Running lean - YearOneLabs, Montreal

1. RUNNING LEAN A systematic process for iterating your web application from Plan A to a plan that works ASH MAURYA @ashmaurya http://www.ashmaurya.com

2. 9/10 startups fail

3. 66% drastically change their original plans

4. Not a better Plan A. But a path to a plan that works.

5. Running Lean is a systematic process for iterating from Plan A to a plan that works.

6. Agenda 1. What is Running Lean? 2. What does a Lean Startup look like? 3. How can you use Lean to deﬁne and measure progress?

8. About Me

9. Practice Trumps Theory

10. What is Running Lean Customer Development + Lean Startup + Bootstrapping

11. Startups that succeed are those that manage to iterate enough times before running out of resources. - Eric Ries Speed

12. Get out of the building. - Steve Blank Learning

13. Right Action, Right Time. - Bijoy Goswami Focus

14. Speed, Learning, Focus.

15. There are no silver bullets

17. 1. Document your Plan A 2. Systematically Test your Plan A

18. Business Model vs Business Plan A single diagram of your business A document investors make you write that they don’t read

19. Problem Top 3 problems Solution Top 3 features Unique Value Proposition Single, clear, compelling message that states why you are different and worth buying Unique Value Proposition Single, clear, compelling message that states why you are different and worth buying Unfair Advantage Can’t be easily copied or bought Customer Segments Target customers Problem Top 3 problems Key Activity Activity that drives retention/revenue Unique Value Proposition Single, clear, compelling message that states why you are different and worth buying Unique Value Proposition Single, clear, compelling message that states why you are different and worth buying Channels Path to customers Customer Segments Target customers Cost Structure Customer Acquisition Costs Distribution Costs Hosting People, etc. Cost Structure Customer Acquisition Costs Distribution Costs Hosting People, etc. Cost Structure Customer Acquisition Costs Distribution Costs Hosting People, etc. Revenue Streams Revenue Model Life Time Value Revenue Gross Margin Revenue Streams Revenue Model Life Time Value Revenue Gross Margin Revenue Streams Revenue Model Life Time Value Revenue Gross Margin

20. The 3 Stages of a Startup Problem/Solution Fit Product/Market Fit Scale

21. Validate Problem/Solution Fit Problem/Solution Fit Product/Market Fit Scale Do I have a problem worth solving?

23. Achieve Product/Market Fit Have I built something people want? Problem/Solution Fit Product/Market Fit Scale

24. Requirements ReleaseDevelopment QA “Greatest risk is not development of new product, but development of customers and markets.” - Steve Blank

25. Requirements ReleaseDevelopment QA Some learning “Greatest risk is not development of new product, but development of customers and markets.” - Steve Blank

26. Requirements ReleaseDevelopment QA Some learning Most learning happens here “Greatest risk is not development of new product, but development of customers and markets.” - Steve Blank

27. Requirements ReleaseDevelopment QA Some learning Very little learning Most learning happens here “Greatest risk is not development of new product, but development of customers and markets.” - Steve Blank

28. Requirements Release Customer Discovery Customer Validation Continuous Deployment “Startups that succeed are those that manage to iterate enough times before running out of resources.” - Eric Ries

29. Problem Top 3 problems Solution Top 3 features Unique Value Proposition Single, clear, compelling message that states why you are different and worth buying Unique Value Proposition Single, clear, compelling message that states why you are different and worth buying Unfair Advantage Can’t be easily copied or bought Customer Segments Target customers Problem Top 3 problems Key Activity Activity that drives retention/ revenue Unique Value Proposition Single, clear, compelling message that states why you are different and worth buying Unique Value Proposition Single, clear, compelling message that states why you are different and worth buying Channels Path to customers Customer Segments Target customers Cost Structure Customer Acquisition Costs Distribution Costs Hosting People, etc. Cost Structure Customer Acquisition Costs Distribution Costs Hosting People, etc. Cost Structure Customer Acquisition Costs Distribution Costs Hosting People, etc. Revenue Streams Revenue Model Life Time Value Revenue Gross Margin Revenue Streams Revenue Model Life Time Value Revenue Gross Margin Revenue Streams Revenue Model Life Time Value Revenue Gross Margin

30. Optimize for Scale How do I accelerate growth? Problem/Solution Fit Product/Market Fit Scale

32. Before Product/Market Fit Validated Learning Pivots Problem/Solution Fit Product/Market Fit Scale

33. After Product/Market Fit Growth Optimizations Validated Learning Pivots Problem/Solution Fit Product/Market Fit Scale

35. Not just limited to code

36. Speed, Learning, Focus.

37. How to build a validated learning loop 1. Formulate falsiﬁable hypotheses 2. Time-box experiments 3. Validate Qualitatively, Verify Quantitatively 4. Create accessible dashboards 5. Communicate learning early and often

40. Leap of Faith: Being known as an “expert” will drive early adopters Hypothesis: Blog post will drive >100 early sign-ups

42. Time is more valuable than money.

44. Qualitative Quantitative Start here Verify with data

46. Words matter Images matter

51. We thought (Hypotheses): Our Customers told us (Insights): Next Steps (Future Experiments): 0 12.5 25 37.5 50 Jan Feb Mar Apr May June July $20K $15K $10K $5K $0 • Personal Authority would be a viable channel to early adopters • Customers would vote the problem as “must-have” • Customers would pay $49/mo • Most early adopters did come through blog and twitter • Customers voted #3 problem as “must- have”. Others as nice-to-have • $49/mo works for customers with early traction •Test MVP based on “must-have” problem •Test a “Free” model Results from last iteration

52. Not a better Plan A. But a path to a plan that works.

53. Thanks! Ash Maurya twitter: ashmaurya blog: http://www.ashmaurya.com Running Lean - the book Systematically iterate your product from plan A to a plan that works http://www.RunningLeanHQ.com

Running lean - YearOneLabs, Montreal

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