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2010 09 23 lean startup for true ventures

Presentation for True Ventures Founder Camp by Eric Ries on Sep 23, 2010

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2010 09 23 lean startup for true ventures

  1. The Lean Startup & Continuous Deployment#leanstartup<br />“Innovation through experimentation”<br />Eric Ries (@ericries)<br />http://StartupLessonsLearned.com<br />
  3. Myth #1<br />Myth<br />Lean means cheap. Lean startups try to spend as little money as possible.<br />Truth The Lean Startup method is not about cost, it is about speed. <br />
  4. Myth #2<br />Myth<br />The Lean Startup is only for Web 2.0/internet/consumer software companies.<br />Truth The Lean Startup applies to all companies that face uncertainty about what customers will want. <br />
  5. Myth #3<br />Myth<br />Lean Startups are small bootstrapped startups.<br />Truth Lean Startups are ambitious and are able<br /> to deploy large amounts of capital. <br />
  6. Myth #4<br />Myth<br />Lean Startups replace vision with dataor customer feedback.<br />Truth Lean Startups are driven by a compelling vision, and are rigorous about testing each element of this vision<br />
  7. Most Startups Fail<br />
  8. Most Startups Fail<br />
  9. Most Startups Fail<br />
  10. What is a startup?<br /><ul><li>A startup is a human institution designed to deliver a new product or service under conditions of extreme uncertainty.
  11. Nothing to do with size of company, sector of the economy, or industry</li></li></ul><li>What is a startup?<br />STARTUP <br />=<br />EXPERIMENT<br />
  12. Entrepreneurship is management<br /><ul><li>Our goal is to create an institution, not just a product
  13. Traditional management practices fail</li></ul>- “general management” as taught to MBAs<br /><ul><li>Need practices and principles geared to the startup context of extreme uncertainty
  14. Not just for “two guys in a garage”</li></li></ul><li>The Pivot<br />
  15. I’<br />
  16. The Pivot<br /><ul><li>What do successful startups have in common?
  17. They started out as digital cash for PDAs, but evolved into online payments for eBay.
  18. They started building BASIC interpreters, but evolved into the world's largest operating systems monopoly.
  19. They were shocked to discover their online games company was actually a photo-sharing site.
  20. Pivot: change directions but stay grounded in what we’ve learned. </li></li></ul><li>Speed Wins<br />If we can reduce the time between pivots<br />We can increase our odds of success<br />Before we run out of money<br />
  21. Making Progress<br /><ul><li>In a lean transformation, question #1 is – which activities are value-creating and which are waste?
  22. In traditional business, value is created by delivering products or services to customers
  23. In a startup, the product and customer are unknowns. We need a new definition of value for startups: validated learning</li></li></ul><li>Traditional Product DevelopmentUnit of Progress: Advance to Next Stage<br />Waterfall<br />Requirements<br />Specifications<br />Design<br />Problem: known<br />Solution:known<br />Implementation<br />Verification<br />Maintenance<br />
  24. Agile Product DevelopmentUnit of Progress: A line of Working Code<br />“Product Owner” or in-house customer<br />Problem: known<br />Solution:unknown<br />
  25. Lean StartupUnit of Progress: Validated Learning($$$)<br />Customer Development<br />Hypotheses, Experiments,<br />Insights<br />Problem:unknown<br />Data, Feedback,<br />Insights<br />Solution:unknown<br />Agile Development<br />
  26. Minimize TOTAL time through the loop<br />
  27. Continuous Deployment<br />Learn Faster<br />Customer Development<br />Five Whys<br />Build Faster<br />Continuous Deployment<br />Small Batches<br />Minimum Viable Product<br />Refactoring<br />Measure Faster<br />Split Testing<br />Actionable Metrics<br />Net Promoter Score<br />SEM <br />
  28. Continuous Deployment Principles<br />Have every problem once<br />Stop the line when anything fails<br />Fast response over prevention<br />
  29. Continuous Deployment<br /><ul><li>Deploy new software quickly
  30. At IMVU time from check-in to production = 20 minutes
  31. Tell a good change from a bad change (quickly)
  32. Revert a bad change quickly
  33. And “shut down the line”
  34. Work in small batches
  35. At IMVU, a large batch = 3 days worth of work
  36. Break large projects down into small batches</li></li></ul><li>Cluster Immune SystemWhat it looks like to ship one piece of code to production:<br /><ul><li>Run tests locally (SimpleTest, Selenium)
  37. Everyone has a complete sandbox
  38. Continuous Integration Server (BuildBot)
  39. All tests must pass or “shut down the line”
  40. Automatic feedback if the team is going too fast
  41. Incremental deploy
  42. Monitor cluster and business metrics in real-time
  43. Reject changes that move metrics out-of-bounds
  44. Alerting & Predictive monitoring (Nagios)
  45. Monitor all metrics that stakeholders care about
  46. If any metric goes out-of-bounds, wake somebody up
  47. Use historical trends to predict acceptable bounds
  48. When customers see a failure
  49. Fix the problem for customers
  50. Improve your defenses at each level</li></li></ul><li>Continuous Deployment<br />http://ericri.es/bdqbvY<br />http://www.startuplessonslearned.com/<br />
  51. There’s much more…<br />Build Faster<br />Unit Tests<br />Usability Tests<br />Continuous Integration<br />Incremental Deployment<br />Free & Open-Source<br />Cloud Computing<br />Cluster Immune System<br />Just-in-time Scalability<br />Refactoring<br />Developer Sandbox<br />Minimum Viable Product<br />Learn Faster<br />Split Tests<br />Customer Development<br />Five Whys<br />Customer Advisory Board<br />Falsifiable Hypotheses<br />Product Owner<br />Accountability<br />Customer Archetypes<br />Cross-functional Teams<br />Semi-autonomous Teams<br />Smoke Tests<br />Measure Faster<br />Funnel Analysis<br />Cohort Analysis<br />Net Promoter Score<br />Search Engine Marketing<br />Predictive Monitoring<br />Measure Faster<br />Split Tests<br />Continuous Deployment<br />Usability Tests<br />Real-time Monitoring & Alerting<br />Customer Liaison<br />
  53. Thanks!<br /><ul><li>Startup Lessons Learned Blog
  54. http://StartupLessonsLearned.com
  55. Getting in touch (#leanstartup)
  56. http://twitter.com/ericries
  57. eric@theleanstartup.com
  58. Additional resources
  59. Lean Startup Wiki http://leanstartup.pbworks.com
  60. Lean Startup Circle http://leanstartupcircle.com</li>