Every Monday* and Wednesday in October from 6pm-8:30pm
* Class originally scheduled for Monday 19 Oct will take place on Tuesday 20 Oct
A startup is a temporary institution designed to search for product market fit. The same challenges apply whether that is an internal project within a large company or a couple of founders working out of a cafe.
According to Deloitte Private, only 4% of Australian startups become successful companies.
The other 96% rarely fail because the product doesn’t work. Usually, it’s because they develop products that they THINK people will want and spend all their resources perfecting their product before showing it to customers who don’t want to buy it.
Startups that succeed are those that manage to iterate (make changes) based on validated customer learnings enough times before they run out of resources
Time between iterations is FUNDAMENTAL
“We must learn what customers really want, not what they say they want or what we think they should want.” ― Eric Ries, The Lean Startup: How Today's Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses
According to Stanford professor, serial entrepreneur and father of the lean startup movement, Steve Blank, launching a new startup or initiative within a large corporation—has always been a hit-or-miss proposition. You write a business plan, pitch it to investors, assemble a team, introduce a product, and start selling as hard as you can. And somewhere in this sequence of events, you’ll probably suffer a fatal setback.
The odds are not with you: As new research by Harvard Business School’s Shikhar Ghosh shows, 75% of all start-ups fail.
However, The Lean Startup, 2011's book by Eric Ries, has popularised the lean startup methodology which advocates experimentation over elaborate planning, customer feedback over intuition, and iterative design over traditional 'big bang' design and development up front. Today, both start-ups and large companies are embracing concepts such as 'minimum viable products' and rapid prototyping to radically improve the likelihood of finding product market fit, without wasting millions of dollars or several years looking for it.
The lean startup for large companies
Lean start-up practices aren’t just for young tech ventures. Large companies, such as GE, Qualcomm and Intuit, have begun to implement them successfully.
Why traditional methods for product development are broken
In this short course, running 2 nights a week for 4 weeks, not only will you receive an overview of the entire lean startup process and supporting tools, backed by real world case studies, in class and take home activities but you will also be asked to come with an idea and you will leave with a working prototype and some validated learnings. If you've got a team and can't do a 4 week course, ask us about our 2 day immersive lean startup bootcamp for teams!
This will help you quickly and cheaply determine whether or not you're onto a winner, which elements of your business model need tweaking, what features you need to think about and you will start to gain an appreciation for which marketing and distribution channels work best.
You will also be able to tap into the collective knowledge and opinions of your peers as well as expert insights of the facilitator and guest speakers.
Class time: 2.5 hours Monday & Wednesday nights (5 hours total) Homework: 2-4 hours per week
If you answer yes to any of the following questions then the lean startup short course is for you.
Steve Glaveski spent time working at both Macquarie Bank and Ernst & Young, where he consulted for numerous ASX50 and NASDAQ listed clients, before embarking upon his own entrepreneurial journey. He used lean startup principles to validate assumptions underlying his first startup, Hotdesk, which lead to a successful fundraising round, appearances in The Financial Review and The Australian and honours from Microsoft Australia, before growing the office sharing platform to almost 1,000 locations across AsiaPac.
He has since gone on to advise other early stage tech-startups and is a co-founder of Collective Campus, sighting an archaic mentality of "the way things have always been done around here" as a key motivator for wanting to get into the space. Steve is also a regular innovation blogger, having written for Innovation Excellence, Startup Grind, Venture Beat, Startup Daily and Shareable in addition to independently publishing thought leadership pieces on LinkedIn.
When not immersing himself in all things business and innovation, Steve can be found hitting weights in the gym, cycling down Beach Road, catching a live band on AC/DC Lane or enjoying some smashed avocado on toast at one of Melbourne's many famous inner city cafes.
Come along to a FREE intro class!