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Lessons Learned by Eric Ries Monday, August 3, 2009 Minimum Viable Product: a guide One of the most important lean startup techniques is called the minimum viable product. I was delighted to be asked to give a brief talk about the MVP at the inaugural meetup of the lean startup circle here in San Francisco.
Creators of new products in environments of extreme uncertainty, startups face enormous risks. Enter “ The Lean Startup: How Today’s Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses “, a New York Times bestseller by founder of IMVU (creator of 3D avatars) Eric Ries.
We had a wide-ranging discussion which included discussions of Eric’s early career (including his failures), how he came to focus on the Lean Startup movement (at the encouragement of Steve Blank who was an investor in the company he co-founded) and what he wants to do next. functional workgroups vs. product workgroups).
Guest post by Lisa Regan, writer for The Lean Startup Conference. As Lean Startup methods have been used now for a number of years, we’ve become increasingly interested in how companies use them to sustain growth. Next Tuesday, October 22 at 10a PT, we’ll take a look at this advanced entrepreneurship question.
Once again, along with my partners at 500 Startups, we are proud to present the most substantive track at SXSW: [link] There was a running joke last year that "the Lean Startup track was the only place at SXSW you couldn't get out of the building." Seth Sternberg Co-Founder & CEO Scott Chacon CIO Kevin Hale Senior Product Manager NEW!
What if we could increase productivity and stave the capital flight by helping Life Sciences startups build their companies more efficiently? For the last two and a half years, we’ve taught hundreds of teams how to commercialize their science with a version of the Lean LaunchPad class called the National Science Foundation Innovation Corps.
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."
Guest post by Lisa Regan, writer for The Lean Startup Conference The Lean Startup Conference is next week--and now that we can step back and see all the speakers and mentors, we have to say: Wow. He’s a founder of Andreessen Horowitz, which has backed Facebook, Skype, Jawbone, and dozens of other companies whose products you use.
Guest post by Lisa Regan, writer for The Lean Startup Conference Eleven months in the making, the full schedule for The Lean Startup Conference is at last complete, and we can’t wait to show you around! For first-time attendees, this conference offers a complete introduction to Lean Startup. But other than that, it’s all there.
Guest post by Jennifer Maerz, contributing editor of Lean Startup Co. It’s been exciting to watch the Lean Startup movement grow from a practice utilized in the tech world to one implemented in a wide variety of sectors ranging from enterprise to education, religious organizations, nonprofits, and government groups.
I'm going to be looking at aspects like: Things to consider before building your MVP Features often overlooked when documenting an MVP for developers Understanding important metrics you want to measure Risks and challenges in developing an MVP. What's Going to Go Wrong A lot of founders don't really understand Lean Startup principles.
This post was written by Sarah Milstein, co-host of The Lean Startup Conference. We’re looking for speakers for the 2013 Lean Startup Conference. If you’re a Lean Startup veteran, feel free to skim the beginning, as this is mostly stuff you already know. Will you be able to think up alternative products? in ten years?
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. Flesh out the specifics with more detailed planning (as necessary).
You need to first create a compelling product. Compelling in the sense that you solve a real problem a target group of potential customers has with a product that is significantly better than the alternatives on that market. You need product / market fit. Product / market fit is everything. ” True.
Over the years Dino and I brainstormed about how Lean entrepreneurship would affect regional development. However, four critical advances over the past decade (cloud, accelerators, Lean, and Angels) not only changed the math for tech investing but made regional tech clusters possible. The Bend Experience. Build $10-30M funds.
Guest post by Lisa Regan, writer for The Lean Startup Conference. Between webcasts and interviews, we’ve been gradually introducing some of the speakers who are appearing at this year’s Lean Startup Conference. ha) take all that data and package it up for politicians, in a product to help them monitor their earned media.We
He nails the current key startup parameters, including the following: Crafting a lean business plan as your road map. Building a minimum viable product, with customer validation. Minimum viable products (MVPs) are recommended for validating the market, with iterative enhancement to quickly meet market feedback.
Starting in 2009, Savoia began using an approach as an engineering director at Google that helped the tech giant know whether it was about to build the right product for the market … or a product that would flop. Having The Right It is essential for the following reason: Most new products and innovations fail in the market.
In the quest for optimization, A/B tests, metrics, and funnels, we're in danger of losing the fun and value of creative work. When we demand overwhelming customer outcry before committing to the slightest product change, we're in danger of losing the value of creating a cool feature that takes too much effort but people just love.
This post was co-written by Eric Ries and Sarah Milstein, co-hosts of The Lean Startup Conference. This year, for the first time, we've added a day of workshops and site visits to The Lean Startup Conference. The Lean Entrepreneur: Embrace the Unknown to Go Big with Patrick Vlaskovits and Brant Cooper.
Imagine the “typical&# deal – somebody comes into a VC’s office, they’ve never met, they’re highly referred by a friend and they’re pitching a product demo and a PPT. If I see your alpha product then I can judge how it develops over time. I’m personally 70% management, 30% product.
Today, I want to introduce a new approach to business planning: Lean Planning. Lean Planning replaces lengthy business plans with a 20-minute planning process that focuses on increasing your chances of success in business. Lean Planning is simpler and faster than writing a traditional business plan. Step 1: Create a Lean Plan.
Long before there was the Lean Startup, Business Model Canvas or Customer Development there was a guy in Santa Barbara California who had already figured it out. Frank Robinson of SyncDev has been helping companies figure out their minimum viable product and pivots since 1984, long before I even knew what it meant. Massacre at IBM.
Also, try using your competitors’ products. Launch a Minimum Viable Product (MVP) quickly: Aim to get something into users’ hands within two months, regardless of the initial state. Avoid excessive iteration before launching, as getting user feedback is crucial. Having growth makes fundraising significantly easier.
The Lean Startup movement has made tremendous progress in the past year. If you recall, around this time last year we were still fighting various myths , such as “ lean means cheap ” or that we don’t support having a big, world-changing vision. No BS, no vanity metrics, no launches, no PR. And those are just our keynotes!
We decided that if we were not going to sell, we were going to really up our game,” says Abbie Moore, chief product officer. The company had no real process in place for developing its product, even as the product was doing well. “We The result was a reframing of how they understood their mission. We were a mess,” says Moore. “We
—– Lean Innovation Management. In the last five years “ Lean Startup ” methodologies have enabled entrepreneurs to efficiently build a startup by searching for product/market fit rather than blindly trying to execute. The result will be: a new, Lean version of the Three Horizons of Innovation. Here’s how.
Guest post by Jennifer Maerz, Program Chair of Lean Startup Co. For eight years, our flagship conference has focused on sharing stories and lessons of putting Lean Startup’s entrepreneurial methodology into practice. Lean Startup Week (Oct. 31 ( limited to the first 200 Gold Passholders.)
I was having coffee with a former student who was complained that my idea of building a first product release with a minimum feature set was a bad idea. he replied, “but when I started talking about our entire vision, he couldn’t wait to help get our product into his company.”. Book of Five Rings. Well he didn’t like it either.”
kaChing has been very active in the Lean Startup movement. With case studies like this, we aim to illustrate specific Lean Startup techniques through the stories of current practitioners. kaChing has been very active in the Lean Startup movement. It was written by Sarah Milstein in collaboration with kaChing CEO Andy Rachleff.
If you buy into the argument that a strong board can actually help you then this post will lay out how to help you have more productive meetings by preparing properly in advance. Often board members themselves don’t do the work to say “what metrics would we like to see.” This is part of a broader series on Board Meetings.
As the engineers were busy rearchitecting the original Stanford MIPS chip into a commercial product, one of my jobs was to find out what features customers wanted. Customer Development is about testing the founder’s hypothesis about what constitutes product/market fit with the minimum feature set.
He nails the current key startup parameters, including the following: Crafting a lean business plan as your road map. Building a minimum viable product, with customer validation. Minimum viable products (MVPs) are recommended for validating the market, with iterative enhancement to quickly meet market feedback.
Lessons Learned by Eric Ries Wednesday, April 7, 2010 Learning is better than optimization (the local maximum problem) Lean startups don’t optimize. At least, not in the traditional sense of trying to squeeze every tenth of a point out of a conversion metric or landing page. Split-testing is great for figuring out which is which.
But, there’s plenty that you can do… if you embrace lean marketing principles. Lean marketing is a philosophy that emphasizes executing campaigns quickly, getting feedback from your audience, analyzing the results, and optimizing the campaign – all in rapid succession. National television campaigns are definitely out.
Taking steering one step further, let’s suggest that good planning, with milestones and metrics, is something like steering with the aid of a GPS. Metrics are like dials on the dashboard, indicators of how you’re doing, tracking your progress toward goals. Metrics give you tracking and accountability.
The art team would often be involved in the specification phase of a new feature, since they were responsible for the look-and-feel of the product. When the art team would review the final product, they were inevitably outraged – it deviated from the spec in ways they considered major.
(One of the common questions I hear is how to reconcile design and user experience (UX) methods with the Lean Startup. 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. Eric) A lot of people ask me whether design fits into the lean startup process.
The work product is a more realistic test, although it requires much more work on the part of the candidate. I already advocate cross-functional teams as part of the lean startup methodology. For more on this subject, take a look at The product managers lament. Beyond hiring, our actual work process matters, too.
The Stanford Lean LaunchPad class was an experiment with a new model of teaching startup entrepreneurship. its product or service) to its customers. Should they create a freemium version of their current product? Our assignment for the teams for next week: What are the key financials metrics for your business model?
Guest post by Lisa Regan, writer for The Lean Startup Conference. How can established companies benefit from implementing Lean Startup? Of course, you can also continue the conversation by attending The Lean Startup Conference. that discretely address specific areas of the production chain.
Most of us need just a Lean Business Plan, for internal use, with just bullet point lists and important projections. Good businesses always keep their Lean Plan up to date. The lean business plan is great news because it makes the planning process much less daunting. More on that in the section on the Lean Plan.
The results of the Customer Development process may indicate that the assumptions about your product, your customers and your market are all wrong. They tell them to persist in their dream of building a great product and/or company, no matter what the odds are or what the market might be telling them – success is just around the corner.
Guest post by Lisa Regan, writer for The Lean Startup Conference. Our fall webcast series concluded on a high note with three extraordinary conversations about the origins and implications of Lean Startup. Classic minimum viable product. Kent’s analysis, which is largely political-process-driven, begins at 41:30.
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