Here's my (new) 30 minute introduction to Lean Startup that I just presented at Northeastern's Husky Startup Challenge.

1. Lean Startup 101
Abby Fichtner
Harvard Innovation Lab
http://HackerChick.com

2. “Considering the incredible amount of human energy, passion,
and creativity that we invest in creating new products & services…
@HackerChick @EricRies

3. … it’s a terrible waste that so many of them fail.”
@HackerChick @EricRies

4. 9 out of 10
new products
fail
@HackerChick

5. “Most start-ups fail not because the technology
doesn’t work, but because they’re making something
that there is not a real market for”
@HackerChick @EricRies

6. Single Biggest Predictor of Failure?
@HackerChick 300 startups surveyed (src: Don Sull, "The Upside of Turbulence”)

7. Single Biggest Predictor of Failure?
Sticking to Initial Business Plan
@HackerChick 300 startups surveyed (src: Don Sull, "The Upside of Turbulence”)

8. Promise of the Lean Startup
Instead of building our startups according to myths
We can guide them with facts and knowledge
@HackerChick @EricRies

9. Startups are NOT small versions
of large organizations
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10. @HackerChick

11. The unit of progress for entrepreneurs…
learning
not
execution
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12. validate
before
building
@HackerChick

13. @HackerChick

14. @HackerChick

15. @HackerChick

16. @HackerChick Andrew Mason, CEO of Groupon (NY Tech Meetup)

17. you‘re way too
dumb
to figure out whether your
idea is
good
@HackerChick Andrew Mason, CEO of Groupon (NY Tech Meetup)

18. @HackerChick

19. @HackerChick

20. @HackerChick

21. Minimum Viable Product (MVP)
strategy for fast & quantitative
market testing of a product or feature
@HackerChick wikipedia

22. @HackerChick

23. Step #1a
Find a
problem
worth solving
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24. We had an idea for a new product.
We went off & built it, put it on our website.
@HackerChick

25. We had an idea for a new product.
We went off & built it, put it on our website.
Not a single person clicked thru to it
@HackerChick

26. We had an idea for a new product.
We went off & built it, put it on our website.
Not a single person clicked thru to it
What did we learn from that?
@HackerChick

27. We had an idea for a new product.
We went off & built it, put it on our website.
Not a single person clicked thru to it
Was there a faster way to get
through that learning loop?
@HackerChick

28. @HackerChick

30. @HackerChick

31. @HackerChick

32. @HackerChick

33. @HackerChick

34. Step #1b
Know your
customer
@HackerChick

35. @HackerChick

36. It’s just as important to develop your
customers as it is to develop your product
@HackerChick wikipedia

37. Brainstorm
Customer Problem
anyone who cooks can’t find recipes
@HackerChick

38. Brainstorm
Customer Problem
anyone who cooks can’t find recipes
amateur gourmet chefs want to make fabulous food
for friends & family
@HackerChick

39. Brainstorm
Customer Problem
anyone who cooks can’t find recipes
amateur gourmet chefs want to make fabulous food
for friends & family
dieters need to lose weight
@HackerChick

40. Brainstorm
Customer Problem
anyone who cooks can’t find recipes
amateur gourmet chefs want to make fabulous food
for friends & family
in college
dieters
^ need to lose weight
@HackerChick

41. @HackerChick

42. @HackerChick

43. @HackerChick

44. Xcelerate - @HackerChick

45. Customer Discovery
What is the problem?
Who has the problem?
@HackerChick @SGBlank

46. Customer Discovery
How important is the problem’s solution to the customer?
How valuable is the problem’s solution to the customer?
@HackerChick @SGBlank

47. Step #2
Find a
solution
that resonates
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48. Concierge Service
(AKA Wizard of Oz)
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@HackerChick

49. @HackerChick

50. @HackerChick

51. Step #3…n-1
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52. Customer Validation
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53. Step #n
launch!
when you have a
quantum of utility
@HackerChick @paulg, Y Combinator

54. Learn More
Eric Ries
@EricRies
http://startuplessonslearned.com/
Steve Blank
@sgblank
http://steveblank.com/
Ash Maurya
@ashmaurya
http://ashmaurya.com/
Abby Fichtner
@HackerChick