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2013 intersect principles keynote

  1. 1. Lean Startup Product Teams Principles of Success Janice Fraser CEO, LUXr 1
  2. 2. © LUXR.CO APRIL 2013 2
  3. 3. TWEET! @clevergirl #LeanStartup cc @LUXRCO © LUXR.CO APRIL 2013 3
  4. 4. http://saptstrength.com/ © LUXR.CO APRIL 2013 4
  5. 5. sedonaweddingcakes.com © LUXR.CO APRIL 2013 5
  6. 6. freebestpictures.blogspot.com © LUXR.CO APRIL 2013 6
  7. 7. thekitchn.com © LUXR.CO APRIL 2013 7
  8. 8. brides.com © LUXR.CO APRIL 2013 8
  9. 9. brides.com © LUXR.CO APRIL 2013 9
  10. 10. sedonaweddingcakes.com brides.com brides.com © LUXR.CO APRIL 2013 10
  11. 11. LEAN Startup © LUXR.CO APRIL 2013 11
  12. 12. Build measure learn! © LUXR.CO APRIL 2013 12
  13. 13. © LUXR.CO APRIL 2013 13
  14. 14. Lean Startup is NOT Cheap Startup Fast Startup Shortcut Startup © LUXR.CO APRIL 2013 14
  15. 15. Lean Startup is... 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. © LUXR.CO APRIL 2013 15
  16. 16. 1. List your assumptions. 2. Understand your customers. 3. Experiment efficiently. 4. Adjust direction based on evidence. © LUXR.CO APRIL 2013 16
  17. 17. Lean Startup advocates experiments & learning Learn Build Measure © LUXR.CO APRIL 2013 17
  18. 18. Go backward to go forward. Learn Build Measure © LUXR.CO APRIL 2013 18
  19. 19. Think of it like this... TDD Test-driven product management A Lean Startup is a test-driven COMPANY © LUXR.CO APRIL 2013 19
  20. 20. Victory is measured in learning. © LUXR.CO APRIL 2013 20
  21. 21. RISK = UNVALIDATED EFFORT Plot the difference MAKE release MAKE release MAKE release THINK TIME © LUXR.CO APRIL 2013 21
  22. 22. RISK = UNVALIDATED EFFORT Lots of little wiggles TIME © LUXR.CO APRIL 2013 22
  23. 23. Each wiggle is a learning cycle. RISK = UNVALIDATED EFFORT MEASURE MAKE BUILD release BUILD TIME LEARN © LUXR.CO APRIL 2013 23
  24. 24. This will change how you think about your role, your work, your team, your process. © LUXR.CO APRIL 2013 24
  25. 25. © LUXR.CO APRIL 2013 25
  26. 26. Principles for Lean Startup Teams 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. © LUXR.CO APRIL 2013 26
  27. 27. Team first, then product © LUXR.CO APRIL 2013 27
  28. 28. Team first, then product • Not just who’s on the team, but how they work together (no ninjas, gurus, rockstars!) • Invest time in developing productive relationships • Continuous process improvement © LUXR.CO APRIL 2013 28
  29. 29. 29
  30. 30. Chris Min 10 years as CEO, Wharton MBA, Silicon Valley trained 30
  31. 31. Burning social capital © LUXR.CO APRIL 2013 31
  32. 32. Why does this matter to Lean Startups? • Most of your decisions as a team, as a company, will be wrong. • Flexible teams can solve almost any problem. • Respectful, trusting team wastes little time on pettiness, gossip, arguments © LUXR.CO APRIL 2013 32
  33. 33. Don’t carry the past. © LUXR.CO APRIL 2013 33
  34. 34. © LUXR.CO APRIL 2013 34
  35. 35. Tom Conrad Grew Pandora from 10 people to IPO © LUXR.CO APRIL 2013 35
  36. 36. © LUXR.CO APRIL 2013 36
  37. 37. © LUXR.CO APRIL 2013 37
  38. 38. © LUXR.CO APRIL 2013 38
  39. 39. © LUXR.CO APRIL 2013 39
  40. 40. Pandora-Style Planning • 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. © LUXR.CO APRIL 2013 40
  41. 41. Friday, before I left for this conference. © LUXR.CO APRIL 2013 41
  42. 42. © LUXR.CO APRIL 2013 42
  43. 43. Lean Startup teams believe in... (from Lean Manufacturing and Extreme Programming) Simplicity Courage Trust Process Continuous Improvement © LUXR.CO APRIL 2013 43
  44. 44. The Influence of Agile “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.” © LUXR.CO APRIL 2013 44
  45. 45. If you get the team right, you’ll find your way to the right product. © LUXR.CO APRIL 2013 45
  46. 46. Thank you! happiness@luxr.co #LeanStartup cc @LUXRCO, @clevergirl © LUXR.CO APRIL 2013 46
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