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Entrepreneurship: Lean Startup and Customer Development

Entrepreneurship: Lean Startup and Customer Development. Lana Bachman BUS 527 Special Topics in Entrepreneurial Management (Creativity and Innovation in Business and IT) May 22, 2014.

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Entrepreneurship: Lean Startup and Customer Development

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  1. Entrepreneurship: Lean Startup and Customer Development Lana Bachman BUS 527 Special Topics in Entrepreneurial Management (Creativity and Innovation in Business and IT) May 22, 2014

  2. IMVU Case Study: Eric Ries Lean Startup approachSnaptaxt story: Lean Startup from a big corporation Intuit

  3. Eric Ries & Will Harvey • IMVU: Lean Startup • 1 million VC • Team centered • Beta • Culture- Transparency • There: Traditional • 40 million VC • Hierarchical • Baked • Culture- “information-hiding” h

  4. 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.

  5. The Customer Development Process More startups fail from a lack of customers than from a failure of product development • Try many times before you get it right. • It is OK to fail so plan to learn from it. • Only move to the next stage when you learn enough and reach the “escape velocity” http://www.ctinnovations.com/images/resources/Startup%20Owners%20Manual%20-%20BlankDorf.pdf

  6. The Lean Start-Up Steve Blank, "Why The Lean Start-up Change Everything," HBR, May 2013. (link)

  7. IMVU Today

  8. Snaptaxt Story: Lean Startup from a big corporation Intuit- by Charin Storm http://prezi.com/7hpok6sousw4/?utm_campaign=share&utm_medium=copy&rc=ex0share

  9. Sources: Minder Chen, Ph.D. Professor of MIS, Martin V. Smith School of Business and Economics California State University Channel Islands. Minder.chen@csuci.edu, Jan. 15, 2014 IMVU Case Study (Eric Ries was the CTO and it was where he learned the Lean Startup approach http://prezi.com/7hpok6sousw4/?utm_campaign=share&utm_medium=copy&rc=ex0share <http://www.nytimes.com/2011/01/15/technology/personaltech/15phone.html?_r=0> http://venturebeat.com/2013/05/13/lockwood-publishing-will-debut-3d-avatars-in-its-avakin-poker-mobile-game-exclusive/

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