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Lean Thinking Week 2. Agenda 5:30 – Team Stand Up 5:40 – Lean Thinking 6:00 – Activity: Brainstorming 6:45 – Activity: Market Research 7:25 – Review.

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Presentation on theme: "Lean Thinking Week 2. Agenda 5:30 – Team Stand Up 5:40 – Lean Thinking 6:00 – Activity: Brainstorming 6:45 – Activity: Market Research 7:25 – Review."— Presentation transcript:

1 Lean Thinking Week 2

2 Agenda 5:30 – Team Stand Up 5:40 – Lean Thinking 6:00 – Activity: Brainstorming 6:45 – Activity: Market Research 7:25 – Review

3 Objectives Introduce Lean Thinking Model Exposure to Market Research Techniques

4 Review Stand Up Called Stand Up because you stand up during the meeting - everyone! A Stand Up starts every session with teams (in person or virtual) Timeboxed meeting (ends on time)

5 Lean Thinking Speaker Name: Title Credentials

6 Why do Startups Fail? “The vast majority of startups fail NOT because they could not build a great product or technology, but because no one wanted the product!” — Steve Blank

7 What is Lean Thinking? A combination of the Lean Startup Model and Design Thinking, two strategies of approaching product design and development.

8 Lean “Lean” refers to a set of methodologies that expose the relationship between what you think about a product and what is true about that product

9 Why Lean? Why is it important to apply Lean Thinking to this program?

10 Feedback Loop

11 Lean Thinking

12 Lean Doing Testing our assumptions about everything: the user/customer, the problems, the needs Speaking to real customers as much as possible (moms and friends don't count – unless they are your customer) Learning as much as we can about our market and our business quickly Making consistent, incremental steps toward “launching” our business with an iterative approach Courtesy: Launchbit - Launch your Startup

13 Applying Lean Thinking Brainstorm Science Education problem Hypothesize a solution to the problem Test what you think is true about the problem and solution by talking to potential users Validate every aspect - problem, solution, product, market Find and validate a viable business model Build a minimum viable product (your app)

14 Enter Lean

15 Test the Assumptions about User – Problem – Solution Who is the user/customer? What is their problem or unmet need? What is solution?

16 Activity: Brainstorming Set a clear goal Timebox session Appoint a person to record ideas - Scribe Rules of Engagement:  Write down main ideas  Piggy-back ideas  NO criticism of any idea  DO NOT evaluate an idea

17 Brainstorming Find the Brainstorming tab in your team’s Technovation Workspace on Google Docs

18 Get Ready to Research Group the ideas by subject/topics Write a problem statement Brainstorm possible solutions to the problem statement (record in Workspace)

19 Problem / Solution Find the Problem/Solution tab in your team’s Technovation Workspace on Google Docs

20 Market Research Think of: People who might have this problem Online communities that would be interested in a solution to the problem Other solutions designed to solve the problem (may or may not be software) Companies that sell other stuff to prospects

21 Market Research Find the Market Research tab in your team’s Technovation Workspace on Google Docs

22 Reminder: Weekly Reflections What did your team like about this week? What challenges did your team have this week? Anything else your team would like to share?

23 Technovation Challenge Google Group

24 Share with us on Twitter & Facebook Tweet #technovation Like us on Facebook: Technovation Challenge

25 Ongoing Offsite Activities Learn App Inventor Continue to do market research


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