Lean startup Methodologies

Prasad Prabhakaran CoFounder of the HexaWallet, facilitated the Lean startup session.

Objective of the session : Building the right 'IT'.

The goal of Lean-startup session was to identify #RAT the Riskiest Assumption and different approach/ technique to test those assumptions. How cheaply, early, and frequently we can identify riskiest assumptions and test those assumptions behind our customer segments, their problems, current pain points, channels to the customer, their jobs to be done, what triggers them to try and use our solution.

Make sure that you are building The Right It before we build It right.

With the inspiration from Eric Ries Lean Startup philosophy, the session was in 3 small Minimal viable sessions.

• A shared understanding of the key principles and practice of LeanStartup

• Using Lean Canvas as a tool manifest riskiest assumption in Product-Market fit and solution fit

• Playback and reflection

During the session, the cohort deliberated the underlying Lean principles early and frequent feedback, continuous improvement, reducing the batch size and limit too many works in progress in the context of a startup journey.

Thanks to Evelina Dzimanaviciute, Darya Simanovich and Patricia Gestoso for brining their startup as case studies to playback the lean canvas and riskiest assumptions.

Priyank Bakshi kindly took the responsibility of summarizing the learnings and importance of frequent Build - Measure - Learn cycle.

Agenda for session

Wins, books – 15 minutes Discussion - Key take ways from the readings and Leanstartup videos - 15 minutes Summary of LeanStartup and introduction to LeanCanvas – 15 minutes 3 Break out rooms – Lean Canvas exercise and identify 3 riskiest assumptions - 30 minutes Presentation and play back of 3 worked out lean canvas and RAT ( Riskiest assumption test) approach - 15 minutes Group discussion and call for actions – 15 minutes

Break out session

• 3 rooms - each room will have a start-up discussing their lean canvas v1.0

• Room 1 –Patricia Gestoso

• Room 2 - Darya Simanovich

• Room 3 – Evelina Dzimanaviciute

• Each group

• Build next iteration of the canvas

• Identify top 5 riskiest assumptions,

• Approach for validation depend on the stage of startup

• Play back to the main group of V2.0 canvas, riskiest assumptions and approach for validation

Key references

Pretotyping - https://www.pretotyping.org/methodology.html

Lean canvas - https://leanstack.com/leancanvas

Lean startup principles - http://theleanstartup.com/principles