Innovation via Lean Startup with Startup Weekend Case Study

Innovation via Lean Startup

By WizXpand International 耕慧國際 Date: 2011/10/07 Version: 0.1

Agenda

攜手用心耕耘蓄積商業智慧 Page 2

1. Innovation

2. Lean Startup 3. Success of “Startup

Weekend” event in TW

About Me


Current• Founder of Taiwan Professional• Co-Organizer of Startup Weekend Taipei • Certified PMP® Instructor & Consultant to clients like

Hi-Life, Qantas Air, FIME, TTL, Global Mobile • Speaker/trainer at various chamber: French and

German

Transforming• Mentor of SW Taipei Team• Student of lean startup • TWNPro 2.0 Project


innovation

• Definition

• Top companies

• Common Traits

• Challenges

Definition


the creation of better or more effective products, processes, technologies, or ideas that are

accepted by markets, governments,

and society.

"to renew or change“

What’s secrete of “superior success”?


I ask my 7 years old daughter

Dad “Honey! Which would be a great company” Tiana “Google / Apple / 7-11 ..” (without hesitation) Dad (woooow, she is no longer my baby girl) Dad “So, why 7-11, and not other?” Tiana “7-11 is more competitive” Dad “woow (she knows the word competitive” and I wonder

what I was doing when I was 7 years old) Dad “what you like about 7-11”

Competitive:Good Service / Fresh Food (taste the same defreeze)Better light / Wash Room / Clean / Great Product

Dad: So if other do the same, would you go other? Tiana: (she pauses) Well, depends, 7-11 will always be better

choice (only if they continue to be better)





Secrete Formula Innovative(produce new)+Entrepreneurial (take risk+$)

Most Innovated Companies


2011 Ranking1. Apples (3)2. Twitter (50)3. Facebook (1)4. Nissan (-)5. Groupon (-)6. Google (4)7. Dawning Information (-)8. Netflix (12)9. Zygna10. Epocrates

2010 Ranking1. Facebook (3)2. Amazon (27)3. Apple (1)4. Google (6)5. Huawei (18)6. -7. -8. -9. -10. -

#7: super computer / #10: Dug referenceSource: http://www.fastcompany.com/most-innovative-companies/2011/

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http://www.fastcompany.com/most-innovative-companies/2011/

Traits of Innovator


# Traits # Traits

1 Ability to set the agenda(Vision)

6 Adaptability (implement from lesson learn)

2 Remarkable courage(excitement for uncover opportunity)

7 Creativity and practicality(feasible “out of box)

3 A stomach for uncertainty(making decision on info available)

8 An eye on the "Big Picture“(look out both inside and outside)

4 Networking and communication prowess (persuade and inspire)

9 Forming a team(balanced team with expertise)

5 A passionate champion for new projects (promotion and stakeholder management)

10 Always an optimist(see challenges as opportunities than problem)

Source: http://www.cioupdate.com/insights/article.php/3834941/The-10-Essential-Traits-of-an-Innovation-Leader.htm

http://www.cioupdate.com/insights/article.php/3834941/The-10-Essential-Traits-of-an-Innovation-Leader.htm

http://www.cioupdate.com/insights/article.php/3834941/The-10-Essential-Traits-of-an-Innovation-Leader.htm

Challenge of Innovation


• Great Manager• vs

• Great Leader

Indifferent

• Positive Support• vs

• Negative/HostileHostile

• Do it own• vs

• Team with expertIsolation

Source: http://www.businessweek.com/innovate/content/aug2008/id20080822_832405.htm


Lean Startup

• Why companies fail

• Why lean?

• Methology

• Next Step

Why business / project failed


“ New Thinking”#1 Do customer recognize the “problem” we are solving

#2 If there is solution… would customer buy the solution?

#3 Would customer buy from us?

#4 Can we build the solution for that problem?

“ Traditional Thinking”(do it backward)

Big Lesson from failed project (bad concept)


“I build, they buy”• No effort in testing “leap of faith”• Make things that no one wants

“idea is everything”• It is team, not idea• It is speed, not $

“Great Project Management is Key”• Do it on time, on budget, but no one wanted

What’s happening at work


Traditional • Get justification, feasibility and take holder• Write-down assumption and discussion

Lean Startup• Immediate testing of “assumption”• Breakdown big vision• Build a “MVP” (experiment) • Not working, “Pivot”

Definition


“Starting small, designing products with the smallest set of features to

please a customer base, and moving products into the marketplace quickly

to test reaction and make more

changes after that. “

Lean Startup by Eric Ries


Key Concept: Validated Learning


Discover what sustaining the business • What does customer want? • Which customer opinion to listen• Which feature is crucial • What please customer vs anger customer

Old Concept leads to failure Do it, and see what happen successful implementation without fruit

Do experiment to test “leap of faith” surrender vision+

Readjust+Build (with speed)

Key Concept: MVP and Example


MVP“Minimum effort to

complete the loop” in order to test “leap of faith

Case study: http://theleanstartup.com/casestudies

http://theleanstartup.com/casestudies


Start WeekendTaipei

• What is it• Next SW

Event

Startup Weekend Taipei


Entrepreneurship in 54 hr• High Level Pitch• Mentorship• 10 teams

• Logo• Fan page > 2000 fan• Survey > 100 people

Conclusion


“Politician vs Entrepreneur”

“Manager vs Leader”

“Project Mgmt vs Lean Startup”

Contact


Name: David KuoCell: 0952509872Facebook: david.kuoSkype: 0305

Business

Innovation via Lean Startup with Startup Weekend Case Study