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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 Saturday, September 13, 2008 SEM on five dollars a day How do you build a new product with constant customer feedback while simultaneously staying under the radar? SEM is a simple idea. In a mature company with a mature product, the goal is to pay for lots of people to come to your website.
Not because they didn’t want to do Pay-per-click (they are huge buyers of SEM) but because they didn’t want other people to know what they paid for clicks! He wanted to build direct customer relationships to get product feedback but only 2% of customers would ever return their registration cards. Test monetization early.
You get increasing growth by optimizing the viral loop , and you get revenue as a side-effect, assuming you have even the most anemic monetization scheme baked into your product. Paid - if your product monetizes customers better than your competitors, you have the opportunity to use your lifetime value advantage to drive growth.
This post describes how following the traditional product development can lead to a “startup death spiral.&# In the next posts that follow, I’ll describe how this model’s failures led to the Customer Development Model – offering a new way to approach startup sales and marketing activities. The board raises a collective eyebrow.
Thats the conclusion Ive come to after watching tons of online products fail for a complete lack of customers. Our goal is to find out whether customers are interested in your product by offering to give (or even sell) it to them, and then failing to deliver on that promise. Nothing made any difference. Just put in your credit card.
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. First of all, why split-test?
Platform selection and technical design - if your business strategy is to create a low-burn, highly iterative lean startup, youd better be using foundational tools that make that easy rather than hard. But I think in a lean startup, the development methodology is too important to be considered "just management." I dont think so.
In a startup, both the problem and solution are unknown, and the key to success is building an integrated team that includes product development in the feedback loop with customers. One major theory that has influenced the way I think about processes comes from Lean Manufacturing , where they use these same techniques to build cars.
I am convinced one of Joel Spolskys lasting contributions to the field of managing software teams will turn out to be the Joel Test , a checklist of 12 essential practices that you could use to rate the effectiveness of a software product development team. He wrote it in 2000, and as far as I know has never updated it.
Announce a new product, start its PR campaign, and engage in buzz marketing activities. Marketing launch) Make a new product available to customers in the general public. Product launch) In todays world, there is no reason you have to do these two things at the same time. Establish credibility with potential partners.
Its inspired by the classic OODA Loop and is really just a simplified version of that concept, applied specifically to creating a software product development team. There are three stages: We start with ideas about what our product could be. The Lean Startup Intensive is tomorrow at Web 2.0. Expo SF (May.
The Lean Startup Intensive is tomorrow at Web 2.0. ► April (11) Video update on the Startup Visa Act Lean Enterprise Institute webinar, April 28 Four myths about the Lean Startup Sneak preview, KISSmetrics (and more) Sneak preview, Grockit The Lean Startup Intensive at Web 2.0 Expo SF (May.
You can find out what it would take for them to adopt your product, and then follow up a week later and see if they did. Same with finding out what it would take to get them to recommend your product to a friend. Lean Start-up SlideShare prez at Web 2.0 You can even meet the friend. can I talk to them?" More of the same.
Lessons Learned by Eric Ries Saturday, February 28, 2009 Throwing away working code Lean startups work by systematically eradicating waste. But lean startups cant afford to be satisfied with just that definition, because there are situations where working code is itself a form of waste. Pretty soon we ran out of friends.
In the very early days, the trick is to find anyone at all who can understand you when you are talking about your product. In our first year at IMVU, we thought we were building a 3D avatar chat product. As product people, we thought of competition in terms of features. The Lean Startup Intensive is tomorrow at Web 2.0.
0comments: Post a Comment Newer Post Older Post Home Subscribe to: Post Comments (Atom) Subscribe via email Blog Archive ► 2010 (48) ► October (3) Case Study: Rapid iteration with hardware The Lean Startup Bundle Stop lying on stage ► September (4) Good enough never is (or is it?) Expo SF (May. for Harvard Business Revie.
Many of them have really cool products shipping or about to be released, and I wholeheartedly agree with my friends at the iFund that the next generation of applications is going to be amazing. The store determines which products sit on which shelves, and which yours sits next to. Ive also been playing around with the App Store.
Lessons Learned by Eric Ries Sunday, September 28, 2008 The lean startup comes to Stanford Im going to be talking about lean startups (and the IMVU case in particular) three times in the next two weeks at Stanford. Labels: events , lean startup 5comments: Hitchens said. The Lean Startup Intensive is tomorrow at Web 2.0.
Lessons Learned by Eric Ries Monday, September 22, 2008 Thoughts on scientific product development I enjoyed reading a post today from Laserlike (Mike Speiser), on Scientific product development. I agree with the less is more product development approach, but for a different reason. So dont just kill the feature - iterate.
October 13, 2008 9:44 PM Post a Comment Newer Post Older Post Home Subscribe to: Post Comments (Atom) Subscribe via email Blog Archive ► 2010 (48) ► October (3) Case Study: Rapid iteration with hardware The Lean Startup Bundle Stop lying on stage ► September (4) Good enough never is (or is it?) Expo SF (May.
Of the techniques he mentioned, I think four are fundamental and critical for any lean startup: TDD (or the even more politely named TATFT ) Continuous integration Automate your deployments Collect statistics The tools to help you do these things are getting better and better every day, but dont confuse tools with process. Expo SF (May.
Growth marketing borrows a concept from the lean startup methodology. The first distinction between traditional and growth marketing models is that traditional marketing, which is often product-focused, is oriented toward top-of-funnel efforts. It isn’t about finding quick hacks to boost short-term revenue. Image source.
Customers went into the store either looking for the SuperMac product by name (if our demand creation activities had been effective) or went in unsure of which brand of board to buy. And the product that “talked to me&# , the loudest and most seductively, was the one that went home with me.
Labels: continuous deployment 0comments: Post a Comment Newer Post Older Post Home Subscribe to: Post Comments (Atom) Subscribe via email Blog Archive ► 2010 (48) ► October (3) Case Study: Rapid iteration with hardware The Lean Startup Bundle Stop lying on stage ► September (4) Good enough never is (or is it?) Expo SF (May.
This philosophy comes from The Lean Startup methodology , which relies on testing hypotheses to better understand your customers’ pain points and goals. It outlines four major growth strategies: market penetration , market development , product development , and diversification. Product development. Market penetration.
Ask your customers who else they considered for the same product or service. Ask them to use the words they would naturally use when looking for a product or service you offer. What products or services are offered and for whom? The lean, aggressive ones do. Competitive Usability Investigation. What results show up?
Lessons Learned by Eric Ries Monday, September 1, 2008 Test-Driven Development as andon cord You cannot control what you cannot see, and the hardest part of managing software projects is that the final product is so intangible. This is equivalent of the andon cord in a Toyota production plant. Automated tests make defects visible.
You have customers, they are using your product, and you are trying to help them. The Lean Startup Intensive is tomorrow at Web 2.0. Startup Visa update ► February (5) Kiwi lean startup + Australia next Why diversity matters (the meritocracy business) Beware of Vanity Metrics (for Harvard Business Rev. But then what?
You don’t need to invent an innovative product to be a real entrepreneur. They are not the generalists required for new product startups. As your business starts up, you need marketing programs, Search Engine Optimization (SEO), Search Engine Marketing (SEM), a modern “pull” strategy based on social networks, and lead generation.
Others emphasize how to build a product. If you’ve read any of my previous posts, you know I believe that: 1) a product is just a part of a startup, but understanding customers, channel, pricing, etc. Therefore we developed a class to teach students how to think about all the parts of building a business, not just the product.
Ask them to use the words they would naturally use when looking for a product or service you offer. What products or services are offered and for whom? The lean, aggressive ones do. Ask: On a scale from 1 to 10, with 10 being “Extremely likely,” how likely are you to recommend the competitor’s product to a friend or a colleague?
You can turn your entire application infrastructure investment into a pay-as-you-go variable cost, and bring new products to market at speeds an order of magnitude faster than just 10 years ago. The Lean Startup Intensive is tomorrow at Web 2.0. Amazing lean startup resources Is Entrepreneurship a Management Science?
Question 1: When youre adding features to a product used by an existing user base, do you still do split testing to determine usage patterns? Existing customers already have an expectation about how your product works, and its important to take this into consideration when adding or changing features. Absolutely, yes.
A growing startup with a well-run product team will have a history of steady progress. For readers concerned about the chasm, I recommend reading Seth Godin's thoughts on "Being remarkable" and finding a unique edge/twist for your products and marketing (edgecraft). The Lean Startup Intensive is tomorrow at Web 2.0.
0comments: Post a Comment Newer Post Older Post Home Subscribe to: Post Comments (Atom) Subscribe via email Blog Archive ► 2010 (48) ► October (3) Case Study: Rapid iteration with hardware The Lean Startup Bundle Stop lying on stage ► September (4) Good enough never is (or is it?) Expo SF (May. for Harvard Business Revie.
If you read Lean Thinking , you can enjoy numerous examples of companies that replaced multi-million dollar MRP systems with a simple white board. The lean manufacturing guys call this visual control and its very powerful. The Lean Startup Intensive is tomorrow at Web 2.0. Expo SF (May. for Harvard Business Revie.
Usability testing is great for coming up with ideas about what to change in your product, but dont forget to split-test those ideas to make sure they work, too. The Lean Startup Intensive is tomorrow at Web 2.0. Amazing lean startup resources Is Entrepreneurship a Management Science? Expo SF (May. for Harvard Business Revie.
The Lean Startup Intensive is tomorrow at Web 2.0. ► April (11) Video update on the Startup Visa Act Lean Enterprise Institute webinar, April 28 Four myths about the Lean Startup Sneak preview, KISSmetrics (and more) Sneak preview, Grockit The Lean Startup Intensive at Web 2.0 Expo SF (May.
You don’t need to invent an innovative product to be a real entrepreneur. They are not the generalists required for new product startups. As your business starts up, you need marketing programs, Search Engine Optimization (SEO), Search Engine Marketing (SEM), a modern “pull” strategy based on social networks, and lead generation.
I come from a high-tech software background, and only a few years ago, it would cost at least a million dollars ($1M) for a team of professionals to produce any commercial software product. Do basic Search Engine Optimization (SEO) and Marketing (SEM) yourself. Remember when you had to build a $1M factory to roll-out a new product?
This post covers how to smart start your startup and maximize the chances of achieving product-market fit. [[ This is a content summary only. Visit my website for full links, other content, and more! ]].
The Stanford Lean LaunchPad class was an experiment in a new model of teaching startup entrepreneurship. Many of the students had heard phrases that fall under Customer Relationships before; “customer acquisition, SEO/SEM, public relations, Social Network, Advertising, Loyalty programs, cross-sell and up-sell” etc., Stay tuned.
I come from a high-tech software background, and only a few years ago, it would cost at least a million dollars ($1M) for a team of professionals to produce any commercial software product. Do basic Search Engine Optimization (SEO) and Marketing (SEM) yourself. Remember when you had to build a $1M factory to roll-out a new product?
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