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The Lean Startup #leanstartup,[object Object],“Innovation through experimentation”,[object Object],Eric Ries (@ericries),[object Object],http://StartupLessonsLearned.com,[object Object]
STOPWASTINGPEOPLE’STIME,[object Object]
Most Startups Fail,[object Object]
Most Startups Fail,[object Object]
Most Startups Fail,[object Object]
STOPWASTINGPEOPLE’STIME,[object Object]
Entrepreneurship = Awesome,[object Object],It is the best time in the history of the world to be an entrepreneur,[object Object],Costs are falling in all industries,[object Object],Barriers are being destroyed,[object Object],Disruption and chaos are everywhere,[object Object]
Why build a startup?,[object Object],Only entrepreneurship combines these three elements,[object Object],Change the world,[object Object],Build an organization of lasting value,[object Object],Make customers’ lives better,[object Object]
What is a startup?,[object Object],[object Object]
Nothing to do with size of company, sector of the economy, or industry,[object Object]
Entrepreneurship is management,[object Object],[object Object]
Traditional management practices fail- “general management” as taught to MBAs,[object Object],[object Object]
Not just for “two guys in a garage”,[object Object]
I’,[object Object]
The Pivot,[object Object],[object Object]
They started out as digital cash for PDAs, but evolved into online payments for eBay.
They started building BASIC interpreters, but evolved into the world's largest operating systems monopoly.
They were shocked to discover their online games company was actually a photo-sharing site.
Pivot: change directions but stay grounded in what we’ve learned. ,[object Object]
STOPWASTINGPEOPLE’STIME,[object Object]
Who to Blame,[object Object],[object Object],Study work to find the best way,[object Object],Management by exception,[object Object],Standardize work into tasks,[object Object],Compensate workers based on performance,[object Object],“In the past, the man was first. In the future, the system will be first.” (1911),[object Object],Frederick Winslow Taylor,[object Object],(1856 – 1915),[object Object]
Traditional Product DevelopmentUnit of Progress: Advance to Next Stage,[object Object],Waterfall,[object Object],Requirements,[object Object],Specifications,[object Object],Design,[object Object],Problem: known,[object Object],Solution:known,[object Object],Implementation,[object Object],Verification,[object Object],Maintenance,[object Object]
A good plan?,[object Object],[object Object]
Raise plenty of capital.
Hire the absolute best and the brightest.
Hire an experienced management team with tons of startup experience.
Focus on quality.
Build a world-class technology platform.
Build buzz in the press and blogosphere.,[object Object]
Crippled by “shadow beliefs” that destroyed the effort of all those smart people.,[object Object],[object Object],[object Object],[object Object]
Raise plenty of capital.
Hire the absolute best and the brightest.
Hire an experienced management team with tons of startup experience.
Focus on quality.
Build a world-class technology platform.
Build buzz in the press and blogosphere.,[object Object]
Agile Product DevelopmentUnit of Progress: A line of Working Code,[object Object],“Product Owner” or in-house customer,[object Object],Problem: known,[object Object],Solution:unknown,[object Object],Kent Beck,[object Object],(still alive),[object Object]
IMVU,[object Object]
IMVU,[object Object]
New plan,[object Object],[object Object]
Charged $$$from day one
Shipped multiple times a day
by 2008, on average 50 times a day
No PR, no launch
Results 2010: profitable, revenue > $40MM,[object Object]
In traditional business, value is created by delivering products or services to customers
In a startup, the product and customer are unknowns. We need a new definition of value for startups: validated learning,[object Object]
Minimize TOTAL time through the loop,[object Object]
There’s much more…,[object Object],Build Faster,[object Object],Unit Tests,[object Object],Usability Tests,[object Object],Continuous Integration,[object Object],Incremental Deployment,[object Object],Free & Open-Source,[object Object],Cloud Computing,[object Object],Cluster Immune System,[object Object],Just-in-time Scalability,[object Object],Refactoring,[object Object],Developer Sandbox,[object Object],Minimum Viable Product,[object Object],Learn Faster,[object Object],Split Tests,[object Object],Customer Development,[object Object],Five Whys,[object Object],Customer Advisory Board,[object Object],Falsifiable Hypotheses,[object Object],Product Owner,[object Object],Accountability,[object Object],Customer Archetypes,[object Object],Cross-functional Teams,[object Object],Semi-autonomous Teams,[object Object],Smoke Tests,[object Object],Measure Faster,[object Object],Funnel Analysis,[object Object],Cohort Analysis,[object Object],Net Promoter Score,[object Object],Search Engine Marketing,[object Object],Predictive Monitoring,[object Object],Measure Faster,[object Object],Split Tests,[object Object],Continuous Deployment,[object Object],Usability Tests,[object Object],Real-time Monitoring & Alerting,[object Object],Customer Liaison,[object Object]
STOPWASTINGPEOPLE’STIME,[object Object]
Thanks!,[object Object],[object Object]
http://StartupLessonsLearned.com
Getting in touch (#leanstartup)
http://twitter.com/ericries
eric@theleanstartup.com
Additional resources
Lean Startup Wiki    http://leanstartup.pbworks.com

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2010 10 28 the lean startup at ucsd

Editor's Notes

  1. I’m not leaving you, I’m pivoting to another man
  2. Conference structure
  3. Truth: The Lean Startup method is not about cost, it is about speed. Lean Startups waste less money, because they use a disciplined approach to testing new products and ideas. Lean, when used in the context of lean startup, refers to a process of building companies and products using lean manufacturing principles applied to innovation. That process involves rapid hypothesis testing, validated learning about customers, and a disciplined approach to product development.
  4. Truth: The Lean Startup methodology applies to all companies that face uncertainty about what customers will want. This is true regardless of industry or even scale of company: many large companies depend on their ability to create disruptive innovation. Those general managers are entrepreneurs, too. And they can benefit from the speed and discipline of starting with a minimum viable product and then learning and iterating continuously.
  5. Truth: There’s nothing wrong with raising venture capital. Many lean startups are ambitious and are able to deploy large amounts of capital. What differentiates them is their disciplined approach to determining when to spend money: after the fundamental elements of the business model have been empirically validated. Because lean startups focus on validating their riskiest assumptions first, they sometimes charge money for their product from day one – but not always.
  6. Truth: Lean Startups are driven by a compelling vision, and they are rigorous about testing each element of this vision against reality. They use customer development, split-testing, and actionable analytics as vehicles for learning about how to make their vision successful. But they do not blindly do what customers tell them, nor do they mechanically attempt to optimize numbers. Along the way, they pivot away from the elements of the vision that are delusional and double-down on the elements that show promise.