#DL Summit Workshop: Lean Business Experiments20. September 2023
We all know that we should conduct experiments to build better products faster. But how? In this workshop you will learn how to uncover, prioritize, and experiment with the assumptions in your business model in a lean and affordable way.
About the Workshop
Date & Location: 7th of November 2023, 9 am to 5 pm — STARTPLATZ, Cologne
Trainers: Frederik Vosberg and Timothy Krechel
This workshop is part of our Pre-Conference Workshop Day for Digitale Leute Summit 2023.
Lean Business Experiments are a fundamental component of the Lean Startup methodology, which emphasizes a systematic and iterative approach to developing and testing business ideas. These experiments are designed to help entrepreneurs and product teams validate assumptions, gather data-driven insights, and make informed decisions during the product development process.
Key Characteristics of Lean Business Experiments:
- Hypothesis-Driven: Each experiment begins with a clear hypothesis or assumption that needs validation. This hypothesis is typically related to a critical aspect of the business model, such as customer behavior, market demand, or product features.
- Lean and Agile: Lean Business Experiments are conducted in a lean and agile manner, emphasizing efficiency and speed. They are cost-effective and often involve minimal resources, allowing for rapid experimentation and learning.
- Data-Driven: Experiments are designed to collect data and metrics that can objectively measure the validity of the hypothesis. This data-driven approach ensures that decisions are based on evidence rather than assumptions.
- Iterative: Lean Business Experiments are part of an iterative process. The results of one experiment inform the next steps, leading to continuous refinement of the product or business model.
- Fail-Fast Mindset: Embracing the idea that failure is an opportunity for learning is crucial in lean experimentation. If an experiment disproves a hypothesis, it’s considered a valuable outcome because it helps avoid wasted resources on unviable ideas.
In this workshop, the hosts Frederik and Timothy explain why an experiment-based approach will take you ahead. They will start with how to model the business model behind your product in a lean way and identify and prioritise the underlying assumptions.
In the afternoon, they will give you a repertoire of lightweight experiments to cover almost any use case. In the end, all together will design a very concrete experiment to validate a new business idea.
After the workshop you will know…
… several experiments that you could use to investigate assumptions in a lean, cheap and fast way. To do this, you can identify and prioritize the assumptions in your business model as a team. In short, you know how to develop products truly agilely.
Who should attend
This workshop is for anyone planning new product ideas or features professionally or part-time.
About Frederik Vosberg: Frederik has worked as a software engineer for a small start-up to change the world and get rich through his shares. Unfortunately, this start-up failed the same way many did. The niche wasn’t focused enough, so the MVP was too big to implement with the resources in their hands. Eventually, this drove him to build a business unit that helps corporates to apply start-up techniques.
About Timothy Krechel: Timothy failed to reach product-market fit with his own startup. Having been through this painful experience and seeing others make the same mistakes in different environments (corporates, founders) made him focus on early product validation whenever he launches something new and shares it!
About STARTPLATZ: STARTPLATZ is a startup incubator and accelerator with offices in Cologne and Düsseldorf and functions as a hub for the local startup scene. Founded in 2012 by Dr. Lorenz Gräf and Matthias Gräf, its mission is to provide emerging startups and innovative companies a space for growth, consulting & coaching, workshops & events, and a connection to the extensive ecosystem. Visit www.startplatz.de for more information.
All Pre-Conference Workshops
- „Data Product Masterclass: Scaling the Value of Data, Analytics and AI in the Data Mesh Paradigm“ by Dr Alexander Borek
- „Using Practical Product OKRs for Measuring Strategic Progress“ by Tim Herbig
- „Product Discovery Masterclass“ by Jan Milz and Nikkel Blaase
- „Rapid Prototyping with No-Code“ by Lilith Brockhaus
You do not only want to participate in one of our full-day workshops on Nov 7th but also learn from top-notch international speakers how to build better digital products? Then our Expert Ticket is the right choice for you — It gives you access to one of the Pre-Workshops and our Conference Day on Nov 8th. For detailed information, please click on the button below.