eent EDUCATION ABOUT ENTREPRENEURSHIP AND NEW TECHNOLOGIES @JaumeTeixi 13/07/2011 Entrepreneurship in Spain. Lean Startup. Business Model Canvas. Spanish Startup Ecosystem. Customer Development. Agile Software Development

1. eent EDUCATION ABOUT ENTREPRENEURSHIP AND NEW TECHNOLOGIES
Entrepreneurship
in Spain
@JaumeTeixi
13/07/2011

2. Entrepreneurship in Spain
The Lean Startup
The Business Model Canvas
Spanish Startup Ecosystem

3. In Case You're Sleeping...
steveblank.com
vlaskovits.com
market-by-numbers.com
alexosterwalder.com
people.hec.unil.ch/ypigneur
startuplessonslearned.com

4. Entrepreneur

5. The Lean Startup - Why?
assumptions
It’s Obvious that Everybody Wants It!
...Obviously with All this Features!
...and sure with this Pricing Model!
...discover too late that
there aren’t customers!
Value of The Idea = 0.00*
Validated Product has Value! > 0.00*

6. The Lean Startup - Path To Success
Fail, Iterate, Don’t Give Up!
...Until You Find Product/Market Fit
...Bounce Back!
...Without Running Out of Money

7. The Lean Startup
Test Your Hypothesis
Learn and Discovery
Low Burn by Design
Capital Efficiency
Minimum Viable Product
Hypothesis Validation
Customer Development
Time is Crucial

8. The Lean Startup
Agile Product Development
in parallel with
Customer Development
The Loop: Build (code)
Measure (data)
Learn (ideas)

9. Agile Software Development
Use of Open Source Frameworks, Tools
Code First, Test Meanwhile and
Document Later
MVP Minimum Viable Product
Pivoting
Metrics (Actionable, not Vanity)
In Plan -> In Process -> Finished -> Validated

10. Customer Development
Search for a Business (iterate)
Customer Discovery
pivoting
Customer Validation
Growth a Business (execution)
Customer Creation
Company Building

11. Pivoting
Focus Single Use Case
Build Minimal Features
Release and Listen to the Users
Question Your Hypothesis
Iterate, Often and Constantly

12. Metrics

13. The Lean Startup Loop

14. Crossing The Chasm
G. A. Moore: “to successfully cross the "chasm,"
including choosing a target market, understanding the
whole product concept, positioning the product,
building a marketing strategy, choosing the most
appropriate distribution channel and pricing”

15. Hype Cycle. Ready For Adoption ?
A hype cycle in Gartner's interpretation comprises five phases:
Technology Trigger — generates significant press and interest
Peak of Inflated Expectations — over-enthusiasm and unrealistic expectations
Trough of Disillusionment — fail to meet expectations becomes unfashionable
Slope of Enlightenment — understand the benefits and practical application
Plateau of Productivity — widely demonstrated and accepted
Gartner's 2010 Hype Cycle Special Report

16. The Lean Startup - Starting
It’s lonely at the top
Implementing vision takes time
“Focus on the problem. If you’re only excited about
the solution, you’ll lose interest when your solution
doesn’t fix the problem. ”
A. Wali, CTO of ModCloth
Find a Mentor
“If you’re not embarrassed when you ship your first
version you waited too long..”
M. Mullenweg, CEO & Founder of WordPress
J. Stump, Starting Your Startup

17. What The Pub Owner Told Me
Customer Service
(Serve, then Talk)
Positive Attitude
(Smile Always)
Customer Engagement
(Facilitate Loyalty)

18. The Ideal Startup
Get to a funding hub
Recruit an exceptional team.
Build something that you are passionate and
knowledgeable about
Test it against customers
Get social and customer validation
Raise on at least one exceptional characteristic
PS - Assume fierce competition
N. Ravikant, Anatomy of a fundable startup

19. Focus 1) - Team
Hacker Leader Pirate
state-of-the-art global expertise cheat it while you
technology in the field build it

20. Focus 2) - Blue Ocean Strategy
“Illustrates the high growth and profits
an organization can generate by
creating new demand in an
uncontested market space”
W. Chan Kim, R. Mauborgne Blue Ocean Strategy:
How to Create Uncontested Market Space and
Make Competition Irrelevant

21. The Business Model Canvas
What is a Business Model ?
A business model describes the
rationale of how an organization
creates, delivers, and captures value
2009, A. Osterwalder, Yves Pigneur, Alan Smith et al.

22. The Business Model Canvas
Business model design template, for easily describe
their business model
Infrastructure
Key Activities: The activities necessary to execute a company's business model.
Key Resources: The resources that are necessary to create value for the customer.
Partner Network: The business alliances which complement other aspects of the business model.
Offering
Value Proposition: The products and services a business offers. Quoting Osterwalder (2004), a value
proposition "is an overall view of .. products and services that together represent value for a specific
customer segment. It describes the way a firm differentiates itself from its competitors and is the reason why
customers buy from a certain firm and not from another."
Customers
Customer Segments: The target audience for a business' products and services.
Channels: The means by which a company delivers products and services to customers. This includes the
company's marketing and distribution strategy.
Customer Relationship: The links a company establishes between itself and its different customer segments.
The process of managing customer relationships is referred to as customer relationship management.
Finances
Cost Structure: The monetary consequences of the means employed in the business model. A company's
DOC.
Revenue Streams: The way a company makes money through a variety of revenue flows. A company's
income.

23. The Business Model Canvas

24. Lean Startup +Business Model Canvas
A Startup is a temporary
organization designed to search for
a repeatable and scalable business
model
Six Ways to Fail at a Startup
And How to Get it Right
Steve Blank, Barcelona, 15/06/2011

25. European Startups
“And yes, there are plenty of copycats, and
European startups do grow more slowly on
average than their US equivalents.
But there are also plenty of European startups that
are downright huge, and that lead the world in
innovation from a product, technology or business
model perspective as well as anyone out of Silicon
Valley.”
Pascal-Emmanuel Gobry, The 10 Biggest European Startups

26. Spanish Startup Ecosystem
“44% of young people see themselves becoming
entrepreneurs and running their own projects in the
future”
Tuenti Report (spanish)
en.forumimpulsa.org/2011/upload/article/informeimpulsatuenti.pdf
Venture Capital in Spain 2010 (spanish)
www.webcapitalriesgo.com/descargas/5404_05_11_199235071.pdf
Startups Investment Thermometer Spain 2011 (spanish)
www.readyforventures.com/wp-content/uploads/2011/05/Termometro-de-
la-inverson-en-Startups-en-Espana-2011.pdf

27. eent EDUCATION ABOUT ENTREPRENEURSHIP AND NEW TECHNOLOGIES
Thank You!
Questions?
@JaumeTeixi
13/07/2011