Startup Glossary - Exec I/O
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The document is a glossary and overview of essential concepts, methods, and risks associated with startups, underscoring the necessity for a unique management approach different from traditional corporate structures. It highlights key definitions, the importance of validating business models through experimentation, and the prevalence of failure among startups, attributing it to a lack of customer understanding and market fit. The document also emphasizes the role of tools such as the Business Model Canvas, Lean Startup methodology, and Design Thinking in navigating the challenges of starting a new venture.
Startup Glossary - Exec I/O
- 1. STARTUP GLOSSARY BEGRIFFE UND METHODEN AUS DER STARTUP-WELT Daniel Bartel Benjamin Bestmann Exec I/O | Düsseldorf | 02.12.2013
- 2. 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
- 3. 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
- 4. Startups = Experiments Problem (Market) = unknown Solution (Product) = unknown http://wallpaperscraft.com/image/pier_lake_descent_uncertainty_fog_60618_1920x1285.jpg Exec I/O | Düsseldorf | 02.12.2013 4
- 5. Innovation Spectrum Sustaining vs. Disruptive Innovation The Lean Entrepreneur, http://www.slideshare.net/slideshow/embed_code/ 16699289 Exec I/O | Düsseldorf | 02.12.2013 5
- 6. Search vs. Execute „Startups are not just smaller versions of big companies“ Source: h*p://steveblank.files.wordpress.com/2010/01/business-model1.jpg Exec I/O | Düsseldorf | 02.12.2013 6
- 7. 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
- 8. Efficiency vs. Effectivity Are you advancing a plan or are you making progress? http://impossibleobjects.com/catalogue/cleaning-sneakers.html Exec I/O | Düsseldorf | 02.12.2013 8
- 9. 90% OF ALL STARTUPS FAIL http://www.wnd.com/2012/02/bolton-u-s-running-up-the-white-flag-to-taliban/
- 10. According to Ash Maurya … 66% drastically change their original plans Exec I/O | Düsseldorf | 02.12.2013 10
- 11. 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
- 12. 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
- 13. The four stages of a Startup Product/Market-‐Fit Problem/Solu1on-‐Fit Search Exec I/O | Düsseldorf | 02.12.2013 Execution 13
- 14. The four stages of a Startup Exec I/O | Düsseldorf | 02.12.2013 14
- 15. 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
- 16. Alexander Osterwalder says: “Every Business Model has an Expiry-Date!” Exec I/O | Düsseldorf | 02.12.2013 16
- 17. Lean Startup Exec I/O | Düsseldorf | 02.12.2013 17
- 18. 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
- 19. 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
- 20. Build-Measure-Learn Scientific Feedback Loop Exec I/O | Düsseldorf | 02.12.2013 20
- 21. Define Hypotheses Exec I/O | Düsseldorf | 02.12.2013 21
- 22. Finding a Business Model The Business Model Canvas (Alexander Osterwalder) Exec I/O | Düsseldorf | 02.12.2013 22
- 23. “Business Model Stack” Exec I/O | Düsseldorf | 02.12.2013 23
- 24. Test Assumptions Exec I/O | Düsseldorf | 02.12.2013 24
- 25. Get out of the Building „There are no facts inside“ (Steve Blank) http://www.giantbomb.com/emergency-exit/3055-4475/ Exec I/O | Düsseldorf | 02.12.2013 25
- 26. Systematically Test your Model Exec I/O | Düsseldorf | 02.12.2013 26
- 27. Minimum Viable Product (MVP) The minimum feature set that enables learning Examples: • • • • • • Landing Pages Videos / Sketches Screenshots Paper Prototypes Mockups & Wireframes KickStarter http://leanheroes.com/what-is-a-minimum-viable-product-mvp/ Exec I/O | Düsseldorf | 02.12.2013 27
- 28. Pretotyping (Concierge Service) h*p://www.openideo.com/open/web-‐start-‐up/inspira1on/pretotype-‐building-‐the-‐right-‐it-‐vs.-‐building-‐it-‐right/ Exec I/O | Düsseldorf | 02.12.2013 28
- 29. Pretotyping (Concierge Service) h*p://www.openideo.com/open/web-‐start-‐up/inspira1on/pretotype-‐building-‐the-‐right-‐it-‐vs.-‐building-‐it-‐right/ Exec I/O | Düsseldorf | 02.12.2013 29
- 30. Make it count Innovation Accounting & Metrics Example: AARRR Framework by Dave McClure Exec I/O | Düsseldorf | 02.12.2013 30
- 31. Design Thinking Exec I/O | Düsseldorf | 02.12.2013 31
- 32. Non-linear Process Problem Solution POV Exec I/O | Düsseldorf | 02.12.2013 h*p://humani1eslab.stanford.edu/Bootcamp/Home 32
- 33. “64% of features and functions are rarely or never used.” *Source: Standish Group. Exec I/O | Düsseldorf | 02.12.2013 33
- 34. © HPI / D-School und andere empathize define test ideate prototype Exec I/O | Düsseldorf | 02.12.2013 34
- 35. Huge OutCOME! Exec I/O | Düsseldorf | 02.12.2013 35
- 36. Digg for needs, wishes & insights Exec I/O | Düsseldorf | 02.12.2013 36
- 37. Fragen? Fragen. BENJAMIN BESTMANN mail: bb@ifbi.eu mobil: @BenBestmann web: ifbi.eu DANIEL BARTEL mail: db@ifbi.eu twitter: @danbar87 web: ifbi.eu
- 38. 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
- 39. prototype: fail early and often h*p://www.pdfpedia.com/download/12464/lecture-‐9-‐prototyping-‐ pdf.html Exec I/O | Düsseldorf | 02.12.2013 39
- 40. Traditional Development Exec I/O | Düsseldorf | 02.12.2013 40