The Lean Startup Methodology will change how Enterprises build products

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In this hyper-competitive age, enterprises are not only dealing with stiff competition from their peer enterprises, but also dealing with competition from startups that are trying to disrupt the market that those enterprises dominate.   It is for this reason that Enterprises need to get better at building products. And they need to be able to build them faster, and at the same time, fail faster in the event that a product doesn’t work out.  This is especially critical as most startups are very nimble and can pivot quickly to build a better product.  Enterprises have difficulty doing anything quickly.  In fact, it is so difficult that this according to this Harvard Business Review article, 75% of consumer packaged goods and retail products fail to earn $7.5 million in their first year!

We have many examples of failed products right in front of us (see: Microsoft Vista or Blackberry Playbook).  So, how can enterprises become better at this?

Enter the Lean Startup Methodology.   Although this methodology was primarily created for helping startups build a product quickly, it is beginning to be adapted to work in different industries. .  As such, enterprise are beginning to adopt the Lean Method to help them build successful products faster.

James Donnelan has an excellent blog post which explains what the Lean Startup Model is all about.  He writes:

…the lean startup model, when you boil it down, simply says that when you launch any new business or product you do so based on validated learning, experimentation and frequent releases which allow you to measure and gain valuable customer feedback. In other words – build fast, release often, measure, learn and repeat.

The ability to “build fast, release often, measure, learn and repeat” is the core principle to the Lean methodology, and is a critical element that many large corporations are missing today.   James goes on to list the principles of the Lean Startup Methodology:

    • “Use a continuous delivery model to release new features quickly with the least amount of friction.
    • A/B test different versions of the same feature on different user segments to identify which is more valuable.
    • Act on metrics – if you can’t measure it you can’t act on it to ensure that you are always improving the product.”

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We’ve already seen some companies adopt this methodology.  Facebook and their release of code 2x a day being a very popular example of how this methodology is working in the enterprise.   But companies like Facebook and Google are quite innovative and therefore not the best example of your common enterprise.  The typical company will need assistance in learning how to implement LSM and will need access to tools that will keep them committed to this methodology.

I strongly believe that most companies will have to adopt this methodology, in order to succeed in today’s competitive market, and that is why I’m thrilled to announce Clippership’s investment in a company that is at the forefront of this movement.   Along with Upfront Ventures and others, we are proud to be investing in  Lean Startup Machine.   Trevor Owens, the founder and CEO of Lean Startup Machine has been a thought leader in this area, and the company is already offering hundreds of Lean Startup workshops over the world.  Trevor and his co-founder/CTO Obie Fernandez have also written a book about how the LSM can be implemented in the enterprise.  It is a must read for all those that are looking to get a head start on learning this methodology.

Key Takeaways:

  • Enterprises are facing stiff competition not only from their peers, but also from startups that are trying to disrupt markets.
  • Enterprises will need to get better at creating/updating products quickly.
  • The Lean Startup Methodology will be the new de factor methodology that enterprises will use to create and deliver successful products.

Awards are nice, but your customers are what really matter

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I was recently named to the MSPmentor top 250 Influencers list.   I am very humbled by this honor, and am truly appreciative to MSPMentor for recognizing me for this distinct honor.   This morning I started thinking about what this award means.   Like I mentioned before, it’s really nice to be recognized amongst your peers, and it definitely is another badge of honor that one can wear.  You can definitely use these awards to build credibility with new clients, and just as a general marketing campaign. But that’s really all it is.  What we truly aim for at Simplegrid is striving to be the best at what we do, to deliver the highest quality of service to our clients, to create a challenging yet welcoming atmosphere for our employees, where they can learn and grow, and continue to be thought leaders in the technology industry.   So, while an award can recognize those qualities, the true recognition comes when a client turns around and says “Thank you, you’re doing a great job for us.”

We got a call like that today.   And I wouldn’t trade that call for any award in the world.

Key Takeaways:

  • Aim to be the best at what you do, and the recognition will come
  • Awards are nice, but they are no more than a badge of honor that you can use to grow your brand.
  • Your customer is your highest priority, and having satisfied/grateful customers is the best reward of all.

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Lessons from my first failed startup

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Before I started Simplegrid, I had actually started another IT consulting firm, which completely failed. This firm was started with 7 friends who were all interested in working together. We realized very quickly that this model wasn’t going to work. All of us had overlapping skills sets, and didn’t have the complimentary skillsets that are needed for a business to succeed. For example, we were all technologists, but no one had sales or administrative experience.

Beyond that, we were suffering from too many cooks in the kitchen syndrome, so all seven of us had to agree in order to make a decision to be finalized. It would take us weeks to come to a decision on something as simple as to where to open our bank account. Lastly, since we were all friends, no one wanted to step on each other’s toes, and no one wanted to do the more mundane work that is needed in the beginning stages of a business.

I was very serious about starting a IT consulting firm, and saw it as a big part of my career, so I had to make a tough decision and let my friends know that I wouldn’t be working with them, but rather starting my own firm.  It was a tough time as many feelings were hurt.  I learned a lot of lessons from this one failure, that I think can be applied to all businesses:

  • Never start a company with more than 2 or 3 (max) co-founders.   If you do have co-founders, make sure that each of you have complementary skill sets.  For example, if one of you is the technical one, the other should have a strong skill set in sales.
  • Try not to go into business with your friends.   Unless you can separate out the business aspect of your lives, from the pleasure aspect of your lives (and believe me, not many people can), you’re looking for trouble as issues in your business will spill over into your personal lives.  Do you really want to involve your other friends, or even your families in your business issues?  Do you want to go to a party and be upset because your partner isn’t pulling his weight, but you can’t tell him that cause he’s your friend?  It’s a really bad idea.
  • Fail fast.  You’ll know when the writing’s on the wall.  In my situation, it was obvious that this firm wasn’t going anywhere.  It’s always better to cut your losses and try again.

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Entrepreneurship and MBA programs

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I’ve been fortunate enough to attend two world class educational institutions – first as part of the Executive Masters in Technology Management program in the University Of Pennsylvania’s Engineering School, which was co-sponsored by the Wharton School, and now as a MBA candidate with the Kellogg School of Management.   I’m also very fortunate to be one of the few people in both of my cohorts to be an active entrepreneur.   While I found my time in both programs to be very valuable – something I wouldn’t trade for anything, I do have one piece of advice to everyone who wants to be an entrepreneur:

Don’t go to business school to become an entrepreneur.

Don’t get me wrong.  As I said before, I loved my time in both those programs,  especially the time I spent at Kellogg.  I’ll will remember the time spent and education received at Kellogg as a major turning point in my life.   My time at Kellogg and Wharton really showed me how to manage a business.  It changed the way I think.  I know look at business problems from a much more strategic point of view, and the thought of shareholder value constantly permeates my thinking.  I’ve been well equipped to understand how the major functions of a business – finance/accounting, economics, operations, marketing, leadership, all intertwine in a symphony that must be perfectly balanced for true success.  I have a new found respect for (most) of the Fortune 500 CEO’s who have to make critical decisions based on imperfect data.   And the global of network of alumni that I now have access to through both schools is top notch.

But I didn’t learn how to raise a seed round.  No one taught us how to build a top notch product, or how to disrupt stagnant markets with innovative solutions.  There were no mentors there that help guide me through the growing pains that every startup endures.  No one to teach me how to recruit, or when to recruit or when to not hire people because I really don’t need them.  I wouldn’t find a CTO at business school – everyone is like minded – they’re all business folk!  While there were many people who wanted to be entrepreneurs, no one was willing to take the risk of being one.  And no one told me that all the time I would spend studying for my MBA would be time lost in building a kick ass product.

The reality is that all the topics that you need learn to manage a business – finance/accounting, marketing – and things you need to learn when starting a technology based business – UX design,  Product Management and Back End development can be found online such as Khan Academy or in a more formal in person class like those taught at General Assembly.    You don’t need to spend $150,000+ and countless hours to gain that knowledge.  Hell, that $150,000 and those countless hours could be used to build your first prototype without having to raise a seed round instead!

Sure, both Kellogg and Wharton are trying to tap into the new era of entrepreneurs we’re experiencing now.   Wharton even has a business plan competition, startup clubs, and an incubator.  Kellogg unfortunately is a bit behind in this, but are trying to catch up.  Regardless, like I mentioned before, you’ll be around like minded people – essentially forming an echo chamber, and echo chambers lead to failure.

If you want to build a strong network of contacts, really understand business principles, and eventually manage larger organizations, then an MBA may be the right thing for you to do.  But if you want to become an entrepreneur, trust me.  Build your company first.  The MBA can come later when you need to scale your company into that multi-billion dollar business.  It’s not going to help you launch it.

Key Takeaways

  • An MBA program is not well suited for those trying to become Entrepreneurs
  • An MBA program can help you scale a business, it won’t help you launch one.
  • The knowledge that you need to start a business is easily available in other mediums, use the saved MBA tuition money and time not studying to build your product.

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Getting Started

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They say the hardest part is starting.   “They” are definitely right about that.  I’ve been thinking about starting a blog for quite some time now, but always found a good excuse to not start.  I always told myself that I wouldn’t have a good topic to write about, or that no one will really want to hear what I have to say.  These may be true, but I finally came to the realization that I won’t know that for sure until I actually start.

A little about me – I’m currently a partner at a Technology Consulting firm called Simplegrid Technology, Inc..   I’m also pursuing my Executive Master’s in Technology Management at the Penn School of Engineering, Co-Sponsored by the Wharton School.  I also have a 2 yr. old son, and are expecting our second child very soon.

I hope to share with you my thoughts/experiences on running my business, pursuing an advanced degree, and other projects that I may be working on.  Now, I realize that there are folks out there have much more valuable insight that I can offer, but I hope to reach those of you out there that may be in a similar situation, that may be learning as they go and may be able to put yourselves in my shoes to see what I did right… and what I did wrong.

I’ll also put some lessons as a summary at the bottom of my posts, to help condense what the major take away is from each post.

It’ll be interesting to look back in a few years to see how this plays out.  I think it’s a good experiment.

Lessons

  • The first step is the always the hardest.
  • You’ll never know what your capable of until you try.
  • Be concise.  You don’t have to write a book for every blog post… a few paragraphs will do.
  • Don’t be afraid of failure – instead take every situation you’re in as a learning exercise and improve on it.

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