The Lean Startup Book

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The Lean Startup Book by Mind Map: The Lean Startup Book

1. Customer archetype

2. Epilogue

3. Introduction

3.1. Toyota Production System Principles

3.1.1. Eight Wastes Overproduction Over Processing Waiting Defects Unused Creativity Inventory (backlog) Motion Transportation

3.1.2. Achieving Failure Developing something that no one wants Successfully executing a plan that leads nowhere On time In budget Well coordinated May be FEASIBLE but not DESIRABLE and therefore not VIABLE

4. Part 1: Vision

4.1. Chapter 1: Startups Need Managing

4.1.1. Feedback is essential

4.1.2. # of items created and how efficiently done aren't as important as right value delivered

4.1.3. Currently we dont have iterations built into our system, if we get feedback to change, those changes must wait.

4.1.4. Utilize failures as opportunities to make changes

4.2. Chapter 2: Entrepreneurs are Everywhere

4.2.1. “A startup is an institution that creates new products or services in an atmosphere of uncertainty.” -Eric Ries

4.3. Chapter 3: Learn What Your Users Want

4.3.1. Traditional thinking - Traditional Success Stick to plan Stay in budget Deliver high quality None of those things guarantee customers will buy. Mistakes = Waste startups see mistakes as opportunities

4.3.2. Talk to Customer understanding what they want > sales or revenue data

4.3.3. Validated Learning "Rigorous method of demonstrating progress when one embedded in the soil of maximum uncertainty." What is Validate learning? five steps For validate Learning 1 - Set Hypotheses 2 - Build minimal product neccessary to test hypothesis 3 - Run the experiement 4 - Analyze the data and reflect 5 - Update hypothesis or set new one Backup the data collected from the real coustomers

4.3.4. Value over waste

4.4. Chapter 4: Experiment like a Scientist

4.4.1. "Every startup are grand Experiment"

4.4.2. Always start with a hypothesis

4.4.3. To achieve long term goals, take actions immediately

4.4.4. Break the experiments in many small components

4.4.5. Think big, start small Clear hypothesis about what is supposed to happen

4.4.6. Leap of faith assumptions Value hypothesis Tests whether a product or service delivers value to a customer Experiment with prototypes Growth hypothesis How will new customers discover the product or service? How will it spread from early adopters to mass adoption?

4.4.7. Ask yourself some Questions? Do customer knows that they have a problem and you are trying to solve? if there is a solution, would they buy it? would they buy it from us? Can we build the solution for that problem?

5. The Lean Startup Method

5.1. Eliminate Uncertainty

5.2. Management

5.3. Validated Learning

5.4. Accounting

5.4.1. rosey metrics "every unit we sell is 250k or 500k"

5.5. Build-Measure-Learn

5.5.1. Build / Measure / Learn

5.5.2. Continuous customer feedback loop

5.5.3. Process of steering

5.5.4. Pivot or persevere

5.5.5. Link actions to strategy

5.5.6. Align actions between departments

5.6. The Pivot

5.7. Goal is to learn what customers want and will pay for, as quickly as possible.

5.8. Based on the information you get back, you need to make continuous adjustments.

5.9. Bad learning is executing a plan without prior thought.

5.10. Validated learning

5.10.1. Build-Measure Learn Set Hypotheses build minimal product neccessary to test hypothesis run the experiement analyze the data and reflect update hypothesis or set new one

5.10.2. Design hypotheses about outcome prior to beginning

5.11. The best way to understand human preferences is to track behavior of real people, not ask for opinions

6. Part 3: Accelerate

6.1. Chapter 9: Work in Smaller Batches

6.1.1. Working in small batches

6.1.2. What do you need to learn

6.2. Chapter 10: How Your Startup Grows

6.2.1. Sustainable Growth New customers comes from the action of old customers 1. Word of mouth 2. Side effect of product usage 3. Through funded advertising 4. Through repeated purchase or use

6.2.2. Engines of Growth 1. Sticky Attract and retain customers for the long term 2. Viral Awareness of the product spreads rapidly from person to person Growth happens automatically as a side effect of customers using the product 3. Paid Pay to recruit customers Increase revenue from each customers

6.3. Chapter 11: Slow Down Intelligently

6.3.1. Can you go too fast

6.3.2. The Five WHY'S what is the real root of the problem the cause and not just a symptom edge reset circuitry why?

6.4. Chapter 12: Startups in Big Organizations

6.4.1. Innovate Platform for experimentation

7. Part 2: Steer

7.1. Chapter 5: Form Your Hypothesis

7.1.1. Feedback in shortest possible cycle time

7.1.2. Because you don't have real data, start with challenging hypothesis make sure feedback is matching original goals

7.1.3. Create learning milestones

7.2. Chapter 6: Test with the Minimum Viable Product

7.2.1. A minimum viable product helps enterpreneurs start the process of learning as quickly as possible

7.2.2. Find early adopters Forgive mistakes Eager to give feedback

7.2.3. The thoughts of your customers should always drive Design

7.2.4. MVP rule remove any feature, process or effort that does not contribute directly to the learning you seek

7.2.5. Dont worry about ideas getting stollen, not your focus right now.

7.3. Chapter 7: Measure

7.3.1. Innovation accounting Use a MVP to establish real data on where the company is right now startup must attempt to tune the engine from the baseline toward the ideal based on data company reaches a decision point: Pivot or Preserve

7.3.2. the three components of effective metrics actionable it must show real accessible the metrics must be made accessible to the team auditable we need to be able to test the data by hand

7.4. Chapter 8: Pivot or Persevere

7.4.1. Leap-of-faith assumption

7.4.2. Genchi Gembutsu

7.4.3. Keep on Updating Vision Strategies Ask yourself that are you making some progress? Product