NYU Lean LaunchPad - Customer validation

1. Class 9 / 12
April 7, 2014
Jen van der Meer | jd1159 at nyu dot edu
Josh Knowles | chasing at spaceship dot com
LEAN
LAUNCHPAD
AT NYU ITP
Rockets Sketches borrowed from Harry Allen Design

2. 6:00 – 6:20:
Prep for MVP and Lessons Learned
6:20 – 6:40
Drip.fm
6:40 – 6”50
Break
6:50 – 7:50
Teams present
8:00
Corie Hardee Little Borrowed Dress
TODAY:

3. .
WE ARE HERE
1/27
Business Models
Customer Development
UX Tools Intro
2/3
Value Proposition
UX Tools, Frameworks
2/10
Customer Segments
Research Tools
2/17
President’s Day
2/24
Revenue Streams
Distribution
Product Definition
3/3
Customer Relationships
Partners,
Product Development
3/10
Resources,
Activities, Costs,
Product Development
3/17
Spring Break
3/24
Customer Development
Product Development
3/31
Customer Development
Product Development
4/7
Customer Development
Product Development
4/14
Customer Development
Product Development
4/21
Product MVP
4/28
Lessons Learned

4. ALL OF US ARE PIVOTING

5. WHAT TO DO WITH INVALIDATED
SEGMENTS, PROTOTYPES, OR DISPROVED
HYPOTHES?
Keep them in a “one day” file
You never know when cultural norms shift
Technology gets ever more present
Components dwindle down to zero cost
What will be possible, but isn’t possible now

6. 6
WHAT CAME BEFORE STEVE AND ERIC

7. LESSONS LEARNED DAY 4/28
Not a demo day. – No correlation between great PowerPoint or videos and a two minute
demo to building a successful business model.
Instead: we’ll have Learning Demos.
_Major insights
_Pivots from original business model assumptions
_Metrics that mattered
“Lessons Learned” day allows us to directly assess the ability of the team to learn, pivot
and move forward.
What your future business partners, investors, and employees will seek out as you grow
your companies.

8. LESSONS LEARNED DAY: EXPECTATIONS
2 Minute Video
Why Video? Because Lean LaunchPad is an experiment beyond just ITP, it’s a
commitment to learn together, as an ecosystem across NYU, across all of the Lean
movement.
8 Minutes: presentation
- Use the updated business model canvas to show your journey
- Use diagrams of what was learned: customers, channels, etc.
- What have you validated, what are you still trying to validate
- Show what you learned in Customer Discovery
- Show what you learned as you moved forward to Customer Validation
- If you send us a week before, we can give you feedback

9. LESSONS LEARNED VIDEO: SUGGESTED OUTLINE
Your names
Team’s name
Show us where you “created” this idea, where you’ve been working on it
How many customers did you talk to?
Did you find this easy? Hard at first?
When you started the class, what was the most important thing you thought you would
have to do to successfully launch a scalable startup?
How do you feel about that now?
Thinking back across the class, who was the most interesting person you met and
where did you meet them?
What happened??
Why, specifically, was this your most interesting customer conversation?
And how, specifically, did your business model change as a result?
Now that the class is over, what was the most surprising thing you learned in the class?

10. PRESENTATION OUTLINE: CUSTOMER DISCOVERY
Customer
Discovery
Customer
Creation
Customer
Validation
Company
Building
What experiments did you run to test each hypothesis?
Did you find a market to fit your vision, with a large enough
addressable market to fit your aspirations?
Iteration Execution

11. PRESENTATION OUTLINE: CUSTOMER VALIDATION
Customer
Discovery
Customer
Creation
Customer
Validation
Company
Building
 Verify core features
 Verify market’s existence
 Locate customers
 Tests the product’s perceived value
and demand
 Idenfity the economic buyer
 Establish pricing and channel
strategies
 Check out proposed sales cycle
and process
ESCAPE VELOCITY
Iteration Execution

12. 12
WHAT CAME BEFORE STEVE AND ERIC

13. APPENDIX

14. STUDENT TEAMS
Team Name School
Cognitive Toy Box Lindsey Jones Stern
Tammy Kwan Stern
Hsiang Huang Stern
Alternative Monuments Rodrigo Derteano ITP
Maximo Sica ITP
Ajejandro Puentes ITP
Alon Chitayat ITP
NYBL Sam Slover ITP
Shilpan Bhagat ITP
Max Ma ITP
DiscoverEd Sergio Majluf ITP
Su Hyun Kim ITP
Christina Yugai Stern
Yuliya Parshina Kottas ITP

15. MENTORS + TEAMS
Tom Igoe @tigoe
ITP, Arduino, Making Things Talk, NYU
ITP Pitchfest
Alternative Monuments
Julie Berkun Fajgenbaum @julieF
Stern Adjunct Professor, Former VP
Amex Open, now startup co-founder
NYBL
Michael Levitz @michael_levitz
ITP grad, R/GA, Lean
DiscoverED
Sarah Krasley @sarahkrasley
Autodesk, Sustainability, Berkeley
For all
Chris Milne @greedo1000
IDEO, Toy Lab, Stanford, LEGO
Cognitive Toy Box