Learnings from the Lean Startup Machine 2016 in Munich
Hi everyone,
this weekend I took part in the Lean Startup Machine in Munich.
Three days of problem validation, customer interviews, pivots, breakdowns, breakthroughs, going out of your comfort zone, and laughing together with 80 awesome, like-minded people and a whole bunch of coaches and volunteers.
What a ride.
Now that I have digested what happened during the weekend I would like to share some insights I gained during Lean Startup Machine 2016:
1. The Pitch
At the beginning of LSM we were given 50 seconds to pitch an idea that we would like to work on during the weekend. There were about 30 pitches and I was one of them. Damn was I nervous.
Keep It Simple Stupid
50 seconds are short. Very short. Especially in a room full of 80 people and a person showing you paper signs of the remaining time that you have left.
That is why your pitch should be simple:
- State the problem
- State your solution
Shortly explain the problem you (or even better everyone) is having and then propose a solution on how to solve that problem. That’s it. Do not get caught up trying to explain complicated stuff (like I did). If your solution is complex, try to break it down and just tell a simplified version that everyone can quickly grasp. The pitch is about selling your idea, not proposing a detailed battle plan.
Have A Catchy Project Name
Make sure to have a catchy project name and tell it during your pitch. Even a couple of times if necessary. This is important because there are so many pitches and people are very forgetful creatures. Help them remember you by stating your project name loud and clear.
Pitching is Hard
Pitching is hard, there is no doubt about it. But if you keep it simple and short, talk loud and clear, and have a catchy project name that you actually tell people (I forgot…) you’ll be fine.
The Marketplace
Right after the pitches are done the Marketplace starts. This is where everyone gathers in the middle of the room and tries to find a team. If you really want to work on your idea during the weekend then this is probably the most crucial moment for you. Even if you screwed up during your pitch you can still recruit enough members for your team by really selling your idea.
And by selling I mean being loud. Yell if you have to. Imagine you are on a market place in a long forgotten kingdom and are trying to sell apples like your family depended on it. And try not to get caught up in too many complex discussions about your project because again, time is limited.
2. The Project
I decided not to pursue my idea this time and joined another team for the weekend. My advice is this:
Pick People, Not the Idea
You and your team will spend a lot of time together over the weekend and it is important that you get along. Because you will fail, you will get stuck, and you will be frustrated at some point. Then the actual idea moves into the background and teamwork becomes essential to not end up in endless discussions and move forward.
The best example was one team which completely unvalidated their first idea only to rise from the ashes with a new idea to actually win at the end!
Doing Something Wrong is Better Than Doing Nothing
If you and your team get stuck in a downward spiral of discussions and doubts, do something. Just something. Anything really. Even if it is wrong, it is still better than doing nothing and getting upset and frustrated.
Get Out of the Building
The coaches will make you get out of the building and talk to strangers. This will be awkward at first but don’t worry. People are actually quite nice, even if you randomly approach them on the street. Make sure to smile, have your questions prepared and have a team member accompany you to take notes.
We created a paper prototype for our idea and went out on the street to test it. This was my favorite part of the weekend.
3. Talk to Everyone
The Lean Startup Machine is not only a great event to gather enormous amounts of knowledge but also a wonderful place to network and get to know awesome people. Try to talk to everyone and bring lots of business cards!
4. Thank You
This weekend was a rollercoaster ride for me with a lot of ups and downs and I loved it! I pitched in front of 80 people, talked to strangers on the street, got to know many amazing people, and learned so much about the Lean Startup methodology!
At this point I would like to thank the entire Lean Startup Munich team and all of the volunteers who made this event possible. You are amazing and keep doing what you do!
Hope to see you next time!
Tagged #startup.