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The Lean LaunchPad Way Sidnee Peck W. P. Carey School of Business Get Out of the Building
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“the next best _______”
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Traditional Business Creation Concept/Seed Product Development Alpha/Beta Test Launch/1 st Ship PASSIONFEATURES GLITCHES MARKETING DATE
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we realize we don’t really know what we thought we knew. And worse: we don’t know what we don’t know.
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Why? Because we failed to ask.
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validation
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Failure is good if it happens quickly.
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34% of new firms survive the first 10 years. U.S. Dept. of Commerce, Census Bureau
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in the last thirty years 40 million new jobs were created by startups. Steve Case, Startup America Partnership
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Payday AAWL.ORG
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framework
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Could you tell me how your business creates, delivers and captures value?
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9 building blocks
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Customer Development
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Customer Discovery Customer Validation SEARCH Customer Creation Company Building EXECUTE Steve Blank, The Startup Owner’s Manual
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know what we’re all great at? making assumptions.
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what pain do you solve for your customers? (why the heck are you starting this business?)
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The ability to receive recommendations from friends for services and products, via email. -Mashable Courtesy of Desert Living
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do you actually solve your customers’ pain? (how do you know?)
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Yelp received $1 million to build and test the idea. Users didn’t like it.
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The ability to write reviews on local businesses. For fun. -Mashable Courtesy of Desert Living
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assumptions = hypotheses
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design tests for each hypothesis…and then run the tests.
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Get Out of the Building!
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continuously ask your customers if you are on the right track. (they will tell you)
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pivot if you need to.
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fail if you have to.
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repeat.
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Customer Discovery Customer Validation SEARCH Customer Creation Company Building EXECUTE Steve Blank, The Startup Owner’s Manual
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Build a business based on validated facts of a scalable, repeatable business model.
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“the next best _______”
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The Lean LaunchPad Way Sidnee Peck skpeck@asu.edu skpeck@asu.edu @skpeck skpeck.tumblr.com Thank You!
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