This morning marked the unfolding of the third session of CUBO+ ECON generation, aimed at equipping students with the tools and methodologies necessary to venture into technological ideas and solutions addressing Bitcoin needs.
Darvin Otero, Founder & CEO of Tiankii App and CTO at Norttech Labs, took the stage to deliver the third master class for the CUBO+ ECON generation students.
The focal point of the session was «Building Products with Lean Startup.» Otero delved into the inception of Lean Startup, a methodology crafted by Eric Ries in 2011 after his stint with several startups in Silicon Valley.
Otero emphasized the evolution of software approaches and methodologies over time. From waterfall models to scrum, Lean Startup stands out as one of the methodologies widely employed today, focusing on creating value for the customer and developing a product or service that meets their needs.
He highlighted that most startups fail due to two main reasons: adherence to traditional management theories and the «just do it» mindset.
Engaging the students, Otero initiated a discussion on the definition of a startup, eventually revealing Eric Ries’s interpretation: «A Startup is a human institution designed to deliver a new product or service under conditions of extreme uncertainty,» essentially equating startups to experiments.
Rooted in Lean Manufacturing, the methodology aims to eliminate waste and non-value-generating activities, emphasizing customer development to ensure products meet genuine needs.
Otero cautioned against the pitfalls of executing an ineffective plan, asserting that such endeavors ultimately lead to failure by building something of little interest to anyone.
He elucidated the concept of a startup as a search for a scalable and repeatable business model, emphasizing the importance of the «Build Measure Learn» cycle to minimize iteration time.
Transitioning to strategy, Otero introduced the concept of the «Blue Ocean,» inviting students to brainstorm entrepreneurial ideas addressing Bitcoin-related needs. This exercise encouraged students to envision a future where they could offer technological solutions under the BTC philosophy.
Drawing comparisons between competitive landscapes, Otero delineated differences between «red oceans» and «blue oceans,» highlighting the innovative nature of blue ocean strategies compared to the cost-focused, differentiated, and benchmarked approaches of red oceans.
The session concluded with students inspired to navigate the entrepreneurial landscape armed with Lean Startup strategies and a newfound understanding of the potential within the Bitcoin ecosystem.