My speech at the start of the StartSmart! program in Estonia discussing what execution means in a lean startup context.

1. Tristan Kromer
LUXr.co
@TriKro

2. About LUXr
LUXr’s mission is to educate early-stage entrepreneurs on
effective practices to deliver products that customers want,
need and love to buy.
Residency Core Workshops Advising
Curriculum
8 weeks to Learning products Core concepts and Coaching &
awesome for for accelerators & hands-on activities guidance for teams
early-stage teams. startup teams. for everyone. going at lightspeed.
LUXr • 3435 Cesar Chavez
San Francisco, CA • 94110
info@luxr.co • http://luxr.co • twitter: @luxrco
Janice Fraser, Founder & CEO [janice@luxr.co • @clevergirl ]
Jason Fraser, Co-Founder & Operations Lead [jason@luxr.co ]
Kate Rutter, Co-Founder & Designer [kate@luxr.co • @katerutter ]
LUXR.CO AUGUST 2012

3. Disclaimer
I am not an expert in your business.
Only you can be the expert
in your business.
My job is:
• to ask the unasked questions;
• to challenge assumptions;
• and give you tools to succeed.

4. Execute4Success

5. What is execution?

11. What is execution?

12. Execution = Learning

13. Steve Blank

14. Steve Blank

15. Don’t go to market,!
maximize learning"
Learn" Execute"
P/MF"

16. Don’t go to market,!
maximize learning"
Learn" Execute"
P/MF"

17. Don’t go to market,!
maximize learning"
Learn"
Learn Execute"
Scale
P/MF"

18. Don’t go to market,!
maximize learning"
Learn"
Learn Execute"
Scale
P/MF"

19. What is execution?

20. Execution = Learning

21. Eric Ries

23. Cash on Hand
= Runway
Burn Rate

24. Time ≠ Learning

25. = Learning

26. Two Year Runway
One Year
Iterations

27. One Month Runway Two Year Runway
>
One Day One Year
Iterations Iterations

28. Cash on Hand
= Runway
Burn Rate

29. # of iterations = Runway

35. What is execution?

36. Execution = Learning

37. LUXr.co
Janice Fraser
LUXr.co

39. product

40. product UI

41. product UI

51. BEHAVIORS
Gets SMS from kids “Pick me up!”
Has a housekeeper once a week
Complains “I feel overwhelmed”
Orders take-out 3 nights/wk
Calls to remind husband for errands
DEMOGRAPHICS NEEDS & GOALS
Married, 2 kids Help coordinating errands, manage
kids, keep things running
Working mom
Have time for herself
Household income is $15k / year Feel like she has life under control
34 years old
“to clone herself”
Lives in Walnut Creek,
works in San Jose

52. Alexander
Osterwalder

53. Alexander
Osterwalder

55. Ash Maurya

57. What is execution?

58. Execution = Learning

61. About LUXr
LUXr’s mission is to educate early-stage entrepreneurs on
effective practices to deliver products that customers want,
need and love to buy.
Residency Core Workshops Advising
Curriculum
8 weeks to Learning products Core concepts and Coaching &
awesome for for accelerators & hands-on activities guidance for teams
early-stage teams. startup teams. for everyone. going at lightspeed.
LUXr • 3435 Cesar Chavez
San Francisco, CA • 94110
info@luxr.co • http://luxr.co • twitter: @luxrco
Janice Fraser, Founder & CEO [janice@luxr.co • @clevergirl ]
Jason Fraser, Co-Founder & Operations Lead [jason@luxr.co ]
Kate Rutter, Co-Founder & Designer [kate@luxr.co • @katerutter ]
LUXR.CO AUGUST 2012

62. Tristan Kromer
LUXr.co
@TriKro