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The must-read guide to driving innovation by building a product that people actually want, The Lean Entrepreneur presents a lexicon of concepts and a map universally applicable as well as illustrative examples of innovative approaches to industry-specific disruption ranging from technology startups to consumer packaged goods to music and artist development to investment and finance to non-profits and social entrepreneurs.
A Lean Entrepreneur has already bought into Lean Startup, Customer Development, Design Thinking and other iterative, customer-centric methods of product development. The lean entrepreneur wants to know how to apply these to their business.
In other words: how to get started tomorrow.
Lean entrepreneurs also include "intrapreneurs" in the Fortune 500. How do they engage these valuable methods for tackling product development as well as sales and marketing in uncertainty in spheres outside of technology-driven endeavors?
The goal of The Lean Entrepreneur is to make Lean Startup and Customer Development principles immediately actionable no matter what your industry, size, or stage.
Designed to reduce waste by testing the market for a product early and often, the concept of the lean startup has been embraced around the world, and successful entrepreneurs and authors Brant Cooper and Patrick Vlaskovits join the conversation with their own personal experiences.
Providing a step-by-step approach to best practices, and giving readers a business model analysis guide, the book is rich in cases studies, illustrative graphics, worksheets, and exercises for a truly immersive guide to starting or improving a company. Invaluable reading for all businesses, the book teaches entrepreneurs how to approach risk head-on and test market ideas immediately, foster stronger customer relations, test different business model risks, and create a customer funnel based on buyers' process in order to eliminate unnecessary time and effort.
- Expands on the core ideas of the “Lean Startup” concept, adding the use of powerful, low-cost analytics to the mix
- Explains how earlier, more frequent market research can save a business time and money
- Incorporates cases studies, graphics, worksheets, and exercises to help readers better understand the key concepts expounded in the text
Packed with information that can help business at all levels of development—from initial ideas to established companies looking to innovate—The Lean Entrepreneur is the field guide for creating innovative businesses.
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About the Author
Brant Cooper helps kickstart innovation. He helps organizations big and small move the needle. Coming from the startup world, his career includes Tumbleweed, Timestamp, WildPackets, inCode, and many others. He has experienced IPO, acquisition, rapid growth, and miserable failure. Prior to the New York Times bestselling The Lean Entrepreneur, Brant authored The Entrepreneur's Guide to Customer Development, the first purpose-written book to discuss lean startup and customer development concepts, earning a distribution of over 50,000 copies. Through Market By Numbers, he helped develop and publish the bestselling The Lean Brand, bringing lean innovation practices to the marketing side of the house. Brant is Co-Founder and CEO of Moves the Needle, which has worked with hundreds of thousands of entrepreneurs and intrapreneurs across the globe. He is an internationally sought-after keynote speaker, startup mentor, and corporate advisor, and has presented to and worked with leading companies such as Google, Qualcomm, Intuit, Capital One, GE, and Transamerica. Brant tweets at @brantcooper. He lives with (and continuously learns from) his two daughters, Riva and Eliza, near Swami's in Encinitas, California.
Patrick Vlaskovits is a New York Times bestselling author, speaker, and entrepreneur. His writing has been featured on the Harvard Business Review blog, the Wall Street Journal blog, and The Browser. Patrick routinely speaks at technology conferences nationally and internationally, including SXSW, GROW Conference, the Turing Festival, and the Lean Startup Conference. The Lean Entrepreneur is his second book. The first, The Entrepreneur's Guide to Customer Development, is a required course text for MBA and undergrad students at universities such as the University of Chicago Booth School and Berkeley. He has also guest-lectured at Stanford and UCLA. Patrick advises multiple technology startups, and serves as a mentor for 500 Startups, a seed fund and startup accelerator. As a speaker and consultant, he counts Fortune 100 companies in his client list. For some unknown reason, Patrick holds a master's in economics from UC Santa Barbara. He lives in Austin, Texas with his family. Tweet at him @Pv.
Table of Contents
Special Thanks ix
Chapter 1: Startup Revolution 1
Bytes Eating the World 2
The Value-Creation Economy 4
Cue the Lean Startup 8
Meet the Lean Entrepreneur 9
Lean Startup and Disruption 11
Chapter 2: Lean into Change 13
Enterprise Note 18
Customer Focus 22
Organizational Structures 24
The Team 25
Big, Old, and . . . Lean? 26
Over the Horizon: A Framework 28
Work to Do 33
Chapter 3: All the Fish in the Sea 35
Business Models 37
Know Your Audience: Why Segmentation Matters 39
Market Segment 40
Personas: Create a Real Customer 42
Choosing a Market Segment 44
Work to Do 51
Chapter 4: Wading in the Value Stream 55
Articulating the Value Stream 55
About Value Streams 57
Value Stream Discovery 60
Work to Do 79
Chapter 5: Core Lean Entrepreneur 83
The 3 Es: Empathy, Experiments, Evidence 83
Work to Do 116
Chapter 6: The Lean Journey 117
From Here to Eternity: Growth Phases 119
Phase 1: Idea Phase: This Is Gonna Be Big! 120
Phase 2: MVP for a Few: I’ve Proven That a Few People Care! 122
Phase 3: A Funnel of Many: I’ve Proven That a Lot of Similar People Care, and Some Are Gaga! 131
Phase 4: Multiple Funnels: Holy Wow, We’re Growing Like Crazy with a Bunch of Different Groups of People! 139
Phase 5: Scaling a Profitable Business Model: Shampoo, Rinse, Repeat 145
Finally, Enterprise: Large and Successful; Slow and Bureaucratic 146
Chapter 7: The Final Word 149
Work to Do 152
Appendix: Case Studies 155
Acknowledgments (1st Edition) 185
About the Authors 188