4. … less than 3 people in this room will
Create successful companies*
“(*) The only statistics you can
trust are those you falsified
yourself
--(often falsely attributed to) Winston Churchill
11. We crafted opinionated software…
“The best software
has a vision.
The best software
takes sides.
…
Decide what
your vision is and run with it.”
-- 37 signals
27. ... A world that recognized the extraordinary
challenges I once faced
“ A startup is a human institution
designed to create new products
and services under conditions of
extreme uncertainty.
--- Eric Ries
28. ... A world that showed how Searching for
a business model is different from
executing a validated one
“ A startup is a temporary
organization used to search for
a repeatable and scalable
business model.
--- Steve Blank
29. It gave me a path to create a sustainable
business around products that customers want
Customer development data,
PROBLEM/ PRODUCT/ SCALE feedback,
MARKET
insights
SOLUTION
FIT FIT
Customer Company
Customer Customer
stop creation stop
building
discovery stop validation
Agile development
Pivot
hypothesis,
experiments,
insights
Problem: Unknown solution: Unknown
30. ... A path characterized by frequent scientific
experiments…
Learn
Build
(establish an
hypothesis)
(Build an experiment
to test that hypothesis)
Measure
(Determine a quantitative or qualitative method to evaluate that hypothesis.)
31. … To accelerate the rate of learning…
Learn
idea Build
(whether to pivot
or persevere) (Turn ideas into product)
(often a series of
MVPs)
data
Product
Measure
(How customers respond)
32. … And measure real progress towards success
Acquisition How do users find you?
Activation Do users have a great first experience?
retention
Do users come back?
revenue How do you make money?
referral Do user tell others?
( see Dave McClure
“Pirate” metrics)
Cohort analysis
34. I document my business model(s) explicitly
Solution
Top 3 Unique Unfair Customer
Problems Value Advantage Segments
Proposition
Key metrics Channels
Existing Early
alternatives adopters
Cost structure Revenue streams
www.leancanvas.com
35. my vision is built on opinions untested
assumptions
36. … which I systematically validate with
experiments…