Lean Startup and MVP Building
- 1. Lean Startup & MVP Building CAIROCAIRO
- 2. ACCELERATING ENTREPRENEURSHIP IN MENA WWW.FLAT6LABS.COM THE LEAN STARTUP BOOK
- 3. ACCELERATING ENTREPRENEURSHIP IN MENA WWW.FLAT6LABS.COM STARTUP A STARTUP IS A HUMAN INSTITUTION DESIGNED TO DELIVER A NEW PRODUCT OR SERVICE UNDER CONDITIONS OF EXTREME UNCERTAINTY.
- 4. ACCELERATING ENTREPRENEURSHIP IN MENA WWW.FLAT6LABS.COM STARTUP ENEMIES PERFECTION TIME RESISTANCE TO CHANGE
- 5. ACCELERATING ENTREPRENEURSHIP IN MENA WWW.FLAT6LABS.COM SUCCESS/FAILURE WHAT DIFFERENTIATES THE SUCCESS STORIES FROM THE FAILURES IS THAT THE SUCCESSFUL ENTREPRENEURS HAD THE FORESIGHT, THE ABILITY, AND THE TOOLS TO DISCOVER WHICH PARTS OF THEIR PLANS WERE WORKING BRILLIANTLY AND WHICH WERE MISGUIDED, AND ADAPT THEIR STRATEGIES ACCORDINGLY.
- 6. ACCELERATING ENTREPRENEURSHIP IN MENA WWW.FLAT6LABS.COM LEAN CYCLE IDEAS PRODUCTDATA BUILD MEASURE LEARN
- 7. ACCELERATING ENTREPRENEURSHIP IN MENA WWW.FLAT6LABS.COM MINIMUM VIABLE PRODUCT THE MVP IS THAT VERSION OF THE PRODUCT THAT ENABLES A FULL TURN OF THE BUILD-MEASURE- LEARN LOOP WITH A MINIMUM AMOUNT OF EFFORT AND THE LEAST AMOUNT OF DEVELOPMENT TIME.
- 8. ACCELERATING ENTREPRENEURSHIP IN MENA WWW.FLAT6LABS.COM SOME FACTS MOST OF THE TIME CUSTOMERS DON’T KNOW WHAT THEY WANT IN ADVANCE. LEARNING IS COLD COMFORT TO TEAM WHO IS FOLLOWING AN ENTREPRENEUR INTO THE UNKNOWN. PLENTY OF ENTREPRENEURS FOCUS THEIR ENERGIES ON: HAVING THE BEST PRODUCT IDEA OR THE BEST- DESIGNED INITIAL PRODUCT OR OBSESSING OVER DATA AND METRICS.
- 9. ACCELERATING ENTREPRENEURSHIP IN MENA WWW.FLAT6LABS.COM MYTHS LEAN STARTUP METHOD LEADS TO LOW-QUALITY PRODUCT LEAN STARTUP IS NOT OPPOSED TO BUILDING HIGH-QUALITY PRODUCTS, BUT ONLY IN SERVICE OF THE GOAL OF WINNING OVER CUSTOMERS. MVP IS A PROTOTYPE/DEMO MVP IS A VERSION OF A PRODUCT TO TEST FUNDAMENTAL BUSINESS HYPOTHESIS
- 10. ACCELERATING ENTREPRENEURSHIP IN MENA WWW.FLAT6LABS.COM MYTHS LEAN STARTUPS ARE BOOTSTRAPPED STARTUPS LEAN STARTUPS ARE AMBITIOUS TO LEARN AND GROW TO DEPLOY LARGE AMOUNTS OF CAPITAL LEAN MEANS CHEAP LEAN STARTUP IS NOT ABOUT COST, IT’S ABOUT SPEED
- 11. ACCELERATING ENTREPRENEURSHIP IN MENA WWW.FLAT6LABS.COM MAVP IN THEIR WORDS.. STEVE BLANK “MINIMUM FEATURE SET” PAUL GRAHAM “QUANTUM OF UTILITY” REID HOFFMAN “IF YOU’RE NOT EMBARRASSED BY THE FIRST VERSION OF THE PRODUCT YOU’VE LAUNCHED, YOU’VE LAUNCHED TOO LATE.”
- 12. ACCELERATING ENTREPRENEURSHIP IN MENA WWW.FLAT6LABS.COM MVP PRODUCT VIABLE MINIMUM
- 13. ACCELERATING ENTREPRENEURSHIP IN MENA WWW.FLAT6LABS.COM MVP EXAMPLES •Skinned Wordpress blog and posted daily •Used FileMaker to create PDF coupons and emailed •Effectively validated the demand for such service without developing a seamless system
- 14. ACCELERATING ENTREPRENEURSHIP IN MENA WWW.FLAT6LABS.COM MVP EXAMPLES •Before starting significant technical development, made a 3 min video to demonstrate how the Dropbox is meant to work •Call to action was to sign up for beta waiting list •75,000 visits over one night •Effectively validated its assumption that customers wanted the product that Dropbox was developing http://www.youtube.com/watch?v=7QmCUDHpNzE
- 15. ACCELERATING ENTREPRENEURSHIP IN MENA WWW.FLAT6LABS.COM FOOD ON THE TABLE •Signed up the first customer by describing benefits of the service and its subscription fee •Without developing a software to deliver the service, the company provided its service manually and personally •Gradually automated as customers grew •Allowed the company to learn customer needs in detail and to automate functions that works and expand the scope of the service
- 16. ACCELERATING ENTREPRENEURSHIP IN MENA WWW.FLAT6LABS.COM AARDVARK •Build a series of prototypes for ways customers could interact with the virtual assistant and get their questions answered, measuring their engagement. •Wizard of Oz testing technique. •Once Aardvark (the sixth prototype) was chosen, continued refinement with humans replicating pieces of the backend as much as possible(to avoid premature and unnecessary technical development. •Company sold to Google for $50M
- 17. ACCELERATING ENTREPRENEURSHIP IN MENA WWW.FLAT6LABS.COM ZAPPOS •Took pictures of shoes from mall. Added them on website and then user would email any shoe he liked •Zappos guy would buy the shoe from mall and deliver it to the user. •Sold to amazon. Have 1500+ employees.
- 18. ACCELERATING ENTREPRENEURSHIP IN MENA WWW.FLAT6LABS.COM VIRGIN AIRLINES •Virgin Air started in 1984 with a single Boeing 747 flying a single route (Gatwick to Newark and back). •As they got the Virgin magic working and debugged, they added more planes and more routes. •They are now one of the largest and most profitable airlines in the world.
- 19. ACCELERATING ENTREPRENEURSHIP IN MENA WWW.FLAT6LABS.COM FOURSQUARE •Foursquare used Google Docs to collect customer feedback on which cities they should launch in. https://spreadsheets.google.com/viewform?hl=en&formkey=ck14Z3lLTEJYRUNLNDllQ05wTklhYWc6MA
- 20. ACCELERATING ENTREPRENEURSHIP IN MENA WWW.FLAT6LABS.COM BONUS: TWITTER (TWTTR)
- 21. ACCELERATING ENTREPRENEURSHIP IN MENA WWW.FLAT6LABS.COM TOOLS TO BUILD MVP LANDER LAUNCHROCK PREFINERY QUALAROO QUOKKA UNBOUNCE
- 22. ACCELERATING ENTREPRENEURSHIP IN MENA WWW.FLAT6LABS.COM TOOLS TO BUILD MVP YOUTUBE VIDEO WORDPRESS BLOG FACEBOOK PAGE GOOGLE FORM WUFOO FORM SHOPIFY
- 23. ACCELERATING ENTREPRENEURSHIP IN MENA WWW.FLAT6LABS.COM VALIDATED LEARNING VALIDATED LEARNING IS THE PROCESS OF DEMONSTRATING THAT A TEAM HAS DISCOVERED VALUABLE TRUTHS ABOUT A STARTUP’S PRESENT AND FUTURE BUSINESS PROSPECTS.
- 24. ACCELERATING ENTREPRENEURSHIP IN MENA WWW.FLAT6LABS.COM DEFINE METRICS ACTIONABLE ACCESSIBLE AUDIBLE
- 25. ACCELERATING ENTREPRENEURSHIP IN MENA WWW.FLAT6LABS.COM PIVOT CHANGE DIRECTIONS BUT STAY GROUNDED IN WHAT YOU HAVE LEARNED
- 26. ACCELERATING ENTREPRENEURSHIP IN MENA WWW.FLAT6LABS.COM IMPORTANT QUESTIONS HOW DO WE KNOW WHEN TO PIVOT? VISION OR STRATEGY OR PRODUCT? WHAT TO MEASURE? HOW TO GROW? HOW TO GO FASTER? WHAT IS THE MVP? ARE WE CREATING VALUE?
- 27. ACCELERATING ENTREPRENEURSHIP IN MENA WWW.FLAT6LABS.COM PROBLEM List your top 3 problems. SOLUTION Outline a possible solution for each problem. UNIQUE VALUE PROPOSITION Single, clear and compelling message that turns an unaware user into an interested one UNFAIR ADVANTAGE Something that can’t be easily copied or bought. CUSTOMER SEGMENTS List your target customers/ users. KEY METRICS List key metrics to assess your businesses CHANNELS List your paths to customers. COST STRUCTURE List your fixed and variable customers. REVENUE STREAMS List your revenue streams. LEAN BUSINESS MODEL CANVAS 12 4 3 9 58 7 6
- 28. ACCELERATING ENTREPRENEURSHIP IN MENA WWW.FLAT6LABS.COM LEAN BUSINESS MODEL CANVAS 1.CUSTOMERSEGMENTS DropboxCustomerSegments 18-25 Mostly Male In San Francisco Mobile and working across multiple locations Geography Behaviour Psychography Demographic
- 29. ACCELERATING ENTREPRENEURSHIP IN MENA WWW.FLAT6LABS.COM LEAN BUSINESS MODEL CANVAS 2.PROBLEM Top3problems • Users are working across multiple devices in multiple locations •Difficult to keep track of all updates in one place •Version control is an issue
- 30. ACCELERATING ENTREPRENEURSHIP IN MENA WWW.FLAT6LABS.COM LEAN BUSINESS MODEL CANVAS 3.UNIQUEVALUEPROPOSITION Single,clearandcompellingmessagethat turnsanunawareuserintoaninterested one Haveallyourfilesinoneplaceregardlessof whereyouare,andwhatdeviceyouuse
- 31. ACCELERATING ENTREPRENEURSHIP IN MENA WWW.FLAT6LABS.COM LEAN BUSINESS MODEL CANVAS 4.SOLUTION Outline a possible solution for each problem •Cloud based filing system that automatically synchs files that you work on • Start working in one device, then save the file to the cloud and continue to work in another device •Multiple people can work on the same
- 32. ACCELERATING ENTREPRENEURSHIP IN MENA WWW.FLAT6LABS.COM LEAN BUSINESS MODEL CANVAS 5.CHANNELS Outline paths to the customer •Referrals from current users •Facebook / Social Media marketing •Corporate sponsorship
- 33. ACCELERATING ENTREPRENEURSHIP IN MENA WWW.FLAT6LABS.COM LEAN BUSINESS MODEL CANVAS 6.REVENUESTREAMS How you will make money •Tiered approach to different packages depending on storage capacity
- 34. ACCELERATING ENTREPRENEURSHIP IN MENA WWW.FLAT6LABS.COM LEAN BUSINESS MODEL CANVAS 7.COSTSTRUCTURE What you need to pay •Office operational costs: Salaries / Marketing / Sales •Storage capacity •Software development
- 35. ACCELERATING ENTREPRENEURSHIP IN MENA WWW.FLAT6LABS.COM LEAN BUSINESS MODEL CANVAS 8.METRICS If you don’t track it, you can’t control it! •User total storage •Last time synch •Number of users linking to account •Number of packages at each tier
- 36. ACCELERATING ENTREPRENEURSHIP IN MENA WWW.FLAT6LABS.COM LEAN BUSINESS MODEL CANVAS 9.UNFAIRADVANTAGE Something that can’t be easily copied or bought. •Ultra fast code •Only synch changes rather than entire file to reduce bandwidth usage •First mover advantage
- 37. ACCELERATING ENTREPRENEURSHIP IN MENA WWW.FLAT6LABS.COM PROBLEM List your top 3 problems. SOLUTION Outline a possible solution for each problem. UNIQUE VALUE PROPOSITION Single, clear and compelling message that turns an unaware user into an interested one UNFAIR ADVANTAGE Something that can’t be easily copied or bought. CUSTOMER SEGMENTS List your target customers/ users. KEY METRICS List key metrics to assess your businesses CHANNELS List your paths to customers. COST STRUCTURE List your fixed and variable customers. REVENUE STREAMS List your revenue streams. LEAN BUSINESS MODEL CANVAS 12 4 3 9 58 7 6
- 38. ACCELERATING ENTREPRENEURSHIP IN MENA WWW.FLAT6LABS.COM LEAN BUSINESS MODEL CANVAS
- 39. ENTREPRENEURSHIP THROUGH NATURAL SELECTION WWW.FLAT6LABS.COM WWW.FLAT6LABS.COM info@flat6labs.com Bin Suleiman Centre 1st Floor, Suite 106 Jeddah 21252 KSA +966920004322 jeddah@flat6labs.com www.flat6labsjeddah.com JEDCAI 1 Dr. Mohamed Sobhy st., Giza 2nd floor, Flat 6 Giza, Egypt +202 3568-5856 cairo@flat6labs.com www.flat6labscairo.com twofour54 Park Rotana Building, 5th Floor, Suite 501 Abu Dhabi, United Arab Emirates abudhabi@flat6labs.com www.flat6labsabudhabi.com AU 39