Home – New Forums Marketing mastery Lean startup anyone?

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  • #977606
    nominal
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    Eric Ries, author of the lean startup, and a leader of the “movement” with the same name.Visited Sydney today and presented in an event organised by AWS (amazon).

    The lecture was very interesting although it was a summary of the book, which I’ve read twice in the last couple of months :-)

    I highly recommend the book which provides a framework for building and managing a startup, including concepts such as validated learning, minimal viable product, leap of faith assumption, build measure learn feedback loop and innovation accounting.

    I would love to hear from anyone who is interested in these methods. I am currently looking at ways to validate my growth and value “leap of faith” assumptions.

    #1099051
    James Millar
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    Hey nominal – question for you. Did you find this was pitched primarily at tech businesses?

    Helping build better businesses and better lives with expert financial and taxation advice. [email protected] www.360partners.com.au 03 9005 4900
    #1099135
    James Millar
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    Hey nominal – question for you. Did you find this was pitched primarily at tech businesses?

    Helping build better businesses and better lives with expert financial and taxation advice. [email protected] www.360partners.com.au 03 9005 4900
    #1099052
    DanielM
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    I am also interested in hearing the answer to James’s question.

    #1099137
    DanielM
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    I am also interested in hearing the answer to James’s question.

    #1099053
    Indo
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    I too would like to know the answer to that question.

    The Lean Startup web site has to be one of the most irritating sites I’ve seen; so little information padded out with so much dross. In another life I used to attend meetings where we played Bullsh*t Bingo; you write down a bunch of “corporate” words or phrases in a grid on a card, marking them off when they are used during the meeting. If you get an entire row marked off you stand up and shout “BULLSH*T”.

    I’m sure the book is all you promise Nominal but the site does them no favours.

    #1099139
    Indo
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    I too would like to know the answer to that question.

    The Lean Startup web site has to be one of the most irritating sites I’ve seen; so little information padded out with so much dross. In another life I used to attend meetings where we played Bullsh*t Bingo; you write down a bunch of “corporate” words or phrases in a grid on a card, marking them off when they are used during the meeting. If you get an entire row marked off you stand up and shout “BULLSH*T”.

    I’m sure the book is all you promise Nominal but the site does them no favours.

    #1099054
    ray_223
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    I read this book last year and wrote a review on flying solo – http://www.flyingsolo.com.au/forums/working-smarter/16716-book-review-lean-startup-eric-ries.html

    It is tech based but also does give a few examples of the lean startup method outside of tech. I think it has value to anyone doing a startup in any industry.

    #1099141
    ray_223
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    I read this book last year and wrote a review on flying solo – http://www.flyingsolo.com.au/forums/working-smarter/16716-book-review-lean-startup-eric-ries.html

    It is tech based but also does give a few examples of the lean startup method outside of tech. I think it has value to anyone doing a startup in any industry.

    #1099055
    nominal
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    Indo, post: 112422 wrote:
    The Lean Startup web site has to be one of the most irritating sites I’ve seen;

    I never actually visited the site before your comment – and you’re right it a very strange website. It’s a good thing I didn’t see the website before I read the book :-)

    The book uses examples from the tech industry but is certainly not aimed at software companies only. I think the ideas and methods are just as valid for any startup.

    Any business, a grocery store or IT consulting, is based on growth and value assumptions. And each can make use of validated learning to see whether they ‘re on the right track and whether they should pivot or persevere.

    I actually found a couple of consultants that are familiar with these methods.

    #1099143
    nominal
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    Indo, post: 112422 wrote:
    The Lean Startup web site has to be one of the most irritating sites I’ve seen;

    I never actually visited the site before your comment – and you’re right it a very strange website. It’s a good thing I didn’t see the website before I read the book :-)

    The book uses examples from the tech industry but is certainly not aimed at software companies only. I think the ideas and methods are just as valid for any startup.

    Any business, a grocery store or IT consulting, is based on growth and value assumptions. And each can make use of validated learning to see whether they ‘re on the right track and whether they should pivot or persevere.

    I actually found a couple of consultants that are familiar with these methods.

    #1099056
    nduncan
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    A lot of it does sound like standard business planning advice put slightly differently. I think it is a logical approach with any business that you should build measure and learn. Different consultants will just express it in different ways.

    The “leap of faith” sounds a bit concerning. Lot’s of people have faith in quite radically different things and leaping may not be the best answer.

    #1099144
    nduncan
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    A lot of it does sound like standard business planning advice put slightly differently. I think it is a logical approach with any business that you should build measure and learn. Different consultants will just express it in different ways.

    The “leap of faith” sounds a bit concerning. Lot’s of people have faith in quite radically different things and leaping may not be the best answer.

    #1099057
    James Millar
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    There are two schools of thought I’ve encountered with regards to startups and early funding / resources. The validation pilot phase model (I suspect this book falls into) which prescribes a very tight initial resource approach and the alternative extreme which I call the “all in” model.

    I previously subscribed more to the former because (a) being forced to be resourceful can be a good thing, (b) having a validation pilot phase reduces risk with a stop loss (c) it’s hard to find early stage investment funds and I hate seeing great ideas never see the light of day. Ie the old chestnut that it’s better to start with something and fail than to never try at all (a great cliche but we’re talking about risking many thousands of dollars so it’s serious risk. In some cases life savings).

    In the last 18 months I’ve come around a little more to some aspects of the “all in” model. It certainly ups the stakes but for the right idea with the right team it’s pretty foolish to undercook the business from day one. Committing significant money creates a sense of “buy in” to the venture which you can’t get easily any other way. The risk of losing lots of money (their own cash and not just time) tends to make people think very carefully about their business decisions. So in that regard committing big money to a venture, if managed carefully, can create a level of commitment that’s hard to replicate with the lean approach.

    I still think that for most of the micro businesses on this forum the lean bootstrap model is likely the better approach. Most startups here are committed to proceeding irrespective of whether they understand the forecast returns, risks and other issues. If that’s the case it’s best to risk as little as possible until a clearer picture has been established.

    Helping build better businesses and better lives with expert financial and taxation advice. [email protected] www.360partners.com.au 03 9005 4900
    #1099146
    James Millar
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    • Total posts: 1,739
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    There are two schools of thought I’ve encountered with regards to startups and early funding / resources. The validation pilot phase model (I suspect this book falls into) which prescribes a very tight initial resource approach and the alternative extreme which I call the “all in” model.

    I previously subscribed more to the former because (a) being forced to be resourceful can be a good thing, (b) having a validation pilot phase reduces risk with a stop loss (c) it’s hard to find early stage investment funds and I hate seeing great ideas never see the light of day. Ie the old chestnut that it’s better to start with something and fail than to never try at all (a great cliche but we’re talking about risking many thousands of dollars so it’s serious risk. In some cases life savings).

    In the last 18 months I’ve come around a little more to some aspects of the “all in” model. It certainly ups the stakes but for the right idea with the right team it’s pretty foolish to undercook the business from day one. Committing significant money creates a sense of “buy in” to the venture which you can’t get easily any other way. The risk of losing lots of money (their own cash and not just time) tends to make people think very carefully about their business decisions. So in that regard committing big money to a venture, if managed carefully, can create a level of commitment that’s hard to replicate with the lean approach.

    I still think that for most of the micro businesses on this forum the lean bootstrap model is likely the better approach. Most startups here are committed to proceeding irrespective of whether they understand the forecast returns, risks and other issues. If that’s the case it’s best to risk as little as possible until a clearer picture has been established.

    Helping build better businesses and better lives with expert financial and taxation advice. [email protected] www.360partners.com.au 03 9005 4900
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