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Ash Maurya talks Scaling Lean at Collective Campus for Future Squared LIVE
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In this very special LIVE episode of the Future Squared podcast (futuresquared.xyz), Steve Glaveski interviews the author of Running Lean, Scaling Lean and creator of the lean canvas, Ash Maurya, before an audience at Collective Campus (collectivecamp.us) in Melbourne, Australia.
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Welcome to Future Squared LIVE
Steve Glaveski introduces the first live episode of the Future Squared podcast at Collective Campus, highlighting the show's growth and notable guests. He sets the stage for an engaging discussion with Ash Maurya, emphasizing the podcast's journey and its rising popularity in the iTunes rankings.
"hey guys welcome welcome to collective campus for our first episode of future squared live can i maybe get a stroll hands who actually listens to the podcast got a few in the audience we've actually g..."
Meet Ash Maurya: Lean Startup Pioneer
Steve introduces Ash Maurya, the founder of Lean Stack and author of 'Running Lean' and 'Scaling Lean.' Ash shares his journey of launching multiple products and applying lean startup techniques, including the creation of the Lean Canvas, a tool widely used by startups and innovators globally.
"fun journey so far interview guys like Steve Blank I'm Jake an app from google ventures we've got hell exhausted welder on this soon interviewed I Pascal ferment from singularity University the other ..."
Balancing Travel and Family Life
Ash discusses his travel routine, balancing work commitments with family life. He explains his strategy of traveling once a month for a week, allowing him to focus on content creation while maintaining a connection with his family, highlighting the importance of work-life balance.
"blogger and his post and advice have been featured in inked magazine forbes and fortune magazine he regularly hosts sold-out workshops he hosted a two-day workshop well he's in the middle of a two-day..."
The Essence of Running Lean
Ash elaborates on the core message of his book 'Running Lean,' emphasizing the importance of understanding the business model over the solution itself. He discusses techniques for engaging with customers to uncover their true needs without directly asking them, referencing Steve Jobs' philosophy on customer insights.
"absolute pleasure to have you on on the show ash um so you've been bouncing back and forth I understand you're in singie a few weeks ago you like to do things a week at a time I understand yes so I i ..."
Scaling Lean: Metrics for Success
Ash introduces his second book, 'Scaling Lean,' which builds on the concepts from 'Running Lean.' He explains the need for innovation metrics that resonate with stakeholders, contrasting them with traditional metrics that often fail to capture the essence of early-stage startups.
"things using a lot of the lean fantastic I would you give him that you run so many workshops across the globe would you say that's kind of an epiphany full majority of people that attend your workshop..."
Understanding Innovation Metrics
Ash discusses the importance of using innovation metrics, such as Dave McClure's 'Pirate Metrics,' to measure startup success. He explains how these metrics differ from traditional financial metrics and how they can provide a clearer picture of a startup's growth potential.
"late sure so both books are very entrepreneurial centric so they're focused on the entrepreneur as being the protagonist and both stories and the first book running lean was really about the entrepren..."
Influencing Corporate Innovation
Ash shares his experiences coaching large organizations on adopting lean methodologies. He highlights the surprising adoption of the Lean Canvas within corporations and discusses how it serves as a practical tool for business modeling, encouraging innovation and strategic thinking.
"referral I find a lot of people look at it from a marketing lend to look at as a marketing funnel but in the book I start to look at it more from as a as a kind of a different representation so it's m..."
Adopting Lean Canvas in Corporates
Maurya shares insights on how he has influenced large organizations to adopt the Lean Canvas. He notes that many companies use the tool off the radar due to privacy concerns, and emphasizes that the Lean Canvas serves as a business modeling tool that is approachable for entrepreneurs and product owners.
"corporate metrics and approaches to innovation I know you've been doing a bit of work coaching corporates in this space so I'm sure there's quite a few people here and those who will listen online who..."
MVP Misconceptions
In this segment, Ash Maurya addresses common misconceptions about Minimum Viable Products (MVPs). He argues that an MVP doesn't have to be cheap and fast but should be cheaper and faster than alternatives. He uses examples like the iPhone and Tesla to illustrate how focusing on solving a core problem is essential for a successful MVP.
"a lot of makers a lot of product owners kind of adopting the lean canvas and using it as a tool even just for release planning but it becomes comes adopted that yeah and that essentially then interest..."
Balancing Metrics in Experiments
Maurya discusses the challenge of determining how much data is enough to validate or invalidate an experiment. He emphasizes the importance of focusing on key metrics like acquisition, activation, and retention, while also being cautious of drowning in excessive data that can lead to confusion.
"what the MVP is about so it's not about in a building an incomplete or a half finished product another big example and from the from from recent would be Tesla so when Tesla was building their first c..."
The Curse of Specialization
Ash Maurya warns against the 'curse of specialization' in organizations, where focusing solely on one metric can lead to negative outcomes. He shares examples of how incentivizing sales teams on closing sales can result in unhappy customers and increased churn, highlighting the need for a holistic approach to metrics.
"like the clarity of the five metrics in the in the in the in the our metrics kind of model we have acted the world is chained we've actually gone from a point where it was hard to measure stuff to whe..."
Experimentation in Large Corporates
In this segment, Maurya provides strategies for large corporations to approach experimentation without risking their brand reputation. He suggests going off-brand for experimental products and emphasizes the importance of co-creating with customers to foster innovation while maintaining brand integrity.
"of something else another like extreme example of this and this actually comes from Eric Reese's previous company i am view they actually did the same thing as they scale they began to design the team..."
Focus Groups vs. Individual Insights
Ash Maurya critiques the effectiveness of focus groups in product testing, arguing that they often lead to groupthink. He advocates for individual interviews to gain deeper insights, suggesting that this approach can yield more valuable feedback than traditional focus group methods.
"lot of sense and I think into it labs are a great model of company that does that I think they have a partnership with a segment of their customers and they released beta products under the into labs ..."
Testing Ideas Without Bias
Maurya highlights the importance of deferring judgment during the idea generation process. He explains how presenting problems without biasing the team with solutions can lead to a wider range of independent ideas, which can then be tested for effectiveness.
"working alone together approach for example if you're in a workshop setting and rather than one person saying I think this is a good idea and everyone ask kind of echoes these thoughts if everyone sil..."
Metrics and Accountability
In this discussion, Ash Maurya stresses the significance of making metrics visible and accessible to all team members. He explains how understanding the impact of their work on overall metrics can foster accountability and drive better results across departments.
"and then go to a poster at put all their post it notes and then you begin to see where the overlaps are then having them do it as a team it again seems I could make more sense to brainstorm and create..."
Experimenting in Regulated Industries
Maurya shares insights on how to effectively experiment within highly regulated industries, such as healthcare and finance. He discusses the need for thorough preparation and understanding of market risks, emphasizing that innovation can still thrive even under strict regulations.
"accessible inaudible so you don't have on marketing sales it was our marketing campaign IM saying was that feature be released yeah so i have a code in the second book too it's a rising tide raises al..."
Learning from Market Risks
In this segment, Ash Maurya illustrates the importance of identifying and addressing market risks before launching products. He shares a case study about a dental product that failed due to a lack of understanding of the market dynamics, highlighting the need for early customer feedback.
"regulate the market so they've got you know a story of how they have continuously deploy code and you have to just take more measures but they got all of that kind of a proof so sometimes it's more wo..."
Finding Flow in Work
Ash Maurya discusses his personal journey to achieving flow in his work amidst the challenges of parenting and entrepreneurship. He shares practical strategies for creating uninterrupted time blocks to enhance productivity and maintain focus on important tasks.
"could use they hadn't probably go the retail route which is lost them a lot of time yeah so again when you and when you start with what's risk is it may not be the regulated industry there are other r..."
The Importance of Time Management
In this concluding segment, Maurya reflects on the significance of time management and the need to prioritize tasks effectively. He emphasizes the value of creating a structured environment that allows for deep work and minimizes distractions, ultimately leading to greater accomplishments.
"into flow i can get in and out of it very quickly and there are a number of work hacks that i began to build one of them was realizing that to be able to do make or time to be able to make her work yo..."
Learning from Steve Jobs
Ash Maurya reflects on the influence of Steve Jobs and expresses a desire to understand his strategic thinking. He contemplates the process of connecting ideas and products, drawing parallels to the lean methodology. This segment underscores the importance of vision and discovery in product development.
"my Gabriel down to the lightning round are you ready ash sure fantastic okay question number one if you could work for any company any stage of the company lifecycle who would it be and what would pro..."
Daily Rituals for Success
Ash Maurya shares his daily rituals that keep him on top of his game. He emphasizes the significance of completing important tasks early in the day and his commitment to unit-tasking. This segment provides valuable insights into how structured routines can lead to greater productivity and success.
"the dots looking back looking I Stanford calligraphy class he Zen Buddhism right dropping in at Xeroxes Research Center and stealing their GUI all that sort of stuff yeah yeah fantastic I'm and the la..."
The Importance of Traction Metrics
In this segment, Ash Maurya discusses the concept of traction metrics and their critical role in measuring business success. He explains how these metrics should reflect the rate of capturing monetizable value, using Airbnb as an example. This insight is vital for entrepreneurs looking to validate their business models.
"to find product market fit for one idea let alone five at the same time right I'm still fantastic well thank you so much ash you've been an amazing guest of course people can find out a little bit mor..."
Measuring Social Impact
Ash Maurya explores the challenges of measuring social impact in enterprises. He emphasizes the need for businesses to quantify their value creation and suggests that social enterprises should focus on driving efficiencies while still achieving their mission. This segment highlights the complexities of balancing profit and social good.
"but with that let's uh open it up to the floor if I didn't take all the alterations the same or the product product that changes people's behavior it's hard to test for so how would you test the denta..."
Navigating Stakeholder Complexity
Ash Maurya discusses the intricacies of managing multiple stakeholders in social causes, emphasizing the importance of mapping out value metrics for each group involved. He highlights the challenge of simplifying complex sales processes by focusing on key decision-makers to streamline the sales journey.
"like a number of stakeholders II you know any of these social causes is the people who have funds on the top right down to the stakeholders where you know the recipients got at the bottom who are yet ..."
Lean Sprints in Corporate Settings
In this segment, Ash Maurya explains how lean sprints differ from traditional agile sprints in corporate environments. He stresses the importance of measuring not just build velocity but also actual user traction, advocating for a focus on learning and adapting through iterative cycles.
"the art of making the sale is how can I go ideally just to a decision maker and sell them on the valley that I'm going to create and them say yes but if they have to bring other people in just how to ..."
The Art of Storytelling in Entrepreneurship
Ash Maurya shares insights on the significance of storytelling in entrepreneurship, drawing from Seth Godin's concept that all marketers are storytellers. He emphasizes tailoring pitches to different audiences, whether investors or buyers, and the importance of highlighting relevant value propositions.
"do pick up do you mean like Sprint's all the time oh yeah break them up until the success objection yeah so it's so it's very much what many corporates are doing already is a lot of the lean sprint id..."
Building Effective Marketplaces
Ash Maurya delves into the challenges of creating two-sided marketplaces, discussing strategies for prioritizing either the buyer or seller side. He illustrates the importance of focusing on early adopters and the necessity of manual matchmaking to establish a successful marketplace.
"nobody signs up your landing page no one's going to download the product either so you get a lot of faster feedback in that process thank you yeah you've got the two-sided marketplace and she said wit..."
Narrowing Focus for Marketplace Success
In this concluding segment, Ash Maurya advises on the importance of narrowing the scope when launching a marketplace. He uses eBay as an example of starting with a specific niche to reduce friction and enhance user experience, emphasizing the need for effective matchmaking between buyers and sellers.
"yeah absolutely and sometimes it's even figuring out you have some market places where it's buyer LED or seller leg and so you may actually prioritize which one to really start with and again there's ..."