draft deck for local presentation

1. LEAN Startups: a primer Learn Entrepreneurial Agility Now!

2. the “Lean” movement … just a few key names: Eric Ries Steve Blank Dave McClure and other cool cats …BUT… Is this really that new? Isn’t this what smart entrepreneurs ALREADY do? How smart entrepreneurs ALREADY think?

3. A few quick thoughts… “Lean” doesn’t mean cheap.. It means FAST “Lean” could just as easily be called “Learn”! WHEN to be Lean? Extreme uncertainty Significant ambiguity (Type III errors) Startups – scalable startups Social / Sustainable / BOTP New Product Development / Tech Transfer

4. What is a “Startup”..really? A startup is simply the vehicle for figuring out a sustainable, repeatable, scalablebusiness model This is no time for a business plan… takes very different planning (and thinking) Finding your Scalable Business Model: Test each critical assumption in your model Measure (qual & quant) ruthlessly “Pivot” quickly Iterate

5. Minimize TOTAL time through the loop IDEAS LEARN BUILD DATA CODE MEASURE Source: Eric Ries, The Lean Startup

6. “Failing fast” is also a misnomer – “fail FORWARD” which means… Better your assumptions fail… than your biz Forces attention on Value (benefits>>features) Build  Test/Measure  Learn (L,R,R)

7. What’s a Business Model? Three key questions to answer – identify all key assumptions for each: 1) Value Proposition 2) Value Delivery 3) Value Capture

8. The Process from Steve Blank: The search (SBM) we can call “Customer Development” Implementing SBM = “Agile Development”

9. Build  Measure  Learn BUILD: Identify & Test Minimum Feature Set Minimum Viable Product (MVP) MEASURE: Find out what customers love… and especially hate(Kathy Sierra vs Dave McClure) LISTEN! (to your metrics & your customers) LEARN: Pivot quickly & decisively

10. Implications for us? “Lean” epitomizes entrepreneurial mindset [VERY different, BT: Assume & embrace uncertainty & ambiguity!] Applies to any high-uncertainty/ambiguity situation Social ventures, tech transfer, NPD Mindset focuses on: Benefits, not features… (not ‘inventors syndrome’) Value proposition & value delivery co-evolve Customer, et al. as true partner Iterative, Co-Evolving Process Not exactly a stage-gate (eg, early Goldsmith) WAIT! (expert mentoring)

11. More implications… New insights into expert entrepreneurial mindset neededby mentors, ecosytem Experiential = Essential (>>hands-on) Incubating   Immersion Startup Weekend Nebula Shift model Counseling   Mentoring TechStars, Accelerators Celebrate & Educate! (TechBoise, ESTech, ITC)

12. for more info… The Gurus: Eric Ries (@ericries, www.startuplessonslearned.com) Steve Blank (@sgblank, www.steveblank.com) www.sllconf.com Local Lean Fanatics, er, Aficionados, well…Fanatics: Kevin Donaldson (@kevnd, kdonaldson@balihoo.com ) Norris Krueger (@entrep_thinking, norris.krueger@gmail.com) Jason Christensen (@jasonc411) Eric Shaver (@ericshaver)