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Ada L. Stein
GrowthWheel International Inc.
Partner Relations
EBN Tech Camp 2014
The ‘Lean Startup Paradigm’
New tools and approachesthat change the way wework with entrepreneurs
“Students come in here saying they want to write a business plan, but that’s the last thing they need to do.
The only way to get to a point where you have a truly entrepreneurial idea is to use a creative approach.”
—Candida Brush, Chair of the entrepreneurship division and director of the Arthur M. Blank Center for Entrepreneurship at Babson College in Wellesley,
Massachusetts
“This idea that the future is predictable and that there is this perfect plan that you can write and then implement, I think that is a
real dangerous way to think about it. “
—Saras Sarasvathy
5 new ideas
Customer Development Methodology
Steve Blank
Lean Startup
Erik Ries
Effectual Entrepreneurship
Saras Sarasvathy
Business Model Generation
Alex Osterwalder
GrowthWheel® Toolbox
David Madié
The “Lean Startup Paradigm”
– A likely title for the new paradigm
due to the popularity of Eric Ries’s
book by this title
Summary
The paradigm shift in developing start-ups
BUSINESS PLAN
PARADIGM
LEAN STARTUP
PARADIGM
Planning Experimentation
Market projections Customer Feedback
Perfect design Iterative design
Vision Deliverables
Strategy Operations
Planning Execution
Long-term planning Short-term planning
Executing plans Developing plans
Executing B. models Looking for B.models
“No business plan survives first contact with a
customer”
—Steve Blank, Silicon Valley–based retired serial entrepreneur.
“The future is unpredictable … Yet most startups … still are managed
by using detailed business plans.”
—Eric Ries
“Business plans have their time and place, though
perhaps not in planning a business.”
—Saras SarasvathyProfessor, Co-Author Effectual Entrepreneurship
"People put too much detail into a business plan. [..]No matter what you write and the numbers you derive for your business plan, the reality is in fact different to
what you imagined.So business plans don't work. We need to burn
them!"
—Dr. Alex OsterwalderUniversity of Lausanne, Switzerland
Text
GrowthWheel® challenges for all businesses
All industries. All life-stages. All sizes.
An attractive
BUSINESS CONCEPT
Lasting
CUSTOMER RELATIONS
Profitable
OPERATIONSA strong
ORGANIZATION
An attractive
BUSINESS CONCEPT
Lasting
CUSTOMER RELATIONS
Profitable
OPERATIONSA strong
ORGANIZATION
“I think sometimes as counselors we pick
our own favorite topics when we talk to
the client”
—Rich
SBDC Advisor in Arizona
WORKSHEETBUSINESS CONCEPT
Date: Name: Company:
ww
w.g
row
thw
heel.com
© 2
005-2
012 S
tart
up C
om
pany
NY
C I
nc. A
ll rights
reserv
ed. M
ay n
ot be r
epro
duced w
ithout
perm
issio
n fro
m S
tart
up C
om
pany.
v1.8
Product Definition
Find ways to expand the product portfolio
Intention
By expanding our product portfolio we can attract more customers and increase the revenue on existing customers.
Process
Start by listing all of your company’s core products and services.
Note in which (new) ways the product or the service can be offered in different variations. Also consider whether you are able to offer a service to a physical product, or a physical product to a service.
Continue by listing all current and maybe even new introductory products and services. These might be the first purchases of new customers.
Evaluate your options for defining add-on products and services that can change or improve the core products.
Finally define the most extended or luxurious flagship product that your company is able to offer customers.
Next Step
Produce an action plan to develop new products and services that will expand your company’s product portfolio.
Y2.01
CHECKLIST FOR PRODUCT AND SERVICE VARIATIONS
Variation options for servicesVariation options for
products
Variation options for
products and services
Duration (short, medium, long) Level (low, medium, high) Quality (low/good/high) Staffing Scope
Color (red/green/blue, etc.)Size (S/M/L)Materials (wood/plastic/metal)Quality (low/good/high)
Price (low/medium/high)Technology (low-tech/high-tech)
BUSINESS CONCEPT :: Product Portfolio
INTRODUCTORY
PRODUCTS
Variations:ADD-ON
PRODUCTS
CORE
PRODUCTS
FLAGSHIP
PRODUCTSPackaged
solutions
WORKSHEETORGANIZATION
Date: Name: Company:
ww
w.g
row
thw
heel.com
© 2
005-2
012 S
tart
up C
om
pany
NY
C I
nc. A
ll rights
reserv
ed. M
ay n
ot be r
epro
duced w
ithout
perm
issio
n fro
m S
tart
up C
om
pany.
v1.8
Employee Profile
Describe the ideal profile
of the next employee
Intention
By determining a profile for the type of person we would like for a new available position we increase the probability of finding just the right person for the job.
Process
Start by writing the job title and who the new employee will refer to.
Continue by putting into words how you imagine the next employee in terms of education, professional and personal skills, knowledge, mind-set etc.
Also try to imagine what kind of career the person has built so far.
Finish by trying to map how the future career of this person will turn out in the company.
Next Step
Use the profile to write the job advertisement. Also use it as inspiration for the questions for the job interview.
ORGANIZATION :: EmployeesR2.21
Next year 2 years 5 years
Last job Last job Job today
FUTURE CAREER PATH
CAREER SO FAR
Mind-set
Professional skills
Knowledge
Education
Personal skills
Title:
Will refer to:
POSITION
WORKSHEETCUSTOMER RELATIONS
Date: Name: Company:
ww
w.g
row
thw
heel.com
© 2
005-2
012 S
tart
up C
om
pany
NY
C I
nc. A
ll rights
reserv
ed. M
ay n
ot be r
epro
duced w
ithout
perm
issio
n fro
m S
tart
up C
om
pany.
v1.8
How good are we at it?
(1-5 crosses)
Who should be
responsible for this
from now on?
What can be done in this field?
Sales Chain
Find ways to strengthen each part of the sales process
Intention
By systematically going through all of our processes in sales, we can find new ways of developing our sales skills and thereby increase our revenue.
Process
Start by assessing how good your organization is today at performing the 12 different links in the sales chain. Place a cross in the boxes to score (1-5) your performance, with 5 being the highest. Some links will be more relevant than others, and there might be different situations for different customer segments or product areas.
Then decide which person in the organization should be responsible for what process from now on. Some links in the sales chain can perhaps be outsourced.
Finish off with suggestions of how the sales chain could be strengthened at each link.
Next Step
Implement the suggestions to strengthen the sales effort.
MAINTENANCE
OF THE SALE
CLOSING
OF THE SALE
OPENING
OF THE SALE
#1 Planning of sale
PREPARATION
OF THE SALE#2 Prospect definition
#3 Sales materials
#4 Networking
#5 Customer dialogue
#6 Customer
meetings
#7 Proposal and offer
#8 Negotiation
#9
Order/Invoice/Contrac
t
#10 After sale
#11 Client care
#12 Repeat sale
G3.01CUSTOMER RELATIONS :: Sales and Service
WORKSHEETOPERATIONS
Date: Name: Company:
ww
w.g
row
thw
heel.com
© 2
005-2
012 S
tart
up C
om
pany
NY
C I
nc. A
ll rights
reserv
ed. M
ay n
ot be r
epro
duced w
ithout
perm
issio
n fro
m S
tart
up C
om
pany.
v1.8
Cash Management
Find the best ways to improve short-term and long-term cash flow
Intention
Growth puts strain on liquidity, but several initiatives can generate a better cash flow.
By improving cash flow we generate more liquidity to be used for the growth of the company.
Process
Start by getting an overview of alternative ways of improving the cash flow in the company. Add more opportunities yourself.
Evaluate how suitable each initiative is.
Describe the initiatives that need to be completed in order to improve the cash flow.
Next Step
Schedule time to carry out the various initiatives, or delegate the assignments to other employees.
B1.11OPERATIONS :: Financials
CATEGORY ALTERNATIVE WAYS TO IMPROVE CASH FLOWSUITABILITY
INITIATIVES TO BE COMPLETED
Low Medium High
Debtors
Shorten terms of payment
Digital invoicing
Introduce advance payment
Improve reminder procedures
Introduce interest payment on overdue receivables
Offer cash discount for immediate payments
Creditors
Extend terms of payment
Form installment agreements with creditors
Form installment agreements with tax authorities
Reduce costs and spending
Stock
Cut current stocklevels
Reduce order sizes to suppliers
Reduce minimum stock for re-orders
Increase turnover rate
Reduce stock through consignment
Tied-up capital
Sell assets
Take loans against assets
Leasing of production equipment, inventory or cars
Loans
Get granted an overdraft
Take out a bank loan
Get a loan from personal contacts
Make a factoring deal
Negotiate extension of payments on bank loans
Raising capital
Loans from stockholders
Capital injection from investors
What does the tools
have in common?
Same line of thinking
Less trying to predict the future
More planning. Not less.
But different
In constant development
Exploring
How the tools are different
Lean Startup
A set of principles for exploring business issues
Business Model Generation
A tool to find the right business model by combining elements
GrowthWheel®
A tool to make decisions and take action with 360°perspective
Concepts in the Lean Startup Paradigm
New principles and new tools
OPERATIONALSTRATEGIC
PRINCIPLES
TOOLS
Four Entrepreneurial Archetypes
Entrepreneurs see themselves in GrowthWheel®
Inventor Team-builder Rainmaker Administrator
In Conclusion