Janice Fraser - Lean Startup Product Teams

Janice is one of America’s leading experts on Lean Startup, having advised such successful companies as Task Rabbit, Lyft, and Sharethrough. She has twice been called to The White House to train administration staff on innovation, and her workshops have sold out around the world. Janice is herself a serial entrepreneur and an interaction designer. Her latest company endeavor (new.luxr.co) provides online workshops from a wide range of startup coaches. The company also provides curriculum to top accelerators and has coached more than 50 Silicon Valley startups. Janice is a frequent keynote speaker at startup conferences around the world and top business schools, including Kellogg and Haas.

Transcript

1. Lean Startup
   Product Teams Janice Fraser! November 2013
2. © LUXR.CO 2013
3. © LUXR.CO 2013 TWEET! ! #LeanStartup! cc @LUXRCO @clevergirl
4. © 2013 LUXr Incorporated, www.luxr.co June & Pete’s 
 Wedding Cake
5. © 2013 LUXr Incorporated, www.luxr.co http://saptstrength.com/ Pete June
6. © 2013 LUXr Incorporated, www.luxr.co April http://saptstrength.com/ May June July August
7. © 2013 LUXr Incorporated, www.luxr.co sedonaweddingcakes.com
8. © 2013 LUXr Incorporated, www.luxr.co freebestpictures.blogspot.com
9. © 2013 LUXr Incorporated, www.luxr.co thekitchn.com
10. © 2013 LUXr Incorporated, www.luxr.co Zoe Clark, The Cake Parlour
11. © 2013 LUXr Incorporated, www.luxr.co sedonaweddingcakes.com Zoe Clark, The Cake Parlour
12. © 2013 LUXr Incorporated, www.luxr.co LEAN Star tup
13. © LUXR.CO APRIL 2013 LEAN Star tup
14. © LUXR.CO APRIL 2013 Build measure learn!
15. © LUXR.CO APRIL 2013
16. © LUXR.CO 2013 Lean Startup is NOT Cheap Startup Fast Startup Shortcut Startup
17. © LUXR.CO APRIL 2013 An approach for building companies that are creating new products and services in situations of extreme uncertainty.! The approach advocates creating small products that test the entrepreneur’s assumptions, and using customer feedback to evolve the product, thereby reducing waste. Lean Startup is...
18. © LUXR.CO APRIL 2013 1. List your assumptions. 2. Understand your customers. 3. Experiment efficiently. 4. Adjust direction based on evidence.
19. © LUXR.CO APRIL 2013 Lean Startup advocates experiments & learning
20. © LUXR.CO APRIL 2013 Go backward to go forward. Learn Measur e Build
21. © LUXR.CO 2013 Think of it like this... TDD A Lean Startup is a test-driven COMPANY
22. © LUXR.CO 2013 Victory is measured in learning.
23. © LUXR.CO 2013 Plot the difference THINK release MAKE release MAKE release MAKE RISK = UNVALIDATED EFFORT TIME
24. © LUXR.CO 2013 Lots of little wiggles RISK = UNVALIDATED EFFORT TIME
25. © LUXR.CO 2013 RISK = UNVALIDATED EFFORT TIME Each wiggle is a learning cycle. MAKE release BUILD LEARN BUILD MEASURE
26. © LUXR.CO 2013 This will change how you think about your role, your work, your team, your process.
27. © LUXR.CO 2013
28. © LUXR.CO 2013 1. Team first, then product. ! 2. PM + Dev + UX = 1 Product Team! 3. Work out loud. ! 4. Make processes repeatable, then routine. ! 5. Don’t get stuck in your happy place. ! 6. Invest in clarifying the problem.! 7. Drive toward goals and measure outcomes. ! 8. Ideas are cheap. Have a lot of them. ! 9. Decide quickly. Hold decisions lightly. ! 10. Don’t carry the past. Principles for Lean Startup Teams
29. © LUXR.CO 2013 Team first, 
 then product 1
30. © LUXR.CO 2013 • Who’s on the team! • How they work together ! • What they believe! • Invest time in developing productive relationships Team first, 
 then product
31. © LUXR.CO 2013 • Most of your decisions as a company, as a team, will be wrong. ! • Flexible teams can solve almost any problem.! • A trusting team wastes little time on pettiness, hurt feelings, arguments. Why?
32. © LUXR.CO 2013 Burning 
 social capital
33. Chris Min 10 years as CEO, Wharton MBA, Silicon Valley trained
35. © LUXR.CO 2013 “The courage to speak truths, pleasant or unpleasant, fosters communication and trust. ! ! “The courage to discard failing solutions and seek new ones encourages simplicity. ! ! “The courage to seek real, concrete answers creates feedback.”! The Influence of Agile
36. © LUXR.CO 2013 Lean Startup teams believe in... (from Lean Manufacturing and Extreme Programming) Simplicity Courage Trust Process Continuous Improvement
37. © LUXR.CO 2013 If you get the team right, you’ll find your way to the right product.
38. © LUXR.CO 2013 Don’t carry the past. 10
39. © LUXR.CO 2013
40. © LUXR.CO 2013 Tom Conrad Grew Pandora from 10 people to IPO
41. © LUXR.CO 2013
42. © LUXR.CO 2013
43. © LUXR.CO 2013
44. © LUXR.CO 2013
45. © LUXR.CO 2013 • Whole company (up to 6 ppl), every 60 or 90 days.! • Ahead of the meeting, everyone submits requests to the CEO/ CTO, with the prompt “We would be stupid not to…” ! • Submit each idea as a slide, with a headline and a few bullet points to explain.! • 70-100 items. CEO/CTO de-duplicates and assigns a $-value that represents the amount of effort! • “Dollars” are created in an amount that represents current capaticy, divided equally among the 6 participants. ! • Day-long working session to “shop” for the most important items. ! • Chuck the unfunded. Group the fully funded, nearly funded, radically under-funded. ! • Discuss and bargain until you have a set of fully funded items. Pandora-Style Planning
46. © LUXR.CO 2013 Yesterday...
47. © LUXR.CO 2013
48. © LUXR.CO 2013 WHICH LEADS US TO Icebox Zero
49. © LUXR.CO 2013 • User stories go stale after 60 days.! • Rewrite as high-level objectives and put those into the 60-day planning process.! • When the high-level objectives are “funded”, rewrite the stories...better, stronger, more relevant, based on newest learning and metrics. Icebox Zero
50. © LUXR.CO 2013 @clevergirl! @LUXRCO! Thank you!