Business Startup

ENT301 Lean Business Startup WEEK 1
Introduction to Lean
Business Startup

The first 4 classes will not be live but will be
recorded and posted in Blackboard Collaborate
• Week 1: no live class – access recording in Blackboard Collaborate
• Week 2: no live class – access recording in Blackboard Collaborate
• Week 3: no live class – access recording in Blackboard Collaborate
• Week 4: no live class – access recording in Blackboard Collaborate
Week 5: 27 June, 11:30m AEDT:
our first live class – please attend!

Our Class
• Monday’s at 11:30am AEDT
• Class sessions typically run @ 60-90 minutes, depending on discussion and questions.
• All classes will be recorded and posted along with the class lecture presentation
in Blackboard Announcements after class.
• I will be available before and after each class to answer any questions or to discuss
any issues.
• 1:1 appointments can be arranged by emailing me to set up a time.
• You can also always contact me through Blackboard class messages or:
[email protected]
I am here to support your academic AND professional success.
I am here to help you!!
Please join the session 10 minutes before the scheduled time
• Come early, say hello and test your audio and video connection.
Use Chrome Browser for best results.
• Do not use your mobile phone for these sessions. Always use a desktop or laptop.
• For the comfort of all participants, please ensure you are sitting in a quiet environment and
there is no background noise.
• Please mute your audio during class to eliminate background noise.
Ask questions and discuss topics! Simply raise your hand and switch on your audio and
video to speak.
Video is required if you are speaking.
I encourage lots of chat and questions so we can all stay engaged and learn from each
other.
Online Sessions: Some Tips
Today’s class:
Introductions
My expectations
What is this class about?
Welcome!!
Participant introductions
Write a summary about yourself & introduce yourself to
the class.
Post your introduction & CV in Module 1 – Discussion
ü Name
ü Home city and country
ü Which degree are you studying? Why?
ü What are your goals for the future?
ü Expectations for the class? From yourself?
ü Professional background and experience
ü Life experience: what makes you interesting?

In Full On Time!
Full engagement & participation
No Passengers!!
Active Listening
Ask Questions!!
Academic integrity
Practical applications
Bring your experiences into class
Sense of humor
Skills you need
Carpe Diem!!!
Commitment!!
Intellectual Curiosity
Passion to learn
Communication Skills
Critical thinking
Analytical rigor
Theoretical knowledge
Evidence: Referencing &
Research

Doug’s Expectations
• What is your motivation for pursuing your education?
• It is my hope that you all have enrolled because you have a passion to
learn and to develop yourself as a future leader.
• I hope you all plan to regularly attend class.
Logging into class does not = participating!
• While this class is online and attendance is not manditory, in my experience
if you do not attend, your understanding of the class concepts and grade
will suffer.
• Regular attendance is
YOUR accountability.
Please do not use excuses why your attendance is poor or if you
regularly show up to class late. In the real world this will not be a recipe
for success and you will most likely be fired!!
Dynamic Leadership
Important: Class Attendance!!
• Your participation in class discussions is welcomed and expected.
• We all benefit from each other’s experiences.
• Our class is a great opportunity for you to share your experiences and to practice your
communication skills.
• Excellent communication skills (written, verbal and non-verbal) are critically important
for your future success as a business leader.
Students that do not participate in class typically do not demonstrate a good
understanding of the topics covered.
Students that show high engagement and regularly attend and participate in
class typically receive higher grades.
Dynamic Leadership
Important: Class Participation!!
Experiential learning through exchange
of knowledge is crucial!
We’ll have class interactions, readings,
research and assessments
Participation = Professionalism
Create engaging learning environment
requires your participation!!
Academic Expectations & Integrity
Level 3 Core Subject
Critical Thinking
Ability to formulate own solutions according to
your research (high level of research)
Using your prior learning
Research sources – Library / Google
Scholar / PMI.org
Peer reviewed papers
Publications (in full)
Articles (in full)
Emerging ideas
Referencing (APA)
In text citations
References list
Must be able to find your references
What we expect:
10
Academic Expectations & Integrity
What is unacceptable:
Plagiarism
Copy from internet, book, article, video or presentation
Copying another students work
Simply not acknowledging the source of your research
Copying your own work form a previous assignment
Collusion
Inappropriately assisting other students in the production
of an assessment task
Submitting work which is the same, or substantially the
same, as another student’s piece of work for the same
assessment task
Assisting another student to plagiarise material
Torrens Policy Academic Integrity Policy (and other
policies):
https://www.torrens.edu.au/policies-and-forms
Ghostwriting
Occurs where a person other than the student has authored,
either wholly or in part, a piece of assessment.
Other forms
Fabricated data; inventing references, quotes or sources;
same work for different subjects.
Avoid plagiarism by doing
extensive research and referencing
where you sourced the
information!!
11
You must submit all Assessements FIRST to SafeAssign
• Lean Start-up is a field-tested approach to innovate and to build a new business.
• The Lean Start-up approach is designed to maximise speed to market while
minimising the chances of business failure and increasing chance of success.
• We will explore how to apply lean principles and methodologies such as minimum
viable product, pivoting, actionable metrics, innovation accounting, business model
canvas and lean canvas.
• You will be tasked with developing and testing a new business concept, developing a
business plan, and pulling together a business pitch to potential investors.
What does it mean to you to innovate?
How would you describe a successful entrepreneur?
Lean Startup: What is This Course About?
Lean Startup: What is This Course About?
• There are many theories and techniques to innovate and to start a business.
• BIZ 301: Organisational Creativity and Innovation is a great class to learn
about creativity, innovation and entrepreneurship……
• Can you think of a successful entrepreneur?
• How did she/he come up with their idea?
• How did they scale it and build a successful company?

Lean Startup: What is This Course About?
• How is Lean Start-Up different?
• How can we apply Lean Start Up concepts to think through a new idea and to bring
that idea to life?
Lean Startup = Build-Measure-Learn
Core idea: put the user at the center of your idea: identify, experiment, test,
adapt, scale
• How can we measure user feedback to validate assumptions in our business model?
Lean Startup ideas: Search To Execution….Customer Targeting and
Discovery…..Customer Validation..….Customer Creation……Company Building

The Lean Startup is a scientific
approach to speed new idea
development and create and
manage Startups.
The goal: how to get a desired
product or service in customer’s
hands faster?
Empathizes speed &
adaptability…..competitors are
everywhere……..
Eat or Be Eaten!
15
The Methodology
• Business Model Canvas
• Lean Canvas
• The Big Idea Canvas
• CO.STARTERS Canvas
• Agile Project Methodology
16
Tools to build your business
• Review the history of lean and the lean start-up concept.
• Think through why lean matters to business start-ups.
• Learn lean principles and techniques.
• Apply lean methodology to think of a new business concept.
• Pitch your idea.
What are your learning objectives?
17
Module 1-2 Learning Objectives
18
So You Want To Be An Entrepreneur!?

Number Type & Description Assessment Due Date Weighing
1 Presentation (3-5 minutes) Module 2.1
(Week 3: 19 June)
15 %
2 Business Investment Proposal
(1,000 words)
Module 3.2
(Week 6: 10 July)
30%
3 Market Viability Analysis
(2,000 words)
Module 5.1
(Week 9: 31 July)
40%
4 Pitch (3-5 minutes) Module 6.1
(Week 11: 14 August)
15%

Assessments: hands on learning!
For next class: Read Assessment 1 Brief
19
The Lean Startup
• This short, animated video provides an
overview of why lean start-up methods
matter to new businesses and
entrepreneurs.
• It provides a brief book summary of the
book ‘The Lean Startup’ by Eric Ries.
• Watching this video will provide a brief
overview of the principles and
methodology
Book Video Club. (2016, February 9). “The Lean Startup” by Eric Ries –
BOOK SUMMARY
[Video file]. Retrieved
from
https://www.youtube.com/watch?v=sobxOzRjAGg
20
A history of lean thinking
Scott presents the history of lean thinking
plus how individuals in several countries
deal with the changes in society and
meeting the needs of consumers.
As you watch this video, note down some
key concepts and names of tools
mentioned as these will help you as you
study lean start-up methods
Scott, C. (2018, February 6). A history of lean thinking [Video file].
Retrieved from
https://www.youtube.com/watch?v=LIMcTm8pA5A
Lean History
• Lean manufacturing or lean thinking is not a new concept.
• The idea dates back to Toyota Production System (the Just-in-Time
Production) or times of Henry Ford or more historically to Eli
Whitney’s invention of the concept of interchangeable parts.
• Lean is more than a century old school of thought.

The lean thinking takes its foundation in 1799 when Eli Whitney gets an assignment
from U.S. army to manufacture 10,000 muskets at the low price of $13.40 each. Whitney
exercised his ‘perfection of interchangeable parts’ and kept high focus on quality/process
control to achieve the goal.
The next 100 years were then about ‘individual technologies and large scale processes’.
Frederick W. Taylor introduced Time Study and standardized work. Frank Gilbreth gave
Motion Study and invented Process Charting to
cut non-value added elements. Lillian
Gilbreth focused psychological aspects of motivations of workers and how attitudes
affected the outcome of a process.
“Elimination of waste thinking” actually came into
being when early Industrial Engineers from late1890s showed their work.
22
Lean Early Developments
Then about in 1910 Henry Ford came up with the continuous manufacturing
system of people, machines, tooling and products brought together. Ford idea
was large scale production which is continuous, process and time-effective.
Post second world war was when Japanese Industrialists got inspired from
Ford Lean thinking.
The next was then Toyota Production System of Just-in-Time production
which had the basics from Ford continuous processing model with emphasis
over cutting inventory waste.
23
From Ford to the Toyota Production System
After Toyota Production, there came into being different sub systems or rightly
to be called as by products of Toyota Production.
These were for instance ‘Stockless Production’ and Continuous Flow
Production to give world the world class manufacturing basis.
By the 1980s some American manufacturers such as Kawasaki, General
Electric, and Omark industries emerged with success because of these world
class systems they adopted.
From now on Lean got recognised as a proper school of thought: something to
be adopted not just by manufacturers by anyone who would want to find
success in the effective Lean’s way.
24
After Toyota Production System: the time of World Class Lean
Srategos. (2016). A History of Lean Manufacturing. Retrieved from
http://www.strategosinc.com/just_in_time.htm
Wright, C. (2017). Fundamentals of Assurance for Lean Projects. Chapter 2
25
References
Any Questions or Concerns?
Don’t forget!
I’m here to facilitate your journey, the rest is up to you!
• But, when in need, don’t hesitate to contact me
through Blackboard class
messages or:
[email protected]
• 1:1 appointments can be arranged by emailing me to set up a time.