Every Monday* and Wednesday in October from 6pm-8:30pm
* Class originally scheduled for Monday 19 Oct will take place on Tuesday 20 Oct
At a Glance
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
Why The Lean Startup Changes Everything
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
- Business plans rarely survive first contact with customers. As the boxer Mike Tyson once said about his opponents’ prefight strategies: “Everybody has a plan until they get punched in the mouth.”
- No one besides venture capitalists and the late Soviet Union requires five-year plans to forecast complete unknowns. These plans are generally fiction, and dreaming them up is almost always a waste of time.
- Start-ups are not smaller versions of large companies. They do not unfold in accordance with master plans. The ones that ultimately succeed go quickly from failure to failure, all the while adapting, iterating on, and improving their initial ideas as they continually learn from customers.
About this Course
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.
- What is a startup?
- Why startups fail
- Why startups succeed
- Identify an Idea (if you haven't got one already!) - don't worry if it's good or bad, nobody really knows at this stage!
- The disruptive innovation litmus test
- Tech risk vs market risk
- The technology adoption lifecycle
- Vertical v horizontal markets
- Customer job to be done
- Stand in the customers shoes and define the customer pain - is it big enough and real enough?
- Take home activities
- Defining your value proposition
- Building your business model
- Identify your most riskiest and most key assumptions
- Define where you are today and what your ideal is (how do you measure success?)
- Define experiments to best validate or invalidate these assumptions
- Intro to virtual prototypes and minimum viable products
- Minimum product v whole product
- Learn fast, fail fast and iterate
- Take home activities
- Prototype development
- Guest Speaker - How To Run a Successful Crowdfunding Campaign to Validate Your Idea
- Actionable, auditable and accessible metrics
- Defining target personas
- Lean marketing and customer acquisition
- Intro to Analytics
- Take home activities
- Prototype presentation
- Validated learnings presentation
- Business model evaluation and update
- Pivot or proceed decision
- Guest Speaker - How To Raise Seed Funding
- Q&A with class and facilitator
- Celebratory breakup drinks (!)
Class time: 2.5 hours Monday & Wednesday nights (5 hours total) Homework: 2-4 hours per week
Who Should Take This Workshop?
If you answer yes to any of the following questions then the lean startup short course is for you.
- Do you have an idea for a startup but aren't sure where to begin?
- Are you working for a large company and have an idea you'd like to explore on the side?
- Already working on a startup but not getting the results you'd like (and wasting a lot of money doing so)?
- Looking to implement the lean startup within a large company or an SME?
- Looking to get involved in internal innovation projects at a large company?
- Intro to the Lean Startup (desired but not essential)
- How To Think Like an Innovator (desired but not essential)
- Enterprise Innovation Fundamentals (desired but not essential)
What To Bring
- Pad and pen
- The right side of your brain
- Anything from suits and ties to jeans and Chuck Taylors! Innovation isn't dependent on dresscode.
- Contact the team at firstname.lastname@example.org or (03) 9996 1257 to enquire about group bookings.
- Our workshops and classes can take place both on campus, on-site at your organisation as well as third party sites and events such as conferences.
About The Instructor
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.
Still Not Sure?
Come along to a FREE intro class!
- How to develop your initial business model and key assumptions
- How to quickly build cheap but effective prototypes to test your key assumptions
- How to develop and measure key actionable metrics to gain valuable insights to guide you towards product market fit
- Completed business model
- Completed value proposition
- Set of experiments and metrics to test key business model assumptions
- A virtual prototype
- A working and live minimum viable product
- Key metrics to measure and optimise towards helping find product market fit
- A lean marketing strategy
- Group feedback and expert insights
- Notebook and pen
- The right side of your brain
Anything from smart casual to corporate
Vendor since 2015
Open Innovation Hub where Startups and Corporates alike can Learn, Connect, and Innovate - together.
Offering short, high-impact classes and workshops on Lean Startup, Digital Marketing, Data Science, Design Thinking and Agile Methodologies.
Disrupt yourself, before someone else does.