As an important countervailing forces, the "Lean start-up" turns the conventional wisdom about entrepreneurship on its head. It favors experimentation and iterative design, makes the process of starting a company less risky. Although the methodology is just a few years old, its concepts have quickly taken root in the start-up world.

1. Changes Everything
TheLeanStart-Up
Why

2. Steve Blank
The Author
Silicon Valley serial-entrepreneur and academician

3. Technologycommercialization manager
ExploitTechnologiesPte Ltd (ETPL)
AgencyforScience, TechnologyandResearch (A*STAR, Singapore)
B. Eng & Ph.d (Engineering)
NanyangTechnological University
Singapore
M.B.A.
INSEAD
Fontainebleau,France
Presentationby
LI Wei

4. Launching a new enterprise
has always been a
hit-or-miss proposition

5. 75%of all start-ups fails
by Harvard Business School’s Shikhar Ghosh

6. Recently an important
countervailing force has
emerged, one that can make
the process of starting a
company less risky

7. leanstart-up

8. As its practices spread,
they’re turning the
conventional wisdom
about entrepreneurship
on its head

9. The Fallacy of the Perfect Business Plan

10. the decades-old formula for start-up
write a
business plan
pitch it to
investors
assemble
a team
introduce
a product
Start
Selling
1 2 3 4 5

11. After decades of
watching thousands of
start-ups follow this
standard regimen, we’ve
now learned at least
three things

12. Plans rarely survive first contact with customers

13. “Everybody has a plan until
they get punched in the mouth
MikeTyson

14. The forecast of unknowns is useless

15. No one besides venture capitalists
and the late Soviet Union requires
five-year plans to forecast
Completeunknowns

16. These plans are generally fiction,
and dreaming them up is almost
always a waste of time

17. Successful start-ups don’t follow the plan

18. Start-ups are not
smaller versions
of large companies

19. They do not unfold in
accordance with master plans

20. The ones that ultimately succeed
go quickly from failure to failure,

21. all the while adapting, iterating on, and
improving their initial ideas as they
continually learn from customers

22. Existing companies
Execute
A Business model
Start-ups
look for
A business model

23. leandefinitionofastart-up
a temporary organization designed
to search for a repeatable and
scalable business model

24. The three key principles of the lean method

25. The business model canvas

26. Entrepreneurs accept that all
they have on day one is a series of
untested hypotheses

27. So instead of writing an intricate business
plan, founders summarize their hypotheses in a
business model canvas

28. Essentially, this is a diagram of how a company
creates value for itself and its customers

29. Customer Development

30. Lean start-ups use a “get out of
the building” approach called
customer development to test
their hypotheses

31. They ask potential users,
purchasers, and partners for
feedback on all elements of
the business model

32. The emphasis is on
nimbleness and speed

33. New ventures rapidly
assemble minimum viable
products and immediately
elicit customer feedback

34. Then, using customers’ input to revise their assumptions,
they start the cycle over again,
Customer
Discovery
Customer
Validation
Customer
Creation
Company
Building
PIVOT

35. testing redesigned offerings and making further
small adjustments
Customer
Discovery
Customer
Validation
Customer
Creation
Company
Building
PIVOT

36. agile development

37. Agiledevelopment customerdevelopment

38. Unlike typical yearlong
product development cycles
that presuppose knowledge
of customers’ problems and
product needs

39. agile development eliminates wasted time and resources
by developing the product iteratively and incrementally
LearnMeasure
Build

40. It’s the process by which startups create
the minimum viable products they test

41. conclusion

42. It is too grandiose to
claim that the lean
process can make
individual start-ups
more successful

43. However, if the method is used across a
portfolio of start-ups will result in fewer
failures than using traditional methods

44. The lean start-up method has
emerged at a time when other
business and technology trends
are likewise breaking down the
barriers to start-up formation

45. The combination of all these
forces is altering the
entrepreneurial landscape
and could have profound
economic consequence

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