Bluffind Serpogrotones En La Fusión Exclúsica

The Lean Startup
Low Burn by Design not Crisis

Steve Blank and Eric Ries

The Economy
Before • Cash was readily available • Follow on financing was readily available After • Debt markets aretight • IPO & M&A window closed • VC!s deep pessimism Venture fund returns have been on decline for a decade - no end in sight

State of Startups
• High burn rate • Swing for the fences • Fullmanagement teams • Assume customer is known • Assume features are known • Assumes growth is by execution

Traditional startups are fighting yesterday’s war

Top Gun dogfight scene

Warfare ChangesForever

Boyd: Winning is about Agility

The OODA Loop • Observe • Orient • Decide • Act

Boyd Redefines the Rules to Win

• Agility requires a continuous cycle of interactions with theenvironment • But you can’t do it from a desk

Winners are Those Who Can Move Faster Than Their Competitors

• Winning requires constant assessment of change and ways to mitigate risk • Iteratingfaster than competitors yields substantial advantage

Facing Reality at Today’s Startup
There is no 2nd Place

• Uncertain environment • Rapid, unanticipated changes that lead to disorientation •Constant threats to any initiative • Burn rate (time, fuel, bullets, dollars) limits window of opportunity

Using OODA to Create “Lean Startups” And Changing the Startup Rules

CustomerDevelopment

Agile Product Development

Lean Startups
Building a New Wave of Companies in Silicon Valley

Customer Development

• Continuous customer interaction • Revenue goals from day one • Noscaling until revenue • Assumes customer and features are unknowns

Agile Product Development

• Low Burn by Design - Not Crisis

IMVU

Founding IMVU
• History:
- Company founded in April 2004- Founders audit Steve Blank's B-school class Fall of 2004

• Tactics:
- Shipped in 6 months - Charged from Day 1 - No press releases - Ship 20 times a day

• Results:
- Continuous iteration...