Startup Glossary - Must have Startup Vocabulary

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Information about Startup Glossary - Must have Startup Vocabulary
Business & Mgmt

Published on January 12, 2014

Author: BenjaminBestmann



Dieser Workshop gibt eine kurze Einführung rund um die wichtigsten Innovationsmethoden von Startups. Was ist das Erfolgsgeheimnis von Dropbox, Airbnb & Co? Erfahren Sie was ein Startup von einem bestehen Unternehmen unterscheidet und mit Hilfe welcher Vorgehensmodelle innovative Produkte und Dienstleistungen systematisch entwickelt und getestet werden können. Themen sind dabei unter anderem: Lean Startup, Customer Development, Design Thinking und der Business Model Canvas.

STARTUP GLOSSARY BEGRIFFE UND METHODEN AUS DER STARTUP-WELT Daniel Bartel Benjamin Bestmann Exec I/O | Düsseldorf | 02.12.2013

About! Ein Zusammenschluss aus Unternehmern und Innovatoren DANIEL  BARTEL   Business Innovation Evangelist BENJAMIN  BESTMANN   DR.  WINFRIED  RICHTER   ADRIAN  THOMA   Business Innovator & Entrepreneur, davor Serial Entrepreneur Founder Corporate-Executive PROF.  DR.  NILS  HÖGSDAL   Wissenschaftlicher Begleiter + UNSER NETZWERK •  STEVE BLANK (4 Steps to Epiphany) •  BOB DORF (The Startup Owners Manual) •  ALEXANDER OSTERWALDER (Business Model Generation) •  ASH MAURYA (Running Lean Series, Spark 59) •  YVES PIGNEUR & ALAN SMITH (Business Model Generation) •  ROB FITZPATRICK (The Mom Test) •  PROF. DR. GUNTER DUECK (ehem. CTO IBM) •  SAL VIRANI (Leancamp) •  uvm Exec I/O | Düsseldorf | 02.12.2013 2

What is a Startup? Some Definitions „A human institution designed to create a new product or service under conditions of extreme uncertainty.” - Eric Ries „A startup is a temporary organization in search for a scalable, repeatable, profitable business model.“ -  Exec I/O | Düsseldorf | 02.12.2013 Steve Blank 3

Startups = Experiments Problem (Market) = unknown Solution (Product) = unknown Exec I/O | Düsseldorf | 02.12.2013 4

Innovation Spectrum Sustaining vs. Disruptive Innovation The Lean Entrepreneur, 16699289 Exec I/O | Düsseldorf | 02.12.2013 5

Search vs. Execute „Startups are not just smaller versions of big companies“ Source:  h*p:// Exec I/O | Düsseldorf | 02.12.2013 6

One method to rule them all? No! Startups need their own management tools MBA = ADMINISTRATION (perfect for running a company, but not for “designing”) Exec I/O | Düsseldorf | 02.12.2013 7

Efficiency vs. Effectivity Are you advancing a plan or are you making progress? Exec I/O | Düsseldorf | 02.12.2013 8


According to Ash Maurya … 66% drastically change their original plans Exec I/O | Düsseldorf | 02.12.2013 10

Don‘t build products nobody wants Why startups fail “ Startups don’t fail because they lack a product; they fail because they lack customers and a profitable business model ” Exec I/O | Düsseldorf | 02.12.2013 11

Innovation Value Chain Proof of Concept Theory BASIC RESEARCH APPLIED RESEARCH Prototype PRE DEVELOPMENT DEVELOPMENT 1st Model PRE PRODUCTION 1st Batch PRODUCTION DESIGN THINKING Empathize & Define Ideate Prototype & Test LEAN STARTUP Customer Discovery Customer Validation & Creation Company Building BUSINESS MODEL GENERATION Value Proposition Design Exec I/O | Düsseldorf | 02.12.2013 Business Model Canvas 12

The four stages of a Startup Product/Market-­‐Fit   Problem/Solu1on-­‐Fit   Search Exec I/O | Düsseldorf | 02.12.2013 Execution 13

The four stages of a Startup Exec I/O | Düsseldorf | 02.12.2013 14

The Problem of existing companies: Our  Learning  Curve   Speed  of  Change   Past   Future   Eddies Obeng's the world after midnight rate of lerning pace of change around us Exec I/O | Düsseldorf | 02.12.2013 15

Alexander Osterwalder says: “Every Business Model has an Expiry-Date!” Exec I/O | Düsseldorf | 02.12.2013 16

Lean Startup Exec I/O | Düsseldorf | 02.12.2013 17

Lean? Maximize Customer Value while minimizing waste. In context of startups/innovation: “Every activity that helps to learn about what creates value for potential customers.” Exec I/O | Düsseldorf | 02.12.2013 18

Lean Startup A scientific approach to manage Disruptive Innovation Define Hypotheses Make assumptions about your business. Build & Run Experiments Test your assumptions empirically. Learn from the Results Pivot (change strategy) or Persevere. Exec I/O | Düsseldorf | 02.12.2013 19

Build-Measure-Learn Scientific Feedback Loop Exec I/O | Düsseldorf | 02.12.2013 20

Define Hypotheses Exec I/O | Düsseldorf | 02.12.2013 21

Finding a Business Model The Business Model Canvas (Alexander Osterwalder) Exec I/O | Düsseldorf | 02.12.2013 22

“Business Model Stack” Exec I/O | Düsseldorf | 02.12.2013 23

Test Assumptions Exec I/O | Düsseldorf | 02.12.2013 24

Get out of the Building „There are no facts inside“ (Steve Blank) Exec I/O | Düsseldorf | 02.12.2013 25

Systematically Test your Model Exec I/O | Düsseldorf | 02.12.2013 26

Minimum Viable Product (MVP) The minimum feature set that enables learning Examples: •  •  •  •  •  •  Landing Pages Videos / Sketches Screenshots Paper Prototypes Mockups & Wireframes KickStarter Exec I/O | Düsseldorf | 02.12.2013 27

Pretotyping (Concierge Service) h*p://­‐start-­‐up/inspira1on/pretotype-­‐building-­‐the-­‐right-­‐it-­‐vs.-­‐building-­‐it-­‐right/   Exec I/O | Düsseldorf | 02.12.2013 28

Pretotyping (Concierge Service) h*p://­‐start-­‐up/inspira1on/pretotype-­‐building-­‐the-­‐right-­‐it-­‐vs.-­‐building-­‐it-­‐right/   Exec I/O | Düsseldorf | 02.12.2013 29

Make it count Innovation Accounting & Metrics Example: AARRR Framework by Dave McClure Exec I/O | Düsseldorf | 02.12.2013 30

Design Thinking Exec I/O | Düsseldorf | 02.12.2013 31

Non-linear Process Problem Solution POV   Exec I/O | Düsseldorf | 02.12.2013 h*p://   32

“64% of features and functions are rarely or never used.” *Source: Standish Group. Exec I/O | Düsseldorf | 02.12.2013 33

© HPI / D-School und andere empathize   define    test   ideate   prototype   Exec I/O | Düsseldorf | 02.12.2013 34

Huge OutCOME! Exec I/O | Düsseldorf | 02.12.2013 35

Digg for needs, wishes & insights Exec I/O | Düsseldorf | 02.12.2013 36

Fragen? Fragen. BENJAMIN  BESTMANN   mail: mobil: @BenBestmann web: DANIEL  BARTEL   mail: twitter: @danbar87 web:

3 Mayor Risks 1. Product Risk: Getting the product right   2. Customer Risk: Building a path to customers   3. Market Risk: Building a viable business è TEST THEM ALL!!!   Exec I/O | Düsseldorf | 02.12.2013 38

prototype: fail early and often h*p://­‐9-­‐prototyping-­‐ pdf.html   Exec I/O | Düsseldorf | 02.12.2013 39

Traditional Development Exec I/O | Düsseldorf | 02.12.2013 40

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