Myth of the visionary. How to build a business using lean innovation principles
Brant, Cooper. Me, or Visionnaire stay cut pasture a business, now snow princess of lean innovation. Okay. So I, think, I think we have brand online, brand are you with us. Hi. I'm here can you hear me yes. So. Very welcome we can start right now. Great. Thank you so much I I am. Disappointed, that I couldn't be there with you I. I. Would. I'd. Like to claim on on president Trump I don't this one. So. We just had some, logistics. Tutors. But. I'm happy to be here. Who, yes. Skype. So. What. I wanted to talk to you about is this idea of, a, visionary. Basically. The idea is that. You. Must be a visionary. In order to have, a successful start. So. You. Are tinkering, in your garage usually. The way the story goes you're, hanging around with computer, chips and. Then. You have this brilliant idea just, comes you out of, the blue. And. You. Have this amazing idea and, now it is on you it is up to you. To. Go and produce that product because. You have snoot and feature. And. You. Know what, will work. The. Market is ready to beat a path to your door. Your. Your soon-to-be, you. Know a Earl pecan, because, this, you come up. The. Problem with that story is is, that. That's. Not how you build a successful business. We. Love that story here in the West. But. It's not true. So. Here's a picture of Mark, Zuckerberg, found. Her Facebook. This, is circa. 2004. And. He's being interviewed in Palo Alto he's, moot and, to. Silicon. Valley and. Somebody. Asks him an inner asks. Him. What. Is your vision for Facebook. And. He's sitting there he's got a he's actually got a keg in, front, of it in. In. The, US the red cup is. Representative. Of alcohol. So he a beer. And he's. There and his shirt, in his shorts he looks like this could be, 1986. And. But. Is what, is the vision would, it when you force her, face. And. He says well. I hope I make a cool, college. So. In other words what he's saying is is his vision, for place. Is. That. He hopes he makes a cool college, directory. People. Could look up their full at colleges. He. Didn't see what Facebook was was. Going to become he didn't even dream, of what Facebook could become. So. Why is. Why. Is considered. Of visionary. The.
Reason Is is because he's, a billionaire so. We. Call people visionaries. After. They achieved. Billionaire. Status after, they've built the startup. We. Look backwards, and say oh yeah that person, area. Look good. So. I like to tell audiences that if you, know I what. You use Facebook, being a LinkedIn, but if you have. If. You, have visionary. In your bio and you're not a billionaire, I just. You. Change your your profile. So. Who's this guy I. Want. You to think about what is the what. It's never. Representation. Of the. Eureka, moment. You're. Probably going to see it you know a few times, today, it's. A presentation. You. Will see a, bat. Clip art. Representation. Of, an. Idea. Of the great revolutionary. Idea of the Epiphany, the. Recommit. Well. It's of course it's the it's a lightbulb. And. Here's, the guy that invented the, lightbulb right. So. The story goes that. Invented. The lightbulb but he, had the scenery okay, and he thought of a lightbulb and so. There were the lightbulb, represents. This. New idea the, this. Yurikamome. Thing. Is is the Thomas Edison didn't, in my vote. When. He went to patent. The lightbulb. Because. The patent already, existed. Thomas. Edison won the race for a marketer, polite bill. Didn't. He didn't win the race to the lightbulb what's up so, he ran his. Team his team. His co-founder, is. Engineering. Literally. Ran thousands. Of experiments. Right. Figure out what would be the right material, to the. Filament. In. Order to make the light bulb a marketable. Product. So. It's not about Eureka moments. It's. About running experiments. So. Finally let's come to Steve, Jobs Steve Jobs also, the other, individual. Held up being, the epitome, of. The. Visionary, right, so this story goes this. Was literally a, presidential. Candidate, back in the 90s. You. Know Steve Jobs the, lone wolf. He's. Tinkering. With computer. Chips. In. His. Garage. Literally. Raj, and his. His. Dad comes out and he. Says. Steve. Either. You find a product that works or get, a job within. Two weeks.
Where. I'm yeah. And. So. Then. Steve, shop got. This here a moment. Those. Computer, chips and. He. Invented the, Apple, computer. Out. Of. A crate. Out of a box. His. Dad made for him. It's. A nice story. None. Of it's true. Innovation. Isn't doesn't, happen inside, a garage. When. When. Steve job that, came out with the iphone. Right everybody likes talk about the iphone it's being disruptive. Technology. The. Iphone actually, was. Using technology, that was used in a box. Including, a bunch of apples known products, that had been tested before. And. The sort of the genius behind it is a guy named Don I've. Certainly. You know Steve Jobs had an important role to play there. But. What was what, was. Revolutionary. And what was disruptive, about the iPhone, is. When. It was opened, up to third-party, developers. So. When the app star up into third-party developers, and anybody could, build an app on top of the iPhone, that, changed. The world. That. Was disrupted, that actually killed, companies. All over the world most overnight. One. Hundred and fifty hundred and eighty eighty year old companies, like Nvidia died, the. I. Big. But it's because the iPhone became, a platform. Not. Because it had a bunch of cool technology, in it. Steve. Jobs opposed, opening. Up the App Store to third-party developers. Well. Nobody. Was. A visionary. Why. Didn't you see it why, could you put a thing. Everybody. Inside of his company is investors. Developers, brawling. Oh we have to open it up open, it up. Steve. Opposed, opening up the App Store to third-party developers. A year. Later he. Relented, I. Phone. Took off. Steve. Jobs is a visionary. Thomas. Edison is a visionary, and. Even. Mark Zuckerberg, could be considered an visionary, not because they had a Greek a moment, because, they wanted to change the world and they were willing to do anything in order to the, world. They. Were willing to completely. Reinvent, their platform, they were really a thousand. Experiments they, were what you go. Against their principles, about opening up third part the Apple. So. So, real, visionaries. Are those that really we pursue, the change they want to see in the world. Not. How they're going to see that change. And. The. Only way that they get to do that it spike out, in the oak I'll be social, about working, with about. Getting feedback eating. In. True. Visionaries, relentlessly. Pursue the change they want to be in the world. So, we, here again it's sort of a very wet. Philosophy. Here, he's you, must work on quite passionate. About. So. Personally. Like I love. Basketball, and, I. Love bacon so. So. That should that be my startup I'm, confused. You. Know bacon, basketball, calm. It's. A dating, site for people who can't, stop, eating bacon, while, playing basketball. And. It doesn't seem like that's going to be very viable. Instead. Instead of. Working. On what you're passionate about it the trick is to be passionate about what you do. In. Order, to build a business you. Actually have to do a bunch of but, you don't want to do you. Have to bunch of things that aren't, fun they don't, love, you. Got a. Yep. Right back-end code you've, got a, sales. Call like. Cold calls. You. Gotta hire and fire people. Gotta, work with government. Regulations. That. Stuff isn't fun that you're not passionate about that. So. The trick is is actually to be to. Be passionate, about what you do. Live. In the moment and do those things as best as you can do. That's. How your company becomes successful. True, visionaries, are passionate, about what they do. So. There's another big myth. Which. Is go big or go home. And. This, is this is that you in order, to create value, in the world you, have to have this, billion-dollar. Business. You have to return the money to investors. Which. Is great if you can get there but we could also be celebrating. Smaller pants.
If. You're. Able to create a smaller business that, perhaps feeds, your family and you get to send your kids to college maybe you get to go on vacation, and it'd be in the summer that, should. Those. Type of businesses are hard to build and, here are the back from the middle class or the back own of the economy and. If, you're able to create a company, that's worth attending, worthy, or you employ a hundred, people that's a bit more difficult dude that's crazy hard. We. Should celebrate that. The. Trick is is that you have to your. Value, aligned. With eating. So. You can't take a bunch of investor, money and go build a lifestyle, business. Those. Things don't go together. You. Can't you can't not, take investor, honey and then think you're gonna go build a. Billion-dollar, business that goes public. Look. Don't, go together either. The. Point is is that it's really hard to predict whether your business is good to be big or. Hand, anyway, you don't actually get to you. Know Google, your. Target, its. Size right so all your investors, are talking to create your your. PowerPoint as your total, simple, market and your. Target. Market, size and you Google how many iPhone, jurors, there are like, up with that number and, you know that it's all. BS. And your investor knows it's all BS if you put it inside of our, and you put it inside of an Excel spreadsheet. It has your hockey revenues. Going up and right and, everybody knows not true. We. Can't predict those things beforehand. The. Determines. How big it's going to be so. Your job is to go out there and try to, create. Value, at the marketplace and. Determine. Based. Upon the creating. Whether there's a big market. Market. Evidence is what answers that question, go. Up try to build a business go out try to prove, your business model or, you worry about investment. We. Still operate as if there's a lot of technical risk. But. The risk to our business is market risk, does anybody here, and. Most. Likely people. Don't care. And. That's. The toughest part about building your business it's not the technology, it's. Discovery. What, people care about and what, value. You could be people. Are all for. The meaning of life if, life is where you could create value, for it. The. Size of the company and the wealth and all of that I'm successfully. Reading about you. So, you go big by starting, small. You. Have to hone, in on what is that narrow, it's, like this group, people. That share the same pain. Or, Pat have, similar. Preparations. Can. I create value, for those people, all those people cave. Will. They pay for it in such a way that it I make, more money than us to acquire. Having. More money and more eyeballs, doesn't, have that problem. The. Problem, is solved by going out into the real world and, attempting, to fake value for the people. Eventually. If, you're successful, with your market, segment that you loop on two adjacent segments. And. If you're successful with the adjacent market segment you. People. And. Maybe. You have to modify the product, and you certainly wanna. Buy your marketing, your sales tactics, but that's how you start discovering how.
Big Market, can be and. This. Is this, is true whether you're selling to consumers or. This is. Believe. It or not businesses, businesses. I. Products. Based, upon, values. Dreams. Aspirations in. The same way they consume do I. Because. They're human beings that, are making this so. I, talk a lot about this lean innovation, looking startup that you think. And. So we love to hear how it doesn't work for this model this industry, or this size business. But, the Chihuahua, is lean and so, is the great thing. The, lien innovation, principles, are about reducing waste, in figuring, out whether. You have a real business. So. I come from the startup world who lived, through the dot-com, bust. And through. Idea, when, acquisition. A crushing failure and back. In the day we taught start, act like, big businesses, and so. The way big businesses, typically do this is that senior, person. This. New product and they invest tens of millions of dollars to and, that iron canoeing. People and make all, the sales they're marketing, that but big state, and. Theta. They. Successfully. Build, a product that nobody want. So. That represents a lot of ways, waste. Of time money. And resources, and. Be. Cost creativity. And creation. So. These Lean Startup methods, these lean innovation, method for about seeing, the waste figuring. Out how. Discover. Value, that well. And. How. Can we mark it and how do we sell it's not just about open it, and doing it the way we've always done it it's, just a very smooth, way. So. The three e's of lean innovation. Empathy. Understanding. Our. Customers deeply. This. Does not mean doing, what our customers, think. We're. Not asking our customers what they want we're, not asking your customers to predict their future and, doing what they say. We. Think, why do they saying what he said. What. Other needs, what. Are their paints, what, are their passion, where. They're decide, what. Are their aspirations what. Are they hoping to achieve. What. Impact, will it be on their life or their. Then. It's up to us it's. Up to us as they. Come up with this, week. The, ideas. But. Then we want to apply rigor to the ideas so we're not gonna like, it because. We thought. We're. Not building a faith-based startup. Isn't. It isn't gonna come true just because we believe it is. Now. We're gonna apply rigor to it we're gonna run, purpose-built, experiments. The. Test for the validity of our assumptions, our riskiest, in. A valid, that or be, willing to invalidate. The. Suit that we invalidate, our, riskiest assumption, that as. Soon as we. Can make a change in our business plan in our business model in order to do it run. Steve. Jobs opens, up back. What if. Thomas. Edison changes, tests. Then real. To try to find a better filament. Instead. Of having just one, idea, one. Solution. And, using. Up all of our time and our money that. One idea, the. Success, business is iterate. Just. Loop. Through as many, of those options, possible. To figure out the one that worked based upon evidence. The. Third e evidence. That's. What we're going to stick our start. Harp. And attach our purse to we're, gonna we're gonna rely, on what, the insight, we glean but, they work plus, the data that we get from our experiments, though those are the things that are going to help us decide. The, forward. Empathy. Experiments. Evidence. So. Brands we came out in the real world. Getting. Over. Would. You wrap, up this somehow. Sure. We. Can end we can end there. Yeah, go hat. You. Want me to go ahead. We. Are actually we are actually done, with the time well we would like to thank. You so much for, this presentation. And this speech. We, appreciate, you having here. Unfortunately. The connection, was not so good but. We are, still, very very. Grateful. For you for your time and for being with us today. Okay. Sorry the connection, was not that great possible. Grenade rosamma, edible, Brent Cooper after Kenichi the linen surprised, us now at cropper, as he moves the needle.