Lean Startup Introduction
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The document introduces the Lean Startup approach to entrepreneurship founded by Eric Ries. It is based on lean manufacturing principles of building products, measuring customer feedback, and learning quickly through iterative changes. The Lean Startup methodology advocates developing a Minimum Viable Product to test hypotheses and validate learning, rather than relying on comprehensive business plans. It emphasizes rapid iteration through a feedback loop of building, measuring, and learning from customer data.
Lean Startup Introduction
- 1. Introduction: The Lean Startup* Approach to Entrepreneurship * The “Lean Startup” is a concept founded by Eric Ries.
- 2. While Management Science Has Come a Long Way Over The Past Century… 2 @KenGloberman
- 3. …We’re Currently in the Midst of a Startup Revolution 3 @KenGloberman
- 4. Does Traditional Planning Methodology Apply to Today’s Startup Eco-system? 4 Comprehensive Business Plan @KenGloberman Detailed Strategy Thorough Market Research
- 5. In 2011, Along Came a New Approach To Managing Startups 5 @KenGloberman
- 6. “Lean Startup” is grounded in the principals of “lean manufacturing”, or “lean production”, first adopted at Japan’s Toyota (Toyota’s Production System) 6 @KenGloberman
- 7. The 5 Principles of Lean Startup 7 1. Entrepreneurs are everywhere 2. Entrepreneurship is management @KenGloberman 3. Validated learning 4. Build – Measure – Learn 5. Innovation accounting Source: The Lean Startup, Eric Ries, 2011
- 8. The Foundation of Lean Startup 8 PRODUCT STRATEGY VISION Source: The Lean Startup, Eric Ries, 2011 @KenGloberman
- 9. Why Most Startups Fail (Just one man’s opinion) 9 Inability to manage through uncertainty, usually requiring a comfort level with adaptation and change. @KenGloberman
- 10. The Foundation of Lean Startup 10 PRODUCT STRATEGY VISION @KenGloberman CHANGE Optimize Pivot (or persevere) Source: The Lean Startup, Eric Ries, 2011
- 11. The Lean Startup Feedback Loop 11 MEASURE @KenGloberman BUILD PRODUCT LEARN DATA Source: The Lean Startup, Eric Ries, 2011 IDEAS Increase iteration frequency and minimize total time through the loop
- 12. A Minimum Viable Product (MVP) enables you to go to market with a “light” offering (experiment) you believe solves a customer problem, and learn as quickly as possible 12 MINIMUM VIABLE @KenGloberman Products you want to build Crappy Products nobody wants Good features to test user response PRODUCTS
- 13. 13 @KenGloberman An MVP is NOT… • A “valueless” offering • A shitty product • An offering that does not work • A free trial • An offering that cannot be measured • A poor quality service • An experiment lacking discipline • Something your customers surely won’t want to pay for 13
- 14. Challenge: Can You Apply the Lean Startup Philosophy to Your Startup? 14 PRODUCT STRATEGY VISION Source: The Lean Startup, Eric Ries, 2011 @KenGloberman
- 15. Continue The Discussion By Contacting Me Ken Globerman Twitter: @KenGloberman Email: Ken.Globerman@GlobalGroupVentures.com LinkedIn: http://www.linkedin.com/in/kengloberman
- 16. 16 Ken Globerman is an investment professional, independent consultant and educator specializing in corporate finance, business development and private equity issues. He splits his time between New York, NY and Warsaw, Poland, where he founded Global Group Ventures to help bridge economic development between the United States and Central Europe. Ken also lectures at Warsaw School of Economics in business valuation, conducts workshops in finance and leadership and is a frequent speaker at programs supporting entrepreneurship and innovation around Europe. He has been published in the Warsaw Business Journal and American Investor as a featured expert in business and finance. Previously, Ken worked for New York-based private equity firm Knox Lawrence International, LLC and WPP’s media subsidiary MEC (formerly Young & Rubicam) where he managed research and planning projects for Fortune 500 clients. Ken holds an MBA in Finance & Entrepreneurship from New York University’s Stern School of Business, where he served as Equity Valuation Teaching Assistant to Professor Aswath Damodaran, and Bachelor of Science in Applied Mathematics from Carnegie Mellon University. @KenGloberman About The Author