Lean Startup: Insider's Story
description
Transcript of Lean Startup: Insider's Story
![Page 2: Lean Startup: Insider's Story](https://reader034.fdocuments.nl/reader034/viewer/2022042814/5538438d4a79594f6c8b4729/html5/thumbnails/2.jpg)
Bayram Annakov Oleg Parinovcrazy CEO JDI Project Manager
![Page 3: Lean Startup: Insider's Story](https://reader034.fdocuments.nl/reader034/viewer/2022042814/5538438d4a79594f6c8b4729/html5/thumbnails/3.jpg)
WTF is lean?
WTF is start-up?
![Page 4: Lean Startup: Insider's Story](https://reader034.fdocuments.nl/reader034/viewer/2022042814/5538438d4a79594f6c8b4729/html5/thumbnails/4.jpg)
WTF = wikipedia to fools
Lean Startup is a concept coined (and trademarked) by Eric Ries. Ries writes that lean startups are born out of the following three trends:
1. use of free and open source software,
2. application of agile software development methods, and
3. ferocious customer-centric rapid iteration, as exemplified by the Customer Development process[1].
Lean Startup initially advocates the creation of rapid prototypes designed to test market assumptions, and uses customer feedback to evolve them much faster than via more traditional software
engineering practices, such as the Waterfall model. It is not uncommon to see Lean Startups release new code to production multiple times a day[2], often using a practice known as Continuous
Deployment[3].
According to the New York Times, "The term 'lean start-up' was coined by Mr. Ries, 31, an engineer, entrepreneur and blogger. His inspiration, he says, was the lean manufacturing process, fine-
tuned in Japanese factories decades ago and focused on eliminating any work or investment that doesnʼt produce value for customers." [4]
Lean Startup is sometimes described as Lean Thinking applied to the entrepreneurial process[5]. A central tenet of Lean Thinking is to reduce waste. Lean Startup processes reduce waste by
increasing the frequency of contact with real customers, therefore testing and avoiding incorrect market assumptions as early as possible[6]. This approach attempts to improve on historical
entrepreneurial tactics by reducing the work required to assess assumptions about the market, and to decrease the time it takes a business to find market traction. This is referred to as Minimum
Viable Product.
In The Entrepreneur's Guide to Customer Development, Brant Cooper and Patrick Vlaskovits add a fourth element, and that is the use of powerful, low-cost and easy-to-use analytics. While some
characteristics of lean startups have been practiced for years, the confluence of these trends is a recent phenomenon and offers the potential for unprecedented "speed of iteration" or "number of
learning cycles per dollar" as business hones in on product-market fit[7].
[edit]
![Page 5: Lean Startup: Insider's Story](https://reader034.fdocuments.nl/reader034/viewer/2022042814/5538438d4a79594f6c8b4729/html5/thumbnails/5.jpg)
Our story
![Page 6: Lean Startup: Insider's Story](https://reader034.fdocuments.nl/reader034/viewer/2022042814/5538438d4a79594f6c8b4729/html5/thumbnails/6.jpg)
Nov 2010
Mobile Ad
![Page 7: Lean Startup: Insider's Story](https://reader034.fdocuments.nl/reader034/viewer/2022042814/5538438d4a79594f6c8b4729/html5/thumbnails/7.jpg)
Mobile Ad
Developer Advertiser
Advertising Network
![Page 8: Lean Startup: Insider's Story](https://reader034.fdocuments.nl/reader034/viewer/2022042814/5538438d4a79594f6c8b4729/html5/thumbnails/8.jpg)
PrototypeFeb
2011
![Page 9: Lean Startup: Insider's Story](https://reader034.fdocuments.nl/reader034/viewer/2022042814/5538438d4a79594f6c8b4729/html5/thumbnails/9.jpg)
Two-sided market
Developer Advertiser
more...
more...
![Page 10: Lean Startup: Insider's Story](https://reader034.fdocuments.nl/reader034/viewer/2022042814/5538438d4a79594f6c8b4729/html5/thumbnails/10.jpg)
Others
![Page 11: Lean Startup: Insider's Story](https://reader034.fdocuments.nl/reader034/viewer/2022042814/5538438d4a79594f6c8b4729/html5/thumbnails/11.jpg)
Insight #1
Focus
![Page 12: Lean Startup: Insider's Story](https://reader034.fdocuments.nl/reader034/viewer/2022042814/5538438d4a79594f6c8b4729/html5/thumbnails/12.jpg)
Focus on developers
We need a success story
Mar 2011
![Page 13: Lean Startup: Insider's Story](https://reader034.fdocuments.nl/reader034/viewer/2022042814/5538438d4a79594f6c8b4729/html5/thumbnails/13.jpg)
Change of plans!
![Page 14: Lean Startup: Insider's Story](https://reader034.fdocuments.nl/reader034/viewer/2022042814/5538438d4a79594f6c8b4729/html5/thumbnails/14.jpg)
Change of plans!
- security systems
![Page 15: Lean Startup: Insider's Story](https://reader034.fdocuments.nl/reader034/viewer/2022042814/5538438d4a79594f6c8b4729/html5/thumbnails/15.jpg)
Change of plans!
- security systems
- online project management
![Page 16: Lean Startup: Insider's Story](https://reader034.fdocuments.nl/reader034/viewer/2022042814/5538438d4a79594f6c8b4729/html5/thumbnails/16.jpg)
Change of plans!
- security systems
- online project management
- first personal computers
![Page 17: Lean Startup: Insider's Story](https://reader034.fdocuments.nl/reader034/viewer/2022042814/5538438d4a79594f6c8b4729/html5/thumbnails/17.jpg)
Change of plans!
- security systems
- online project management
- first personal computers
- collection of links to research papers
![Page 18: Lean Startup: Insider's Story](https://reader034.fdocuments.nl/reader034/viewer/2022042814/5538438d4a79594f6c8b4729/html5/thumbnails/18.jpg)
Change of plans!
- security systems
- online project management
- first personal computers
- collection of links to research papers
- online game
![Page 19: Lean Startup: Insider's Story](https://reader034.fdocuments.nl/reader034/viewer/2022042814/5538438d4a79594f6c8b4729/html5/thumbnails/19.jpg)
Change of plans!
- security systems
- online project management
- first personal computers
- collection of links to research papers
- online game
- printer drivers
![Page 20: Lean Startup: Insider's Story](https://reader034.fdocuments.nl/reader034/viewer/2022042814/5538438d4a79594f6c8b4729/html5/thumbnails/20.jpg)
Squeek
Apr 2011 Get in touch with people nearby
![Page 21: Lean Startup: Insider's Story](https://reader034.fdocuments.nl/reader034/viewer/2022042814/5538438d4a79594f6c8b4729/html5/thumbnails/21.jpg)
•Group messaging•Location-based•Simple!•and no ads...
![Page 22: Lean Startup: Insider's Story](https://reader034.fdocuments.nl/reader034/viewer/2022042814/5538438d4a79594f6c8b4729/html5/thumbnails/22.jpg)
Insight #2
Understand your
market
![Page 23: Lean Startup: Insider's Story](https://reader034.fdocuments.nl/reader034/viewer/2022042814/5538438d4a79594f6c8b4729/html5/thumbnails/23.jpg)
First user testing
Apr 2011
Be closer to user
![Page 24: Lean Startup: Insider's Story](https://reader034.fdocuments.nl/reader034/viewer/2022042814/5538438d4a79594f6c8b4729/html5/thumbnails/24.jpg)
First user testing
Apr 2011
Be closer to a user
![Page 25: Lean Startup: Insider's Story](https://reader034.fdocuments.nl/reader034/viewer/2022042814/5538438d4a79594f6c8b4729/html5/thumbnails/25.jpg)
What is happening?
May 2011
How many people?
What are they doing?
What is the cost of ad campaigns?
![Page 26: Lean Startup: Insider's Story](https://reader034.fdocuments.nl/reader034/viewer/2022042814/5538438d4a79594f6c8b4729/html5/thumbnails/26.jpg)
Key Performance Indicators (KPI)
![Page 27: Lean Startup: Insider's Story](https://reader034.fdocuments.nl/reader034/viewer/2022042814/5538438d4a79594f6c8b4729/html5/thumbnails/27.jpg)
Customers (users)funnelVisited the site
Downloaded the app
Opened the app
Wrote the first message
Visited more than once
iPhone users
![Page 28: Lean Startup: Insider's Story](https://reader034.fdocuments.nl/reader034/viewer/2022042814/5538438d4a79594f6c8b4729/html5/thumbnails/28.jpg)
Customers acquisition
Visited the site
Downloaded the app
Opened the app
Wrote the first message
Visited more than once
iPhone users
![Page 29: Lean Startup: Insider's Story](https://reader034.fdocuments.nl/reader034/viewer/2022042814/5538438d4a79594f6c8b4729/html5/thumbnails/29.jpg)
Retention
Visited the site
Downloaded the app
Opened the app
Wrote the first message
Visited more than once
iPhone users
![Page 30: Lean Startup: Insider's Story](https://reader034.fdocuments.nl/reader034/viewer/2022042814/5538438d4a79594f6c8b4729/html5/thumbnails/30.jpg)
next steps in counting
• lifetime value of a customer (LTC)
• crash rate
• revenue/acquisition cost
![Page 31: Lean Startup: Insider's Story](https://reader034.fdocuments.nl/reader034/viewer/2022042814/5538438d4a79594f6c8b4729/html5/thumbnails/31.jpg)
Insight #3
Count everything and double-check
There is no product feature without counting
![Page 32: Lean Startup: Insider's Story](https://reader034.fdocuments.nl/reader034/viewer/2022042814/5538438d4a79594f6c8b4729/html5/thumbnails/32.jpg)
«Zero problem»
May 2011
People need people to talk to
![Page 33: Lean Startup: Insider's Story](https://reader034.fdocuments.nl/reader034/viewer/2022042814/5538438d4a79594f6c8b4729/html5/thumbnails/33.jpg)
Tactics
Feel free not to choose
Push notifications
Invite
![Page 34: Lean Startup: Insider's Story](https://reader034.fdocuments.nl/reader034/viewer/2022042814/5538438d4a79594f6c8b4729/html5/thumbnails/34.jpg)
Insight #4: Strategy thinking
![Page 35: Lean Startup: Insider's Story](https://reader034.fdocuments.nl/reader034/viewer/2022042814/5538438d4a79594f6c8b4729/html5/thumbnails/35.jpg)
Why realtime?
June 2011
![Page 36: Lean Startup: Insider's Story](https://reader034.fdocuments.nl/reader034/viewer/2022042814/5538438d4a79594f6c8b4729/html5/thumbnails/36.jpg)
Action items
![Page 37: Lean Startup: Insider's Story](https://reader034.fdocuments.nl/reader034/viewer/2022042814/5538438d4a79594f6c8b4729/html5/thumbnails/37.jpg)
Flexibility
Market
Changes
Fails
![Page 38: Lean Startup: Insider's Story](https://reader034.fdocuments.nl/reader034/viewer/2022042814/5538438d4a79594f6c8b4729/html5/thumbnails/38.jpg)
Tools for flexibility
• Mock-ups and prototypes
• A/B testing
• Business models
![Page 39: Lean Startup: Insider's Story](https://reader034.fdocuments.nl/reader034/viewer/2022042814/5538438d4a79594f6c8b4729/html5/thumbnails/39.jpg)
Mock-ups
• Mock Flow
• Simple Diagrams
• Post-its
![Page 40: Lean Startup: Insider's Story](https://reader034.fdocuments.nl/reader034/viewer/2022042814/5538438d4a79594f6c8b4729/html5/thumbnails/40.jpg)
A/B testing
Hard to decide? Test both!
![Page 41: Lean Startup: Insider's Story](https://reader034.fdocuments.nl/reader034/viewer/2022042814/5538438d4a79594f6c8b4729/html5/thumbnails/41.jpg)
A/B for e-mail
![Page 42: Lean Startup: Insider's Story](https://reader034.fdocuments.nl/reader034/viewer/2022042814/5538438d4a79594f6c8b4729/html5/thumbnails/42.jpg)
Business model
![Page 43: Lean Startup: Insider's Story](https://reader034.fdocuments.nl/reader034/viewer/2022042814/5538438d4a79594f6c8b4729/html5/thumbnails/43.jpg)
Lean Start-up
idea
prototype
test
![Page 44: Lean Startup: Insider's Story](https://reader034.fdocuments.nl/reader034/viewer/2022042814/5538438d4a79594f6c8b4729/html5/thumbnails/44.jpg)
idea
• brainstorm
• self-usage
• ask!
![Page 45: Lean Startup: Insider's Story](https://reader034.fdocuments.nl/reader034/viewer/2022042814/5538438d4a79594f6c8b4729/html5/thumbnails/45.jpg)
prototype
• developing new product
• adding new feature
• can we test our idea without implementing?
![Page 46: Lean Startup: Insider's Story](https://reader034.fdocuments.nl/reader034/viewer/2022042814/5538438d4a79594f6c8b4729/html5/thumbnails/46.jpg)
test
• give it to the market
• take data how the customers use the feature (what indicators?)
• decide the necessity of the feature
![Page 47: Lean Startup: Insider's Story](https://reader034.fdocuments.nl/reader034/viewer/2022042814/5538438d4a79594f6c8b4729/html5/thumbnails/47.jpg)
example: share button
Idea: let the users share the room to their friends
Prototype: share button to facebook or vkontakte wall, to twitter or via email
Test: nobody uses the button
![Page 48: Lean Startup: Insider's Story](https://reader034.fdocuments.nl/reader034/viewer/2022042814/5538438d4a79594f6c8b4729/html5/thumbnails/48.jpg)
example: topicsIdea: people need topics for discussion
Prototype: creating rooms for different topics
Test: how many people discussed topics
Decision: let’s create topics
the number of messages per day
![Page 49: Lean Startup: Insider's Story](https://reader034.fdocuments.nl/reader034/viewer/2022042814/5538438d4a79594f6c8b4729/html5/thumbnails/49.jpg)
Next step for topics
• How we can test without implementing and waiting?
• We have got Squeek - a dolphin bot
• Let the bot give the topic (or ask about it)
• How can we evaluate the result?
![Page 50: Lean Startup: Insider's Story](https://reader034.fdocuments.nl/reader034/viewer/2022042814/5538438d4a79594f6c8b4729/html5/thumbnails/50.jpg)
Summary
• Be flexible
• Test your ideas on the market
• Analyze the data
• and...
![Page 51: Lean Startup: Insider's Story](https://reader034.fdocuments.nl/reader034/viewer/2022042814/5538438d4a79594f6c8b4729/html5/thumbnails/51.jpg)
and... love your product!