Edel Technology Technology Partner To The World

• What is Lean Start-up Methodology?

● Scientific approach to creating and managing start-ups

● Ultimate goal is to get products to customers' hands faster

● Takes its name from the lean manufacturing revolution that Taiichi Ohno and Shigeo Shingo are credited with.

Introduction to the LSM

It's a process therefore, it can be learned to achieve the expected results

The Lean Startup Process

Why Lean Methodology?

●The customer is the ultimate focus here.

●Involve the customer; speak to him to approve or disapprove the ideas you have, else, you fail

●Eliminate uncertainty to create order

●Drives Innovation-

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Why Lean Methodology? (Cont’d) • Promotes innovation-through the core ‘build-

measure-learn’ feedback loop and asks the question of whether a product SHOULD be built instead of whether it CAN be built.

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Why Lean Methodology? (Cont’d)

• Promotes the principle of work smarter not harder

• It is the best way to build an enduring business today

• Starting Lean is today’s best practice for innovators.” — Randy Komisar, founding director of TiVo

Principles of LSMThe LSM is built on 5 core principles.

●Entrepreneurs are everywhere- irrespective of industry or company size

●Entrepreneurship is management

●Validated Learning

●Build-Measure-Learn

●Innovative Accounting

Parts of the LSM (1)The whole methodology can be broken into 3 segments; Vision- (to achieve this, we employ a strategy, product roadmap, point of view about partners and competitors and ideas about who the customers will be )

i. Start

ii. Define

iii. Learn- which elements of our strategy will help us achieve what we want

iv. Experiment

Parts of LSM (2)Steer – Having a great a idea or building a great product is not enough, the focus should be on minimizing the total time in this loop.

v. Leap-'the-leap-of-faith' assumptions. ie. the value assumption-What will generate value for the customer; and the growth assumption- how will new customers discover our product.vi. Test

vii. Measure

viii. Pivot (or Persevere)

Parts of LSM (3)Accelerate- Which activities create value and those which form waste?

ix. Grow

x. Adapt

xi. Innovate

xii. Join the Movement

● ‘In order to learn, failure must be an option, and failure while learning must be accepted within the organization. If you cannot fail, then you cannot succeed’. -Jake Simmons

● The story of Edel Technology Consulting - we failed once as a startup. We came back strong. Thanks to the vision of our founder

LSM at EDEL Tech Consulting

● In a state of validated learning in the vision stage of our growth journey

● Trying to find our feet in the market ,preparing to soar

● How?

● We are on our way to succeeding as a lean business by launching(ideas), learning, adapting in a continuous manner

EDEL- at present

• Validated Learning

EDEL- at present

• Validated learning is● a process● of demonstrating empirically that a team has

discovered(a sign of learning)● valuable truths about a start-up’s present and

future business prospects

What is validated learning?

How Do we Account?

●We are able to know if we are making progress by measuring with concrete decisions- During the Learning phase of validated learning.

●Eliminate what is not necessary and go only with what is necessary for the customer- i.e. that which provides benefit to the customer. All other things contrary to this is waste

●Productivity is when we know the right product to build

What Next?

●Prepare to steer in the direction defined in the current phase

●Experiment, experiment, experiment more

●Not forgetting our vision as a company

●Experimentation drives innovation and causes us to be in the lead

Preparing to Steer

●As we experiment, we must answer these 4 questions as proposed by Ries:

●1.Do consumers recognize that they have the problem we are trying to solve?

●2. If there was a solution, would they buy it?

●3. Would they buy it from us?

●4. Can we build a solution for that problem?

Based on feedback we…●Build-measure-learn

M-ABLODE● We identified an employment gap/desire for people to make

extra money● Identified our 2 riskiest assumptions● We plan and test our assumptions by reaching out to target

groups-with interviews/questions● Build a prototype(MVP)- get groups to try it out so we can

measure● Based on feedback, we Learn- and re-strategize where

necessary● Continue cycle till we succeed- and LAUNCH!

Lean product Example

● The Build-measure-learn steering wheel will help us to make constant adjustments while headed to our destination

● we can learn when and if it’s time to make a sharp turn or whether we should persevere along our current path.

Example (cont’d)

Ethel Cofie has over 12 years of experience working with innovative and transformational systems . Her focus has been on providing services such as product solutions management, business analysis, software development, service management, strategy development and implementation.

She has international experience working on a variety of projects including the Bill and Melinda Gates Mobile Technology for Health Project, the Ford Foundation’s Election Monitoring project for Nigeria, and has served as Head of Commercial Solutions at Vodafone Ghana.

She has been featured on CNN and BBC on her work in technology and is currently a Barack Obama Mandela Washington Fellow

The CEO

Thank you Email :

services@edelconsult.comWebsite :

www.edelitconsult.com