An overview on how The Lean Product Lifecycle can transform your business to simultaneously innovate and grow by taking on insights from Venture Capital, Private Equity, Budgeting, Agile, Lean, Lean Startup, Beyond Budgeting and more. Know how to take your idea and build a successful business.

1. LeanProductLifecycle.com @LeanPLCCraig Strong @craigstrong
Product
Innovation &
Business
Growth

2. Company Types
▪ Global Enterprises
▪ FTSE 100
▪ Private Companies
▪ Private Equity
▪ Venture Capital Backed - Startups
Domains
▪ Finance/Fintech
▪ Software
▪ New Media/Streaming
▪ Education
▪ Publishing
▪ Proptech
▪ IDV/AML
2
Craig Strong CTO & CPO
Roles & Focus
▪ Technology & Software
▪ Product
▪ Transformation
▪ Growth
▪ Innovation
Skills & Traits
▪ Annoying Curiosity
▪ Relentless Persistence
▪ Continuous Learner
▪ Problem Solver
▪ Tech Evangelist
▪ Explorer Of Interests
▪ *Finds Many Things Interesting
Craig Strong @craigstrong LeanProductLifecycle.com @LeanPLC

3. Challenge
1. ~90% Of Startups/Ideas Fail
2. Digital Disruption
3. Limited Time/Money To Learn
4. Corporate Governance
5. Innovation Is Survival
3
Craig Strong @craigstrong LeanProductLifecycle.com @LeanPLC

4. 4Jeremy Hope, 2003. Beyond Budgeting: How Managers Can Break Free from the Annual Performance Trap. Edition. Harvard Business Review Press.
Craig Strong @craigstrong LeanProductLifecycle.com @LeanPLC

5. 5
Larry Downes is co-author, with Paul Nunes, of Big Bang Disruption: Strategy in the Age of Devastating Innovation
Disruption Isn’t Gradual

6. The Lean Product Lifecycle
Non-Linear Adaptive Process For Product Innovation
Craig Strong @craigstrong LeanProductLifecycle.com @LeanPLC

7. 7
6 Lifecycle Stages
IDEA - During this stage, teams use
customer and market insights to generate
ideas.
EXPLORE - The main focus of Explore is
to test assumptions about customer needs,
problems and job-to-be-done.
VALIDATE - During this stage, team use
the insights from Explore to develop a
solution for customers, test aspects of our
business model including pricing, costs and
channels.
GROW - Now it’s time to take our
product to scale. The main focus
during Grow is on increasing customer
numbers, revenues and profits.
SUSTAIN (Cash Cow) - Focus
shifts to sustaining revenues and
profits, while optimising operations
and reducing costs.
.
RETIRE - Recycle capabilities and
technologies. Customers are not
inconvenienced by putting in place a
plan to mitigate negative effects on
customers.
Craig Strong @craigstrong LeanProductLifecycle.com @LeanPLC

8. 8
The Lean Product Lifecycle
Craig Strong @craigstrong LeanProductLifecycle.com @LeanPLC

9. 9
Products
≠
Business Models
Craig Strong @craigstrong LeanProductLifecycle.com @LeanPLC

10. 10
Craig Strong @craigstrong LeanProductLifecycle.com @LeanPLC
Thank You : Business Model Canvas: Osterwalder, Pigneur & al. 2010

11. 11
Spread Betting Ideas
Craig Strong @craigstrong LeanProductLifecycle.com @LeanPLC

12. 12
Craig Strong @craigstrong LeanProductLifecycle.com @LeanPLC
Pitching vs Managing

13. 13
Right
Questions
Right
Time
Craig Strong @craigstrong LeanProductLifecycle.com @LeanPLC

14. 14
Contextual
Adaptive
Management Over
Process
Conformity
Craig Strong @craigstrong LeanProductLifecycle.com @LeanPLC

15. Explore
15
Obtain evidence that your customers have a real need
or problem. You will now get out of the office and
speak to customers to test your assumptions.
1. Validate The Problem
2. Validate The Proposition
3. Market Opportunity
4. Preparing For Validate
Craig Strong @craigstrong LeanProductLifecycle.com @LeanPLC

16. Designing Experiments
16
1. Assumptions: Which specific assumptions are you testing? What are you trying to learn?
2. Experiments: How are you going to conduct the experiment? What exactly are you going to
do?
3. Cohort: People, businesses or customer segments that you are going to experiment on?
4. Success criteria: What would have to happen in your experiment for you to decide that
your assumptions are supported by the data?
5. Timebox:Set an upper limit for the time we want our experiment to run.
6. Results: At this point, we analyse and tally what we found?
7. Learnings: Now that we have tallied our data, what did we learn?
8. Decision: Do we want to pivot, persevere or stop?
Craig Strong @craigstrong LeanProductLifecycle.com @LeanPLC

17. Earlyvangelists
17
1. They have the problem or need we are trying
to solve
2. They are aware that they have the problem or
need they have been actively looking for a
solution
3. They have tried to put together a solution
4. They have a budget to pay for a solution

18. Customer Interviews
18
1. Choose your participants: Not just anyone!
2. Talk to experts: Accelerate learning and exploit knowledge
3. Use scripts: Before talking to customers, you need to be clear about what you learning goals
are
4. Go off track: Even with a script, customers can often unexpected insights. Allows the interview
to go off track every now and again.
5. Get connected: At the end of every interview, ask customers whether they know other people
facing similar challenges that they can introduce you to.
6. Capture data: During the interview you have to capture all the data and learning that you can.
7. Review immediately: At the end of every interview, review the notes you have taken.
Ask customers questions that if they asked their own mum she could lie to them!
Craig Strong @craigstrong LeanProductLifecycle.com @LeanPLC

19. 19
Venture Many Bets-Learn Fast
Craig Strong @craigstrong LeanProductLifecycle.com @LeanPLC

20. 20
Evolving Customer Profiles
Craig Strong @craigstrong LeanProductLifecycle.com @LeanPLC

21. 21
Mapping Products By Market
Craig Strong @craigstrong LeanProductLifecycle.com @LeanPLC

22. Thanks!
Any questions?
You can find me at
▪ @craigstrong
▪ http://www.linkedin.com/in/craigstron
g
▪ https://medium.com/@craigstrong
22
Craig Strong @craigstrong LeanProductLifecycle.com @LeanPLC