Slides used for a webinar sponsored by Sirsi-Dynix and delivered on June 3, 2015 by MJ D'Elia and Helen Kula. Topics covered include why startup thinking applies libraries and five strategies or tools used by startups that libraries could consider using in their own context.

1. How to Run
Your Library
Like a Startup
June 3, 2015
Helen Kula & M.J. D’Elia

2. welcome

3. Helen Kula
@helenkula
U ofTorontoMississauga
M.J. D’Elia
@mjdelia
University of Guelph

4. • Context
• Five strategies
• Discussion
Agenda

5. • Introducestartup thinking
• Suggest practicalsteps to get started
• Invite discussion
Objectives

6. Libraries are NOT startups

7. No revenue model
Libraries are NOT startups
Institutionalcomplexity
Legacy systems
Analogand digital
Inherited tradition

8. The case for startup thinking

9. The case for startup thinking
Limited resources
Conditions of uncertainty
Platformbuilding
Anticipatechange
Commitmentto mission

10. Startup Myths

11. Entrepreneurs love risk

12. They use processes to reduce risk

13. Entrepreneurs rely on intuition

14. They use data to make decisions

15. Entrepreneurs launch fully formed businesses

16. Entrepreneurs committo iterativeimprovement

17. Startupsare focused on learning quickly.
They offer valuableapproachesthat
we could translateto our context.
Premise

18. five strategies

19. 1. Focus on the problem

20. Understand the core challenge your
customers are trying to solve.
Focus on the problem
• Whataretheytryingtodo?Why?
• Whatpainsaretheyexperiencing?

21. • Get out of the building
• Listen more, talk less
• Seek out non-users
• Gatherand evaluatefeedback
How to focus on the problem

22. A fundamentalchange in strategy based
on validatedlearning;a course correction.
Pivot
(Ries, 2011)

23. Be prepared …
to be humbled

24. 2. Build for the few

25. Focus development on one or two key
groups who will benefit from the service.
Build for the few
• Whostandstogainthemost?
• Whichgroupsareeasiesttoreach?

26. • Choose customers who share a need
• Choose customers you can access
• Find early adopters
• Invite them to co-create
How to build for the few

27. Breakingdown a larger market into smaller
identifiablegroups of users who share
specific needs.
Segmentation
(Cooper &Vlaskovits, 2010)

28. Be prepared…
for pressure to increase scope

29. 3. Build-measure-learn

30. Iterate and improve your approachbased
on what you learn.
Build-measure-learn
• Whichassumptioncanyou testnext?
• Whatcanyoubuildtotestit?

31. • Build successive prototypes
• Monitoruser behavior
• Run A/B tests
How to build-measure-learn

32. A product or service with just enough
features that allow it to reach the market.
MinimumViable Product
(Ries, 2011)

33. Be prepared…
to accept imperfection

34. 4. Monitor key metrics

35. Track data that indicatethe ongoing
use of the product or service.
Monitor key metrics
• Whichdataareessential?
• Howcanyoumeasureimpact?

36. • Choose key data points to track
• Monitordata frequently
• Make changes based on data
How to monitor key metrics

37. Monitoringkey metrics in (near) real-time
to track core elements of the business.
Dashboarding
(Komisar & Mullins, 2009)

38. Be prepared…
to abandon your library stats

39. 5. Articulate your value

40. Communicatethe benefits that you generate
for your customers clearlyand precisely.
Articulate your value
• Whywouldpeoplechooseyou?
• What’sinitfor yourcustomers?

41. • Make your value explicit
• Be succinct
• Tailor your value to each segment
• Internalizevalues with staff
How to articulate your value

42. The bundle of products and services that
create value for a specific customer segment
Value proposition
(Osterwalder & Pigneur, 2010)

43. Be prepared…
for disagreement

44. wrap

45. • Focus on the problem
• Build forthe few
• Build-measure-learn
• Monitorkey metrics
• Articulateyour value
Five strategies (review)

46. Discussion

47. Blank, S. (2014). Steve Blank [blog]. Retrieved from http://steveblank.com
Blank, S. & Dorf, B. (2012). The Startup Owner’s Manual. Pescadero, CA: K&S Ranch
Cooper, B. & Vlaskovits, P. (2010). The Entrepreneur’s Guide to Customer Development. Newport
Beach, CA: Cooper-Vlaskovits
Komisar, J. & Mullins, R. (2009). Getting to Plan B. Cambridge, MA: Harvard Business.
MaRS. Entrepreneur’s Toolkit. Retrieved from http://www.marsdd.com/entrepreneurs-toolkit/
Mathews, B. (2012, April). Think like a Startup [white paper]. Retrieved from
http://vtechworks.lib.vt.edu/handle/10919/18649
Osterwalder, A. & Pigneur, Y. (2010). Business Model Generation. Hoboken, NJ: Wiley
Ries, E. (2011). The Lean Startup. New York: Crown.
References