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Copenhagen Lean Startup presentation / Andreas Cleve

About the Lean Startup
by

Andreas Cleve

on 23 July 2014

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Transcript of Copenhagen Lean Startup presentation / Andreas Cleve

The problem
Startups have a very high failure rate ( 1 in 12 survive )
1. Traditionel management
teori
Disse teorier er udviklet med henblik på etableret virksomheder
og produkter!
however
This kind of thinking isn't made
for creating new innovations
It restricts the creativity by categorizing
and positivistic/rational-man thinking
These theories are not suitable in environments of high uncertainty like a startup(intrapreneural project)
2. In lack of better tools, a lot of startups apply the "just do it" school
This school of entrepreneurship and innovation development, is based on a "just push it and let's see what happens" mindset.
Which leads to:
They follow a management discipline
Spending considerable time and resources on creating things that in the end nobody uses!
Making a lot of decisions based on assumptions and intuitions which ultimately create little or no value to the business
Eric Ries asked: "Is it possible to create a sound management methodology, that facilitates the innovation process in a startup and helps improve the success rate of entrepreneurs?
Introducing
The Lean Startup

Application of Lean Thinking in the innovation process of a Startup
Based on the ideas of Lean Thinking and Costumer Development, Eric Ries creates a management discipline that seeks to eliminate the abundant waste, when operating in a startup without sacrificing innovation
The Lean Startup
method

Everything starts with a vision!
The startup will be the human institution, formed to reach that vision!
The purpose of the startups management is to maximize the value created for all stakeholders = equals minimizing uncertainty
The startup must discover which underlying
hypothesis the vision is based on, and convert
these hypotheses into a business model!

The business model will then be tested under conditions of extreme uncertainty
Build-Meassure-Learn
Feedback Loop
Validated learning
Minimum Viable Product
Pivot
Build
Make experiments that test your:
Value hypothesis
The purpose of practical experiments is to validate the hyphotesis that underpin our business model
Validated Learning (proven premise) is the main product of a Startup
Actions that doesn't help you validate or rule out parts of your assumptions about your business model are considered a waste, and should be eliminated
"Take 1/8 of what you think is you MVP, and then you have it!" - Eric Ries
The goal of MVP is to collect the maximum amount of information to confirm or rule out key hypotheses in the business model using minimal effort
Costumer experiments needs
When a fundamental hypothesis is discarded the startup must make a pivot.
A pivot is then a change in basic assumptions fundamentally impacting the business model proposed
Type 2:
Costumer segment
pivot
Type 5:
Value capture
Pivot
Type 3:
Costumer need pivot
Type 4:
Channel Pivot
Type 1:
Zoom in / Zoom out pivot
What was once a product feature, now becomes the product

What the product is now, becomes a feature of a larger product
The main principles of the theory
But who can we look to, in search of guidance when creating novelties?
2 paradigm's are very common
Growth hypothesis
Market hypothesis
Meassure
You need to find
and monitor the right metrics to measure your progress
"..the first thing I created was the dashboard".
- Jack Dorsey, Co-founder of Square (& Twitter)
Learn
Is your hypothesis true/false?
Is your engine off growth tuned?
Should you pivot?
What did your experiments tell you?
All efforts should be falsifiable
Key take-away 1:
Key take-away 2:
Key take-away 3:
what to expect..=?/
Formal part
I’ll talk for about 20 mins.
We’ll have a Q&A at the end
Questions are welcome
Content part
I’ll only introduce the Lean Startup principles

For more info:
kippt.com/Andreascleve/lean-startup
www.startuplessonslearned.com
www.theleanstartup.com
Who the f*** am I?
Background
- Co-founder of Ovivo.dk(my second startup)
- Founded 2010
- 9 employees
- Servering 1/5 of the danish municipalities
- Bootstrapped as hell
- Finishing my HD(O) at CBS
- Organizer: Lean Startup Circle CPH

Contact
twitter.com/andreascleve- dk.linkedin.com/in/andreascleve
is my company a lean startup?
We are in the sexy healthcare business
the healthcare sector is not that
tech savvy..
Our costumers don’t really dig experiments!
Their reality:
- Often they have very slow internet!
- IE 6.0 is STILL out there!
- Average IT skill level is low!
- Facebook can be scary!
Nevertheless...
- All our development is iterative & agile
- We push up to once a day
- We test hypothesis on real users
(everyting in moderation)
- We meassure a lot more than our competitors
- We meet with costumers every week for feedback
LS can be applied although your product is mission critical! Communication is key!
The most important part
has been the change in the way we talk and act..

What's the fuss about them Lean Startups?
Sorry to the employees of Lyngby-Taarbæk municipality!
Sorry to Anita for (almost) ruining her on a trip to Africa
The important part
is, that you as an entrepreneur
and culture-creator are
aware of your mindset and
it's implications

My points:
Personal take away 2:
Personal take away 1:
Personal take away 3:
Lean Startup's biggest
contribution is the
impact it will have on the
way you talk and act
as a team and
entrepreneurs!

What's your thoughts on creating
accountable and costumer-value driven culture in your companies
I'd love to learn:
Are they here to stay? - Are they evil?
It's a bit more harmless
And it's made by this guy!
Eric Ries..
Full transcript