Summary of Eric Ries talk at Google

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1. But when bringing customers to usability tests - saw that all assumptions failed

2. Example

2.1. Personal experience with IMVU

2.1.1. They had a great strategy

2.1.2. All of the code was thrown out

2.1.3. He could have spent his time on the beach

2.1.4. His excuse for feeling better:

2.1.4.1. He learnt from it

2.1.5. What if instead of writing so much code, they would have written a mock download page describing the product

2.1.5.1. It would have resulted in the same result

2.1.6. Blank developed a system for finding your customer

2.1.7. This was very upsetting for him

2.1.7.1. something taking 3 hours is just as good as writing 25K lines of code

2.1.8. If he learnt the important thing on customer after 6 months, why did it take 6 months?

3. In real-life, all of the important work is in the photo-montage act, though its the most boring, from story-telling perspective

4. bio stages

4.1. wrode code

4.2. managed ppl writing code

4.3. managed ppl managing ppl writing code

4.4. now

4.4.1. coaching ppl managing ppl managing ppl writing code

5. Help stop wasting the time of people doing startups

6. Lean Startup tries to make it a science, to stop wasting ppl's time

7. Waterfall copied from factory assembly line

7.1. moving goods from 1 dept to another

8. A thoery of enterpreneurship to guide our behavior

9. so, which of these are success stories, in the sense of meeting the vision & plan of founders & employees

10. a human institution trying to create something new, under conditions of high uncertainty

11. About

12. Goal

13. 5 Principles

13.1. Everyone are enterpreneurs

13.2. Enterpreneurship is management

13.3. Validated learning

13.4. "Build - measure - learn" loop

13.5. Innovation accounting

14. Consider the way startup stories are told

14.1. e.g.

14.1.1. Ghost busters

14.1.2. The social network

14.2. Stories of startups have 3 parts

14.2.1. The protogonist having a great idea

14.2.2. The photo-montage - bringing everything to work

14.2.3. Success & its implications

14.3. What do we do in that part that makes a difference

14.3.1. Figure out which customers to listen to, & which not

14.3.2. Prioritizing features

14.3.3. How do we make people accountable

14.4. How can we make the photo-montage part more effective

15. What is a startup

15.1. enterpreneurship is a career

15.1.1. doing it means you're no longer an engineer/designer/&c

15.2. Startup = Experiment

15.2.1. just like in science

15.2.1.1. hypothesis

15.2.1.2. thoery which suggest which experiments will test it

15.2.1.3. prediction

15.2.1.4. conducting an experiment

16. Wasting time

16.1. The solution is not technical

16.2. The problem is not building things efficiently

16.2.1. But rather building things that no one wants

16.3. Most startups fail

16.3.1. <map of web2.0 startups logos in 2006, predicted to change the world>

16.3.2. <same map in which the companies that were closed/acquired by 2009 are marked>

17. The dominant question

17.1. Not

17.1.1. Can it be built?

17.2. But

17.2.1. Should it be built?

17.2.2. Can it result in a sustainable business

18. Enterpreneurship is management

18.1. Our goal is to create an institution, not just a product

18.2. When we'll look at the way we manage work today in a few decades, we'd laugh on the primitive ways & absurd stupidity

19. Pivot

19.1. The 1st thing in the toolbox

19.2. What do successful startups have in common?

19.3. The successful startups don't have better ideas than the failed ones

19.4. Successful startups differ in how they handle difficulties:

19.4.1. they didn'g give up & went home

19.4.2. nor did they continued till they hit the ground

19.4.3. they pivoted

19.4.3.1. they held one firm leg in what they've learned so far

19.4.3.2. & moved the other leg a bit - changing just 1 aspect of their business at a time

20. The premise of Lean Startups

20.1. Reduce the time between pivots

20.2. Will increase our odds of success

20.3. before we run out of money

20.4. Speed wins

20.5. The runway:

20.5.1. how many pivot opportunity do I have left

20.6. figure out to pivot sooner

21. Methodology

21.1. Good for circumstances when problem & solution are known

21.2. this is long time after it was abandoned in assembly line

21.3. factories switched to Lean manufacturing

22. Achieving failure

22.1. If we're building something no one wants

22.2. What does it matter if we'er

22.2.1. on time

22.2.2. on budget

22.2.3. with high quality

22.2.4. with beautiful design

22.3. We're according to milestones

22.3.1. no body using our products as expected

22.4. That's what startup failure looks like

23. Lean manufacturing

23.1. Deming

23.1.1. "The customer is the most important thing in the production line"

23.1.2. If the customer doesn't care about some stuff, don't do it

23.2. When applied to software, the solution was Agile methodology

23.2.1. Which assumes there's someone that can give us authorative defintive answer on design questions

23.2.2. Unit of progress:

23.2.2.1. A line of working code

23.3. The problem with Agile

23.3.1. In startups - there's no customer to guide the programmers

23.3.1.1. We don't know who the customer is

24. R

24.1. Blank developed a system for finding your customer

24.2. Unit of progress:

24.2.1. Validated learning

24.3. If you don't know who the customer is, you don't know what quality is

24.3.1. the goal is to learn how to build a sustainable business

24.4. In lean manufacturing, there's a clear separation between value & waste

24.4.1. What's good to the customer is value

24.5. In Lean startup, value is only in what helps us learn

24.5.1. validated learning

24.5.1.1. backup learning quantitavily

24.5.2. everything else is a complete waste of time

24.5.2.1. eliminate it

24.6. Minimum Viable Product

24.6.1. Containing only what's necessary to learn whether our plan is correct or not

24.7. Feedback loop

24.7.1. Ideas ->

24.7.2. Buid ->

24.7.3. Code ->

24.7.4. Measure ->

24.7.5. Data ->

24.7.6. Learn ->

24.8. This is the pivot

24.9. The goal is to minimize time through the loop

24.9.1. Every advice that gets us faster in this feedback loop is good

24.10. Lean startup is about accelerating the feedback loop

24.10.1. Code faster

24.10.2. Measure faster

24.10.3. Learn faster

25. Innovation Accounting

25.1. How can you make people accountable for their work when they need to develop something new?

25.1.1. How can you assess their progress / achievements

25.2. Focus on 3 learning milestones

25.2.1. Tune th engine

25.2.1.1. Experiment on how to improve the metrics

25.2.1.2. Do split testing to verify that changes indeed change the metrics

25.2.2. Establish the baseline

25.2.2.1. build MVP

25.2.2.2. Measure how customers bahve right now

25.2.2.3. A model allowing to predict:

25.2.2.3.1. if customers behave currently in this way, we'll have zillions of them in the future

25.2.2.4. find out where you are now

25.2.2.4.1. e.g.

25.2.3. PIvot or persevere

25.2.3.1. When experiments diminish metrics, it's time to pivot

25.2.3.1.1. or when the growth derivative flattens, before hitting the target metrics

25.2.3.2. Schedule the meeting in advance for making the decision

25.2.3.3. It's not simple to determine whether a Product-Market fit was reached, but Lean Startup suggests a methodic "scientific" way to do that

25.3. Do specific per-customer predictions

25.3.1. Do specific per-customer predictions

26. Further questions answered in the coming book

26.1. How do we know when to pivot?

26.2. what's the relation between the Vision, Strategy, Product?

26.3. What should we measure?

26.4. How do products grow?

26.5. Are we creating value?

26.6. What's in the MVP?

26.7. Can we go faster?

27. Q&A

27.1. Which products should Google pivot on?

27.1.1. Google have a management problem

27.1.1.1. when launching a product, they have their brand name, & if it's needs pivot it's embarassing for Google

27.1.2. They should have launched in small scale without the Google brand

27.1.3. Companies should provide a platform for experimentation to developers

27.1.4. Have clear analytics of whether they succeed or not

27.1.5. Even though everything that Google launched immediately gets maximal exposure & download?

27.1.5.1. Yes

27.1.5.1.1. Marketing is something you can always do, but you shouldn't market trongly bad products

27.1.5.1.2. Really great products have an inherent organic growth capability

27.1.6. Pivots should be celebrated

27.1.6.1. Celebrate the learning, not the failure

27.1.6.2. Succeeded to get away from failure

28. Further reading

28.1. 4 steps to epiphany

28.1.1. Book by Steve Blank

28.2. Book coming out in sept, 2011

28.3. Conf

28.3.1. http://sllconf.com

28.4. Links

28.4.1. http://lean.st

28.4.2. http://startuplessonslearned.com

28.4.3. http://theleanstartup.com

28.4.4. @ericries

28.4.5. #leanstartup

28.4.6. [email protected]

29. Link

29.1. http://blog.lookingforanswers.me/2011/04/lean-startup-book.html