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This is a presentation by WP Curve co-founder Alex McClafferty for the Hult International Business School Co Creation Lab. Audio for the presentation available at http://http://startupchat.co/57
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A practical guide to the lean startup
!by Alex McClafferty
!audio available at startupchat.co/57
Trapped in a cubicle ☹
My background
• Invested $100,000+ on my formal education
!• MBA from University of Tech, Sydney !• Last job = $700 per day consultant !
• Love basketball and powerlifting
7 months in…
• 211 paying customers !
• $11,900 in monthly recurring revenue !
• Learned more from doing than textbooks !
• Never want another desk job
Today you’ll learn…
!1. What lean startup buzzwords mean
!2. How to avoid wasting a year of your life
and $80,000 on startup validation !
3. How you can validate your idea in a week
MVP = landing page or beta app
Do validation the right way
Your friends and family will love your idea
Cold hard cash is the only real validation you can get
Changing your mind is OK
Vanity metrics – FB likes and retweets don’t pay the bills
Dan starting on his first app, Informly
Dan after he went to a paid version and got 15 paid customers
What Dan learned http://startupchat.co/is-startup-validation-bullshit/
An idea struck me on the bus ride
Was a phone repair business a real business?
NO
Is a 24/7 WordPress support service a real business? Yes!
3 steps to build your lean startup
!1. Create a landing page with a BUY NOW
button !
2. Share it with potential customers (FB or forums)
!1. Profit or pivot!
