Tuesday, April 12, 2011

Lean Coffee: Fast and Focused

Adil at My City Lives hosted today's Lean Coffee about being "fast and focused".

Ironically, the topic drifted a bit, but there was a lot of great insight to be had, including:

  • Common Problem: Doing all parts in parallel - not a nice linear flow
  • There's a tendency to not do true customer development -- instead only validating the parts you've already built
  • Lean makes a startups a science -- takes away some of the romance
    • Question: Is Lean a "true science"? Premise: Fail faster
  • If you find out an idea is not valid, the learning from the failure is a success
    • Big Bang example: For Retrievr -- Spent $5-6K instead of $50-100K
  • Repositioning: Can be creative -- example: instagr.am
  • Figuring out behaviour is the hardest part
    • Example: People don't actually spend time with their photos after they take them
  • Medical software: 6-9 months to fail -- 1 customer validated
  • Everyone wants to be the next Steve Jobs
  • Be careful of being "married to your idea" -- not willing to change
    • Do you want one "at bat" -- where you need a home run -- or a full career?
  • What is the shortest amount of time you need to get actionable data?
  • Lean really helps with you have a "hunch" -- within a few interviews, have a good idea
  • Do you focus on one industry? Good to have a "beachhead"
    • Too broad of an idea dilutes the MVP
    • Focus is key -- don't be afraid to focus on one segment
    • Much more compelling message if you reduce the scope
  • Messaging and positioning needs to be unique
    • Analogy: getting on a busy subway -- make yourself small and squeeze in
Great commentary from everyone today. Looking forward to the next!

1 comment:

  1. Thanks Jason, you're write ups are an awesome quit hit on our meet ups. Much much appreciated!