Get into the lean machine

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In this presentation we show the mistakes we made with our startup Plesents and what great insights it gave us. It also provides our Lean Startup Battle plan

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Getting lean

Thursday, November 15, 12

Who are we?

Steven

Ban all lame gifts, world wide

Renske

Herman

Johan

Thursday, November 15, 12

What do we want?

Thursday, November 15, 12

How?

Thursday, November 15, 12

Built a lot (120.000 minutes), based on guts, own itch, knowledge of webdesign, some user feedback

The classic mistakes

Long release time (First release toke about 5 months, after that mostly batches of a month)

Running around (product development, business plan competitions, investors, PR, launching partners, HR)

Thursday, November 15, 12

Not enough paying customers

Result

Part of Inqubator Leeuwarden

Not enough revenue

Not enough visitors

Press attention

New friends

Bigger comfort zone

Life lessons Network

Lots of fun

Experience

Thursday, November 15, 12

Hold the horses! Get into the Lean Machine!

Fail fast, succeed faster!

Thursday, November 15, 12

The essence of Lean Startup

Before you really start investing (quit your job, using up your savings, talk to investors etc), first PROVE:

1.That you are solving a REAL problem2.That you have identified a REAL early adopters group3.That they are willing to PAY for a solution;4.That you have a SCALABLE business model

Thursday, November 15, 12

StrategyLearn as fast as possible

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Right, the Bell Curve

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All development on hold

Validate most important assumptions

This means

Thursday, November 15, 12

We ASSumted

Enough people want to use an online platform, that helps them to organise a group gift easily

They will pay a fee

Our gift does not fit your door

Thursday, November 15, 12

Back into the future

Can we find enough early adopters

So we can use as much of our current solution

Thursday, November 15, 12

Experiments 1 2 3 4 5 6 7

Method Interview Interview Interview/e-mailing Interview Interview Smoke test MVP

Target Customer

All Facebook- users

To be weds/ newly parents/ collegues Students

Women 20-30 years old

Men 20-30 years old

People visiting a gift product on

webshop

People using mobile to look for

gifts

Riskiest assumption

Organising a group gift gives need to solve-problems

Organising a group gift gives need to solve-problems

Organising a group gift gives need to solve-problems

Want gift advice Want gift advice Will hit the buy together button

People want to use mobile to look

for gifts

Minimum succes criteria

30% (n=15) rates alternatives as

really annoying

30% (n=15) rates alternatives as

really annoying

1 high traffic shop that wants to test.

10% (n=100) additional clicks

1000 downloads and 20 reviews in

1 month

Result Validated 45/50 Invalidated