Startup Founders Get Lean in Sydney

The past few months, I've had the pleasure of planning, organizing, and launching the second Lean Startup Machine Workshop in Sydney, Australia! The 3-day workshop was held 19-21 April at Fishburners, a local co-working and tech start-up space.

Now that I've recovered from my jet lag, I thought I'd share an inside perspective on what it can take to truly test your start-up or business idea BEFORE writing a line of code, or buying any inventory, or hiring your first person, or ... you get the idea. Here's a sample of what went down ... down under!

The Stats

• 56 entrepreneurs
• 20 mentors
• 10 ideas
• 5 speakers
• 5 judges 
• 2 winning teams who benefited from over $2,500 in prizes

The Story

We started on Friday evening with the high energy of ideas being pitched and teams being formed -- 20 app, product, and service ideas were culled down to 10 teams based on group voting. 

Natasha, Pascale & Coach Colette

Lessons from launching successful start-ups were shared in our Fireside Chat by Sydney entrepreneurs Pascale Helyar-Moray (founder StyleRocks) and Natasha Rawlings (co-founder StreetHawk App & Springboard Australia member).

Teams spent the remainder of Friday night beginning to define their problem and customer hypotheses, and initial customer assumptions using the Validation Board.

By Saturday morning, 10 teams had become 9 as one team of three people disbanded because a team member decided not to return to the workshop. Just like in the real world, when you think you've got everyone on board, someone jumps overboard; and then you have to either reiterate, pivot, or (in this case) abandon ship.

We encouraged teams to spend the majority of Saturday 'getting out of the building' to have real conversations with real potential customers. Teams begin to learn that their ideas are essentially useless until they're validated (or invalidated) by customers who are actually living/dealing with the problem. 

My 'Saturday-tough-love' coaching to any team who was resisting going out and yet still struggling to find "the 'right' answer" was: "You're not going to find it in here standing in front of the board, talking to yourselves. Get out there and ask some more people some more questions!"

Sebastien Eckserley-Maslin on Customer Dvpt

Hamish Barney on MVPs

Shihab Hamid on Landing Pages

Lean Sydney 2013 Mentors

In addition to hands-on coaching from me and our 20 mentors, teams heard relevant presentations on customer development, building MVPs, and launching landing pages to solidify their understanding of Lean methodology.

The Breakthrough

On Saturday night, the energy was much lower as many teams seemed frustrated by the feedback they were receiving from target customers. Perhaps their perceived problem wasn't really a problem at all, or maybe it wasn't an urgent problem that their proposed customers cared enough about to solve. These are not uncommon experiences for an entrepreneur -- it just doesn't often happen in a 24-hour period!

How an entrepreneur responds to this feedback is crucial: do you continue to hold onto your idea (e.g., it's such a great idea, and did I tell you how I came up with it) or do you listen to your customers? We witnessed this struggle through Sunday morning, until some of the teams had the breakthrough as described below:

".. we stopped trying to change the customer to fit [our] solution (wasting time), and started ACTUALLY looking for [their] pain points." 

The Finale
On Sunday, it was all about making last iterations and pivots; and collecting data from online MVPs and landing pages to find out how much validation (e.g., signups, pledges, and/or letters of intent) each team had gained.

We told the teams how they could win Lean Sydney 2013 -- by sharing their findings in a short, yet compelling presentation that demonstrated how they apply the methodology and validated (or invalidated) their key assumptions.

Tom Frazier on Pitching Tips

Our Lean Sydney 2013 judging panel included renowned Sydney entrepreneurs Jodie Fox (founder Shoes of Prey) and Matt Barrie (founder Freelancer.com), and Lean Sydney 2012 founder James Nathan (Food Orbit).

And, the winners were .... @pixcapp (helping online retailers create better images) and GoTix (helping business travelers find last-minute tickets to shows and sporting events). The grand prize included a cloud hosting package from Ninefold, marketing plan consultation, and free desk space at The Hive (co-working space at Pollenizer).

To practice what I'm preaching, here's feedback from one of the attendees to validate the value of the Lean Startup Machine workshop experience:

"It teaches you really good techniques for validating business ideas, so you can see if you have a valid business before wasting lots of money on it building a solution."

I thoroughly enjoyed my time in Sydney -- getting to know the start-up ecosystem there, and seeing a bit of the city. I'll share more about my personal adventures in Oz soon!

NEW Podcast: Make Your Brand POP in the New Normal

If you're an entrepreneur or "side hustler" in today's New Normal, you know it can be challenging to reach new clients and customers -- to make your message stand out from the constant information overload! Since you're reading this post, you're in luck because I've found a savvy, fashion-forward expert to share tips in a new podcast about how to make your brand POP in today's New Normal!

Meet Melissa Gonzalez, CEO of Lion'esque Media, an entrepreneur who truly grasps the concepts of networking and business. A former Wall Street executive, Melissa has become a force in the fashion world by helping up-and-coming designers to make their brands POP in today's New Normal.

Melissa uncovers emerging artists and designers and helps to grow their brands through media blitz coverage, video interviews, and hosted shopping events. Recognizing the challenge faced by her clients to gain exposure and visibility, she made a bold move -- she approached the Roger Smith Hotel to collaborate and showcase their wares at a storefront on Lexington Avenue between 47th and 48th Street in New York City. Can you say prime real estate??

In our podcast, Melissa shares her "lessons learned," including specific techniques on how you can find the right partners and champions to help make your brand POP -- based on your goals and target audience, and how you can creatively use social media in your business (or self-) marketing campaigns.

Her joint venture, the RS POP Shop, is a unique opportunity for artists and designers to connect online with customers [through the social media infrastructure of Twitter, online PR and blogs] and in-person with curious passersby along Lexington Avenue. Since inception, clients have included Animated Closet, Jensen Martin, LaQuan Smith, Lolli Poppit, Simon Carter London; many of whose designs have dressed a wide array of celebrities and have since collaborated with major brands like American Apparel and Club Monaco.

Designers also benefit from a sponsored, live broadcast opening night event and customized branding videos, like this one created for this month's RS POP Shop designer Patricia Brown for her jewelry collection. All proof that emerging doesn't have to mean invisible!

Listen to the podcast for more ideas to create a buzz about your brand and let us know what you think. What creative strategies have you used to make you or your brand POP in the New Normal? Comment here or tweet me your responses and ideas to @Coach_Colette.

How Can You Recession-Proof Your Career?

Are we in a recession? I don't know -- I'm no economist. Many of you know I am a CNBC-junkie. And, there have been many guest experts debating this issue on air. What I do know is that we should be taking stock of how the "R-word" might impact our careers (and businesses, for my fellow entrepreneurs) in 2008 and beyond.

It seems to me that now would be a fine time to focus on the Know Your Market (KYM) principles of the Competent Advantage TM model. Why?

Staying on top of key trends and job forecasts in your industry will help you navigate your career if you want to make a change (or if a change becomes necessary as the market forces impact your current employer).

Do you know where are the growth opportunities within your industry? Are there pockets where companies make money regardless of a downturn in the economy? There has been some research on Careers with "Staying Power" -- there are likely suspects such as Healthcare and Internet-Based Services. Would you know how to leverage your skills and talents in these areas?

KYM also suggests that you understand how your current employer functions so that you can best prepare for internal shifts and adjustments. What do I mean? Do you know what your company does -- really? Do you understand how it makes money?

Sure, this would all be easier if you had a crystal ball and could see what lies ahead. I was asked at a recent seminar, "What should I do if I know my company plans to outsource aspects of my function?" While I would not want to underestimate the fear and other emotions that come with this realization, I would like to suggest that knowledge is power. The more you learn about your industry (e.g., growth opportunities) and your company (e.g., aspects that will be kept in-house) the better you can position yourself for the pending changes.

And, can you articulate how your strengths and contributions add value? I'll talk soon about how Creating a Buzz can be another recession-proof career strategy.

Top 10 HOT Jobs for '07

It's 2-for-1 Friday! Actually since it's so COLD outside (brrrr!), I thought you might be staying in during lunch and looking for more interesting career info.

Fast Company has posted its take on the Top 10 HOT Jobs for 2007. Since one of the key components of the Competent Advantage TM program is Know Your Market, I thought it would be useful to share this with you. Two jobs that were of particular interest to me were:

1. Viral Marketers
2. Bloggers

They both have a similar underlying premise -- the ability to gain people's attention and convince them that they should listen to what you have to say. These jobs may make us all look differently at those who excel at spreading gossip around the office! :) Seriously, as you look back on your career (or even your personal life), have you been good at creating a buzz? Perhaps one of these jobs might be right for you. In any event, you may want to check out the linked article on using blogs to launch your career.

Fast Company suggests that "it takes a creative soul with an endless amount of determination and innovation to thrive in these [hot] fields." Review the list, and take time to envision your ideal career situation in terms of the role/position, environment and work/life balance. You might get lucky and find out that your Competent Advantage TM lies in one of these new growth areas!

Do You Have a Career Portfolio?

No, I'm not talking about the newest collection from Coach or Tumi! Artists, photographers, architects, designers and writers have used portfolios for decades to showcase their abilities and talents. In today’s competitive job market, portfolios have become a useful tool for professionals outside the artistic arena.

The ability to effectively showcase your relevant knowledge and skills is critical, whether you are seeking a new opportunity or staying with your current employer. Along with a tailored resume, a career portfolio can provide further evidence of your professional qualifications and abilities.

What is a portfolio?
A portfolio is a personal collection of information describing and documenting [your] achievements and learning. As a visual representation of your skills, capabilities and knowledge, it shows your potential to add value to an organization.

Why create a Career Portfolio?
You can use a career portfolio to:

• market your capabilities in a job interview
• support a request to your manager for a promotion or raise
• document the quality and quantity of your professional development
• demonstrate prior work or learning experiences for educational credit

Career portfolios have become a nearly universal requirement for the hiring process. But, if you already have a secure job (i.e., one that's not on the Endangered Careers List), you can view a career portfolio as your insurance against unforeseen shake-ups at your company. Keeping this self-promotion tool up-to-date also can be a good exercise in self-evaluation.

In upcoming posts, we’ll help you to organize your career portfolio and use it as a tool in your career development and advancement.

Tips for Your Job Search