Running Lean: Raise Your Odds of Building a Successful Product

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We live in an age of unparalleled opportunity for innovation. With the advent of the Internet, cloud computing, and open source software, the cost of building products is at an all-time low. Yet, the odds of building successful startups haven’t improved much.

Most startups still fail.

The number one reason startups fail is not because they fail to build what they set out to build, but because they spend too much time, money, and effort building the wrong product.

When entrepreneurs get hit by an idea they either rush towards building out their solution or rush towards finding investors. Both of these approaches take a lot of time and energy, and can be overwhelming. They are also backwards.

I attribute the entrepreneur’s, often unbridled and singular, passion for the solution as the top contributor to this failure. People place too much emphasis on the original idea but studies conducted on product success and failure tell a different story. It has been statistically shown that most initial ideas don't work as anticipated. Rather, what separates successful entrepreneurs isn't starting with that perfect idea (or Plan A) but finding a plan that works before running out of resources. That last part is key.

This class will show you how.

The class is designed for entrepreneurs/intrapreneurs looking to launch a startup idea or bring a new product to market. It will show you how to get starting by first capturing your initial vision (or Plan A) and then how to bullet-proof this vision and begin the process of stress-testing your business model.

What you’ll learn:

• How to capture your vision on a single page
• Refining your vision into a bullet proof business model
• Finding a compelling problem that is worth solving
• The critical components of different business models
• How to de-risk your plan through conversations
• What matters most to investors

Lean Canvas: Create an account and download here. 

• Kickoff Lecture
• Why Products Fail (13:13)
• Capture Your Business Model in 20 Minutes (11:30)
• Top 10 Business Model Pitfalls (11:45)
• Systematically Test Your Plan With Experiments (23:55)