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The Lean Startup,[object Object],#leanstartup,[object Object],Eric Ries (@ericries),[object Object],http://StartupLessonsLearned.com,[object Object]
2011 10 12 eric ries lean startup web 2.0 expo ny keynote
Lean Startup Principles,[object Object],Entrepreneurs are everywhere,[object Object],Entrepreneurship is management,[object Object],Validated Learning,[object Object],Build – Measure - Learn,[object Object],Innovation Accounting,[object Object]
Lean Startup Principles,[object Object],Entrepreneurs are everywhere,[object Object]
What is a startup?,[object Object],[object Object]
Nothing to do with size of company, sector of the economy, or industry,[object Object]
Lean Startup Principles,[object Object],Entrepreneurs are everywhere,[object Object],Entrepreneurship is management,[object Object]
Who to Blame,[object Object],[object Object],Study work to find the best way,[object Object],Management by exception,[object Object],Standardize work into tasks,[object Object],Compensate workers based on performance,[object Object],“In the past, the man was first. In the future, the system will be first.” (1911),[object Object],Frederick Winslow Taylor,[object Object],(1856 – 1915),[object Object]
Entrepreneurship is management,[object Object],[object Object]
Traditional management practices fail- “general management” as taught to MBAs,[object Object],[object Object]
Not just for “two guys in a garage”,[object Object]
I’,[object Object]
The Pivot,[object Object],[object Object]
They started out as digital cash for PDAs, but evolved into online payments for eBay.
They started building BASIC interpreters, but evolved into the world's largest operating systems monopoly.
They were shocked to discover their online games company was actually a photo-sharing site.
Pivot: change directions but stay grounded in what we’ve learned. ,[object Object]
Lean Startup Principles,[object Object],Entrepreneurs are everywhere,[object Object],Entrepreneurship is management,[object Object],Validated Learning,[object Object]
Achieving Failure,[object Object],[object Object],On time?,[object Object],On budget?,[object Object],With high quality?,[object Object],[object Object],[object Object]
STOPWASTINGPEOPLE’STIME,[object Object]
Lean Startup Principles,[object Object],Entrepreneurs are everywhere,[object Object],Entrepreneurship is management,[object Object],Validated Learning,[object Object],Build – Measure - Learn,[object Object]
Minimize TOTAL time through the loop,[object Object]
There’s much more…,[object Object],Build Faster,[object Object],Unit Tests,[object Object],Usability Tests,[object Object],Continuous Integration,[object Object],Incremental Deployment,[object Object],Free & Open-Source,[object Object],Cloud Computing,[object Object],Cluster Immune System,[object Object],Just-in-time Scalability,[object Object],Refactoring,[object Object],Developer Sandbox,[object Object],Minimum Viable Product,[object Object],Learn Faster,[object Object],Split Tests,[object Object],Customer Development,[object Object],Five Whys,[object Object],Customer Advisory Board,[object Object],Falsifiable Hypotheses,[object Object],Product Owner,[object Object],Accountability,[object Object],Customer Archetypes,[object Object],Cross-functional Teams,[object Object],Semi-autonomous Teams,[object Object],Smoke Tests,[object Object],Measure Faster,[object Object],Funnel Analysis,[object Object],Cohort Analysis,[object Object],Net Promoter Score,[object Object],Search Engine Marketing,[object Object],Predictive Monitoring,[object Object],Measure Faster,[object Object],Split Tests,[object Object],Continuous Deployment,[object Object],Usability Tests,[object Object],Real-time Monitoring & Alerting,[object Object],Customer Liaison,[object Object]
Lean Startup Principles,[object Object],Entrepreneurs are everywhere,[object Object],Entrepreneurship is management,[object Object],Validated Learning,[object Object],Build – Measure - Learn,[object Object],Innovation Accounting,[object Object]
Innovation AccountingThe Three Learning Milestones,[object Object],Establish the baseline,[object Object],[object Object]
Measure how customers behave right nowTune the engine,[object Object],- Experiment to see if we can improve metrics from the baseline towards the ideal,[object Object],Pivot or persevere,[object Object],- When experiments reach diminishing returns, it’s time to pivot. ,[object Object]
Lean Startup Principles,[object Object],Entrepreneurs are everywhere,[object Object],Entrepreneurship is management,[object Object],Validated Learning,[object Object],Build – Measure - Learn,[object Object],Innovation Accounting,[object Object]
Questions,[object Object],How do we know when to pivot?,[object Object],Vision or Strategy or Product?,[object Object],What should we measure?,[object Object],How do products grow?,[object Object],Are we creating value?,[object Object],What’s in the MVP?,[object Object],Can we go faster?,[object Object]
http://theleanstartup.com/book,[object Object]
Thanks!,[object Object],[object Object]
Startup Lessons Learned Blog
http://StartupLessonsLearned.com
Getting in touch (#leanstartup)
http://twitter.com/ericries
eric@theleanstartup.com,[object Object]
Myth #1,[object Object],Myth,[object Object],Lean means cheap. Lean startups try to spend as little money as possible.,[object Object],Truth The Lean Startup method is not about cost, it is about speed. ,[object Object]
Myth #2,[object Object],Myth,[object Object],The Lean Startup is only for Web 2.0/internet/consumer software companies.,[object Object],Truth The Lean Startup applies to all companies that face uncertainty about what customers will want. ,[object Object]
Myth #3,[object Object],Myth,[object Object],Lean Startups are small bootstrapped startups.,[object Object],Truth Lean Startups are ambitious and are able,[object Object], to deploy large amounts of capital. ,[object Object]
Myth #4,[object Object],Myth,[object Object],Lean Startups replace vision with dataor customer feedback.,[object Object],Truth Lean Startups are driven by a compelling vision, and are rigorous about testing each element of this vision,[object Object]
Lean Startup Principles,[object Object],Entrepreneurs are everywhere,[object Object],Entrepreneurship is management,[object Object],Validated Learning,[object Object],Build – Measure - Learn,[object Object],Innovation Accounting,[object Object]
Minimum Viable Product,[object Object],[object Object]
Allows us to achieve a big vision in small increments without going in circles
Requires a commitment to iteration
MVP is only for BIG VISION products; unnecessary for minimal products.,[object Object]
Continuous Deployment Principles,[object Object],Have every problem once,[object Object],Stop the line when anything fails,[object Object],Fast response over prevention,[object Object]
Continuous Deployment,[object Object],[object Object]
At IMVU time from check-in to production = 20 minutes
Tell a good change from a bad change (quickly)
Revert a bad change quickly
And “shut down the line”
Work in small batches
At IMVU, a large batch = 3 days worth of work
Break large projects down into small batches,[object Object]
Everyone has a complete sandbox
Continuous Integration Server (BuildBot)
All tests must pass or “shut down the line”
Automatic feedback if the team is going too fast

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2011 10 12 eric ries lean startup web 2.0 expo ny keynote

Editor's Notes

  1. I’m not leaving you, I’m pivoting to another man
  2. Conference structure
  3. Truth: The Lean Startup method is not about cost, it is about speed. Lean Startups waste less money, because they use a disciplined approach to testing new products and ideas. Lean, when used in the context of lean startup, refers to a process of building companies and products using lean manufacturing principles applied to innovation. That process involves rapid hypothesis testing, validated learning about customers, and a disciplined approach to product development.
  4. Truth: The Lean Startup methodology applies to all companies that face uncertainty about what customers will want. This is true regardless of industry or even scale of company: many large companies depend on their ability to create disruptive innovation. Those general managers are entrepreneurs, too. And they can benefit from the speed and discipline of starting with a minimum viable product and then learning and iterating continuously.
  5. Truth: There’s nothing wrong with raising venture capital. Many lean startups are ambitious and are able to deploy large amounts of capital. What differentiates them is their disciplined approach to determining when to spend money: after the fundamental elements of the business model have been empirically validated. Because lean startups focus on validating their riskiest assumptions first, they sometimes charge money for their product from day one – but not always.
  6. Truth: Lean Startups are driven by a compelling vision, and they are rigorous about testing each element of this vision against reality. They use customer development, split-testing, and actionable analytics as vehicles for learning about how to make their vision successful. But they do not blindly do what customers tell them, nor do they mechanically attempt to optimize numbers. Along the way, they pivot away from the elements of the vision that are delusional and double-down on the elements that show promise.
  7. I’m not leaving you, I’m pivoting to another man