In this lesson, we’re going to dip our toes into the lean startup methodology by generating business ideas and examining a case study from the book Running Lean.
Bug Me List
A great way to start a business is to solve a problem. If you can identify a severe enough problem and find a solution that solves it, chances are good that people will pay you money so they don’t have to deal with that problem any more.
In this lesson we’re going to identify a number of things that bug you in life. Once you have this list, you can start thinking of solutions that might then be able to be turned into businesses.
Click on the Running Lean book image and scroll to page 15 (pdf page 45). This brief chapter breaks the entire lean startup process into four distinct steps:
- Understanding the Problem:
- Defining the Solution:
- Validating Qualitatively:
- Verifying Quantitatively:
Now that you have a list of business ideas, let’s run a thought experiment and apply the four steps above to your business idea. Via Google Classroom, complete the Four Steps to a Business worksheet.
Four Steps to a Business – Part 2
In groups of three, select one of your business ideas from last class that you think you could actually pursue and iterate upon it. If one of your ideas requires complicated manufacturing or technical know-how that you don’t have, I would encourage you to choose a different idea.
Working together, create a 4 slide pitch deck that:
- Introduces a problem
- Defines a solution (this solution is the basis of your business)
- Addresses how you will receive qualitative feedback early to learn about your business
- Describes how you will create a feedback loop to continuously improve your business