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What metrics do we use to see if we learned enough in Customer Discovery ? I gave my boilerplate answer, “I’m a product guy and I tend to invest and look at deals that have measurable revenue metrics. However the Customer Development Model and the Lean Startup work equally well for startups on the web.
Today, I want to introduce you to a new concept for starting and growing successful companies: Lean Planning™. Before I dive too deeply into the Lean Planning methodology, it makes sense to talk about its history and where it comes from. Lean Planning is born. At the time, we used Business Plan Pro and Basecamp for this.
Your presentation doesn’t have a single word about Lean Startups or Customer Development. Reply Charlie Crystle , on April 8, 2010 at 12:31 pm Said: brilliant post. All the best, Mark Reply Lisa Hjorten , on April 22, 2010 at 1:34 pm Said: Great post, it made me feel even more confident about my current approach which is 1.
Deena , on July 19, 2010 at 8:27 pm Said: Mark – thanks for the awesome summary of the grey areas with customer development. steveblank , on September 7, 2010 at 11:00 pm Said: Mark, You’ve just listed the reasons why startups are not done by accountants with spreadsheets. It’s an art.
My own metric is that you need experience >= 1.5 We could for example, find warning signs in popular literature about e.g. finance suggesting rapid maturation in bond trading. Warning sign? Say 40 years = 20 years real direct experience. At best. ~ Is 20 years enough? times the last whole business and credit cycle.
If you somehow missed SLLCONF 2010 , you can get caught up with a complete video recording here.) The Lean Startup movement has made tremendous progress in the past year. It may be hard to remember that there was a time when people in the agile software development community thought Lean Startup was incompatible with agile practices.
And the results weren’t the traditional PR metrics of number of articles or inches of ink. We were constantly creating metrics to see the effects of different PR messages, channels and audiences on end-user purchases. steve Joshua , on January 5, 2010 at 3:19 pm Said: Fantastic entry, thanks very much Steve.
Startup Killer: the Cost of Customer Acquisition | For Entrepreneurs , February 2, 2010 Looks at the critical equation around customer acquisition cost vs. customer lifetime value similar to what I discussed in Startup Metrics but in more depth. Great stuff. This post looks at the implementation details of HTML 5 video.
You don't have an "edge" just because you're passionate, hard-working, or "lean.". On the surface, it's yet another "marketing metrics" company. Office 2010 will be the end of Zoho, if we stop innovating, stop being nimble and flexible in our business model. Anything you read on popular blogs is also read by everyone else.
Metrics – Mine is Bigger Than Yours The first thing SuperMac needed to do was to change how our potential color desktop publishing customers viewed our products versus our competitors’ products. As hokey as it is, when confronted with uncertainty or unknowns, human beings like to be reassured by comparative metrics.
(One of the common questions I hear is how to reconcile design and user experience (UX) methods with the Lean Startup. The attendees at sllconf 2010 were wowed by Food on the Table's presentation. Manuel Rosso was IMVU's first VP of Marketing, and is now CEO of Food on the Table , one of the leading lean startups in Austin.
Thank you, 2010. I can't believe a whole year has passed since I wrote a blog post called " Towards a new entrepreneurship " laying out my priorities for 2010. My belief is that the lean startup is that theory. Lean Startup Meetups are now in more than 75 cities, with more than 12,000 combined members. Verdict: FAILURE.
When we looked at the color graphics board market, our competitors had defined the market as one measured by technical metrics: screen resolution, number of bits of color, screen refresh rates, acceleration, etc. It didn’t take much imagination to realize that what we had to do was to tell our story around one key metric performance ?
The notion of “Market Type&# is there so startups have a metric of when to spend marketing and sales dollars. Reply 4 Anti-Lean Startup Archetypes at Market By Numbers , on August 4, 2009 at 11:30 am Said: [.] In this case you spend every sales and marketing dollar you can get your hands on to take market share.
Reply conversationalistOU812 , on November 9, 2009 at 10:31 am Said: Dmitriy is right – we should ban the use of industry buzzwords like “verticals&# , “metrics&# and “horizontals&# altogether. Reply dv , on June 11, 2010 at 12:23 am Said: Why are you getting stuck on a word?
It has replaced how to write a business plan with hands-on Lean Startup methods. Berkeley in 2010 to run the Lester Center for Entrepreneurship in the Haas School of Business we were teaching entrepreneurship the same way as when I was a student back in 1995. The Lean LaunchPad was unlike any class I’d ever seen.
And the final lesson was that we were keeping score on our packaging with the wrong metrics – it wasn’t about awards, it was about sales in the retail channel. We had been outsourcing an important part of our demand creation strategy – packaging – to an outside agency without having the expertise to judge or manage the results.
His most recent company, Filtrbox, participated in the inaugural Techstars class (Techstars Boulder 2007) and was a win for all parties involved; Filtrbox was acquired in 2010 by Jive Software (NASDAQ: JIVE). No updates, screen comps, or metrics have been publicly shared yet. Three months in, the burn is now at $70k/month.
Mike Subelskys Blog Wednesday, November 11, 2009 Lean startup tools for Rails apps A few months ago I was invited to dinner with the Geeks on a Plane crew when they stopped in Washington, and had the opportunity to meet one of my heroes, Eric Ries , author of the Startup Lessons Learned blog. March 8, 2010 9:25 PM Anonymoussaid.
Step 1: Start with a lean plan. It’s the fastest way to get your idea onto paper, and it’s the very first step in the lean planning process, which is much easier and more iterative than traditional business planning methods. Introducing Lean Planning: How to Plan Less and Grow Faster. How to Write a Traditional Business Plan.
Dave McClure, “Startup Metrics for Pirates”, [link]. What are the key financials metrics for your business model? What are the key financials metrics for costs in your business model? ——————– Mentor List (as of Dec 3 rd 2010). If non-web, build demand creation budget and forecast.
Guest post by Ben Yoskovitz, the co-author of Lean Analytics , a new book on how to use analytics successfully in your business. Unfortunately, due in part to the popularity of Lean Startup and the concepts it promotes, the pivot has been bastardized to the point where it doesn’t mean much to people anymore. Was it a lazy pivot?
Greater discipline during boom times offered more flexibility during lean years. And getting it right during the lean years, Bain reports , has a massive impact on companies’ growth rate after things improve: ( Image source ). As the recession wrapped up, they had to remind consumers of lean times. recession in 2009.”.
On October 27, 2010 I wrote a blog post about the “ 57 Things I Learned Founding 3 Tech Companies.”. Find one person, make them your sherpa, and lean on them. I’ve leaned on Allen Morgan for the last 8 years through 4 companies and all sorts of ups and downs and twist and turns. Fab.com Fab Feed Bradfords Blog. Connect With Me.
Having a valid metric of when corner cases become truly important is a great way of avoiding people destroying ideas before they have a chance to come to fruition, simply because of corner cases that may or may not have major impact. The problem is that it takes experience to know what is exceptional and what is probable.
In future posts I’ll describe how Eric Ries and the Lean Startup concept provided the equivalent model for product development activities inside the building and neatly integrates customer and agile development. Not All Startups Are Alike There’s an urban legend that Eskimos-Aleuts have more words to describe snow than other cultures.
First Round became a very active investor in consumer internet and e-commerce, on a rather lean investment budget, with several notable exits (including Mint.com to Intuit in 2009 for $170M). In its first 2-3 years, YC was viewed as a rather risky experiment in “spray-and-pray” investing, and PG was viewed as a maverick.
The class of 2010 is a cohort, because every student in the group graduated in 2010. As the above chart shows, we can compare the average income of the class of 2010 and 2011 over the same relative interval (5 years after graduation) for an apple-to-apples comparison. Will this cohort help me improve that metric?”.
skip to main | skip to sidebar Users Know Pages Home About Users Know Speaking Engagements Monday, April 19, 2010 6 Questions To Ask Before Launching a New Feature There are a lot of things to pay attention to when you’re launching a new feature. How Am I Going to Get Feedback on this Feature?
2010 – Sean Ellis, who currently runs Qualaroo , coins the term “growth hacking” in his article, Find a Growth Hacker for Your Startup. Back then, he defined a “growth hacker” as, “[…] a person whose true north is growth. . “Growth hackers have a passion for tracking and moving a metric.
I’m currently at LeanCamp , the unconference that aspires to help people both learn and teach evrerything Lean Startup related. Topics include sessions such as startup fundraising, customer development, business model generation, lean startup metrics, visual note taking and much more: [link]. What is Leancamp?
With Airbnb’s IPO, I thought the time was right to take a look back at the past decade (Greylock led Airbnb’s Series A in November 2010) and reflect on what I learned from the journey. And if the reference checks come back positively, then if I believe at startup is a good opportunity, I can lean in right away.
Lessons Learned by Eric Ries Monday, September 8, 2008 The lean startup Ive been thinking for some time about a term that could encapsulate trends that are changing the startup landscape. After some trial and error, Ive settled on the Lean Startup. I like the term because of two connotations: Lean in the sense of low-burn.
Lessons Learned by Eric Ries Wednesday, December 23, 2009 Why vanity metrics are dangerous In a previous post, I defined two kinds of metrics: vanity metrics and actionable metrics. In this post, Id like to talk about the perils of vanity metrics. My personal favorite vanity metrics is "hits."
Lessons Learned by Eric Ries Wednesday, December 16, 2009 What is Lean about the Lean Startup? The first step in a lean transformation is learning to tell the difference between value-added activities and waste. I was giving my first-ever webcast on the lean startup. This value is evident in Lean Startups.
Of all the tactics I have advocated as part of the lean startup , none has provoked as many extreme reactions as continuous deployment , a process that allows companies to release software in minutes instead of days, weeks, or months. January 29, 2010 11:18 AM Eric said. > January 29, 2010 12:55 PM Gareth Evans said.
Lessons Learned by Eric Ries Monday, September 27, 2010 Good enough never is (or is it?) Lean manufacturing , agile software development , and Theory of Constraints are all examples of this idea in action. No vanity metrics should be looked at. I won’t apologize for this aspect of the Lean Startup methodology.
I hope to show why lean and agile techniques actually reduce the negative impacts of technical debt and increase our ability to take advantage of its positive effects. Lean vs. debt In the world of physical goods, the leaner a supply chain is, the less debt is required to operate it. A similar relationship applies to technical debt.
Lessons Learned by Eric Ries Monday, September 15, 2008 The one line split-test, or how to A/B all the time Split-testing is a core lean startup discipline, and its one of those rare topics that comes up just as often in a technical context as in a business-oriented one when Im talking to startups. Thanks for writing this article.
Lessons Learned by Eric Ries Thursday, July 2, 2009 How to conduct a Five Whys root cause analysis In the lean startup workshops , we’ve spent a lot of time discussing the technique of Five Whys. My intention is to describe a full working process, similar to what I’ve seen at IMVU and other lean startups. Expo SF (May.
Lessons Learned by Eric Ries Monday, February 22, 2010 Why diversity matters (the meritocracy business) Diversity is the canary in the coal mine for meritocracy. I already advocate cross-functional teams as part of the lean startup methodology. I already advocate cross-functional teams as part of the lean startup methodology.
Because five whys kept turning up a few key metrics that were hard to set static thresholds for, we even had a dynamic prediction algorithm that would make forecasts based on past data, and fire alerts if the metric ever went out of its normal bounds. The Lean Startup Intensive is tomorrow at Web 2.0. Expo SF (May.
One of the most common questions I get about the lean startup methodology is, "but what about Steve Jobs ?" So how do you reconcile his success with the lean startup, which seems to suggest the opposite?" Plus, the premise of the question misunderstands the lean startup, too. And he doesnt shy away from big-bang launch events.
I now believe that the "pick two" concept is fundamentally flawed, and that lean startups can achieve all three simultaneously: quickly bring high-quality software to market at low cost. Any advise on how the decision to rewrite may change for lean startups? The Lean Startup Intensive is tomorrow at Web 2.0. Expo SF (May.
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