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Lean Startup = Save $$ $

How Lean Startup Principles Saved Magoosh Tens of Thousands of Dollars, Bhavin Parikh, Magoosh

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Page 1: How Lean Startup Principles Saved Magoosh Tens of Thousands of Dollars, Bhavin Parikh, Magoosh

Lean Startup = Save $$$

Page 2: How Lean Startup Principles Saved Magoosh Tens of Thousands of Dollars, Bhavin Parikh, Magoosh
Page 3: How Lean Startup Principles Saved Magoosh Tens of Thousands of Dollars, Bhavin Parikh, Magoosh
Page 4: How Lean Startup Principles Saved Magoosh Tens of Thousands of Dollars, Bhavin Parikh, Magoosh

How do we stay lean?

Page 5: How Lean Startup Principles Saved Magoosh Tens of Thousands of Dollars, Bhavin Parikh, Magoosh

Done > Perfect

BUILD

MEASURELEARN

Page 6: How Lean Startup Principles Saved Magoosh Tens of Thousands of Dollars, Bhavin Parikh, Magoosh

Data > Intuition

BUILD

MEASURELEARN

Page 7: How Lean Startup Principles Saved Magoosh Tens of Thousands of Dollars, Bhavin Parikh, Magoosh
Page 8: How Lean Startup Principles Saved Magoosh Tens of Thousands of Dollars, Bhavin Parikh, Magoosh
Page 9: How Lean Startup Principles Saved Magoosh Tens of Thousands of Dollars, Bhavin Parikh, Magoosh

TOEFL is not like other tests

Page 10: How Lean Startup Principles Saved Magoosh Tens of Thousands of Dollars, Bhavin Parikh, Magoosh

And the feedback says…

• It would be better if Magoosh provides a service for grading speaking and writing answers submitted by students.

• Plz include score validation for speaking and writing

• I’m sure most people on the survey mention this, but I really wish the Speaking and Writing section of Magoosh was actually graded.

Page 11: How Lean Startup Principles Saved Magoosh Tens of Thousands of Dollars, Bhavin Parikh, Magoosh

Let’s solve this!

Page 12: How Lean Startup Principles Saved Magoosh Tens of Thousands of Dollars, Bhavin Parikh, Magoosh

The excitement rabbit hole

Photo courtesy of Flickr user aldenchadwick under the Creative Commons 2.0 license

Page 13: How Lean Startup Principles Saved Magoosh Tens of Thousands of Dollars, Bhavin Parikh, Magoosh

But wait…

Done > Perfect

Data > Intuition

Page 14: How Lean Startup Principles Saved Magoosh Tens of Thousands of Dollars, Bhavin Parikh, Magoosh

Let’s try a test (Done > Perfect)

Page 15: How Lean Startup Principles Saved Magoosh Tens of Thousands of Dollars, Bhavin Parikh, Magoosh

The grading process

Page 16: How Lean Startup Principles Saved Magoosh Tens of Thousands of Dollars, Bhavin Parikh, Magoosh

Results (Data > Intuition)

Photo courtesy of Flickr user César Astudillo under the Creative Commons 2.0 license

Page 17: How Lean Startup Principles Saved Magoosh Tens of Thousands of Dollars, Bhavin Parikh, Magoosh

Cost of the experiment

$3K to $5K

Page 18: How Lean Startup Principles Saved Magoosh Tens of Thousands of Dollars, Bhavin Parikh, Magoosh

Cost of the actual solution

$30K to $50K

Page 19: How Lean Startup Principles Saved Magoosh Tens of Thousands of Dollars, Bhavin Parikh, Magoosh

Lean = Validation = Profit

Page 20: How Lean Startup Principles Saved Magoosh Tens of Thousands of Dollars, Bhavin Parikh, Magoosh

Building a lean culture