12. david DOT jones AT gmail DOT com | skype://djinoz | Cell:+61 412 683 111 | @djinozdavid DOT jones AT gmail DOT com | skype://djinoz | Cell:+61 412 683 111 | @djinoz
Focus or Fail
In Australia you have limited resources and cash reserves
then focus is your most valuable discipline
if your hypothesis is wrong at least you “fail fast”
(picture credit: Mick Liubinskas/Pollenizer)
Don’t let
Perfect be the
Enemy of the
Good
13. Get to the Core!
DON’T GET HYPOTHESIS BACKLOG
!
The mistake we all make is to generate product ideas without proving
they are so valuable that your customer “must have it”.
!
Have a look at Lean Canvas:
- Method is to break out biggest risk hypothesis
- Test first to prove/disprove
15. Validation Tip of the Day:
Look them deep in the eyes and ask for money
16. Lesson 6:Talk to the right people
Looking for 10x differentiation (paid or land grab)
17. Delusion: Picking the wrong metrics
speed though the loop before you run out of money and patience.
18. Gut-Data-Gut
When you don’t have a large enough sample size.
Sukinder Singh Cassidy!http://ecorner.stanford.edu/authorMaterialInfo.html?mid=2900!
How many respondents are required for a good lean startup
product-market-fit survey?!http://www.quora.com/How-many-respondents-are-required-for-a-good-lean-startup-product-market-fit-survey
19. Product vs Sales Matrix
Calibrate the company to the product sales needs
!
Product needs selling, strong sales
piece. This is a sales-driven
company.
!
Product sells itself, strong sales piece.
This is ideal.
!
Product sells itself, no sales effort.
Does not exist.
!
Product needs selling, no sales effort.
You have no revenue.
Credit: Thiel
http://blakemasters.tumblr.com/post/22405055017/peter-thiels-cs183-startup-class-9-notes-essay
