This document provides an overview of Lean Startup principles and tools. It discusses building minimum viable products (MVPs) to test assumptions, measuring progress through "pirate metrics", and learning from data to pivot or persevere. Key frameworks covered include the Business Model Canvas to outline a business idea, the Validation Canvas to test assumptions, and the Experiment Canvas to track hypothesis testing. Guidance is given on where to start depending on the stage of a startup idea, from early concepts to established products. Recommended tools are listed for landing pages, metrics, and other functions.

1. run a smarter business

2. Today
What we’ll do today
learn what Lean Startup is
pitch ideas
do customer validation
learn more about UX and experiments

3. Tools and Books
Tools
Books

4. New Startups
400,000

5. Lean Startup 101
buildbuild
measumeasu
rere
learnlearn
build
Objective: to learn something via MVP
- landing page
- street sign
- customer interview scripts
- lean coffee
- not necessarily code
measure
Objective: to see progress
- Acquisition
- Activation
- Retention
- Referral
- Revenue
“pirate metrics”
learn
Objective: uh, to learn?
- review metrics
- pivot? persevere?
- create options for next MVP

6. Business Model Canvas
PROBLEM SOLUTION
METRICS
UVP UNFAIR
ADVANTAGE
CUSTOMER
SEGMENTS
CHANNELS
COST STRUCTURE REVENUE STREAMS
Existing
Alternatives?

7. Validation Canvas

8. Tracking Experiments
Assumption To Do In progress Done Insights
MVPs
busy people
want a better
way to make
decisions faster
landing page
pitch night
people thought
this would be
used in meetings
twitter
account
setup WP
make
logo
slide deck
buffer
tweets
follow
agile folks
on tw
create
script

9. The Pitch

10. Where to Start?
N
EW
ID
EA
EARLY
STAGE
1ST
M
VP
LIVE
ESTABLISH
ED
PRO
D
UC
T
- alternatives?
- market research?
- look for innovators
- less formal approach
- test riskiest assumptions
- MVP may not be SW
- website/landing page
- customer interview scripts
- pirate metrics
- split testing
- app metrics
- SEO testing
- pirate metrics
- agile development
- feed backlog using data
- customer communities
THERE IS NO ONE RIGHT WAY!

11. Stories
Sebastian Dwornik

12. Handouts

13. Lean Startup 101
buildbuild
measumeasu
rere
learnlearn
build
Objective: to learn something via MVP
- landing page
- street sign
- customer interview scripts
- lean coffee
- not necessarily code
measure
Objective: to see progress
- Acquisition
- Activation
- Retention
- Referral
- Revenue
“pirate metrics”
learn
Objective: uh, to learn?
- review metrics
- pivot? persevere?
- create options for next MVP

14. Business Model Canvas
PROBLEM SOLUTION
METRICS
UVP UNFAIR
ADVANTAGE
CUSTOMER
SEGMENTS
CHANNELS
COST STRUCTURE REVENUE STREAMS
Existing
Alternatives?

15. 1) Customer Segments: Who has your problem?
2) Problem: What problem are you trying to solve? List a few.
3) UVP: What is unique about your offering compared to competitors?
4) Solution: What is the solution to the problem you’re trying to solve?
5) Channels: Where will your solution be offered?
6) Revenue Stream(s): How will you make money?
7) Cost Structure: What are your estimated costs?
8) Metrics: How will you measure progress to solving the problem?
9) Unfair Advantage: What is it about your company that gives you an edge?
10) Existing Alternatives: Who are your competitors?
Business Model Canvas

16. Validation Canvas

17. 1) Create your customer, problem and solution hypothesis:
IE:
Problem hypothesis - managers are over-burdened with meetings and need
a faster way to make decisions.
Solution hypothesis - managers will use an app that will help them reduce the amount
of time spent in meetings
Customer hypothesis - any company who has people that aren’t in the same building
2) Brainstorm your assumptions:
- managers feel over-burdened with meetings
- people would use an app vs calling meetings (behaviour change)
3) Identify your riskiest assumption:
- people would use an app vs calling meetings (behaviour change)
4) Validated or Invalidated?
- neither, learned after the pitch people thought this tool would be used IN the meeting
5) Pivot:
- more clear language and a simple working version of the app
Validation Canvas
Example

18. Experiment Canvas
Assumption To Do In progress Done Insights
MVPs
busy people
want a better
way to make
decisions faster
landing page
pitch night
people thought
this would be
used in meetings
twitter
account
setup WP
make
logo
slide deck
buffer
tweets
follow
agile folks
on tw
create
script

19. Where to Start?
N
EW
ID
EA
EARLY
STAGE
1ST
M
VP
LIVE
ESTABLISH
ED
PRO
D
UC
T
- alternatives?
- market research?
- look for innovators
- less formal approach
- test riskiest assumptions
- MVP may not be SW
- website/landing page
- customer interview scripts
- pirate metrics
- split testing
- app metrics
- SEO testing
- pirate metrics
- agile development
- feed backlog using data
- customer communities
THERE IS NO ONE RIGHT WAY!

20. Metrics
Acquisition
Activation
Retention
Referral
Revenue
Good Metrics
new customers, IE signed up
new customer uses your product
that customer comes back
that customer tells other people
that customer pays you
Other Measures:
- conversion rates
- funnel progress
- data from keywords used for SEO

21. Vanity Metrics
Bad Metrics
Twitter followers
Facebook likes
Website visitors (with no actionable data)
Page views
Market research (“if I get 3% of that market!!)
If it makes you feel good and the metric doesn’t
fit into AARRR it’s probably a vanity metric!

22. Tools and Stuff
Landing Pages
- www.unbounce.com
- www.launchrock.com
- www.landerapp.com
Metrics
- www.piratemetrics.com
- www.kissmetrics.com
- www.google.com/analytics
Other Stuff
www.leanstartupmachine.com/validationboard
www.leanlaunchlab.com
www.leanstack.com
www.wufoo.com
www.mailchimp.com
More Stuff
www.chargify.com
www.verifyapp.com