Lean startup cycle

[…] This post by Steve Blank provides a step-by-step guide to launching a web startup and was very helpful. Tons of great links and pointers to tools. The most useful tool I found linked to in the article was the Lean Launch Lab. Stepping back a little, there is some classic work on business models by Alexander Osterwalder in his book Business Model Generation. The main premise is that you can lay out an entire end-to-end business model in nine small boxes on one sheet of paper. Layer Steve Blank’s Customer Development work on top of Alexander’s Business Model Canvas and you get what Steve Blank has been teaching in his entrepreneurship classes at Stanford and elsewhere – the Lean Launchpad.  was built to turn this whole process into a simple to use web app. Watch the 1-minute video at the site to get the sense for how the process flows. I completed the entire Business Model Canvas on my iPhone while feeding a 1 and a 3-year old breakfast on a lazy Sunday morning. I switched over to a browser to write an initial hypothesis to test, design a test, establish some metrics and write a list of to-do’s to execute the test. A day later, I’ve got 5 of my 7 initial Tasks completed and have my first test underway. […]

Understand market competition conditions. Your competitors have likely already saturated your marketing channels and are paying at market equilibrium. If you come in and offer exactly the same product, you’ll be paying the same CAC and getting the same LTVs. Over time this tends to drive toward zero profits, as competition is strong. To overcome this, you need a competitive advantage – a better product, lower costs, higher efficiency, etc. This allows you to pay more for a user through the same marketing channel because you get more out of the user. Out of scope, but competitive advantage covers this well.

Scott Cook co-founded Intuit Inc. in 1983 and now serves as the chairman of the Executive Committee. Before founding Intuit, Cook managed consulting assignments in banking and technology for Bain & Company, a corporate strategy consulting firm. He previously worked for Procter & Gamble, the household products giant, in various marketing positions, including brand manager, for four years. Cook is a member of the board of directors of eBay; Procter & Gamble; the Asia Foundation; the Harvard Business School Dean’s Advisory Board; the Center for Brand and Product Management at the University of Wisconsin; and the Intuit Scholarship Foundation. Cook earned an MBA from Harvard University and received a bachelor’s degree in economics and mathematics from the University of Southern California.

The lean start-up method is now being taught at more than 25 universities and through a popular online course at . In addition, in almost every city around world, you’ll find organizations like Startup Weekend introducing the lean method to hundreds of prospective entrepreneurs at a time. At such gatherings a roomful of start-up teams can cycle through half a dozen potential product ideas in a matter of hours. Although it sounds incredible to people who haven’t been to one, at these events some businesses are formed on a Friday evening and are generating actual revenue by Sunday afternoon.

Lean startup cycle

lean startup cycle

The lean start-up method is now being taught at more than 25 universities and through a popular online course at . In addition, in almost every city around world, you’ll find organizations like Startup Weekend introducing the lean method to hundreds of prospective entrepreneurs at a time. At such gatherings a roomful of start-up teams can cycle through half a dozen potential product ideas in a matter of hours. Although it sounds incredible to people who haven’t been to one, at these events some businesses are formed on a Friday evening and are generating actual revenue by Sunday afternoon.

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