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lE sTTU
fO SmAE IEsTEr  GünDE
Entrepreneur phase
1999
Idéa
Growth phase
Operating phase
Internationalization
Consolidation
2012
214 employees - 8 countries
revenue 200MNOK - valuation 600MNOK
CEO
CTO
CMO
INTERESTS
ENTREPRENEURSHIP
NYSKAPNINGSPARKEN
CONNECT VEST
MENTOR
BUSINESS ANGEL
TECHNOLOGY
INNOVATION
SALESMARKETING STRATEGY
DISRUPTIVE
ENTREPRENEUR
BOARD OF DIRECTORS
INNOVASJON NORGE STARTUP WEEKEND
75%Fails/bankrupt.
Revenue > 1M SEK after 3 years.
9%
sTTuP Vs IsTG CPaNS
The startups starts with an series of unknowns (hypothesis) (mostly)
They Search
Existing companies deal with execution of knows (mostly)
They Execute
The insight is that management tools built to execute don’t work for
searching
Lean Startup is an collection of new tools designed for search mode
a An AUp A RaDIoN cOAN
srAGysrAGy
Business Model
Hypothesis-driven
Business Plan
Implementation-driven
EW RoDT RoCSEW RoDT RoCS
Customer Development
Get out of the office and test hypothesis
Product Management
Prepare offering for market following a linear, step-by-step plan
NgIENgNgIENg
Agile Development
Build the product iteratively and incrementally
Agile or Waterfall Development
Build the product iteratively, or fully specify the product before building it
OrnIzioOrnIzio
Customer and Agile Development Teams
Hire for learning, nimbleness and speed
Departments by Function
Hire for experience and ability to execute
FinCl RerTgFinCl RerTg
Metrics that Matter
Customer acquisition cost, lifetime customer value, churn, viralness
Accounting
Income statement, balance sheet, cash flow statement
FaurFaur
Expected
Fix by iterating on ideas and pivoting away from ones that don’t work
Expection
Fix by firing executives
SpdSpd
Rapid
Operates on good-enough data
Measured
Operates on complete data
Steve Blank, Harvard Business Review 2012
N SRtU Is  tEOrA oRNiZIN
dEGnE To sECh fO A rEAtAE N
sCAL bUNeS MEl.
- Steve Blank
hvor putter vi denne
sliden?
tH LeA StAUp TO
lE sTTuP EtH - 3 CPoNTs
business model design - canvas with testable hypotheses
customer development - get out of the building and test the
hypotheses
agile development - building a minimum viable product (MVP)
UsISs DL EGn
He SiNS MEl NS
dERiB lOCaL W
yO bUNeS WoR oN 
sILe Ge.
AcH OmPEnT OnTNS
a RiE Of PoTSiS HT
yO NeE To St.
Lean Canvas is adapted from The Business Model Canvas (BusinessModelGeneration.com) and is licensed under the Creative Commons Attribution-Share Alike 3.0 Un-ported License.
Problem
Top 3 problems
Existing
Alternatives
Solution
Top 3 features
Unique Value
Proposition
Single, clear
compelling
message that
states why you
are different and
worth buying
High-Level
Concept
Unique Value
Proposition
Single, clear
compelling
message that
states why you
are different and
worth buying
High-Level
Concept
Unfair Advantage
Can’t be easily
copied or bought
Customer
Segments
Target customers
Early Adopters
Problem
Top 3 problems
Existing
Alternatives
Key Metrics
Activity that
drives retention/
revenue
Unique Value
Proposition
Single, clear
compelling
message that
states why you
are different and
worth buying
High-Level
Concept
Unique Value
Proposition
Single, clear
compelling
message that
states why you
are different and
worth buying
High-Level
Concept
Channels
Path to customers
Customer
Segments
Target customers
Early Adopters
Cost Structure
Customer Acquisition Costs
Distribution Costs
Hosting
Staff etc.
Cost Structure
Customer Acquisition Costs
Distribution Costs
Hosting
Staff etc.
Cost Structure
Customer Acquisition Costs
Distribution Costs
Hosting
Staff etc.
Revenue Streams
Revenue Model
Life Time Value
Revenue
Gross Margin
Revenue Streams
Revenue Model
Life Time Value
Revenue
Gross Margin
Revenue Streams
Revenue Model
Life Time Value
Revenue
Gross Margin
1
UsTER EvEPNt
g o o t Budi!
- Steve Blank
2
Search Execute
Problem/Solution
Fit
Product/Market
Fit
Scale
Pivots Optimizations
Validated Learning Revenue & Growth
Method
How to change
Objective
Requirements Development QA Release
ReASt Sk  nO DeVOpMT O NeW RoDTs,
bU DeVOpMT O CuSMeR AnD ArKS.
- Steve Blank
Mt EaRNg PpE Re
TritIAl OdU dELoPNt
V
2 weeks - 2.000$ 9 months - 82.000.000$
GE EvEPNt
TaRPs wAt CcE aR ThO tH mAGe  iTAT
eNGh MeS EfO rUInG Ut  rEUEs.
- Eric Ries
3
Steve Blank, Harvard Business Review 2012
short repeatable cycles
continuously revise MVP
IDEAS
PRODUCTDATA
-- EeDCk Op
BUILD
MEASURE
LEARN
bUD AEr
Unit Tests
Usability Tests
Continuous Integration
Incremental Deployment
Free & Open-Source Components
Cloud Computing
Cluster Immune System
Just-in-time Scalabilty
Refactoring
Developer Sandbox
lEN AEr
Split Tests
Customer Interviews
Customer Development
Five Whys Root Cause Analysis
Customer Advisory Board
Falsifiable Hypotheses
Product Owner Accountability
Customer Archetypes
Cross-functional Teams
Smoke Test
Meur AEr
Split Tests
Clear Product Owner
Continuous Deployment
Usability Tests
Real-time Monitoring
Custom Liason
Funnel Analysis
Cohort Analysis
Net Promoter Score
Search Engine Marketing
Real-time Alterting
Predictive Monitoring Eric Ries / KissMetrics
Wireframes
Prototypes
Landing Pages
Focus Group
cUOmE DeVOpMT
eAY APRs
Ino
HeR ArE O FTs SiD YR
bUDN
OuR SsUTiO mU E
vADaT bY UtU cUORs
Lean Canvas is adapted from The Business Model Canvas (BusinessModelGeneration.com) and is licensed under the Creative Commons Attribution-Share Alike 3.0 Un-ported License.
Problem
Existing
Alternatives
Solution Unique Value
Proposition
High-Level
Concept
Unique Value
Proposition
High-Level
Concept
Unfair Advantage Customer
Segments
Early Adopters
Problem
Existing
Alternatives
Key Metrics
Unique Value
Proposition
High-Level
Concept
Unique Value
Proposition
High-Level
Concept
Channels
Customer
Segments
Early Adopters
Cost StructureCost StructureCost Structure Revenue StreamsRevenue StreamsRevenue Streams
?? ? ? ?
??
? ?
hOw To T IIH?
Talk to customers (interviews)
Landing page experiments
Observe customer using
competing/similar product
Concierge test
Demo/Present your wireframe/
mockups/prototype
Test apps
Crowd-Funding test
He Al AsU oF UcCS I ThE UmB O
eXRiMTs At N B CrOwEd TO 2 HRs.”
-Thomas Alva Edison
cOIGe cRwD FDN
iTAtE R POt
Roleplaying game to Flickr
HotOrNot.com to Facebook
Tune In Hook Up toYoutube
Personal podcasting to Twitter
Cellular Phone for kids to simcard to
Bipper (iphone app)
iTAT -  mIR CNgE N
oN Or Re SiNS MEL
cOONt
pIT - N SStAIE
cHGE i O oR OE
bUNeS MoD cOONt
m - InIM VBlE RoDT
“The minimum viable product is that version of a new product which
allows a team to collect the maximum amount of validated learning
about customers with the least effort."
- Eric Ries
mV TiMIN
Me
low-fidelity
concierge
wireframes
detail
level
customers
type
days
interviews
sketch
high-fidelity
video
prototype
pre-sales
weeks
mockup
letter of intent sell
pixel perfect
finished actual
product
months
ship
effort
roadmap
vision
years
value prop
Ce: Keto
detail
level
customers
type
surveys
effort Q4 2009
value prop
problems
low-fidelity
new sales
complete mvp
finished actual
product
ship
aug 2010
high-fidelity
prototype (40%)
pilot agreement
mockup (60%)
Q1 2010
HF#$#LIMITED#PROTOTYPE#
KEYSTONE(IN(BRIEF(
Keystone(is(a(web(based(control;centre(for((real;=me(monitoring,(management(and((planning(of(equipment(opera=ons(in((the(oil(industry.(
www.keystone.no(
interviews
dRBoX V - 7.00 SNP
https://vimeo.com/65885136
gO TrAIO?
JAN FEB MAR APR MAY JUN AVG
Customer
Meetings
19 24 16 22 19 14 22
New contracts 8 6 8 4 4 4 6
Conversion Rate
(%)
42 % 25 % 50 % 18 % 21 % 29 % 31 %
97,5% retention
Confirms “Product/
Market” fit
wA tO EaR MR?
http://steveblank.com/tools-and-blogs-for-
entrepreneurs/ Steve Blank
http://spark59.com Ash Maurya
http://www.startuplessonslearned.com Eric Ries
http://www.businessmodelgeneration.com Alexander
Osterwalder
ROALD:
FÅR NOE PÅ BERGEN LEAN
STARTUP CIRCLE
LærE Er  EN TaRP?
Utveksle Lean Startup erfaringer med andre?
Lean Startup Circle er under etablering i Bergen.
Registrer deg på
http://www.meetup.com/Lean-Startup-Circle-Bergen
send SMS med kodeord LEAN til 2077
eller
helgeh@gmail.com
http://linkedin.com/in/helgeh
AkK Or G!
"Lean Startup" - for smarte investorer og gründere - Helge Hannisdal @ First Tuesday Bergen

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"Lean Startup" - for smarte investorer og gründere - Helge Hannisdal @ First Tuesday Bergen

  • 1. lE sTTU fO SmAE IEsTEr  GünDE
  • 2. Entrepreneur phase 1999 Idéa Growth phase Operating phase Internationalization Consolidation 2012 214 employees - 8 countries revenue 200MNOK - valuation 600MNOK CEO CTO CMO
  • 3. INTERESTS ENTREPRENEURSHIP NYSKAPNINGSPARKEN CONNECT VEST MENTOR BUSINESS ANGEL TECHNOLOGY INNOVATION SALESMARKETING STRATEGY DISRUPTIVE ENTREPRENEUR BOARD OF DIRECTORS INNOVASJON NORGE STARTUP WEEKEND
  • 4. 75%Fails/bankrupt. Revenue > 1M SEK after 3 years. 9%
  • 5.
  • 6. sTTuP Vs IsTG CPaNS The startups starts with an series of unknowns (hypothesis) (mostly) They Search Existing companies deal with execution of knows (mostly) They Execute The insight is that management tools built to execute don’t work for searching Lean Startup is an collection of new tools designed for search mode
  • 7. a An AUp A RaDIoN cOAN srAGysrAGy Business Model Hypothesis-driven Business Plan Implementation-driven EW RoDT RoCSEW RoDT RoCS Customer Development Get out of the office and test hypothesis Product Management Prepare offering for market following a linear, step-by-step plan NgIENgNgIENg Agile Development Build the product iteratively and incrementally Agile or Waterfall Development Build the product iteratively, or fully specify the product before building it OrnIzioOrnIzio Customer and Agile Development Teams Hire for learning, nimbleness and speed Departments by Function Hire for experience and ability to execute FinCl RerTgFinCl RerTg Metrics that Matter Customer acquisition cost, lifetime customer value, churn, viralness Accounting Income statement, balance sheet, cash flow statement FaurFaur Expected Fix by iterating on ideas and pivoting away from ones that don’t work Expection Fix by firing executives SpdSpd Rapid Operates on good-enough data Measured Operates on complete data Steve Blank, Harvard Business Review 2012
  • 8. N SRtU Is  tEOrA oRNiZIN dEGnE To sECh fO A rEAtAE N sCAL bUNeS MEl. - Steve Blank hvor putter vi denne sliden?
  • 9. tH LeA StAUp TO
  • 10. lE sTTuP EtH - 3 CPoNTs business model design - canvas with testable hypotheses customer development - get out of the building and test the hypotheses agile development - building a minimum viable product (MVP)
  • 11. UsISs DL EGn He SiNS MEl NS dERiB lOCaL W yO bUNeS WoR oN  sILe Ge. AcH OmPEnT OnTNS a RiE Of PoTSiS HT yO NeE To St. Lean Canvas is adapted from The Business Model Canvas (BusinessModelGeneration.com) and is licensed under the Creative Commons Attribution-Share Alike 3.0 Un-ported License. Problem Top 3 problems Existing Alternatives Solution Top 3 features Unique Value Proposition Single, clear compelling message that states why you are different and worth buying High-Level Concept Unique Value Proposition Single, clear compelling message that states why you are different and worth buying High-Level Concept Unfair Advantage Can’t be easily copied or bought Customer Segments Target customers Early Adopters Problem Top 3 problems Existing Alternatives Key Metrics Activity that drives retention/ revenue Unique Value Proposition Single, clear compelling message that states why you are different and worth buying High-Level Concept Unique Value Proposition Single, clear compelling message that states why you are different and worth buying High-Level Concept Channels Path to customers Customer Segments Target customers Early Adopters Cost Structure Customer Acquisition Costs Distribution Costs Hosting Staff etc. Cost Structure Customer Acquisition Costs Distribution Costs Hosting Staff etc. Cost Structure Customer Acquisition Costs Distribution Costs Hosting Staff etc. Revenue Streams Revenue Model Life Time Value Revenue Gross Margin Revenue Streams Revenue Model Life Time Value Revenue Gross Margin Revenue Streams Revenue Model Life Time Value Revenue Gross Margin 1
  • 12. UsTER EvEPNt g o o t Budi! - Steve Blank 2 Search Execute Problem/Solution Fit Product/Market Fit Scale Pivots Optimizations Validated Learning Revenue & Growth Method How to change Objective
  • 13. Requirements Development QA Release ReASt Sk  nO DeVOpMT O NeW RoDTs, bU DeVOpMT O CuSMeR AnD ArKS. - Steve Blank Mt EaRNg PpE Re TritIAl OdU dELoPNt
  • 14. V 2 weeks - 2.000$ 9 months - 82.000.000$
  • 15. GE EvEPNt TaRPs wAt CcE aR ThO tH mAGe  iTAT eNGh MeS EfO rUInG Ut  rEUEs. - Eric Ries 3 Steve Blank, Harvard Business Review 2012 short repeatable cycles continuously revise MVP
  • 16. IDEAS PRODUCTDATA -- EeDCk Op BUILD MEASURE LEARN bUD AEr Unit Tests Usability Tests Continuous Integration Incremental Deployment Free & Open-Source Components Cloud Computing Cluster Immune System Just-in-time Scalabilty Refactoring Developer Sandbox lEN AEr Split Tests Customer Interviews Customer Development Five Whys Root Cause Analysis Customer Advisory Board Falsifiable Hypotheses Product Owner Accountability Customer Archetypes Cross-functional Teams Smoke Test Meur AEr Split Tests Clear Product Owner Continuous Deployment Usability Tests Real-time Monitoring Custom Liason Funnel Analysis Cohort Analysis Net Promoter Score Search Engine Marketing Real-time Alterting Predictive Monitoring Eric Ries / KissMetrics Wireframes Prototypes Landing Pages Focus Group
  • 19. Ino HeR ArE O FTs SiD YR bUDN OuR SsUTiO mU E vADaT bY UtU cUORs Lean Canvas is adapted from The Business Model Canvas (BusinessModelGeneration.com) and is licensed under the Creative Commons Attribution-Share Alike 3.0 Un-ported License. Problem Existing Alternatives Solution Unique Value Proposition High-Level Concept Unique Value Proposition High-Level Concept Unfair Advantage Customer Segments Early Adopters Problem Existing Alternatives Key Metrics Unique Value Proposition High-Level Concept Unique Value Proposition High-Level Concept Channels Customer Segments Early Adopters Cost StructureCost StructureCost Structure Revenue StreamsRevenue StreamsRevenue Streams ?? ? ? ? ?? ? ?
  • 20.
  • 21. hOw To T IIH? Talk to customers (interviews) Landing page experiments Observe customer using competing/similar product Concierge test Demo/Present your wireframe/ mockups/prototype Test apps Crowd-Funding test He Al AsU oF UcCS I ThE UmB O eXRiMTs At N B CrOwEd TO 2 HRs.” -Thomas Alva Edison
  • 23. iTAtE R POt Roleplaying game to Flickr HotOrNot.com to Facebook Tune In Hook Up toYoutube Personal podcasting to Twitter Cellular Phone for kids to simcard to Bipper (iphone app) iTAT -  mIR CNgE N oN Or Re SiNS MEL cOONt pIT - N SStAIE cHGE i O oR OE bUNeS MoD cOONt
  • 24. m - InIM VBlE RoDT
  • 25. “The minimum viable product is that version of a new product which allows a team to collect the maximum amount of validated learning about customers with the least effort." - Eric Ries
  • 27. Ce: Keto detail level customers type surveys effort Q4 2009 value prop problems low-fidelity new sales complete mvp finished actual product ship aug 2010 high-fidelity prototype (40%) pilot agreement mockup (60%) Q1 2010 HF#$#LIMITED#PROTOTYPE# KEYSTONE(IN(BRIEF( Keystone(is(a(web(based(control;centre(for((real;=me(monitoring,(management(and((planning(of(equipment(opera=ons(in((the(oil(industry.( www.keystone.no( interviews
  • 28. dRBoX V - 7.00 SNP https://vimeo.com/65885136
  • 29. gO TrAIO? JAN FEB MAR APR MAY JUN AVG Customer Meetings 19 24 16 22 19 14 22 New contracts 8 6 8 4 4 4 6 Conversion Rate (%) 42 % 25 % 50 % 18 % 21 % 29 % 31 % 97,5% retention Confirms “Product/ Market” fit
  • 30. wA tO EaR MR? http://steveblank.com/tools-and-blogs-for- entrepreneurs/ Steve Blank http://spark59.com Ash Maurya http://www.startuplessonslearned.com Eric Ries http://www.businessmodelgeneration.com Alexander Osterwalder ROALD: FÅR NOE PÅ BERGEN LEAN STARTUP CIRCLE
  • 31. LærE Er  EN TaRP? Utveksle Lean Startup erfaringer med andre? Lean Startup Circle er under etablering i Bergen. Registrer deg på http://www.meetup.com/Lean-Startup-Circle-Bergen send SMS med kodeord LEAN til 2077 eller