1. Fredi Schmidli
Venezia - Marghera, May 28 2015
Come convincere un investitore svizzero
a rischiare i propri capitali su
una start-up italiana
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2. goo.gl/5ksERb
Find this presentation on slideshare
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3. Fredi Schmidli
• Economist and BA
• Management Teams in various functions and countries
• Entrepreneur
• Business Angel and Boardmember: www.startangels.ch
• Partner at pragmatic solutions
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4. Goal: To improve the success rate
Source: Ash Maurya «Running Lean»
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• 66% of successful products/companies significantly change
original business idea
• Develop product in half the time and at half the cost (GE)
• Reduce failure: “wrong” product and “premature” scaling
• Success comes not from a better idea, but from iterating
your original Plan A to a product, which customers will buy.
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5. In a startup it is unknown what the customer might find
valuable and even who he/she is. Value is generated by
learning these unknowns.
What is lean thinking?
Value is “providing benefit to the customer”, anything
else is waste.
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The Lean Startup Challenge
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6. Traditional versus Lean approach
Source: Ash Maurya: Running Lean
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7. Core Lean Principle
Genchi gembutsu
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8. Lean Innovation is …
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a company culture touching all aspects:
Values, Leadership, Organisation Chart, Incentives,
Empowerment, Accountability, …
not a collection of tools
A culture can not be copied easily
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9. Goal
Finding a business model, which is
• profitable
• repeatable
• scalable
or let the Startup die and start a new one
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10. Team and other important assets
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• Language capabilities
• Cross-functional team
• Serial entrepreneurs with intrinsic motivation
• Demolishing company bureaucracy is as important as
demolishing state bureaucracy.
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11. Lean Innovation Framework
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12. Goal: Problem Solution Fit => Value
Problem Solution Fit
You validated with MVP and
prospects that a specific solution will
solve a known problem to such a
degree that customer will buy it.
Brant Cooper
Value assumption – test whether a
product or service really delivers
value to specific customers once
using it.
Scale
Product
Market
fit
Problem
Solution
fit
Customer
Discovery
Customer
Validation
Customer
Creation
Is the identified problem real?
Will the target customer pay?
Can the problem be solved?
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13. The growth assumption – test how new customers will discover
a product or service. Through what engine will you acquire new
customers at affordable cost.
Goal: Product Market Fit => Growth
Product Market Fit
Customer is willing to pay.
Cost of acquiring new customers is
smaller than profit.
Evidence that market is large enough
Brant Cooper
Scale
Product
Market
fit
Problem
Solution
fit
Customer
Discovery
Customer
Validation
Customer
Creation
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14. Lean Canvas (by Ash Maurya / adapted from Osterwalder)
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guess
guess
guessguessguessguess
guessguess
guess
guessguessguess
guessguess
guessguess
guessguess
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15. Feedback loop
Design
experiment
Proposal, Pretotype,
Landing page, MVP …Results
Analyze results:
persevere, pivot
or quit?
weeks
not
years
Assumption/
Hypothesis
Run
experiment
Creativity
happens here
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Source: Eric Ries: The Lean Startup

16. Measure
Experiment Report
Why is it relevant?
Quantify your goals
set scope/timebox
Plan how to execute
experiment
Results = Data
Document the learning (validated,
invalidated or inconclusive)
Test value and growth hypothesis first
Move to next experiment
Build
Learn
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17. Lean Dash Board (Lean Stack)
FlowFlow
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18. Lean Innovation Investment Process
Source: Hans Däpp, StartAngels Network
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Assumption/Goal: Halving & Slicing of Angel Investments
FFFF
Business Canvas V12,
Problem Solution fit
& Product Market fit
& Dash Board
Results&
Bus.Canv.V
X
t
Milestone1
LeanInvestment
when?
Investment
today
Business
PlanV1.0
Effort
Manpower (%) 1 10 80
Elapsed time (month) 1 - 3 2 - 3 18 -…
Public BP
course
machine
still running
No/few public
Lean Innovation
Trainings
available
Lean Innovation
Training is part
of BA investment
(= risk insurance)
Goal:
On portfolio basis to
Get higher Success
Rate & less get funds
& more quits

19. Lean Innovation Framework
Scale
Product
Market
fit
Problem
Solution
fit
Customer
Discovery
Customer
Validation
Customer
Creation
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Each hypothesis is validated via an
experiment with BML feedback loop
Is problem worth solving, are people
willing to pay, is business model
profitable, repeatable and scalable
Hypotheses of plan A, …
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20. 20
Feedback Door
1. How likely is it that you would recommend this
presentation to a friend or colleague?
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Source: NetPromoter Score
2. What changes would I have to make for you to
give me one point more?
……………………………………………………………………………………………………………

21. The end
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22. agility accelerates ...
DIBATTITO
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23. Information & Coordinates
Link Slideshare
•
• https://leanstack.com/LeanCanvas.pdf
•
• www.startangels.ch
• fredi@pragmatic-solutions.ch
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