With a ~$2 billion endowment the Kauffman Foundation is the largest non-profit focused on entrepreneurship in the world. Giving away $80 million to every year (~$25 million to entrepreneurial causes) makes Kauffman the dominant player in the entrepreneurship space.
Kauffman launched Founders School - a new education series to help entrepreneurs develop their businesses during the startup stage by highlighting how startups are different from big companies.
In January 2014 Part 1 of the “Startups” section of Founders School went online.
Now you can watch Part 2 “The Lean Approach."
This group of six videos provides an overview of how to successfully do Customer Discovery. You’ll learn how to:get to know your customersdevise ways to test your hypothesesglean insights from what you learn outside the buildingget, keep and grow customers
As in the first part of this series, I’m in good company – I’m joined in Founders School by Noam Wasserman of Harvard teaching Founder’s Dilemmas, Craig Wortmann University of Chicago covering Entrepreneurial Selling, Peter McDermott helping understand Intellectual Property, and Nathan Gold offering how to give Powerful Presentations.
These videos are not only great tutorials for founders but also provide educators with another source of well produced and curated resources.
These “Startup and The Lean Approach” videos are a great general purpose companion to my “How to Build a Startup” lectures on Udacity.
And you get a tour of my living room and office…
Introduction, for Part 2 is here0:50: There are No Facts Inside Your Building — Get Outside1:28: Using the Business Model Canvas1:49: Use Customer Development to Test Your Hypotheses2:44: What is a Pivot?4:24: No Business Plan Survives First Contact with Customers0:24: What is Customer Development?1:09: How Do You Start the Customer Development Process?1:36: Customer Discovery is a Series of Conversations2:05: The Founder and Customer Development3:16: Real World Example of Customer Development0:31: Designing Experiments to Test Hypotheses0:48: Doing Customer Discovery Without Collecting Data is a Sin1:06: Insight is Key1:49: Why Accountants Don’t Run Startups0:18: What is a Minimum Viable Product?0:38: What to Test, Why to Test and How to Test2:05: You’re Not Building a Product … You’re Getting Customer Feedback2:53: Use MVPs to Run Experiments4:15: Real World Example of an MVP0:47: Get, Keep and Grow Customers1:00: Create Customer Demand1:46: Customer Archetypes: Getting to Know Your Customers3:35: Matching Archetypes to Acquisition5:28: Growing Customers: The Lifetime Value7:35: The Biggest Mistake in Customer Acquisition