What does lean process mean to a medical technology startup?

2. Lean adjective
a : lacking or deficient in flesh
b : containing little or no fat <lean meat>

3. Why Lean?
It’s a race
•
•
•
•
•
Fast
Agile
Efficient
FOCUSED
HUNGRY

4. Importance of focus

5. Competition

6. FOCUS - Customer Development

7. A startup is a
temporary
organization
designed to
search for a
scalable and
repeatable
business model

8. Customer Development

9. Lean Methodology
Minimum Viable Product (MVP)
OODA Loop / Build-Measure-Learn
OBSERVE
ORIENTATE
ACT
DECIDE
Colonel John Boyd, USAF

10. Lean Methodology
Split Testing
Metrics
•
•
•
•
Measure what matters
Customer traction
Conversion ratios
Cost of acquisition ……

11. Lean Methodology
Pivoting
• Talk to customers
• Test assumptions
• Make early sales
“you gotta know when to hold ‘em,
know when to fold ‘em,
know when to walk away,
know when to run …”
A quick death is a good death. Don’t over
invest in a bad idea.

12. Lean Tools
Designed For:
Business Model Canvas II
(based on the Business Model Canvas from www.businessmodelgeneration.com)
Use this document to conceptualize and define a business model. Start in the middle (Value Prop), and spend most of your time nailing that
statement. Then follow down to Alternatives, Cost & Revenue, and fill out the rest. The bottom section is used for operational tracking.
SALES
Customer Segments
Value Prop (Elevator Pitch)
Alternatives
Designed By:
Date:
Iteration:
DELIVERY
Customer Relationships
Key Activities
Channel
Key Partners
Revenue Model
Market Size / Market Opportunity
www.explorics.com
Cost Model
Key Resources
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13. Lean Tools

14. Lean Tools

15. Lean Start-ups in Practice
Ignition Labs Health & Medtech Accelerator
Australia’s first niche Seed Accelerator program
- Designed to help companies secure initial customers and capital
investment.
This is achieved through:
• 6-month Business Development Program
• Expert Mentors
• $25,000+ Seed Capital
• Investor Roadshow AUS / EU / US
Applications close soon.
www.ignitionlabs.com.au

16. Ignition Labs Health & Medtech Accelerator
Program Sponsors:
Applications close soon. Apply Now.
www.ignitionlabs.com.au