Published on March 4, 2014
Lean adjective a : lacking or deficient in flesh b : containing little or no fat <lean meat>
Why Lean? It’s a race • • • • • Fast Agile Efficient FOCUSED HUNGRY
Importance of focus
FOCUS - Customer Development
A startup is a temporary organization designed to search for a scalable and repeatable business model
Lean Methodology Minimum Viable Product (MVP) OODA Loop / Build-Measure-Learn OBSERVE ORIENTATE ACT DECIDE Colonel John Boyd, USAF
Lean Methodology Split Testing Metrics • • • • Measure what matters Customer traction Conversion ratios Cost of acquisition ……
Lean Methodology Pivoting • Talk to customers • Test assumptions • Make early sales “you gotta know when to hold ‘em, know when to fold ‘em, know when to walk away, know when to run …” A quick death is a good death. Don’t over invest in a bad idea.
Lean Tools Designed For: Business Model Canvas II (based on the Business Model Canvas from www.businessmodelgeneration.com) Use this document to conceptualize and define a business model. Start in the middle (Value Prop), and spend most of your time nailing that statement. Then follow down to Alternatives, Cost & Revenue, and fill out the rest. The bottom section is used for operational tracking. SALES Customer Segments Value Prop (Elevator Pitch) Alternatives Designed By: Date: Iteration: DELIVERY Customer Relationships Key Activities Channel Key Partners Revenue Model Market Size / Market Opportunity www.explorics.com Cost Model Key Resources This work is licensed under the Creative Commons Attribution-ShareAlike 3.0 Unported License. To view a copy of this license, visit http://creativecommons.org/licenses/by-sa/3.0/ or send a letter to Creative Commons, 444 Castro Street, Suite 900, Mountain View, California, 94041, USA.
Lean Start-ups in Practice Ignition Labs Health & Medtech Accelerator Australia’s first niche Seed Accelerator program - Designed to help companies secure initial customers and capital investment. This is achieved through: • 6-month Business Development Program • Expert Mentors • $25,000+ Seed Capital • Investor Roadshow AUS / EU / US Applications close soon. www.ignitionlabs.com.au
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