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Tech entrepreneurship (Lean Startup)
Transcript of Tech entrepreneurship (Lean Startup)
Lean StartUp Method
and what we can learn from it?
Companies VS. StartUps
Agile Vs. Lean Startup
Start-Ups & disruption
Innovation in Large
Known, Trusted, Dependable
New , Unknown, To be tried
Scale, Low Cost, High tech
Minimal like Tax Breaks
Known: Client, Scope , Requirements
Product: High quality , Full support,
Variable: Client, Requirements, Scope
Product:: Unknown definition of Quality,
Large,hierarchical, Standards, Rules,
procedures, Rigid, relatively
Small, dynamic, agile, fast response
Name: Badreldin Mostafa
Experience: 6 years M/LWD engineer (Cairo/ Tanggu)
Education: B Eng. Electronics - MBA (Innovation & entrepreneurship)
Acquiring Innovative Startups
But Why ?
"Build it and they will come"
Minimal viable products
Wizard of OZ
Bad measurements 1
Bad measurements 2
$100 = 1000 customers
50% Download app= 500 customers
10% active users= 50 customers
20% paying customers= 10 customers
$9 per customer = $90 Sales
Split testing A/B
Message A: 16 Users in 8 countries
are chatting now
Message B: 16 Users in YOUR country
are chatting now
Show to 100 users
22% clicked for A VS. 56% for B
30% said likely VS 70%
40 People want the chat
6 people want the chat
Prospecting for metal
Use measurement knowledge
PIVOT to 0&G
Payment system palm pilot
Payment through email
Payment on Ebay