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LAUNCHING YOUR STARTUPS Prepare to launch - Coggle Diagram
LAUNCHING YOUR STARTUPS
Prepare to launch
The Lean Approach
How products are created
Concept
Product Dev.
Alpha/Beta Test
Launch/1st Ship
Steve Blank's Insight
Customer Development
Customer Discovery
Customer Validation
Customer Creation
Company Building
Traditional lean approach puts company at the end
Comes after proof of sales
Spend to scale based on facts, not guesses
Begins only with repeatable, scalable processes for sales, marketing, demand creation
Demonstrated demand from adopters in your beach head market
Customers passionate about your solution
Return to Discovery absent passionate key adopters
The Pivot
Based on feedback heard by founders
Fast, agile and opportunistic
(Almost) celebrate failure...whenever it’s instructive
Listening not selling
Test your hypotheses
Continuous Discovery and Feedback
Done by founders...outside the building
Positives and negatives
If you are creating a new drug or a new car, lean may not be right
Lean can be hard
Any flexible approach is good, you don’t need to be lean
Implementing this approach
Minimal Viable Products
Customer Interviews
Surveys
Make sure to ask good questions
Smoke Tests
Prototype
Focusing on
Physical products
Apps & Services
Testing
Watch them interact, ask them to narrate their experience
Then ask questions
Hypothesis And Preliminary Experiments
Hypotheses tell you what to test
Your assumption list
Qualitatively and quantitatively, generate a list of key assumptions (Use DDP)
Look for 3-5 key assumptions ... to test we need to
hypothesize
Requirement
Test at least one key assumption
Testable
Falsifiable
Assessment
Good
Don't fool yourself
Don't decide the answer in advance
Making the Leap
Don’t leap before you look
Use experimentation and lean methods to lower risk
Consider principle of “affordable loss”
Test your idea rigorously
When leaping... 3 categories of risk
Known issues
How will I deal with the cut to my income?
What happens to my job
Known risks
Where will get funding from?
Will the product work?
Hazards
What if I get sick?
What if the economy changes
Remember
Known issues: Have answers
Known risks: Use techniques from course to reduce
uncertainty
Hazards: Leave slack
Escalation of commitment
No clear certainty
Satisfaction by Industry Compared to Founders
Art of the Pitch
There is a science behind pitching
Visionary and pragmatist
Style and substance
For Professional investors
Substance, thoughful material, logical flow
For Angel investors
Energy, interesting, varied tone and pitch
Symbolic action
Personal
Spaces
Achievement
Stakeholders
The challenge
Visionary
Decreases competition
Positions positively to others
Shows distinctiveness
Pragmatist
Legitimate
Can be understood
Plausible and feasible
Three Tools
Analogy
Visionary
We will do to personal planes
what Apple did to phones
Pragmatist
As with the introduction of the Cirrus parachute, we
expect rapid adoption
Classification
Visionary
We are a personal transportation company, not an airplane company
Pragmatist
Our approach takes common technologies among military aircraft and applies them to civilian aircraft
Authority
Visionary
Richard Branson says that “this is the most daring and exciting vision for aviation I have seen”
Pragmatist
Richard Branson says that “this is a problem that clearly represents the next big step for aviation"