Lean Startup Challenge kicked off last Friday. After the first evening event with the intro pitching by each participating team (see My first 60 sec. pitch) thanks to sponsorship by Boston Globe, we had a workshop weekend. Saturday at Alphamark coworking.
Day one was Lean 101 by Brendan Kohler with a Lean Canvas exercise. It was a good overview of both the canvas and Lean Startup in general and good to work on the Canvas while being there and being able to ask questions/get feedbacks on thoughts.
So here is our Canvas from Day 1:
And here our most riskiest assumptions:
- Problem exists – Do interview or market research!
- Customer Segments having this problem – Research? MVP and responses?
- Automated Solution fits market – MVP and responses?
Then it was Brian Gladstein on Customer Development (great slides!).
Based on this we worked out the following Hypothesis:
- Magnitude: Big
- Visionary: Yes
- Day in life: Makes strategic decisions based on high-level data
- Impacts: Whole Organization
- ROI: Potentially big
- Problem recognition: Yes
- Minimum Feature Set: Google+, Visualizations, LDAP, Email, iteraplan
- Features: Mail, Analysis, Visualization
- Why?/Benefits: Analysis and Measurements to fix Organization
- Schedule: Prototype End of October
- IP: Algorithms, Prov. Patent, Trademark
- TCO: Server, Admin, Orga, Consulting
- Dependency: Other datasources (Email, LDAP, Social, iteraplan, …)
- Distribution: SaaS or On-Premise
- Sales Cycle: 6-9 months
- Demand Creation
- Cross-Selling from iteraplan
- Word of Mouth
- Gartner/Forrester Analysts/Researchers
- Type of Market
- New Market?
- Redefine existing Market?
- Strategy Consultants
- Data Scientist/Analytics in Corporations
Further Todos from the first day:
- Elaborate Customer:
- Where they gather
- How to qualify
- Why they care/Problem Hypothesis
- Make a test plan:
- Which part of canvas?
- Who to test?
- How to reach?
- What is the test?
- Measure of success?
Mary-Alice Miller from mosaicHUB finished with some interesting Startup Resources.
That was the learning from Day 1 – Any feedback, help, pointers as always much appreciated. What are we missing? Who wants to help?