In April 2012, Brain Mathews asserted in his white paper that libraries need to “Think Like a Startup." But how do startups think? If we are going to emulate startup culture, then we have some learning to do. This interactive session will tackle the build-measure-learn cycle, validated learning, iterative design, continuous improvement, and other components of lean thinking. We'll underscore the importance of hands-on development, prototyping, and hypothesis testing. Come join the conversation and help make entrepreneurial thinking a habitual part of our practice and profession. Presented by M.J. D'Elia & Helen Kula.
24. VALUE PROPOSITION
What problem are you solving for whom?
How does your product create customer gains?
How does your product alleviate customer pains?
Value Proposition Canvas
26. VALUE PROPOSITION
RESEARCH HELP DESK
Observation: Declining statistics for in-depth research help.
Proposed solution: New location. Improved branding.
Value Prop: Convenience. Accessibility. Usability. Clarity.
28. BUILD MEASURE LEARN
A three-step feedback loop that enables rapid
development and constant adjustments to the
business model.
Ries (2011), p. 22, 76-77
30. BUILD MEASURE LEARN
Learn: What do you want to know?
Measure: How will you measure it?
Build: What do you need to make?
Ries (2011), p. 76-78
31. BUILD MEASURE LEARN
RESEARCH HELP DESK
Build: “Lemonade stand” at the library entrance.
Measure: Track interactions. Conduct user experience interviews.
Learn: Students like quick help. Discovered new frustrations.
33. MVP
Minimum Viable Product = a product/service
with just enough features that allow it to reach
the market
Ries, 2011
34. MVP
Low-Fidelity MVP: Does the customer care?
(Often used in customer discovery)
High-Fidelity MVP: Will the customer adopt your
solution? (Often used in customer validation)
Ries, 2011
36. MVP
RESEARCH HELP DESK
Hi-fi MVP: “Lemonade stand” + service model
Tests: Query tracking. Customer journey maps. Signage audits.
Staffing plan and service modelling. Revised referral strategy.
38. PIVOT
A fundamental change in strategy based on
validated learning in the customer development
process.
Ries (2011), p. 76-78
39. MVP
PIVOT
Observation: Declining statistics for in-depth research help.
MVP: “Lemonade Stand”
Build-Measure-Learn: Discovered other challenges.
Zoom-Out Pivot: Expand our changes to include all frontline
service interactions.
41. CASE STUDIES
A NEW
MAKER
SPACE
VIRTUAL
LEARNING
COMMONS
Images: http://www.3ders.org/articles/20130315-expressing-mathematics-in-3d-printed-sculpture-art.html
http://www.freefever.com/wallpaper/1280x800/best-windows-wallpaper-abstract-fibre-optic-20882.html
http://www.boostlabs.com/infographics-and-data-visualization-services-dc-md-va/
DATA
VISUALIZATION
WORKSHOP
42. CASE STUDY
1. Which customers would you visit?
2. What would be your value proposition?
3. What would an MVP look like?
4. How will you measure your success?
5. How will you scale your solution?
44. APPLICATION
TIP 1
TIP 2
“There are no facts
inside your building,
so get outside.”
The best startup ideas
ideas come from
noticing.
Blank & Dorf, 2012, p. 31
Graham, 2012
45. APPLICATION
TIP 3
TIP 4
Determine what you
want to learn before
you build.
Build a minimum
viable product with
the smallest possible
feature set.
Ries, 2011, p. 76-78
Blank & Dorf, 2012, p. 60
46. APPLICATION
TIP 5
TIP 6
“No business plan
survives first contact
with customers.”
“Failure is an integral
part of the search.”
Blank & Dorf, 2012, p. 35
Blank & Dorf, 2012, p. 33
47. FINAL THOUGHT
“There is no way to remove the human element-vision, intuition, judgment--from the practice of
entrepreneurship, nor would that be desirable.”
Ries, 2011
52. REFERENCES
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
Graham, P. (2012). How to get startup ideas [Blog]. http://paulgraham.com/startupideas.html
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.
Slide Design: Pasquale Vitiello