Running Lean: Iterate from Plan A to a Plan That Works by Ash Maurya
Running Lean is a systematic process for iterating from Plan A to a plan that works, before running out of resources.
- In Lean Startup, we strive to optimize utilization of our scarcest resource, which is time. Specifically, our objective is maximizing learning (about customers) per unit time.
- The first step is writing down your initial vision and then sharing it with at least one other person.
- Your job isn’t building the best solution, but owning the entire business model and making all the pieces fit.
- The bigger risk for most startups is building something nobody wants.
Stage 1 – Problem/Solution Fit
Stage 2 – Product/Market Fit
Stage 3 – Scale
Key Question: Do I have a problem worth solving?
The first stage is about determining whether you have a problem worth solving before investing months or years of effort into building a solution. While ideas are cheap, acting on them is quite expensive.
A problem worth solving boils down to 3 key questions:
- Is it something customers want? (must-have)
- Will they pay for it? If not, who will (viable?)
- Can it be solved: (feasible)
Stage 2: Have I built something people want? & Stage 3: How do I accelerate growth?
Distinguish between customers and users. Customers pay you for your product, users do not.
- You can’t effectively build, design and position a product for everyone.
- Be different but make sure your difference matters. UVP – Unique Value Proposition.
- A good UVP gets inside the head of your customers and focuses on the benefits your customers derive AFTER using your product.
Instant Clarity Headline = End Result Customer Wants + Specific Period of Time + Address The Objections
Exp: “Hot fresh pizza delivered to your door in 30 minutes or its free.”
- First sell manually, then automate.
- You have to sell your product yourself, before letting others do it.
- Getting paid is the first form of validation.