Lean Startup

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Lean Startup

Postby aternouthAdmin » Fri Sep 23, 2016 9:05 pm

Based on Eric Ries thinking in "The Lean Startup"...

PLAN a build measure learn loop - think of what you need to learn, design the way you are going to measure.

Decide what you need to learn
---Define your key business make/break assumptions - especially your value and growth hypotheses
------Growth hypothesis need to work out the type of growth you are using (viral, paid, sticky)
---------defines what you need to measure e.g. ViralCoefficient, vs LifeTimeValue-AcquisitionCost vs Attrition rate

Measure - decide what actionable metrics you need which are going to help you learn what you need to learn
---Avoid vanity metrics, find simple unambiguous value results

Work out what the minimal thing is that you might build in order to do the measurement
---Build what is needed to be built to measure - rem maximum turns through BML loop per runway length

The result of the first build is the 'minimal viable product' (for testing).

DO the build-measure-learn loop
---THEN ? Pivot = change direction with plan to test a new hopefully more correct hypothesis
---or Persevere

Types of MVP
Explainer Video MVP - and signup etc
Landing Page MVP - possibly signup etc
Wizard of Oz MVP - e.g. Game
Concierge MVP - e.g. each week learning more ... new customer each week
Piecemeal MVP - e.g. groupon

First sell to early adopters
Marketing is meant to target early adopters...
---Lack of basic features is expected
------Early adopters imagine the rest of the features
---------Enterprise products - competitive advantage is to be gained

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