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GOING LEAN
LAB75 02.01.15
BUSINESS
WHAT IS BUSINESS?
The fine art of separating people from their money.
WHEN IS THIS POSSIBLE?
Add enjoyment
remove pain
HOW IS IT POSSIBLE?
Product Service
BUSINESS MATRIX
Product Service
Pai
n Jo
y
PRICING CHALLENGE
Is it worth paying?
>
PLAN
HOW TO PLAN?
Repetition.
HOW TO PLAN?
Experience.
THE CHALLENGE
How to plan the unkown?
WHAT IS A PLAN?
An ansumption about the future.
HOW TO SEE IT
An expedition with many ways.
SETTING
BUSINESS MODELS
VS
startup cooperate
WHAT IS A STARTUP?
„A startup is a human institution designed to deliver a new product or service under conditions of extreme uncertainty and has nothing to do with size of company, sector of the economy or industry.“
BUSINESS MODELS
VS
startup cooperation
10% KNOWN
90% UNKNOWN
10% UNKNOWN
90% KNOWN
=
startup experiments
Most experiments fail.
Scale
Optimize
Economics
Promise
Product / Market Fit
„The real reason most startups fail
is that the fail to build something
that people
actually want
to use and
pay for.“ DANGER ZONE
FAIL OFTEN. FAIL FAST.
LEARN SOMETHING.
Entrepreneurship = Management
EXECUTION
WATERFALL
problem known solution known
REQUIREMENTS
DESIGN
IMPLEMENTATION
VERIFICATION
MAINTENANCE
AGILE
problem known solution unknown
PRODUCT OWNER ITERATIONS
LEAN
problem unknown solution unknown
ITERATIONS
CUSTOMER DEV. Data, Feedback, Insights
Hypotheses, Experiments, Insights
LEAN STARTUP
„Lean Startup is a systematic process for iterating from Plan A to a plan that works before running out of resources.“
• WE ELIMINATE UNCERTAINTY • WE WORK SMARTER, NOT HARDER • WE CREATE ORDER
WORKFLOW
EXPERIENCE
IDEAS
DATA
DESIGN
MEASURE
LEARN
LEAN START
THE PRODUCT IS NOT THE PRODUCT.
TO DO LIST
SCOPE I) Problem/Solution Fit
„Do I have a problem worth solving“
II) Early Traction
„Have I built something people want?“
III) Product/Market Fit
„How do I scale?“
PROBLEM/SOLUTION FIT 1) Document your plan A
business model canvas
2) Formulate an implementation
product > strategy > vision
3) Invite early adopters
MVP (Minimum viable product = the smallest solution that delivers customer value)
MINIMUM VIABLE PRODUCT
MVP = the smallest solution that delivers customer value
MVP FINAL PRODUCT
EARLY TRACTION 4) Measure progress
AARRR!
5) Deliver value before growth
Unique value proposition
6) Qualitative learning
A/B testing, interviews, ...
AARRR!
ACQUISITION
ACTIVATION
RETENTION
REVENUE
REFERRAL
How do users find you?
Do users have a great first experience?
Do users come back?
How do you make money?
Du users tell others?
UNIQUE VALUE PROPOSITION
• For (target customers) • Who are dissatisfied with (the current alternative)
• Our product is a (new product)
• That provides (key problem-solving capability) • Unlike (the product alternative).
PRODUCT/MARKET FIT 7) Identify growth engine
Paid, organic & viral sources
8) Measure everything as a cohort e.g. average revenue per customer over time
9) Build feedback loops
e.g. user support
10) Insights are usually hidden within failed experiments.
BACKUP
RESOURCES • blog.strategyzer.com
• practicetrumpstheory.com
• leananalyticsbook.com
ABOUT US Founded in 1999, LAB75 Design GmbH is running three design and innovation hubs in Frankfurt, Berlin and Zürich by today. The workforce around Marco Bahn and Wolfgang Weicht consists of an international multidisciplinary team covering all aspects of an integrated industrial design process.
A variety of long term partnerships with collaborating design and software engineering studios as well as mechanical engineers and production facilities for real world products complete our external network and reflect our focus on rapidly evolving goods and environments.
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