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Lean Startup and Entrepreneurship

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Title: Lean Startup and Entrepreneurship


1
Lean Startup and Entrepreneurship
Minder Chen, Ph.D. Visiting Professor Department
of Information Management National Taiwan
University ????????????? Professor of
Management Information Systems Martin V. Smith
School of Business and Economics California State
University Channel Islands Camarillo, CA
93012 Minder.chen_at_csuci.edu minderchen_at_gmail.com

2014????????????? ??????????????? Nov. 14, 2014
2
Creativity, Innovation, and Entrepreneurship
  • ?????
  • ?????
  • ?????

?? Entrepreneurship
?? Creativity
?? Innovation
3
Definition of Innovation
  • An innovation is the creation and application of
    a new or significantly improved technology,
    product/service, process, or business model that
    is accepted by markets and society.
  • Adapted from OECD 2005 and Wikipedia.

http//www.youtube.com/watch?v2NK0WR2GtFsfeature
watch-vrec
http//www.designcouncil.org.uk/Documents/Document
s/OurWork/Insight/DesignForInnovation/DesignForInn
ovation_Dec2011.pdf
4
Not Seeing the Opportunities
  • Cannot see at its nascent stage
  • Dont take it seriously once seen
  • Dont understand when it has become successful
  • Wait until it is too late
  • ????? ??? ????????
  • ?????????????????

5
Disciplined Entrepreneurship
  • 6 Themes

Bill Aulet, Disciplined Entrepreneurship 24
Steps to a Successful Startup, Wiley, 2013.
6
4. TAM Total Addressable Market 12. DMU
Decision Making Unit (for purchase our products)
  • 17. LTC Life Time Value
  • 19. COCA Costs of Customer Acquisition
  • 22. MVBP Minimum Viable Business Product

7
Marketing Sizing TAM, SAM, and TM
  • Total Addressable/Available Market

http//en.wikipedia.org/wiki/Total_addressable_mar
ket
8
Design Thinking
Source http//dthsg.com/what-is-design-thinking/
9
Design Thinking Process by Stanford d.school /
IDEO
To create meaningful innovations, you need to
know your users. Empathize and care about their
lives.
Its not about coming up with the right idea,
its about generating the broadest range of
possibilities.
Build to think and test to learn.
Framing the right problem is the only way to
create the right solution.
IDEOs 3i Inspiration?? ? Ideation?? ?
Implementation??
Testing is an opportunity to learn about your
solution and your user.
  • http//dschool.stanford.edu/dgift/
  • https//dschool.stanford.edu/groups/designresource
    s/wiki/36873/attachments/8a846/ModeGuideBOOTCAMP20
    10.pdf

10
Customer Value Canvas
  • http//www.businessmodelgeneration.com/downloads/v
    alue_proposition_canvas.pdf
  • http//www.franciscopalao.com/english/value-propos
    ition-canvas-get-to-know-your-customers-and-improv
    e-your-value-proposition/

11
Frictions Pains
  • 3M Post-it
  • I keep losing my place in my music!

http//invention.smithsonian.org/centerpieces/iap/
inventors_fry2.html
12
Design for Extreme Affordability
  • Problem 15 M premature and underweight babies
    and many died.
  • Reasons
  • Babies are so tiny they dont have enough fat to
    regulate their own body temperature.
  • Traditional incubators can also cost as much as
    20,000each.
  • Goal Design low-cost infant incubator for
    developing world
  • Field research
  • Saw unused infant incubators in hospital in
    Nepal. ? Changing design for hospitals and
    clinics to Rural mothers in their villages
  • Heard mother is going to reduce temperature from
    38oc to 30oc ? Changing the indicator to just OK

http//www.creativeconfidence.com/chapters/chapter
-3
13
The Embrace Infant Warmer Is A Product With A
Mission
200
ABC News 20/20 Video
Paraffin (??)
Video from Embrace
http//embraceglobal.org/
14
Redesign MRI for Kids
  • GE 18 billion Healthcare Division
  • Multimillion-dollar magnetic resonance imaging
    (MRI) machines
  • Problem Children are frighten by the MRI machine
    and 80 has to be sedated before scanning.
  • Action Chief designer took Human-Centered
    Design and Innovation at Stanford d.school
  • Solution Designing MRI machine ? Redesign and
    humanize the experience for kids (getting young
    patients safely and willingly through an MRI
    scan)

15
GEs Adventure Series MRI for Kids
Link
GE's Adventure Series redesigns imaging equipment
including MRIs, X-ray machines and CT scanners
like the pirate-themed machine pictured here to
make the procedures less scary for kids.
(Link)
16
Observation Learning From Nature
  • Burs of Burdock
  • Velcro is a company that produces the first
    commercially marketed fabric hook-and-loop
    fastener, invented in 1948 by the Swiss
    electrical engineer George de Mestral.

????,???? ? ????
http//tech.qq.com/a/20100519/000136_1.htm
17
Do Observations in the Field
  • Use observations in the field to spot
    contradictions of what you see and what you
    expect. ? Dig deeper
  • Genchi Genbutsu (????) Going to the source to
    see for yourself. (The Toyota Way, p. 40)
  • Empathy means challenging preconceived ideas and
    setting aside your sense of what you think is
    true in order to learn what is true.
  • Its not what you dont know that get you into
    trouble. It is you know for sure that aint so.
    -- Mark Twain.

18
Swiffer PG and Contiuum
  • There has got to be a better way to clean a
    floor. Current mops are the cleaning equivalent
    of the horse drawn carriage wheres the car?

Procter Gambles 2nd most popular consumer
product.
19
Field Research Findings of Mopping the Floor
  • A team of ethnographic researchers set out to
    watch how people cleaned their kitchen floors,
    and they discovered
  • Most people swept their floors before they
    mopped.
  • People assemble a system of largely unbranded
    products to get the job done. user-generated
    innovation, wisdom of the crowd
  • Mops worked mostly by the adhesion of dirt to the
    mop and people seemed to spend almost as much
    time rinsing their mop as they did cleaning the
    floor.
  • People wore old clothes when they were cleaning
    because it was a dirty job.

Source http//continuuminnovation.com/work/swiffe
r/
20
Meet Jeff
  • Jeff also brought to Pfizer Consumer Products a
    set of beliefs drawn from his design background
    first, that innovation should begin with a deep
    understanding of customers everyday lives and an
    ambition to make them better, and secondly, that
    innovation could be learned as a discipline
    just another important dimension of what it takes
    to lead healthy growing companies.
  • Assembled a cross-functional team to follow
    customers home to eat with them, work with
    them, and basically be involved in all aspects of
    their lives. The team made thousands of
    observations, as they searched for emergent
    patterns. Throughout their research the team
    focused on one question What could we be doing
    for the consumer that would really make their
    lives materially better?

21
In Your Pocket
  • They observed that almost every consumer health
    product in use had been designed with the idea of
    the home medicine cabinet in mind. This focus
    forced consumers to use various stopgap solutions
    for carrying their health care products with them
    on the go. ? Portable health care products
  • Quickly explored In Your Pocket formats for
    each of their existing brands
  • Portable products generated five to ten percent
    incremental revenue for the participating brands
    right from the start and was soon projected to
    become a 500 million category for Pfizer
    (contributing to the one of the highest consumer
    product company valuations on record when the
    division was sold to Johnson Johnson in 2006).

22
Listerine PocketPaks
  • Addressing the consumer need for an easy-to-use,
    portable product that delivers a cleaner,
    healthier mouth -- a real solution, not a mask
    for bad breath.
  • 150 Millions first year sales
  • Original idea was based on a confection
    technology developed in Japan. (i.e., Open
    innovation

23
The Startup Owners Manual
  • A startup is a temporary organization designed to
    search for a repeatable and scalable business
    model (under extreme uncertainty).
  • - Steve Blank, The Startup Owners Manual

Steve Blank video at http//www.youtube.com/watch?
v6t0t-CXPpyM
24
The Lean Startup Method
  • Entrepreneurs are everywhere.
  • Entrepreneurship is management.
  • Validated learning.
  • Build-Measure-Learn.
  • Innovation accounting.
  • Eric Ries, The Lean Startup How Today's
    Entrepreneurs Use Continuous Innovation to Create
    Radically Successful Businesses, 2011.

25
  • Describe
  • Design
  • Invent
  • Validate
  • Pivot
  • Discuss

Source http//businessmodelgeneration.com/canvas
Video
26
Lean Canvas
Source https//leanstack.com/LeanCanvas.pdf
27
Quick (Low-Fidelity) Prototyping
Think with your hands. Building to think.
Fail often to succeed sooner.
  • Read the IDEO Difference (link)

28
Ptototypes
  • Eric Ries, author of The Lean Startup, calls such
    a prototype a minimum viable product, or
    MVPrepresenting the least amount of effort
    needed to run an experiment and get feedback.
  • Creativity requires cycling lots of ideas. The
    more you invest in your prototype and the closer
    to final it is, the harder it is to let go of a
    concept thats not working.
  • Prototyping quickly and cheaply also allows you
    to keep multiple concepts alive longer. 
  • Boyles Law (named after one of IDEOs master
    prototypers, Dennis Boyle) never go to a meeting
    without a prototype.

29
What Is Pivot?
  • Pivot A change to business model component based
    on customer feedbacks. A pivot is not a failure.
  • Pivot is a structured course correction designed
    to test a new fundamental hypothesis about the
    product, strategy, engine of growth, etc.
  • Eric Ries, The Lean Startup, 2013.
  • Pivots are vision driven.

30
BioIQ.Com Case Study
Video https//bioiq.com/meet-dave
31
What
How
Who
Cash Flow
Watch this video
Source Alexander Osterwalder Yves Pigneur,
Business Model Generation (Preview version), 2009.
32
????????
  • ??1800? ??? ????
  • https//www.titan-tech.com.tw/static/aboutus
  • ?????????????????
  • ?????? ???????
  • ????????
  • ??????????

???
(link)
Source http//www.appledaily.com.tw/appledaily/ar
ticle/finance/20140324/35720083/
33
Biomechanics???
  • ?????????????,?????????,???????????,????????????
    ?????????,??????????!? -?????

https//www.titan-tech.com.tw/truestory/research3
Video https//www.youtube.com/watch?vndEnngIOxC
I
34
Pressure
https//www.youtube.com/watch?vdldpSlkPLew
https//www.titan-tech.com.tw/sport_socks/low_arch
_pro_basketball_socks
35
Source Link
36
???????
  • ??????????????????,??????,???????????????????
  • ????????????????,?????????????????,?????????????,?
    ????????????,????????????,?????????????????,??????
    ?,????????????,????????
  • ????,??????,????????????????????,????????,???????,
    ?????

37
EatWell
EATWELL won first place at the 2014 Stanford
Design Challenge
38
EatWellSet.Com
http//www.eatwellset.com/!features/cf1a
39
Steve Blank, Why the Lean Start-Up Changes
Everything, HBR.
40
Learning and Assumptions Testing
Start-Up Search
Large Company Execute
41
(No Transcript)
42
(No Transcript)
43
Lessons Learning
  • The search for the business model is the front
    end of the startup process
  • The goal is to find a repeatable/scalable model,
    and then execute
  • Customer and Agile Development are the processes
    to search and build the model
  • Execution requires operating plans and financial
    forecasts
  • Product management/development is the process for
    executing the model
  • This is true in the smallest startup or largest
    company

http//steveblank.com/2012/03/05/search-versus-exe
cute/
44
????????
??
  • ???????
  • ????
  • ???????????????
  • ?????????
  • ???????????????????? (Fundable Startup)

http//germination.stpi.narl.org.tw/
45
http//slideplayer.us/slide/258868/
46
Innovation Pipeline
Stagegate Model Innovation Pipeline (Funnel)
POC Proof of Concept USP Unique Selling
Proposition
Source http//www.cimaglobal.com/Documents/Import
edDocuments/cid_tg_innovation_management_jul07.pdf
.pdf
47
Innovation Arithmetic
  • Build up the pipeline
  • Quantity matters

48
(No Transcript)
49
??? at Amgen
Researchers should never be scared away from
challenging and interesting projects just because
others think them impossible. Dr. Fu-Kuen Lin
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