The video above is a teaser for the Lean Startup Machine which is coming to Toronto from January 26th to the 29th (click here for more info). What a great way for budding entrepreneurs to start 2012. I like one of the first lines about the event on their registration page which state that “your startup will probably fail” and to that I say no kidding. I did Startup Weekend Toronto last year during Global Entrepreneurship Week (which took place in the same place the Burroughes Building) for the first time and I learned a lot from it how many of those ideas make it past the weekend.
We live in an age where the cost of starting a company whether it be web-based or whatever is lower than ever before and this means that you have a lot of great ideas out there all vying for attention. What it comes down to is the plan, its execution and how you adapt to the changes in the market, the competition and to help you stay unique. The hard part is that creating a product is only step one and the hardest part is getting a user base and providing something they find valuable enough to pay for or use depending on your goal.
Lean Startup Machine is a metric-driven competition. I guess that means that instead of just building the product you need to have some numbers to back up your ideas. This can really help to take your lean canvas to the next level while meeting others who are struggling with the same questions. Here is some of the beats that participants will learn over the course of the weekend (this is right from the eventbrite page):
– Ideate a startup or work on the one you have now
– Practice Customer Discovery
– Research your Target Market
– Practice Customer Development
– Test your Assumptions in Iterations
– Understand your Business Model
– Iterate and Pivot (when necessary)
– Build something you can Launch
– Present your Validated Learnings
– …and more (of course)
It looks like the event will be a great chance to network and create something or share your current product. I am thinking about going but $300 is a bit out of my price range now. Money is tight but the cost may help to self select the audience. I don’t have a lot of time to decide. I really like what I am seeing but the cost is gonna kick me a bit more than I would like. Maybe I can blog about it from the perspective of a non technical person who loves the space.
These events are great and at some point I have to put my money where my mouth is and I wonder if that time is now. I gotta start writing a plan on how to get beta users now and this event may help to clarify some of the issues that can come up from it.
Should I go or shouldn’t I go? That is the question… I want to but I need to balance that out with my costs and that is always a challenge to dance to.