Read: Read Chapter 7 of “Lean Startup”. This chapter begins the justification and explanation of the importance of measurement. Here are some warmup questions:
The chapter talks a lot about “the engine of growth”. Explain the concept in one paragraph so that someone who is not familiar with Lean Startup could understand it.
What is Lazy Registration? Describe the reason why Grockit implemented it originally, how they tested its effectiveness and what they concluded about Lazy Registration at Grockit.
Thinking about your pilot project, what would an example be of a “vanity” metric and what of an “actionable” metric? In what way is that vanity metric?
Checkin: What 1 or 2 important things from the reading did you not understand? And if you understood it all, then what 1 or 2 important things were most insightful/useful/valuable to you. Please make sure I can tell which is which!
Deliverable: Write a short document with your responses. pdf. latte.
Term Project Brainstorm: Everyone meet with 1 or at most 2 other students. Feel free to post to the Latte class forum if you’re looking for a partner. Spend 2 hours being very creative about thinking up new products. Here are tips about choosing a product: Choosing a project to work on. Each student’s “deliverable” is to write up one new product on the Product Idea List.
Term Project Feedbacks: Review the Product Ideas List. Read or scan all the other ideas. Each student’s “deliverable” is to add a comment to two different projects proposed by others, with new ideas, questions, and +1’s as you feel apprpriate.
Each team tell the class some of your out of the building experiences
You can’t manage what you don’t measure. What gets measured gets managed
Discussion:What is a metric? Examples?
Vanity vs. Actionable metrics
The fact that I have more users today than I did last week doesn’t mean that much
You need to know what you are trying to optimize for
Then you need to figure out what changes improve those variables
Only then can you tell if it’s a good thing that you have more users today!
Discussion:What are some examples of metrics? How could we tel if they are vanity or not?
Useful Metrics are
You can use them to figure out what to do, or what you did, to cause the change.
Need to know what to do to get more of that result
Transparent: Publish metrics to the team
Accessible: Make the definition of what’s being measured clear. No made up words or jargon.
Auditable: Make it easy to see the underlying raw data
But, beware of ‘vanity metrics!’
More users today than yesterday? Not enough.
How do I change it. What changes will affect what metrics?
You can make changes, but will they matter to customers?
Discussion:How do you decide what metrics matter?
Discussion:About possible term projects
Go through all the proposals for a quick critique.
Review lists of products for part two of the course.
See which ones look good. Start thinking about which one you want to be part of!