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The Lean Start Up - Coggle Diagram

- - - - New Acq - Churn = Compounding Rate
        
        Focus should be on keeping customers
  - - - LTV - CPA = Marginal Profit
  - - - Side effect of product usage
      - Through funded advertising
      - Word of Mouth
      - Through repeat purchase or use
- - - - Pivot or persevere.
        
        If we are not moving drivers of our business model, it is time to pivot.
        
        The signs of a good pivot are if the new baseline that you start tuning results in better overall results.
        
        Types of Pivots.
        
        Customer Segment Pivot - Keeping the functionality the same, but shifting the target audience.
        
        Zoom - In Pivot
        
        Zoom - Out Pivot
        
        Customer Need Pivot
        
        Platform Pivot
        
        Business architecture pivot - from B2B to B2C or vice versa.
        
        Venture Capital Pivot
        
        Engine of growth pivot
        
        Channel Pivot.
        
        Technology Pivot
        
        Measure the runway in terms of how many pivots are left.
        
        Pivot or Perservere Meetings.
        
        Dev Team brings results of product optimization efforts over time.
        
        Business team brings accounts of conversations with customers over time.
        
        Pivot is a special kind of change designed to test a new fundamental hypothesis about the product, business model and engine of growth.
      - If the company is making progress towards the ideal then continue, if not pivot. - Aka establish a new baseline and go again.
    - - 1 MVP To Test All Assumptions, Multiple MVPs to test Multiple Assumptions, Smoke Test.
        
        Testing the RISKIEST assumptions first is the most important.
        
        Testing if an app can capture attention, if your business model is to sell that attention to advertisers for example. Or even if you can sell the attention itself if there is no defined market.
      - MVPs Establish the first LEARNING MILESTONE.
        
        CLV, Conversion Rates, Sign Ups etc.
  - - - In Progress
      - Built
      - Backlog
      - Validated
    - - Accesible
        
        Must be understood by employees and managers.
        
        Make the reports comprehensible, simple as possible. - Metrics are people too.
      - Auditable
        
        Ensure that the data is credible to employees and managers.
      - Actionable
        
        Must demonstrate clear cause and effect.
- - - - Culture
        
        People
  - - - If a problem is minor, allocate a minor amount of resources to fixing it.
        
        Incrimentally fix it.
      - Should be asked when encountered with any failure.
      - Requires an environment of mutual trust and empowerment.
      - Simplified if not everyone is on board.
        
        Be tolerant of all mistakes the first time, never allow the same mistake to be made twice.
      - Appoint a Five Whys Master for each department, should be senior enough to have authority but not so senior to not have have time.
- - - - Pivot
      - Product
        
        Optimization