide

  98. View Slide

  99. View Slide

  100. View Slide

  101. View Slide

  102. View Slide

  103. View Slide

  104. View Slide

  105. View Slide

  106. View Slide

  107. WHAT IS
    CUSTOMER 

    DEVELOPMENT?
    THE PROCESS TO DISCOVER & VALIDATE PROBLEM + SOLUTION
    BUSINESS MODEL
    GENERATION
    CUSTOMER
    DEVELOPMENT
    AGILE ENGINEERING

    View Slide

  108. View Slide

  109. View Slide

  110. TIME
    SEARCH PART OFTEN TAKES 1-2 YEARS
    ⇦ PRE/POST ⇨
    PRODUCT-MARKET FIT
    Test 1:
    Is this a
    problem
    Test 2:
    Is this the
    solution
    Test 3:
    Can we sell
    this solution
    Test 4:
    Can we repeat
    selling the solution
    Test 5:
    Can we scale
    our business

    View Slide

  111. PHASE 1 PHASE 2 PHASE 3
    Making 

    something
    people want
    Marketing 

    something
    people want
    Scaling
    your
    business
    1 2 3
    Discovering 

    something
    people want

    View Slide

  112. PROBLEM
    SOLUTION
    TWO STEPS TO CUSTOMER DISCOVERY
    Are we solving a real problem?
    Who are the customers we are solving it for?
    Can we find customer who has this problem
    and would pay us to solve it?
    Is this the right solution that would actually solve
    the problem of the customers we found that
    are ready to pay us for it?
    STEP 1
    STEP 2

    View Slide

  113. PIVOT = SOMETHING CHANGED IN THE BUSINESS MODEL
    ITERATION = INCREMENT OR VARIATION THAT DOESN’T CHANGE BMC
    PIVOT OR ITERATE?

    View Slide

  114. YOU DO NOT
    GET TO PIVOT
    JUST BECAUSE

    IT IS HARD!

    View Slide

  115. View Slide

  116. View Slide

  117. View Slide

  118. View Slide

  119. View Slide

  120. View Slide

  121. CUSTOMER
    DISCOVERY

    View Slide

  122. View Slide

  123. CUSTOMER
    VALIDATION

    View Slide

  124. VALUE PROPOSITION

    View Slide

  125. CUSTOMER
    SEGMENTS

    View Slide

  126. View Slide

  127. WHAT ABOUT
    DESIGN
    THINKING?
    DESIGN THINKING VS CUSTOMER DEVELOPMENT
    SAME BUT DIFFERENT

    View Slide

  128. FOUNDER’S
    PRODUCT
    VISION
    BUILD
    ENTIRE
    PRODUCT
    FIND
    CUSTOMERS
    FOUNDER’S
    PRODUCT
    VISION
    BUILD
    MVPS
    ITERATE &
    PIVOT
    CUSTOMER
    NEEDS
    BUILD
    MVPS
    ITERATE &
    PIVOT
    20TH CENTURY
    TECH STARTUP
    21ST CENTURY
    LEAN STARTUP
    DESIGN 

    THINKING
    • Launch-timing driven by Business Plan
    • Hire Sales Staff
    Good-Enough Data
    Launch-timing driven by Customer Validation
    Hire Sales Staff
    • Extensive Data
    • Launch Product
    • Hire Sales Staff
    NO BUSINESS MODEL FOCUS
    BUSINESS MODEL FOCUS

    View Slide

  129. DESIGN THINKING VS 

    CUSTOMER DEVELOPMENT
    • CUSTOMER DEVELOPMENT AND DESIGN THINKING ARE BOTH 

    CUSTOMER DISCOVERY PROCESSES
    • CUSTOMER DEVELOPMENT STARTS WITH, “I HAVE A TECHNOLOGY/PRODUCT, NOW WHO DO
    I SELL IT TO?”
    • DESIGN THINKING STARTS WITH, “I NEED TO UNDERSTAND CUSTOMER NEEDS AND ITERATE
    PROTOTYPES UNTIL I FIND A TECHNOLOGY AND PRODUCT THAT SATISFIES THIS NEED”
    • CUSTOMER DEVELOPMENT IS OPTIMISED FOR SPEED AND “GOOD ENOUGH” DECISION
    MAKING WITH LIMITED TIME AND RESOURCES
    • DESIGN THINKING IS OPTIMISED FOR GETTING IT COMPLETELY RIGHT BEFORE MAKING BIG
    BETS
    • BOTH MODELS WORK FOR LARGE COMPANIES - BUT CUST DEV IS BETTER FOR STARTUPS

    View Slide

  130. EXERCISE
    EXISTING MODEL
    MODEL A WELL KNOWN COMPANY USING THE BMC
    IT’S EXERCISE TIME

    View Slide

  131. IT’S EXERCISE TIME

    View Slide

  132. NESSPRESSO ANNO 1987

    View Slide

  133. AS YOU KNOW IT TODAY

    View Slide

  134. SO
    WHAT
    HAPPENED?
    USE THE BMC TO DESCRIBE
    THE NESPRESSO BUSINESS MODEL
    YOU KNOW TODAY
    WORK IN TEAMS

    View Slide

  135. View Slide

  136. ONE
    MORE

    View Slide

  137. IT’S EXERCISE TIME

    View Slide

  138. View Slide

  139. EXERCISE
    FILL OUT 

    YOUR FIRST BMC
    USE THE BUSINESS MODEL CANVAS TO DESCRIBE VERSION 1 OF YOUR IDEA
    IT’S EXERCISE TIME

    View Slide

  140. DAY 1
    SUMMARY

    View Slide

  141. www.udacity.com/overview/Course/ep245

    View Slide

  142. View Slide

  143. View Slide

  144. 1. ARTICULATE YOUR HYPOTHESES (GUESSES ABOUT THE
    UNKNOWNS) USING THE BUSINESS MODEL CANVAS (BMC).
    2. GET OUT OF THE BUILDING AND TEST THESE HYPOTHESES
    USING CUSTOMER DEVELOPMENT.
    3. VALIDATE LEARNINGS BY BUILDING MINIMUM VIABLE
    PRODUCTS AND GETTING THEM IN FRONT OF CUSTOMERS.
    4. ITERATE (SMALL VARIATION, NO REAL CHANGE IN BMC) OR
    PIVOT (SOMETHING CHANGED IN THE BMC) AS NEEDED.
    5. BUILD - MEASURE - LEARN (AKA RINSE, LATHER, REPEAT -
    BECAUSE THIS IS AN ITERATIVE AND CONTINUOUS
    PROCESS - YOU HAVE TO GET OUT OF THE BUILDING MORE
    THAN ONCE!)
    THE
    LEAN
    STARTUP
    TL;DR

    View Slide

  145. DAY 2

    View Slide

  146. LEAN
    STARTUP
    MASTERCLASS
    DAY 2 OF 3
    DIGIHUB AACHEN
    SEPTEMBER 12. 2017

    View Slide

  147. OVERVIEW
    INNOVATION MASTERCLASS
    THE
    LEAN
    STARTUP
    =
    BUSINESS MODEL GENERATION
    CUSTOMER DEVELOPMENT
    AGILE ENGINEERING & MVP

    View Slide

  148. OVERVIEW
    INNOVATION MASTERCLASS
    =
    BUSINESS MODEL GENERATION
    CUSTOMER DEVELOPMENT
    DAY 1

    View Slide

  149. OVERVIEW
    INNOVATION MASTERCLASS
    CUSTOMER DEVELOPMENT
    AGILE ENGINEERING & MVP
    DAY 2+3
    =

    View Slide

  150. DAY 1
    SUMMARY

    View Slide

  151. www.udacity.com/overview/Course/ep245

    View Slide

  152. View Slide

  153. View Slide

  154. 1. ARTICULATE YOUR HYPOTHESES (GUESSES ABOUT THE
    UNKNOWNS) USING THE BUSINESS MODEL CANVAS (BMC).
    2. GET OUT OF THE BUILDING AND TEST THESE HYPOTHESES
    USING CUSTOMER DEVELOPMENT.
    3. VALIDATE LEARNINGS BY BUILDING MINIMUM VIABLE
    PRODUCTS AND GETTING THEM IN FRONT OF CUSTOMERS.
    4. ITERATE (SMALL VARIATION, NO REAL CHANGE IN BMC) OR
    PIVOT (SOMETHING CHANGED IN THE BMC) AS NEEDED.
    5. BUILD - MEASURE - LEARN (AKA RINSE, LATHER, REPEAT -
    BECAUSE THIS IS AN ITERATIVE AND CONTINUOUS
    PROCESS - YOU HAVE TO GET OUT OF THE BUILDING MORE
    THAN ONCE!)
    THE
    LEAN
    STARTUP
    TL;DR

    View Slide

  155. CUSTOMER
    DEVELOPMENT

    View Slide

  156. CUSTOMER
    DEVELOPMENT
    THE PROCESS OF VALIDATING YOUR BUSINESS MODEL

    CONTINUED…
    BUSINESS MODEL
    GENERATION
    CUSTOMER
    DEVELOPMENT
    AGILE ENGINEERING

    View Slide

  157. EXERCISE
    IDENTIFY YOUR 

    MOST CRITICAL
    ASSUMPTION(S)
    EXERCISE TIME
    IN YOUR BUSINESS MODEL

    View Slide

  158. CUSTOMER
    INTERVIEWS
    “A SPECIAL KIND OF TORTURE” - JUSTIN WILCOX
    HOW DO WE DO IT?

    View Slide

  159. HERE'S HOW (NOT) TO DO IT

    View Slide

  160. 1. PROBLEM
    2. SOLUTION
    REMEMBER WE HAVE TO GET OUT OF THE OFFICE AT LEAST TWICE
    CUSTOMER DISCOVERY

    View Slide

  161. INTERVIEW
    CHECKLIST
    PREPARING TO GET OUT OF THE BUILDING AND TALK TO CUSTOMERS
    VIDEOS WITH STEVE BLANK

    View Slide

  162. MORE
    RESOURCES
    GETTING OUT OF THE BUILDING AND TALKING TO CUSTOMERS
    MORE STEVE VIDEOS

    View Slide

  163. INTERVIEW
    SCRIPTS
    IT MAY HELP YOU TO PREPARE A SCRIPT IN ADVANCE
    B2B & B2C

    View Slide

  164. B2C
    1. TELL ME A STORY ABOUT THE LAST TIME...
    2. WHAT WAS THE HARDEST ABOUT THAT?
    3. WHY WAS THAT HARD?
    4. HOW DO YOU SOLVE IT NOW?
    5. WHY IS THAT NOT SO GREAT?
    • LOOK FOR EMOTIONS
    • ASK WHY 5 TIMES
    B2C INTERVIEW SCRIPT
    http://customerdevlabs.com

    View Slide

  165. 1. WHAT IS YOUR ROLE?
    2. WHAT DOES SUCCESS LOOK LIKE TO YOU?
    3. WHAT IS THE HARDEST PART ABOUT

    ACHIEVING SUCCESS?
    B2B INTERVIEW SCRIPT
    B2B
    http://customerdevlabs.com

    View Slide

  166. 10 MINUTES
    MAXIMUM
    ALL YOU NEED TO GET THE RELEVANT DATA
    INTERVIEW HEURISTICS

    View Slide

  167. KEEP IT
    CASUAL
    THE LESS FORMAL THE BETTER, THE MORE FRIVOLOUS FEEDBACK
    INTERVIEW HEURISTICS

    View Slide

  168. ASK
    QUESTIONS
    & LISTEN
    INTERVIEW HEURISTICS
    THE LESS TALKING YOU ARE DOING THE BETTER

    View Slide

  169. NO SELLING
    ALLOWED
    INTERVIEW HEURISTICS
    THIS IS HARD - BUT AT NO POINT IS SELLING ALLOWED

    View Slide

  170. THE 5
    WHYS
    INTERVIEW HEURISTICS
    KEEP ASKING “WHY" UP TO FIVE TIMES

    View Slide

  171. ASK ONLY
    ABOUT
    PAST 

    OR TODAY
    INTERVIEW HEURISTICS
    NOBODY CAN PREDICT THE FUTURE

    View Slide

  172. “WALK ME
    THROUGH IT”
    INTERVIEW HEURISTICS
    ASSUME YOU DON’T UNDERSTAND, ASK THEM TO TELL YOU

    View Slide

  173. THE
    CURRENCY
    TEST
    HOW TO VALIDATE THEY WANT IT

    View Slide

  174. TIME
    REPUTATION
    MONEY
    WILL THEY GIVE IT TO YOU?

    View Slide

  175. •10 MINUTES TALK MAX
    •KEEP IT CASUAL
    •ASK QUESTIONS & LISTEN
    •NO SELLING ALLOWED
    •ASK 5-WHYS
    •ASK ONLY ABOUT PAST OR TODAY
    •WALK ME THROUGH IT
    •CURRENCY TEST

    View Slide

  176. READ
    THE
    BOOK

    View Slide

  177. EXERCISE
    WRITE YOUR FIRST
    INTERVIEW SCRIPT
    IT DOES NOT HAVE TO BE PERFECT
    IT’S EXERCISE TIME

    View Slide

  178. EXERCISE
    PRACTICE
    THE INTERVIEW
    PRACTICE ON EACH OTHER, SWITCH ROLES
    IT’S EXERCISE TIME

    View Slide

  179. DEFINE
    PASS / FAIL CRITERIA IN ADVANCE

    View Slide

  180. PASS / FAIL CRITERIA
    • TESTING YOUR CRITICAL ASSUMPTIONS, YOU NEED TO DEFINE
    THE SUCCESS AND FAIL CRITERIA IN ADVANCE TO KEEP YOU
    FROM FUDGING THE FINDINGS TO FIT YOUR BELIEFS AFTER
    THE FACT
    • IT NEEDS TO BE A QUANTITATIVE OR QUALITATIVE RESULT
    • +40% IS OFTEN USED AS THE SUCCESS LIMIT
    • A SAMPLING POOL OF 10 PEOPLE IS NOT A SAMPLING POOL -
    IT’S RANDOM NOISE

    View Slide

  181. I BELIEVE THAT PEOPLE LIKE 

    (Customer Segment) 

    HAVE A NEED FOR OR PROBLEM DOING
    (Need / Action / Behaviour) 

    AND I WILL KNOW THAT 

    I HAVE SUCCEEDED WHEN 

    (Quantitative / Measurable Outcome) 

    OR 

    (Qualitative / Observable Outcome)
    PASS/FAIL CRITERIA

    View Slide

  182. EXERCISE

    DEFINE YOUR 

    PASS / FAIL 

    CRITERIA
    EXERCISE TIME

    View Slide

  183. THE
    FOCUS
    FRAMEWORK
    Justin Wilcox’
    https://thefocusframework.com/

    View Slide

  184. In order of “riskiness”, the 5 phases to 

    Product-Market Fit are:

    1. Finding Early Adopters for your product
    2. Offer Testing: You can reach your Early Adopters
    3. Currency Testing: Your Early Adopters will pay you
    4. Utility Testing: You can satisfy your Early Adopters
    5. Scaling to Fit: You can achieve Product-Market Fit
    THE 5 PHASES OF PRODUCT-MARKET FIT
    THE “FOCUS” FRAMEWORK
    https://thefocusframework.com/

    View Slide

  185. View Slide

  186. View Slide

  187. The riskiest assumption, for every startup, is that there are people actively trying to solve the problem your product will
    solve for them – these are the people we refer to as your Early Adopters.
    In particular, your goal during this phase of testing is to validate:
    • Are there people already trying to solve the problem (Early Adopters)?
    • Do you know how they describe the problem?
    • Do you know the emotions they experience associated with the problem?
    • Do you know where/how to reach them?
    • Do you know the deficiencies of their current solution?
    Experiment to Run: The best technique for validating these assumptions is the customer discovery interview.
    Interviews will answer any questions you have regarding the assumptions above, and set you up for success in validating
    the rest of your assumptions.
    Metric to Measure: What percentage of customers you interview report taking steps to solve the same problem within
    the last 6 months? Once 60% of your last 10 interviewees report actively trying to solve the same problem you are on the
    right way.
    1. FINDING EARLY ADOPTERS 

    FOR YOUR PRODUCT

    View Slide

  188. Your problem / need goes here…

    View Slide

  189. During your interviews, customers will tell you where and how to reach other Early Adopters. 

    Your goal in this phase is to validate what they told you.
    In other words, you’re testing that you can find more Early Adopters, you know what to say to them when you find
    them, and that they’re eager enough for a solution to the problem that they ask you for more information.
    Experiment to Run: To validate this assumption, you’re going to test a combination of marketing channels and
    marketing messages based on the results of your interviews.
    Potential Validation Experiment:
    • Ad campaigns
    • Cold email outreach
    • Cold calling campaigns
    • Becoming member of forums/communities
    • Social media outreach
    • Attending conferences, meetups, etc

    Metric to Measure: Once your Early Adopters’ response rate to your “Solution Offer” (i.e. click on your ads,
    respond to your emails, etc.) is high enough that you can clearly see a path to Product-Market Fit, you’re ready to
    test the next assumption.
    2. OFFER TESTING: 

    YOU CAN REACH YOUR EARLY ADOPTERS

    View Slide

  190. Once you’ve validated you can reach your Early Adopters, you need to test if they’ll “pay” you sufficiently to solve
    the problem.
    In this case “payment” can be in the form of actual cash, or it can be something else that leads directly to your
    Product-Market Fit (e.g. usage of your product, personal data, etc.) depending on your business model.
    Experiment to Run: To validate this assumption you’re going to actually ask for “payment.” While you won’t usually
    take the payment (because your product hasn’t been built yet), you’re going to ask for it and measure how many
    Early Adopters try to pay you.
    Examples include:
    • Landing page with pre-order functionality
    • Requesting a Letter of Intent after a solution interview
    • Asking for a cash payment after a solution interview
    • A mobile app w/ just enough functionality to measure the number of downloads and opens

    Metric to Measure: Once your Early Adopters “payment” conversion rate is high enough that you can clearly see a
    path to Product-Market Fit, you’re ready to test whether you can start solving the problem.
    3. CURRENCY TESTING: 

    YOUR EARLY ADOPTERS WILL PAY YOU

    View Slide

  191. Now it’s time to test whether you can actually solve your Early Adopters’ problems. While it can be tempting to
    automate your first couple attempts at a solution, there’s usually a more efficient way to to test this assumption.
    MVP to Build: Manual solutions are the best way to test whether you can solve an Early Adopter’s problem.
    While they make take more of your time to solve a customer’s problem, manual solutions are much faster to build,
    and even faster to iterate on, than automated (i.e. software) solutions. “At first, do what doesn’t scale.”

    Examples include:
    • Concierge MVP
    • Wizard of OZ MVP

    Metric to Measure: Once you’re solving the problem sufficiently well that your Customer Lifetime Value and your
    Viral Co-Efficient are high enough that you’re tracking towards Product-Market Fit, you’re ready to start scaling
    your solution.
    4. UTILITY TESTING: 

    YOU CAN SATISFY YOUR EARLY ADOPTERS

    View Slide

  192. Once you’ve validated that Early Adopters exist, you can reach them, they’ll pay you, and you can solve their
    problems sufficiently, the only assumption left is that you can scale until you achieve Product-Market Fit.
    MVP to Build: Now is the time you get to automate your solution, scale to multiple marketing channels, and branch
    out to your second and third customer segments.
    Examples include:
    • Beta version of your software
    • Single-feature MVP
    • Software-based pilot for a large customer
    • Running outreach campaigns in multiple channels simultaneously
    • Multiple, simultaneous, landing page test targeting different customers
    Metric to Measure: At this point you’re measuring that all your previous metrics (e.g. response rate, conversion
    rate, Lifetime Value and Viral Co-Efficient) are all still tracking towards you achieving Product-Market Fit.
    5. SCALING TO FIT
    YOU CAN ACHIEVE PRODUCT-MARKET FIT

    View Slide

  193. DAY 2
    SUMMARY

    View Slide

  194. www.udacity.com/overview/Course/ep245

    View Slide

  195. BUSINESS MODEL
    GENERATION

    View Slide

  196. CUSTOMER
    DEVELOPMENT

    View Slide

  197. TIME
    SEARCH PART OFTEN TAKES 1-2 YEARS
    ⇦ PRE/POST ⇨
    PRODUCT-MARKET FIT
    Test 1:
    Is this a
    problem
    Test 2:
    Is this the
    solution
    Test 3:
    Can we sell
    this solution
    Test 4:
    Can we repeat
    selling the solution
    Test 5:
    Can we scale
    our business

    View Slide

  198. View Slide

  199. View Slide

  200. FILL OUT YOUR
    FIRST BMC
    USE THE BUSINESS MODEL CANVAS TO DESCRIBE VERSION 1 OF YOUR IDEA
    IT’S EXERCISE TIME

    View Slide

  201. IDENTIFY THE 

    MOST CRITICAL
    ASSUMPTION(S)
    EXERCISE TIME
    IN YOUR BUSINESS MODEL V1.0

    View Slide

  202. I BELIEVE THAT PEOPLE LIKE 

    (Customer Segment) 

    HAVE A NEED FOR OR PROBLEM DOING
    (Need / Action / Behaviour) 

    AND I WILL KNOW THAT 

    I HAVE SUCCEEDED WHEN 

    (Quantitative / Measurable Outcome) 

    OR 

    (Qualitative / Observable Outcome)
    DEFINE PASS/FAIL CRITERIA

    View Slide

  203. • MAX 10 MINUTES INTERVIEW
    • KEEP IT CASUAL
    • ASK QUESTIONS & LISTEN
    • NO SELLING ALLOWED
    • ASK 5-WHYS
    • ASK ONLY ABOUT PAST OR TODAY
    • WALK ME THROUGH IT
    • CURRENCY TEST: 

    TIME, REPUTATION OR MONEY
    PREPARE CUSTOMER INTERVIEWS

    View Slide

  204. GET OUT
    OF THE
    BUILDING
    ONLY FANTASIES INSIDE THE OFFICE

    View Slide

  205. CUSTOMER
    DISCOVERY

    View Slide

  206. 1. ARTICULATE YOUR HYPOTHESES (GUESSES ABOUT THE
    UNKNOWNS) USING THE BUSINESS MODEL CANVAS (BMC).
    2. GET OUT OF THE BUILDING AND TEST THESE HYPOTHESES
    USING CUSTOMER DEVELOPMENT.
    3. VALIDATE LEARNINGS BY BUILDING MINIMUM VIABLE
    PRODUCTS AND GETTING THEM IN FRONT OF CUSTOMERS.
    4. ITERATE (SMALL VARIATION, NO REAL CHANGE IN BMC) OR
    PIVOT (SOMETHING CHANGED IN THE BMC) AS NEEDED.
    5. BUILD - MEASURE - LEARN (AKA RINSE, LATHER, REPEAT -
    BECAUSE THIS IS AN ITERATIVE AND CONTINUOUS
    PROCESS - YOU HAVE TO GET OUT OF THE BUILDING MORE
    THAN ONCE!)
    THE
    LEAN
    STARTUP
    TL;DR

    View Slide

  207. HOMEWORK
    FIND AT LEAST 

    100 CUSTOMERS 

    TO INTERVIEW
    EXERCISE TIME

    View Slide

  208. HOMEWORK
    SCHEDULE 

    AS MANY
    INTERVIEWS

    AS POSSIBLE
    EXERCISE TIME

    View Slide

  209. HOMEWORK
    CONDUCT 

    AS MANY
    INTERVIEWS

    AS POSSIBLE
    EXERCISE TIME

    View Slide

  210. GET OUT
    OF THE
    BUILDING
    WHAT ARE YOU WAITING FOR?

    View Slide

  211. DAY 3

    View Slide

  212. LEAN
    STARTUP
    MASTERCLASS
    DAY 3 OF 3
    DIGIHUB AACHEN
    SEPTEMBER 20. 2017

    View Slide

  213. OVERVIEW
    MASTERCLASS
    THE
    LEAN
    STARTUP
    =
    BUSINESS MODEL GENERATION
    CUSTOMER DEVELOPMENT
    AGILE ENGINEERING & MVP

    View Slide

  214. OVERVIEW
    MASTERCLASS
    =
    BUSINESS MODEL GENERATION
    CUSTOMER DEVELOPMENT
    DAY 1

    View Slide

  215. OVERVIEW
    MASTERCLASS
    CUSTOMER DEVELOPMENT
    AGILE ENGINEERING & MVP
    DAY 2+3
    =

    View Slide

  216. DAY 2
    SUMMARY

    View Slide

  217. www.udacity.com/overview/Course/ep245

    View Slide

  218. BUSINESS MODEL
    GENERATION

    View Slide

  219. CUSTOMER
    DEVELOPMENT

    View Slide

  220. THIS JOURNEY OFTEN TAKES +1 - 2 YEARS
    PRE/POST
    PRODUCT-MARKET FIT
    Test 1:
    Problem
    Test 2:
    Solution
    Test 3:
    Can we sell it
    Test 4:
    Can we scale it
    Test 5:
    Can we grow & sustain it

    View Slide

  221. View Slide

  222. View Slide

  223. FILL OUT YOUR
    FIRST BMC
    USE THE BUSINESS MODEL CANVAS TO DESCRIBE VERSION 1 OF YOUR IDEA
    IT’S EXERCISE TIME

    View Slide

  224. IDENTIFY THE 

    MOST CRITICAL
    ASSUMPTION(S)
    EXERCISE TIME
    IN YOUR BUSINESS MODEL V1.0

    View Slide

  225. I BELIEVE THAT PEOPLE LIKE 

    (customer segment) 

    HAVE A NEED FOR OR PROBLEM DOING
    (need / action / behaviour) 

    AND I WILL KNOW THAT 

    I HAVE SUCCEEDED WHEN 

    (quantitative / measurable outcome) 

    OR 

    (qualitative / observable outcome)
    DEFINE PASS/FAIL CRITERIA

    View Slide

  226. • MAX 10 MINUTES INTERVIEW
    • KEEP IT CASUAL
    • ASK QUESTIONS & LISTEN
    • NO SELLING ALLOWED
    • ASK 5-WHYS
    • ASK ONLY ABOUT PAST OR TODAY
    • WALK ME THROUGH IT
    • CURRENCY TEST: 

    TIME, REPUTATION OR MONEY
    PREPARE CUSTOMER INTERVIEWS

    View Slide

  227. GET OUT
    OF THE
    BUILDING
    ONLY FANTASIES INSIDE THE OFFICE

    View Slide

  228. CUSTOMER
    DISCOVERY

    View Slide

  229. 1. ARTICULATE YOUR HYPOTHESES (GUESSES ABOUT THE
    UNKNOWNS) USING THE BUSINESS MODEL CANVAS (BMC).
    2. GET OUT OF THE BUILDING AND TEST THESE HYPOTHESES
    USING CUSTOMER DEVELOPMENT.
    3. VALIDATE LEARNINGS BY BUILDING MINIMUM VIABLE
    PRODUCTS AND GETTING THEM IN FRONT OF CUSTOMERS.
    4. ITERATE (SMALL VARIATION, NO REAL CHANGE IN BMC) OR
    PIVOT (SOMETHING CHANGED IN THE BMC) AS NEEDED.
    5. BUILD - MEASURE - LEARN (AKA RINSE, LATHER, REPEAT -
    BECAUSE THIS IS AN ITERATIVE AND CONTINUOUS
    PROCESS - YOU HAVE TO GET OUT OF THE BUILDING MORE
    THAN ONCE!)
    THE
    LEAN
    STARTUP
    TL;DR

    View Slide

  230. PEER REVIEW
    HOW MANY
    INTERVIEWS DID
    YOU CONDUCT &
    WHAT DID YOU
    LEARN
    PRESENTATION TIME

    View Slide

  231. WHAT IS
    AGILE
    ENGINEERING?
    AND WHAT IS A MIMUM VIABLE PRODUCT?
    BUSINESS MODEL
    GENERATION
    CUSTOMER
    DEVELOPMENT
    AGILE ENGINEERING

    View Slide

  232. READ
    THE
    BOOK

    View Slide

  233. View Slide

  234. WHAT IS

    AGILE

    View Slide

  235. • Individuals and interactions over processes and tools
    • Working software over comprehensive documentation
    • Customer collaboration over contract negotiation
    • Responding to change over following a plan
    http://agilemanifesto.org
    PLUS 12 PRINCIPLES

    View Slide

  236. SCRUM

    AN AGILE
    FRAMEWORK

    View Slide

  237. https://www.youtube.com/watch?v=TRcReyRYIMg

    View Slide

  238. AGILE ENGINEERING
    • MINIMUM VIABLE PRODUCT INSTEAD OF FEATURE-COMPLETE
    • BUILD-MEASURE-LEARN ITERATIONS IN SMALL BATCHES 

    INSTEAD OF VERSION COMPLETE & WATERFALL PROCESS
    • GOOD ENOUGH VS PERFECT - SPEED IS OF THE ESSENCE
    • DATA / TEST DRIVEN DESIGN - HYPOTHESIS TESTING
    • AUTOMATED ACCEPTANCE TESTING + USER STORIES / SCENARIOS

    DESCRIBE WHAT WE WANT TO SEE THE SOFTWARE DO, THEN AUTOMATE 

    THE VERIFICATION THAT THE SOFTWARE ACTUALLY DOES IT
    • CONTINUOUS DEPLOYMENT, MULTIVARIABLE A/B TESTING, PAIR
    PROGRAMMING (XP), SCRUM & KANBAN

    View Slide

  239. MINIMUM
    VIABLE
    PRODUCT
    THE MVP

    View Slide

  240. View Slide

  241. View Slide

  242. View Slide

  243. MVP
    THE SMALLEST BATCH THAT 

    WILL TEACH YOU SOMETHING
    A VERSION OF YOUR PRODUCT THAT WILL TEST 

    YOUR RISKIEST ASSUMPTION
    WITH THE LEAST EFFORT

    View Slide

  244. MINIMUM
    VIABLE
    PRODUCT
    FOCUS ON VIABLE
    AN MVP MUST DELIVER VALUE TO THE CUSTOMER
    IT MUST HAVE UTILITY

    View Slide

  245. View Slide

  246. View Slide

  247. View Slide

  248. CAN YOU CREATE
    YOUR MVP IN ONE DAY

    View Slide

  249. DEFINE HOW & WHAT
    TO TRACK

    View Slide

  250. MEASURE THE DATA
    FROM YOUR MVP

    View Slide

  251. COMPARE DATA
    TO PASS / FAIL CRITERIA

    View Slide

  252. LEARN
    FROM THE DATA + INTERVIEWS

    View Slide

  253. ADAPT & ADJUST
    ACCORDINGLY

    View Slide

  254. DEPLOY
    THE NEW VERSION

    View Slide

  255. TEST
    AND TEST AGAIN

    View Slide

  256. BUILD-MEASURE-LEARN
    CYCLES

    View Slide

  257. • ITERATE OR PIVOT

    AS NEEDED
    • RELEASING SMALL
    BATCHES (V0.01)

    • IN BUILD-MEASURE-
    LEARN CYCLES

    View Slide

  258. MORE THAN
    ONE WAY
    TO MVP
    ONLY CREATIVITY
    IS THE LIMIT

    View Slide

  259. EXPLAINER
    VIDEO

    View Slide

  260. LANDING
    PAGE

    View Slide

  261. WIZARD
    OF OZ

    View Slide

  262. WIZARD OF OZ
    ZAPPOS

    View Slide

  263. MVP
    CONCIERGE

    View Slide

  264. CONCIERGE
    FOOD ON THE TABLE

    View Slide

  265. MVP
    PIECEMEAL

    View Slide

  266. PIECEMEAL
    AARDVARK

    View Slide

  267. CROWD
    FUNDING

    View Slide

  268. CROWDFUNDING
    STARTUPS

    View Slide

  269. CROWDFUNDING
    CORPORATES

    View Slide

  270. A/B
    TESTING

    View Slide

  271. A/B TESTING
    PROCTER&GAMBLE

    View Slide

  272. SINGLE FEATURE
    GOOGLE

    View Slide

  273. MVP - SEVERAL TYPES:
    • Explainer Video (Dropbox)
    • A Landing Page (Everyone - remember how to get
    currency)
    • Wizard of Oz MVP (Zappos)
    • Concierge MVP (Food on the Table)
    • Piecemeal MVP (Wizard of Oz + Concierge)
    • Crowd Funding (Sell and test demand before you build)
    • A / B Testing (P&G - data talks, bs walks)
    • Single-Feature MVP (google)
    • Your imagination is the limit…

    View Slide

  274. View Slide

  275. MVP IS HARD

    DO NOT
    DESPAIR
    FRAMEWORKS
    TO HELP YOU

    View Slide

  276. WHAT ARE
    YOU TRYING
    TO LEARN
    A HELPFUL
    FRAMEWORK

    View Slide

  277. Mapping the intersection of these two questions gives
    us a 2x2 matrix:
    Based on this, if we have a clear hypothesis of who our
    customer is and what we think they will pay for, we can
    conduct an Evaluative Market Experiment such as a
    smoke test.
    If we don’t have a clear idea of who our customer is, we
    can do Generative Market Research like data mining.
    Similarly, if we have a clear hypothesis of which features
    will solve the customer’s problems, we can do an
    Evaluative Product Experiment such as Wizard of Oz
    testing. If we do not know which features will lead to an
    acceptable solution, we can do Generative Product
    Research such as a Concierge Product to try and come
    up with new ideas.
    Any framework is an oversimplification of reality:
    This Index is a quick way to navigate to the correct method, but doesn’t mean you don’t need to think.
    1. Do we need to learn about the market or the product?
    2. Do we have a clear hypothesis to evaluate or do we 

    need to generate a clear idea?

    View Slide

  278. MARKET VS PRODUCT
    • Who is our customer?
    • What are their pains?
    • What job needs to be done?
    • How are they doing this job today?
    • Does the customer segment already have
    a solution to this pain?
    • Is this customer segment really willing to
    pay for a better solution for this job?
    • Is our customer segment too broad?
    • How do we find them?
    • How much will this customer segment
    pay?
    • How do we convince this customer
    segment to buy?
    • What is the cost to acquire a customer in
    this customer segment?
    • How can we solve this problem?
    • What form should this take?
    • How important is the design?
    • What’s the quickest solution?
    • What is the minimum feature set?
    • How should we prioritise?
    • Is this solution working?
    • Are people using it?
    • Which solution is better?
    • How should we optimise this?
    • What do people like / dislike?
    • Why do they do that?
    • Why do prospects buy from us?
    • Why do prospects not buy from us?

    View Slide

  279. In the Business Model Canvas, “Market”
    questions are those on the right side of the
    canvas including: 

    Customer, Channel, Relationship, & Revenue
    “Product” questions are those about the Value
    Proposition and everything left of it including: 

    Key Activities, Key Resources, Key Partners, 

    & Costs

    View Slide

  280. View Slide

  281. View Slide

  282. MORE
    GET THE REAL
    STARTUP BOOK
    AVAILABLE
    DOWNLOADS
    http://www.kromatic.com/downloads

    View Slide

  283. TOOLS TO
    HELP YOUR
    MVP
    SOME EXAMPLES

    View Slide

  284. EXAMPLE TOOLS
    FOR MVP

    View Slide

  285. THE
    FOCUS
    FRAMEWORK
    Justin Wilcox’
    https://thefocusframework.com/

    View Slide

  286. In order of “riskiness”, the 5 phases to 

    Product-Market Fit are:

    1. Finding Early Adopters for your product
    2. Offer Testing: You can reach your Early Adopters
    3. Currency Testing: Your Early Adopters will pay you
    4. Utility Testing: You can satisfy your Early Adopters
    5. Scaling to Fit: You can achieve Product-Market Fit
    THE 5 PHASES OF PRODUCT-MARKET FIT
    THE “FOCUS” FRAMEWORK

    View Slide

  287. View Slide

  288. View Slide

  289. The riskiest assumption, for every startup, is that there are people actively trying to solve the problem your product will
    solve for them – these are the people we refer to as your Early Adopters.
    In particular, your goal during this phase of testing is to validate:
    • Are there people already trying to solve the problem (Early Adopters)?
    • Do you know how they describe the problem?
    • Do you know the emotions they experience associated with the problem?
    • Do you know where/how to reach them?
    • Do you know the deficiencies of their current solution?
    Experiment to Run: The best technique for validating these assumptions is the customer discovery interview.
    Interviews will answer any questions you have regarding the assumptions above, and set you up for success in validating
    the rest of your assumptions.
    Metric to Measure: What percentage of customers you interview report taking steps to solve the same problem within
    the last 6 months? Once 60% of your last 10 interviewees report actively trying to solve the same problem you are on the
    right way.
    1. FINDING EARLY ADOPTERS 

    FOR YOUR PRODUCT

    View Slide

  290. Your problem / need goes here…

    View Slide

  291. During your interviews, customers will tell you where and how to reach other Early Adopters. 

    Your goal in this phase is to validate what they told you.
    In other words, you’re testing that you can find more Early Adopters, you know what to say to them when you find
    them, and that they’re eager enough for a solution to the problem that they ask you for more information.
    Experiment to Run: To validate this assumption, you’re going to test a combination of marketing channels and
    marketing messages based on the results of your interviews.
    Potential Validation Experiment:
    • Ad campaigns
    • Cold email outreach
    • Cold calling campaigns
    • Becoming member of forums/communities
    • Social media outreach
    • Attending conferences, meetups, etc

    Metric to Measure: Once your Early Adopters’ response rate to your “Solution Offer” (i.e. click on your ads,
    respond to your emails, etc.) is high enough that you can clearly see a path to Product-Market Fit, you’re ready to
    test the next assumption.
    2. OFFER TESTING: 

    YOU CAN REACH YOUR EARLY ADOPTERS

    View Slide

  292. Once you’ve validated you can reach your Early Adopters, you need to test if they’ll “pay” you sufficiently to solve
    the problem.
    In this case “payment” can be in the form of actual cash, or it can be something else that leads directly to your
    Product-Market Fit (e.g. usage of your product, personal data, etc.) depending on your business model.
    Experiment to Run: To validate this assumption you’re going to actually ask for “payment.” While you won’t usually
    take the payment (because your product hasn’t been built yet), you’re going to ask for it and measure how many
    Early Adopters try to pay you.
    Examples include:
    • Landing page with pre-order functionality
    • Requesting a Letter of Intent after a solution interview
    • Asking for a cash payment after a solution interview
    • A mobile app w/ just enough functionality to measure the number of downloads and opens

    Metric to Measure: Once your Early Adopters “payment” conversion rate is high enough that you can clearly see a
    path to Product-Market Fit, you’re ready to test whether you can start solving the problem.
    3. CURRENCY TESTING: 

    YOUR EARLY ADOPTERS WILL PAY YOU

    View Slide

  293. Now it’s time to test whether you can actually solve your Early Adopters’ problems. While it can be tempting to
    automate your first couple attempts at a solution, there’s usually a more efficient way to to test this assumption.
    MVP to Build: Manual solutions are the best way to test whether you can solve an Early Adopter’s problem.
    While they make take more of your time to solve a customer’s problem, manual solutions are much faster to build,
    and even faster to iterate on, than automated (i.e. software) solutions.
    Examples include:
    • Concierge MVP
    • Wizard of Oz MVP

    Metric to Measure: Once you’re solving the problem sufficiently well that your Customer Lifetime Value and your
    Viral Co-Efficient are high enough that you’re tracking towards Product-Market Fit, you’re ready to start scaling
    your solution.
    4. UTILITY TESTING: 

    YOU CAN SATISFY YOUR EARLY ADOPTERS

    View Slide

  294. Once you’ve validated that Early Adopters exist, you can reach them, they’ll pay you, and you can solve their
    problems sufficiently, the only assumption left is that you can scale until you achieve Product-Market Fit.
    MVP to Build: Now is the time you get to automate your solution, scale to multiple marketing channels, and branch
    out to your second and third customer segments.
    Examples include:
    • Beta version of your software
    • Single-feature MVP
    • Software-based pilot for a large customer
    • Running outreach campaigns in multiple channels simultaneously
    • Multiple, simultaneous, landing page test targeting different customers
    Metric to Measure: At this point you’re measuring that all your previous metrics (e.g. response rate, conversion
    rate, Lifetime Value and Viral Co-Efficient) are all still tracking towards you achieving Product-Market Fit.
    5. SCALING TO FIT
    YOU CAN ACHIEVE PRODUCT-MARKET FIT

    View Slide

  295. 20 WAYS
    TO AVOID
    BUILDING
    STUFF
    http://www.leancustomerdevelopment.com/

    View Slide

  296. READ
    THE
    BOOK

    View Slide

  297. WHY?
    SAVE TIME + MONEY + HEADACHES

    BUILD THE RIGHT STUFF

    AT THE RIGHT TIME
    FOR THE RIGHT CUSTOMERS
    FOR THE RIGHT REASONS

    View Slide

  298. 1.
    PLAY SHRINK
    “TELL ME HOW IT
    WOULD MAKE
    YOUR LIFE BETTER?”

    View Slide

  299. 2.
    SAY WHAT 

    YOU ARE FOR
    SAY WHAT YOU
    ARE AGAINST

    View Slide

  300. 3.
    “THIS IS WHAT
    YOU SHOULD
    DO, INSTEAD”

    View Slide

  301. 4.
    SEND THE
    CUSTOMER TO
    THE COMPETITOR

    View Slide

  302. 5.
    OFFER A
    WORKAROUND

    View Slide

  303. 6.
    FAKE 

    THE
    FUNCTIONALITY

    View Slide

  304. 7.
    IGNORE IT
    UNTIL YOU
    CAN’T

    View Slide

  305. 8.
    BE 

    LESS ATTRACTIVE
    TO CERTAIN
    TYPES OF
    CUSTOMERS

    View Slide

  306. 9.
    COMPENSATE
    “UNTIL WE CAN DO
    X, USE US FOR FREE”

    View Slide

  307. 10.
    LET SOME FISH 

    GET AWAY

    View Slide

  308. 11.
    BUILD
    A SIMPLE
    API

    View Slide

  309. 12.
    HIDE THINGS
    BEHIND EMAIL
    INSTEAD OF
    BUILDING IT

    View Slide

  310. 13.
    FORCE CUSTOMERS 

    TO PICK A SINGLE
    PRIORITY 

    PUT IT TO A VOTE

    View Slide

  311. 14.
    ASK FOR 

    A RIDICULOUS
    AMOUNT OF MONEY 

    E.G. WHEN A CUSTOMER ASKS FOR A NEW FEATURE

    View Slide

  312. 15.
    HAVE RULES
    BUT 

    DON’T
    ENFORCE THEM

    View Slide

  313. 16.
    ONLY BUILD IT 

    IF YOU CAN
    MEASURE IT
    IF YOU CAN’T MEASURE IF IT ACTUALLY WORKS LIKE INTENDED, IT’S NOT IMPORTANT

    View Slide

  314. 17.
    ASK
    FOR
    HELP
    CROWDSOURCE: 

    E.G. “DON’T SEE YOUR LANGUAGE? HELP US WITH THE TRANSLATION TO MAKE IT HAPPEN!”

    View Slide

  315. 18.
    BE
    GRATEFUL
    LOYAL FANS ARE YOUR #1 RESOURCE

    View Slide

  316. 19.
    NOTIFY ME
    WHEN...
    E.G. CHECKBOXES

    View Slide

  317. 20.
    PLAY NICE
    WITH
    OTHERS
    ENABLE COMBINING DIFFERENT PRODUCTS, SERVICES FOR VALUE-ADDS

    View Slide

  318. EXERCISE
    DEFINE YOUR
    MVP
    EXERCISE TIME

    View Slide

  319. OVERVIEW
    MASTERCLASS
    THE
    LEAN
    STARTUP
    =
    BUSINESS MODEL GENERATION
    CUSTOMER DEVELOPMENT
    AGILE ENGINEERING & MVP

    View Slide

  320. OVERVIEW
    MASTERCLASS
    =
    BUSINESS MODEL GENERATION
    CUSTOMER DEVELOPMENT
    DAY 1

    View Slide

  321. OVERVIEW
    MASTERCLASS
    CUSTOMER DEVELOPMENT
    AGILE ENGINEERING & MVP
    DAY 2+3
    =

    View Slide

  322. DAY 3
    SUMMARY

    View Slide

  323. www.udacity.com/overview/Course/ep245

    View Slide

  324. THIS JOURNEY OFTEN TAKES +1 - 2 YEARS
    PRE/POST
    PRODUCT-MARKET FIT
    Test 1:
    Problem
    Test 2:
    Solution
    Test 3:
    Can we sell it
    Test 4:
    Can we repeat it
    Test 5:
    Can we scale & sustain it

    View Slide

  325. CUSTOMER
    DISCOVERY

    View Slide

  326. View Slide

  327. View Slide

  328. MVP: THE SMALLEST PRODUCT 

    THAT WILL HELP TEST YOUR MOST 

    CRITICAL ASSUMPTION(S) WITH DATA
    RELEASED IN SMALL BATCHES
    IN BUILD-MEASURE-LEARN CYCLES
    ITERATE OR PIVOT AS NEEDED
    BASED ON DATA FROM MVP

    + CUSTOMER INTERVIEWS

    View Slide

  329. MVP
    WHAT ARE YOU
    TESTING; WHY 

    & HOW
    HOMEWORK

    View Slide

  330. MVP
    HOW WILL YOU
    DEFINE
    PASS / FAIL
    HOMEWORK

    View Slide

  331. HOMEWORK
    CONDUCT 

    AT LEAST 15
    CUSTOMER
    INTERVIEWS
    BY NEXT WEEK
    PRESENTATION TIME

    View Slide

  332. GET OUT 

    OF THE
    BUILDING
    GET OUT TIME

    View Slide

  333. ONE
    MORE
    THING
    WHERE DO WE GO FROM HERE?

    View Slide

  334. LEAN
    LAUNCHPAD
    THE 12 WEEK EARLY-STAGE

    SUPPORT PROGRAM
    THE NEXT STEP

    FROM PLUSANDERSEN.COM

    View Slide

  335. The National Science Foundation (NSF)
    is a United States government agency
    that supports fundamental research
    and education in all the non-medical
    fields of science and engineering.
    They decide which public scientific
    research PROJECTS will get FEDERAL
    funding for commercialisation in the US.
    BUDGET: $7B
    ANNUALLY
    LLP CASE STUDY

    View Slide

  336. NSF's iCORPS accelerator
    program went from a 18% to a
    +60% funding rate of projects
    after requiring applicants to take
    the Lean Launchpad (LLP) program
    as a prerequisite for applying for
    funding.
    LLP CASE STUDY
    50X FASTER
    INNOVATION
    WITH THE LLP

    View Slide

  337. THE LEAN LAUNCHPAD (LLP)
    OUTSIDE

    WORK MEETUPS MENTORING
    VIDEO LECTURES

    WRITTEN MATERIAL

    CUSTOMER INTERVIEWS
    EXPERIENCE-BASED
    DISCUSSIONS - INSIGHTS
    ADDITIONAL LECTURES

    ACCOUNTABILITY

    FEEDBACK, PEER REVIEW
    DURING MEETUPS

    BETWEEN MEETUPS
    WITH EXPERIENCED

    ENTREPRENEURS

    View Slide

  338. LLP +4.000 TEAMS WORLD WIDE
    • STARTED AT STANFORD & BERKELEY

    IN 2011
    • NATIONAL SCIENCE FOUNDATION’S

    INNOVATION-CORPS
    • +200 UNIVERSITIES WORLD WIDE
    • +40 ACCELERATORS / INCUBATORS
    • FORTUNE 500 CORPORATIONS

    View Slide

  339. ANDERSEN CERTIFIED
    LLP EDUCATOR @ STANFORD

    View Slide

  340. 1. YOUR LAST CONCRETE 5 TODOS AND WHAT HAPPENED TO THEM

    2. YOUR RESULTS (NUMBER OF INTERVIEWS AND % PASS/FAIL)

    3. WHAT YOU LEARN / CHANGE IN THE BMC AND WHY YOU THINK SO
    4. YOUR CURRENT BIGGEST CHALLENGE(S)

    5. THE CONCRETE NEXT 5 THINGS YOU WILL HAVE DONE UNTIL NEXT WEEK
    THE WEEKLY REPORT
    THE LEAN LAUNCHPAD 

    REPORT FORMAT

    View Slide

  341. WE HELP 

    YOUR COMPANY 

    GET READY 

    FOR TOMORROW
    TODAY
    PLUSANDERSEN.COM

    View Slide

  342. MORE
    PLUSANDERSEN.COM
    • Education & Training
    • Programs & Processes
    • Innovation Metrics
    • Management Tools
    • Innovation Outposts
    • Human Assets
    SOME OF OUR CUSTOMERS:

    View Slide

  343. PRE-ACCELERATION ACCELERATION
    GENERATION EDUCATION SELECTION FINAL DECISION SCALING UP
    DEALFLOW
    LEARNING JOURNEY
    LEARNING KEYNOTE
    KILL YOUR COMPANY
    INNOVATOR
    MASTERCLASS
    INNOVATOR
    BOOTCAMP
    LEAN
    LAUNCHPAD
    MVP AS 

    A SERVICE
    INNOVATION
    OUTPOSTS
    DEMO
    DAY
    PITCHING
    MASTERCLASS
    EXPERTS AS
    A SERVICE
    MENTORS AS
    A SERVICE
    TRAIN THE TRAINER
    SPINNING
    OUT
    +ANDERSEN PROGRAMS
    AT ALL STAGES

    View Slide

  344. +ANDERSEN 

    & ASSOCIATES
    INNOVATION & GROWTH
    THROUGH
    SCIENCE + ENTREPRENEURSHIP
    LEARN MORE

    PLUSANDERSEN.COM

    View Slide