Connecting Strategy to Execution, Jonathan Bertfield, Senior Faculty, Lean Startup Co.
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If you don't have a strategy in place for deploying Lean Startup, you'll end up with siloed efforts that fail to shift the organizational culture or capacity for experimentation. In this session, Jonathan Bertfield will unpack the connection between strategy, experimentation, and execution using core tools from the Lean Startup method. Attendees will unpack your business’ strategic hypothesis and use that as the starting point for defining an experimentation road map.
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Connecting Strategy to Execution, Jonathan Bertfield, Senior Faculty, Lean Startup Co.
- 1. LEAN STARTUP BRIDGING STRATEGY & TACTICS JONATHAN BERTFIELD SNR FACULTY LEAN STARTUP CO jonathan@leanstartup.co @berters @leanstartup
- 2. JONATHANBERTFIELD 20+ YEARS EXPERIENCE DRIVING GROWTH, INNOVATION AND PRODUCT DEVELOPMENT AT ENTERPRISES AND STARTUPS US DEPT. OF DEFENSE, MERCK, MICROSOFT, LEGAL ZOOM, AXA, USAA, PEARSON, AMERICAN PRESS INSTITUTE, SCHOLASTIC, SESAME WORKSHOP, ASSOCIATED PRESS, NEWS CORP., BUSINESS INSIDER @BERTERS @LEANSTARTUP LEAN STARTUP CO - SENIOR FACULTY SPINNAKER CONSULTING - PARTNER GENERAL ASSEMBLY - ENTERPRISE INSTRUCTOR
- 3. this is what i do
- 13. HIRING ELON IS NOT THE ANSWER
- 14. NO CRYSTAL BALL
- 16. A METHOD TO SYSTEMATICALLY ADDRESS UNCERTAINTY THROUGH RAPID ITERATION AND MARKET LEARNING LEAN STARTUP IS MANAGEMENT
- 28. A METHOD TO SYSTEMATICALLY ADDRESS UNCERTAINTY THROUGH RAPID ITERATION AND MARKET LEARNING LEAN STARTUP IS MANAGEMENT
- 29. STRATEGY(FROM GREEK ΣΤΡΑΤΗΓΊΑ STRATĒGIA, "ART OF TROOP LEADER; OFFICE OF GENERAL, COMMAND, GENERALSHIP") IS A HIGH LEVEL PLAN TO ACHIEVE ONE OR MORE GOALS UNDER CONDITIONS OF UNCERTAINTY.
- 30. CORPORATE STRATEGY Consolidate holdings to focus on education Build a Smoke-free world Meet global digital threats head on
- 31. PORTFOLIO STRATEGY Divest 50% of non Education holdings over 2yr period 70% of net new revenue from transformation / Horizon 3
- 32. PRODUCT STRATEGY Capacity to handle language needs in EMEA markets
- 34. LIKELIHOOD OF OUTCOMES & IMPACT = SPEED OF LEARNING X QUALITY OF LEARNING
- 35. TOOLKIT The Business Model Canvas designed by: Strategyzer AG The makers of Business Model Generation and Strategyzer This work is licensed under the Creative Commons Attribution-Share Alike 3.0 Unported License. To view a copy of this license, visit: http://creativecommons.org/licenses/by-sa/3.0/ or send a letter to Creative Commons, 171 Second Street, Suite 300, San Francisco, California, 94105, USA. strategyzer.com Revenue Streams Customer SegmentsValue PropositionsKey ActivitiesKey Partners Cost Structure Customer Relationships Designed by: Date: Version:Designed for: ChannelsKey Resources CANVASES ASSUMPTIONS EXPERIMENT HYPOTHESIS MVP We believe that customers will want more of our awesome widgets if interaction with tech STRATEGIC HYPOTHESIS We believe that we can reduce our call volume…
- 36. TOOLKIT The Business Model Canvas designed by: Strategyzer AG The makers of Business Model Generation and Strategyzer This work is licensed under the Creative Commons Attribution-Share Alike 3.0 Unported License. To view a copy of this license, visit: http://creativecommons.org/licenses/by-sa/3.0/ or send a letter to Creative Commons, 171 Second Street, Suite 300, San Francisco, California, 94105, USA. strategyzer.com Revenue Streams Customer SegmentsValue PropositionsKey ActivitiesKey Partners Cost Structure Customer Relationships Designed by: Date: Version:Designed for: ChannelsKey Resources EXPOSE UNCERTAINTY PRIORITIZE UNCERTAINTY MANAGE UNCERTAINTY FRAME UNCERTAINTY We believe that customers will want more of our awesome widgets if interaction with tech We believe that we can reduce our call volume…
- 37. BUSINESS MODEL CANVAS The Business Model Canvas designed by: Strategyzer AG The makers of Business Model Generation and Strategyzer This work is licensed under the Creative Commons Attribution-Share Alike 3.0 Unported License. To view a copy of this license, visit: http://creativecommons.org/licenses/by-sa/3.0/ or send a letter to Creative Commons, 171 Second Street, Suite 300, San Francisco, California, 94105, USA. strategyzer.com Revenue Streams Customer SegmentsValue PropositionsKey ActivitiesKey Partners Cost Structure Customer Relationships Designed by: Date: Version:Designed for: ChannelsKey Resources
- 38. BUSINESS MODEL CANVAS - UBER The Business Model Canvas designed by: Strategyzer AG This work is licensed under the Creative Commons Attribution-Share Alike 3.0 Unported License. To view a copy of this license, visit: http://creativecommons.org/licenses/by-sa/3.0/ or send a letter to Creative Commons, 171 Second Street, Suite 300, San Francisco, California, 94105, USA. Revenue Streams Customer SegmentsValue PropositionsKey ActivitiesKey Partners Cost Structure Customer Relationships Designed by: Date: Version:Designed for: ChannelsKey Resources Fast access to cheap rides Social media Temp non driving Urban Car owners Car owners who need additional $ Flexible/Part time schedule AutomatedDev Teams Customer Acquisition Tech platform Drivers Map providers Investors Traffic Acquisition Tech infrastructure S&M, G&A Urban Non-Car owners Mobile App - P Mobile App - D Ratings per mile rides Surge pricing Pool, X, Black Customer Support Drivers w. cars Leasing Co’s
- 40. CRITICAL ASSUMPTIONS WHAT ARE THE GUESSES YOU HAVE MADE THAT, IF PROVEN WRONG, WILL UNDERMINE YOUR VISION?
- 41. ASSUMPTIONS
- 42. ‣ KNOWN VS UNKNOWN ‣ HIGH RISK VS LOW RISK ‣ KILL VS NOT KILL LEAP OF FAITH
- 43. CRITICAL ASSUMPTIONS (Run experiments) (dig deeper) HIGH RISK LOW RISK UNKNOWNKNOWN
- 44. STAY IN THE LOOP
- 45. MINIMAL VIABLE PRODUCT HOW - METHOD EXPERIMENTSTOCOLLECTTHE MAXIMUMVALIDATEDLEARNING FROMCUSTOMERSWITHTHE LEASTAMOUNTOFDEVELOPMENT M V P
- 46. HOW - METHOD
- 49. HY-POTH-E-SIS A SUPPOSITION OR PROPOSED EXPLANATION MADE ON THE BASIS OF LIMITED EVIDENCE AS A STARTING POINT FOR FURTHER INVESTIGATION.
- 50. STATEMENT OF OUR BELIEF + PREDICTION OF A RESULT
- 51. EXPERIMENT HYPOTHESIS ▸We believe that… ▸[doing this] ▸for [these people] ▸will [achieve this outcome]. ▸We will know this is true when ▸we see [experiment outcome] ▸by [specific timeframe]
- 52. ▸We believe that… ▸seeding a small network of drivers ▸for a single neighborhood in New York ▸will make it easier to grab a taxi at peak time ▸We will know this is true when ▸we see 20 drivers with 20 rides/day ▸by 1 month from now EXPERIMENT HYPOTHESIS
- 53. ▸We believe that… ▸building an app to hail taxis ▸for urban professionals ▸will massively disrupt public transportation ▸We will know this is true when ▸we see drivers signing up ▸by 2 years from now STRATEGIC HYPOTHESIS
- 54. ‣ WRITE A 1-2 SENTENCE STATEMENT OF YOUR PRODUCT STRATEGY ‣ WE BELIEVE THAT….. FRAME YOUR UNCERTAINTY
- 55. ‣ IDENTIFY THE TOP 3 ASSUMPTIONS BUILT INTO YOUR VISION ‣ WE BELIEVE THAT….. PRIORITIZE UNCERTAINTY
- 56. ‣ GRADE YOUR TOP 3 ASSUMPTIONS ON THEIR ALIGNMENT TO PRODUCT STRATEGY PRIORITIZE UNCERTAINTY
- 57. HYPOTHESIS ▸ We believe that… ▸ [doing this] ▸ for [these people] ▸ will [achieve this outcome]. ▸ We will know this is true when ▸ we see [business outcome] ▸ by [specific timeframe] CREATE YOUR STRATEGIC HYPOTHESIS FOR THE PROJECT YOU ARE WORKING ON
- 58. HYPOTHESIS ▸ We believe that… ▸ [doing this] ▸ for [these people] ▸ will [achieve this outcome]. ▸ We will know this is true when ▸ we see [business outcome] ▸ by [specific timeframe] CREATE UP TO 3 EXPERIMENT HYPOTHESES THAT RELATE TO YOUR STRATEGIC HYPOTHESIS
- 59. LIKELIHOOD OF OUTCOMES & IMPACT = SPEED OF LEARNING X QUALITY OF LEARNING