Lean Startup: Pivot vs Persevere
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The document summarizes a Lean Startup meetup focused on discussing when companies should pivot versus persevere. The meetup agenda included introductions, an overview of pivoting versus persevering, examples of company pivots, planning for the next meetup, and opportunities for discussion. The overview explained that a pivot is a structured course correction to test a new hypothesis about the product, business model, or growth strategy, while persevering means determining if progress is being made or a change is needed. Real case studies of company pivots were presented and discussed.
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Lean Startup: Pivot vs Persevere
- 1. Lean Startup ZRH Pivot vs Persevere 18.02.2013 @twt_carlos
- 2. Agenda #1 New attendees #2 Overview of topic “the pivot vs. persevere” #3 Real cases focused on pivoting #4 Next Meetup #5 Help, share and learn!
- 4. Name + nickname Yourself, company, role How are you involved with Lean Startup? What do you expect from this Meetup?
- 5. #2 Overview of topic pivot vs persevere .
- 7. “The Lean Startup method teaches you how to drive a startup -how to steer, when to turn, and when to persevere- and grow a business with maximum acceleration.” theleanstartup.com/principles “There is absolutely no right answer . Like almost everything in a lean startup, requires judgment. I t ' s a n a r t , n o t a s c i e n c e .” Eric Ries
- 8. A pivot is a structured course correction designed to test a new fundamental hypothesis about the product, business model and engine of growth.
- 9. What is pivoting for you?
- 10. Are we making progress? or Do we need a change?
- 11. A Pivot for each case Zoom-in Zoom-out Customer segment A single feature The whole Good product, becomes the product becomes bad customer whole product a single feature segment Customer need Platform Repositioning, or Change from an a completely new application to a product platform, or vice versa
- 12. Caution: more blind corners! Business architecture Value capture Engine of growth High margin, low volume Changes in the Picking how to or revenue model growth: viral, Low margin, high volume sticky and paid Channel Technology How the product New technology is delivered to improves the customers competitiveness
- 13. But, pivot or persevere? Feedback!!!
- 14. Measure how customers respond An actionable metric is one that ties specific and repeatable actions to observed results. Ash Maurya
- 15. Split testing
- 16. Split testing
- 17. Split testing
- 18. Split testing
- 19. Confirm the conversion improvements Measure Control Hypothesis #1 #2 Acquisition AARRR Activation Retention Referral Revenue
- 21. Bring Your Own Problems Gathering problems Ordering Discussion
- 22. Lean Startup Machine Winner 2012 http://www.youtube.com/watch?v=kddld-SS7lw
- 23. #4 Next Meetup
- 24. #5 Help, share and learn!
- 25. Thanks to our sponsor! The incubator for ICT and CleanTech startup companies in Zurich.
- 26. Links Excerpted from "The Lean Startup" book http://www.entrepreneur.com/article/220302 Top 10 ways entrepeneurs pivot a Lean Startup http://www.forbes.com/sites/martinzwilling/2011/09/16/top-10-ways-entrepreneurs-pivot-a-lean-startup/ Split test examples http://www.abtests.com Split testing http://www.startuplessonslearned.com/2008/09/one-line-split-test-or-how-to-ab-all.html Ash Maurya http://www.ashmaurya.com/ Lean Startup Metrics and Analitics http://www.slideshare.net/njvitto/lean-startup-metrics-analytics