The Lean LaunchPad Way Sidnee Peck W. P. Carey School of Business Get Out of the Building

“the next best _______”

Traditional Business Creation Concept/Seed Product Development Alpha/Beta Test Launch/1 st Ship PASSIONFEATURES GLITCHES MARKETING DATE

we realize we don’t really know what we thought we knew. And worse: we don’t know what we don’t know.

Why? Because we failed to ask.

validation

Failure is good if it happens quickly.

34% of new firms survive the first 10 years. U.S. Dept. of Commerce, Census Bureau

in the last thirty years 40 million new jobs were created by startups. Steve Case, Startup America Partnership

Payday AAWL.ORG

framework

Could you tell me how your business creates, delivers and captures value?

9 building blocks

Customer Development

Customer Discovery Customer Validation SEARCH Customer Creation Company Building EXECUTE Steve Blank, The Startup Owner’s Manual

know what we’re all great at? making assumptions.

what pain do you solve for your customers? (why the heck are you starting this business?)

The ability to receive recommendations from friends for services and products, via . -Mashable Courtesy of Desert Living

do you actually solve your customers’ pain? (how do you know?)

Yelp received $1 million to build and test the idea. Users didn’t like it.

The ability to write reviews on local businesses. For fun. -Mashable Courtesy of Desert Living

assumptions = hypotheses

design tests for each hypothesis…and then run the tests.

Get Out of the Building!

continuously ask your customers if you are on the right track. (they will tell you)

pivot if you need to.

fail if you have to.

repeat.

Customer Discovery Customer Validation SEARCH Customer Creation Company Building EXECUTE Steve Blank, The Startup Owner’s Manual

Build a business based on validated facts of a scalable, repeatable business model.

“the next best _______”

The Lean LaunchPad Way Sidnee Peck @skpeck skpeck.tumblr.com Thank You!