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Running Lean

Ash Maurya book on Lean Startup process. 3rd edition ISBN:1098108779 https://www.leanfoundry.com/books/running-lean

2022 Table of Contents

Introduction

  • A Tale of Two Entrepreneurs
  • One Year Ago…
  • Off to the Races
  • Six Months Later
  • Catch-22
  • A Traction-First Approach Is the New Way Forward
  • What Determines Success Isn’t Differing Skill Sets But Differing Mindsets
  • The Stakes Are Much Higher This Time
  • Speed of Learning Is the New Unfair Advantage
  • Succeeding in the New World Requires New Mindsets
  • You Can’t Afford to Wait for an Idea Whose Time Has Come
  • Steve Learns About Minimum Viable Products
  • Don’t Start with an MVP
  • There Is a Systematic Approach to Entrepreneurship
  • About Me
  • How This Book Is Organized
  • Part I: Design
  • Part II: Validation
  • Part III: Growth
  • Is This Book for You?
  • Does It Work for Services and Physical Products?
  • Practice Trumps Theory

I. Design

  • 1. Deconstruct Your Idea on a Lean Canvas
  • Sketching Your First Lean Canvas
  • Customer Segments
  • Problem
  • Unique Value Proposition
  • Solution
  • Channels
  • Revenue Streams and Cost Structure
  • Key Metrics
  • Unfair Advantage
  • Refining Your Lean Canvas
  • So, How Do You Avoid the Goldilocks Problem?
  • How Do You Know When to Split Your Lean Canvas?
  • Steve Splits His Big Idea Canvas into Specific Variants
  • What’s Next?
  • 2. Stress Test Your Idea for Desirability
  • Defining Better
  • Our Innovator’s Bias Gets in the Way
  • Meet the Innovator’s Gift
  • Unpacking the Innovator’s Gift
  • Steve Challenges the Innovator’s Gift
  • Using the Innovator’s Gift to Stress Test Your Idea for Desirability
  • Customer Segments: Keep It Simple
  • Early Adopters: Forget Personas
  • Existing Alternatives: Transcend Category (competition)
  • Problems: What’s Broken with the Old Way?
  • UVP: How Will You Cause a Switch? (competition)
  • Steve Realizes He Has a Hammer Problem
  • 3. Stress Test Your Idea for Viability
  • Don’t Create a Financial Forecast; Use a Fermi Estimate Instead (Fermi estimation)
  • What Is Traction?
  • Welcome to the Customer Factory
  • Testing the Viability of Your Idea Using a Fermi Estimate
  • Define a Target Throughput Goal
  • Test Whether Your Idea Can Deliver Your Target Throughput Goal (see Rapid Viability Test)
  • Revise Your Goal or Fix Your Business Model
  • Running a Fermi Estimate on Your Idea
  • Steve Reviews His Business Models with Mary
  • 4. Stress Test Your Idea for Feasibility
  • Charting a Traction Ramp
  • Steve Charts His Traction Roadmap
  • Formulating a Now-Next-Later Rollout Plan
  • Stage 1: Now—Problem/Solution Fit
  • Stage 2: Next—Product/Market Fit
  • Stage 3: Later—Scale
  • Steve Gets a Lesson on Right Action, Right Time
  • Steve Learns About Wizard-of-Oz MVPs
  • Steve Formulates His Now-Next-Later Rollout Plan
  • 5. Communicate Your Idea Clearly and Concisely
  • What’s Your Elevator Pitch?
  • Outlining Your Elevator Pitch
  • The Different Worldviews of an Idea
  • The Investor Worldview
  • The Customer Worldview
  • The Advisor Worldview
  • Delivering Your Business Model Pitch
  • The 10-Slide Business Model Pitch Deck
  • Desirability
  • Viability
  • Feasibility
  • Steve Shares His Business Model Pitch with Others

II. Validation

  • 6. Validate Your Idea Using 90-Day Cycles
  • The 90-Day Cycle
  • A Typical 90-Day Cycle
  • Getting Ready for Your First 90-Day Cycle
  • Assemble the Right Team
  • Establish a Regular Reporting Cadence
  • Seven Habits for Highly Effective Experiments
  • 1. Declare Your Expected Outcomes Upfront
  • 2. Make Declaring Outcomes a Team Sport
  • 3. Emphasize Estimation, Not Precision
  • 4. Measure Actions, Not Words
  • 5. Turn Your Assumptions into Falsifiable Hypotheses
  • 6. Time-Box Your Experiments
  • 7. Always Use a Control Group
  • Steve Establishes an External Accountability Structure
  • 7. Kick Off Your First 90-Day Cycle
  • Steve Calls a 90-Day Cycle Kickoff Meeting
  • The Problem/Solution Fit Playbook
  • Customers Don’t Buy Products, They Buy a Promise of Something Better
  • How to Make a Promise of Better
  • When Are You Done with Problem/Solution Fit?
  • Steve Calls a 90-Day Cycle Planning Meeting
  • The Mafia Offer Campaign
  • Building a Mafia Offer
  • Running a Mafia Offer Campaign
  • When to Use a Mafia Offer Campaign
  • Steve Tries Taking a Shortcut
  • Mary Bursts Steve’s Bubble (Again)
  • No Surveys or Focus Groups, Please
  • Are Surveys Good for Anything?
  • Preemptive Strikes and Other Objections (or Why I Don’t Need to Interview Customers)
  • 8. Understand Your Customers Better Than They Do
  • The Problem with Problems
  • Case Study: Using Problem Discovery Interviews to Drive New Home Sales
  • Focus on the Bigger Context: The Job-to-be-Done
  • Case Study: Using Problem Discovery Interviews to Build Better Drill Bits
  • Finding the Bigger Context
  • Scoping the Bigger Context
  • Diving Deeper into a Bigger, More Specific Context
  • Running a Problem Discovery Sprint
  • Broad-Match Versus Narrow-Match Problem Discovery Sprints
  • Finding Prospects
  • Steve Kicks Off the First Problem Discovery Sprint
  • Conducting Interviews
  • Steve Creates a Meta-Script for His Interviews
  • Capturing Insights
  • Steve Reviews the Results of the Broad-Match Problem Discovery Sprint
  • When Are You Done with Problem Discovery?
  • The Altverse Team Uncovers Several Additional Jobs-to-be-Done
  • 9. Design Your Solution to Cause a Switch
  • Steve Learns About the Concierge MVP
  • Running a Solution Design Sprint
  • Addressing Desirability
  • Addressing Viability
  • Addressing Feasibility
  • The 5 P’s of MVP
  • Steve Takes a Stab at the 5 P’s of MVP
  • 10. Deliver a Mafia Offer Your Customers Cannot Refuse
  • Case Study: The iPad Mafia Offer
  • Running an Offer Delivery Sprint
  • Assembling Your Offer
  • Define the Characters in Your Customer Story Pitch
  • Outline the Structure of Your Customer Story Pitch
  • Steve Shares His Customer Story Pitch Outline with the Team
  • Delivering Your Offer
  • Optimizing Your Offer
  • Measure Your Customer Factory Metrics Weekly
  • Identify Your Key Constraint
  • Formulate Ways of Breaking the Constraint
  • Steve Meets with the Team to Review the Results of Their First Offer Delivery Sprint
  • When Are You Done with Offer Delivery?
  • 11. Run a 90-Day Cycle Review
  • Steve Calls a Pre-Review Meeting Just with Mary
  • Preparing for the Meeting
  • Collect/Update Artifacts
  • Assemble a Progress Report Pitch Deck
  • Running the Meeting
  • Steve Calls a 90-Day Cycle Review Meeting

III. Growth

  • 12. Get Ready to Launch
  • The Altverse Team Prepare for Launch
  • Keep Your Customer Factory Running
  • Look for Ways to Automate Your Customer Factory
  • Race to Value Delivery
  • Extend Your Customer Factory Metrics Dashboard
  • Roll Out Your MVP in Batches
  • The Altverse Team Launch Their Concierge MVP
  • 13. Make Happy Customers
  • The Altverse Team Learns About Behavior Design
  • The Happy Customer Loop
  • Don’t Be a Feature Pusher
  • Implement an 80/20 Rule
  • Prevent a Switch
  • Outlearn the Competition
  • Reduce Friction
  • Learn the Science of Habits
  • Chart a Customer Progress Roadmap
  • Trigger Your Customers
  • Help Your Customers Make Progress
  • Reinforce Progress
  • The Altverse Team Calls a 90-Day Cycle Review Meeting
  • 14. Find Your Growth Rocket
  • The Altverse Team Learns About Growth Rockets
  • The Rocket Ship Growth Model
  • Launching Rocket Ships
  • The Three Types of Growth Loops
  • The Revenue Growth Loop
  • The Retention Growth Loop
  • The Referral Growth Loop
  • Can You Have Multiple Growth Rockets?
  • Finding Your Primary Growth Rocket
  • Short-Listing Growth Rocket Candidates
  • Validating Your Growth Rocket
  • Optimizing Your Growth Rocket
  • Steve Makes Mary an Offer She Can’t Refuse

15. Epilogue

  • The BOOTSTART Manifesto
  • 1. Entrepreneurs Are Everywhere
  • 2. The Persona of the Garage Entrepreneur Has Changed
  • 3. There Is No Better Time to Start
  • 4. Most Products Still Fail
  • 5. A Dozen Reasons Why Products Fail
  • 6. The Number One Reason Why Products Fail
  • 7. The Number Two Reason Why Products Fail
  • 8. You Don’t Need Permission to Start
  • 9. Love the Problem, Not Your Solution
  • 10. Don’t Write a Business Plan
  • 11. Your Business Model Is the Product
  • 12. Focus on Time, Not Timing
  • 13. Not Acceleration, but Deceleration
  • 14. Not Faux Validation, but Traction
  • 15. Remove Failure from Your Vocabulary
  • 16. It’s Time to Act on Your Big Idea
  • References and Further Reading

His 2012 process

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