This document discusses the principles of lean startup applied to building new products for new markets. It summarizes 5 key principles: 1) Eliminate waste, 2) Start small, 3) Deeply understand customers, 4) Take a scientific approach, and 5) Focus and get things done. For each principle, it provides explanation and examples to illustrate how to apply the lean startup methodology through minimizing risks, learning quickly, and iterating products rapidly based on customer feedback.

1. Lean Startup Applied
Building New Products
for New Markets
Abby Fichtner
@HackerChick | Harvard Innovation Lab | http://HackerChick.com

2. @HackerChick
"If you only do things where you know the
answer in advance, your company goes away."
Jeff Bezos, Amazon@HackerChick

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4. @HackerChick Minority Report

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8. @HackerChick Urbee 2

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The first rule of innovation
is:
NO RULES
there are
of innovation

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I have not failed. I’ve just found
10,000 ways that won’t work.
- Thomas Edison

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#1 Eliminate Waste
Innovation Rules
#5 FOCUS! and get shit done
#2 Start Small
#3 Deeply Understand Customers
#4 Take a Scientific Approach

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Eliminate
Waste
#1

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The
#1most important thing for a startup
is:
value Vs.
waste
Eric Reis, The Lean Startup

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muda
any activity that is unproductive or that
doesn’t add value today

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out of9
new products
fail
10

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Single Biggest Predictor of Failure?
Don Sull, The Upside of Turbulence

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Single Biggest Predictor of Failure?
Don Sull, The Upside of Turbulence
Sticking to Initial Business Plan

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Small
Start
#2

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Go Big
or go home

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GoBig
VISION

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VISION REALITY

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GO SMALL
(dominate small market)
GoBig
VISION

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Deeply Understand
Customers
#3

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market
team
product

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market
team
product

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VC: “There are a million cloud storage startups!”
Drew: “Do you use any of them?”
VC: “No”
Drew: “…”

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How do you find
your people?

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10 100

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What one thing
are they dying for?

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How are they solving that
need today?

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Take a
Scientific
#4
approach

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“Talk is cheap. Show me the code.”
- Linus Torvalds
MVP

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Would you like recommendations
for a hotel?
Yes No
Would you like recommendations
for a hotel?
No

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Would you like recommendations
for a hotel?
Yes No
Would you like recommendations
for a hotel?
Yes No

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ERROR:
SYSTEM UNAVAILABLE

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FOCUS!and get shit done
#5

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What’s most important
today?

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Phase 1:
Validate Idea

64. @HackerChick Lean Canvas

65. @HackerChick Lean Canvas
Product

66. @HackerChick Lean Canvas
Product Market

67. @HackerChick Lean Canvas
Product Market
When you eat Six
Foods, you are
doing what is better
for your health &
better for the world

68. @HackerChick Lean Canvas
Product Market
$$$

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What are my
?
riskiest
assumptions

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Phase 2:
Build

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Minimum
Viable
Product

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Minimum
Viable
Process

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Just In Time
Process

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KISS
(Do the Simplest Thing That
Could Possibly Work)

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To Do In Progress Done
X
Y
Z
A

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To Do In Progress Done
X
Y
Z
A
B
C
D
E
F
G
H
J
K
M
N
O
P
Q
R

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Kanban
Get stuff done
To Do In Progress Done
X
Y
Z
A
B
C
D
E
F
G
H
J
K
M
N
O
P
Q
R
1

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Kanban
Get stuff done
To Do In Progress Done
X
Y
Z
A
1
B
C
D
E
F
G
H
J
K
M
N
O
P
Q
R

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Kanban
Get stuff done
To Do In Progress Done
X
Y
Z
A
1
(keep short)
B
C
D
E
F
G
H
J
K
M
N
O
P
Q
R

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Kanban
Get stuff done
To Do In Progress Done
X
Y
Z
1
A
B
C
D
E
F
G
H
J
K
M
N
O
P
Q
R

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Kanban
Get stuff done
To Do In Progress Done
X
Y
Z
1
A
B
C
D
E
F
G
H
J
K
M
N
O
P
Q
R
10

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Kanban
Get stuff done
To Do In Progress Done
1
A
10
X
Y
Z

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Minimum
Viable
Design

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Emergent
Design

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Refactor!

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Maximize
Learning

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Requirements Develop ReleaseQA
How can we maximize learning / success?

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Requirements Develop ReleaseQA
Some learning
(talk to people)
How can we maximize learning / success?

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Requirements Develop ReleaseQA
Some learning
(talk to people)
Most learning
(see what they do!)
How can we maximize learning / success?

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Requirements Develop ReleaseQA
Some learning
(talk to people)
Most learning
(see what they do!)
| ------------ Very little learning ------------ |
How can we maximize learning / success?

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Requirements Release
Some learning
(talk to people)
Most learning
(see what they do!)
Continuous
Delivery
How can we maximize learning / success?

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Learn From Your Releases
Only go as fast as you can learn
To Do In Progress Done
1
C
10
X
Y
Z
A
B
Learning

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Learn From Your Releases
Only go as fast as you can learn
To Do In Progress Done
1
C
10
X
Y
Z
A
B
Learning

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Learn From Your Releases
Only go as fast as you can learn
To Do In Progress Done
1
C
10
X
Y
Z
A
B
Learning
10

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Patterns of Innovation
#1 Eliminate Waste
#5 FOCUS! and get shit done
#2 Start Small
#3 Deeply Understand Customers
#4 Take a Scientific Approach

100. Abby Fichtner
@HackerChick
abby@hackerchick.com
http://HackerChick.com
Thanks!