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YOTG Hamburg - Frank Wolfram - Fail fast, fail cheap, fail often

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A lot of game changing innovations in the last decade have come from young software entrepreneurs. They’ve built companies such as Google and Facebook, which within the span of 10 years are now amongst the top 10 most valuable businesses in the world. They have shown us how constant innovation creates radically successful businesses. As Frederick Winston Taylor in 1911 created a movement for scientific management which led to the success of businesses in the industrial age, the lean startup movement initiated by Eric Ries now leads the way into the second century of management. What can we learn from this movement? How can we be more innovative, stop wasting people’s time and be more successful?
Frank Wolfram @Geometry Global

Veröffentlicht in: Business
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YOTG Hamburg - Frank Wolfram - Fail fast, fail cheap, fail often

  1. 1. FAIL FAST, FAIL CHEAP, FAIL OFTEN What can we learn from the lean startup movement? Frank Wolfram, CTO EMEA Geometry Global
  2. 2. Management! is only ! 100 years old.
  3. 3. Make high quality products as efficient as possible.
  4. 4. What makes a company successful in the digital age?
  5. 5. THE DIGITAL AGE
  6. 6. Retail Music industry Hotels Taxis Disruptive innovation
  7. 7. BUT TODAY MOST COMPANIES ARE RUN TO MINIMIZE RISK,
  8. 8. A startup is a human institution designed to deliver a new product or service under conditions of extreme uncertainty. What is a startup?
  9. 9. of all mobile apps don’t earn any money. 90% 80% 4 out of 5 of all new products are failing. startups just burn their investors money.
  10. 10. identify the riskiest parts of your business plan, then finds ways to reduce those risks in a quick, iterative cycle of learning. Lean Startup
  11. 11. ViableMinimum Products The minimum viable product (MVP) The visionNo value Enough features to gather customer feedback The waste
  12. 12. THE PALM PILOT PRETOTYPE
  13. 13. MEASURE BUILDLEARN IDEAS CODEDATA Minimise the total time through the loop The build-measure learn feedback loop
  14. 14. The Lean Startup teaches us §  How to think big but start small in order to be less wasteful §  That failing fast can be a good thing §  That data beats opinions §  That the risk of failing can be managed by doing Summary
  15. 15. LET’S INNOVATE! frank.wolfram@geometry.com

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