WHY LEAN?

The problem with market research . . .

Emerging technology ventures, whether they are start-ups or new initiatives from established companies, often fail to understand the importance of market research and its role in helping to develop a product or service. More often than not, fundamental business assumptions are taken for granted and never tested until a significant amount of investment has already been made. The further along this path an organisation moves, the harder it is for it to shift and respond to real market needs. Market research is also often viewed by emerging technology ventures as a luxury only large corporations have access to. Yet the value it can add to the potential success of a new venture is significant.

As a commentator on start-ups summarised,

most start-ups fail because they didn’t develop their market, not because they didn’t develop their product
--Steve Blank

This is perhaps symptomatic of the traditional “linear” approach to launching products or services – where a lot of time and resources are devoted to adding all the “bells and whistles” before it is unveiled. In a fast moving innovative environment (where uncertainty is high and resources are rare), such an approach is highly inefficient. Even if the foundation premise of the product or service is eventually proven correct, there will be significant waste accrued in the myriad of features not eventually valued or used by the customer.

While there will always be an aversion to cookie cutter approaches, it is increasingly being recognised by the early stage venture eco-system that many aspects of this learning curve can be systematised, and due diligence should play a greater role throughout the innovation or start-up process. The growth of rapid iterative-based product and project development techniques such as agile project management , lean start-up methodologies and business accelerators are testament to this. The fundamental philosophy behind these methodologies is you should always question your assumptions and do it as often as possible. Such techniques also embed market research (in various forms) into the project, product or business development process, as an exploratory and validation tool.

That's where we come in. To be effective, any market research solution in this area needs to be hypothesis driven, short, sharp and outcomes oriented. Rather than providing solutions that are as close as possible to being definitive, the task is to provide information robust enough for a venture or initiative to make a decision – whether it be moving forward in a particular direction or stopping altogether. In a rapidly changing start-up environment, perfect information is impossible to achieve and informed decision making is the goal.

Lean Market Research addresses this clear need in the market – by providing a tailored market research solution to the emerging technology venture eco-system. We help entrepreneurs, investors and innovative companies work faster and smarter.

Our Story

About us

Lean Market Research is a boutique advisory service that focuses on start-up ventures, the commercialisation industry and new product development initiatives. We specialise in short, sharp hypothesis driven market research.

Our aim is to help you arrive at an informed decision faster and smarter. In a rapidly moving innovative start-up environment, we believe perfect information is impossible to achieve and informed decision making is the ultimate goal. Our task is to help you make that important next decision – whether it be moving forward in a particular direction or stopping altogether.

Lean Market Research solutions are tailored to the emerging technology eco-system. We are however open to working with other industries.

Executive Team

Christopher Tia

Principal

Chris is an experienced entrepreneur and business professional with a multi-disciplined background and a strong track record of success in the private and public sectors. He has a unique blend of skills and knowledge, augmented by formal qualifications in computing, law and business.

Prior to starting Lean Market Research, Chris worked in the commercialisation space advising numerous start-up ventures at ilab, Queensland's leading technology business incubator. Previous to this he held various strategic consulting and management roles, advising global vendors and leading enterprises across the Asia Pacific. This included managing strategic market intelligence projects at IDC, with companies such as Ericsson, Intel, Hewlett Packard, Cisco and Telstra. In the public sector, Chris has similarly provided strategic technology and industry advice to the Australian Government on significant initiatives such as the NBN, ISP Filtering, and Digital TV Switchover.

Chris' qualifications include a Bachelor of Laws (Hons), Bachelor Science (Comp) and a Masters of Commerce. He is also a certified Prince2 project manager.

Our Offering

Helping you along the start-up journey ...

Market Research

The initial phase of any venture typically involves defining a problem, a solution and the potential customer who is willing to pay for it. Often a founder will be connected to the target market in some way, but lacks good visibility across the entire industry.

We can help by providing

+ Primary Market Research (B2C & B2B)
+ Vertical Industry Snapshots
+ Competitive Landscape Analysis
+ Target Market Analysis and Sizing

These can be tailored according to your needs and are typically 1 to 2 pages long.

Go To Market

Our Go To Market services go hand in hand with our market research offerings. We can help you target key decision makers with strategic marketing collateral, including

+ Solution Whitepapers
+ Executive Briefs
+ ROI Calculators
+ Customer Case Studies
+ Product Briefs

These are designed to help you effectively and succinctly communicate the key benefits of your products to the right people.

Business Review

The start-up journey is a juggling act at best. Between putting out fires, satisfying existing customers and finding new ones, it is difficult to take time out to look at the big picture. Sometimes this means you end up missing that great opportunity and heading down the wrong track. Sometimes you might just need a second opinion. We get it ... we've been there.

Our Business Review service is data driven. We undertake a 360 degree review and look at the market, your team, the business model and your capital requirements. We aim to give you meaningful insights, based on a balanced appraisal.

Consulting

We provide customised solutions that encompass the entire start-up, commercialisation and product development life cycle. Our consulting services are provided on a collaborative basis, because we believe our mark of success is best reflected in you.

We are also open to working with strategic partners where there are complementary benefits.

Lean Prototype (MVP) Development

Need something much more hands-on? Our sister company Lean Prototype Machine has streamlined market research, business modeling and online product development to help you build a lean web and mobile prototype (or Minimum Viable Product) in just 4 weeks. To find out more, check them out here.

Latest

Below are the latest thoughts, presentations and projects we have been working on. Feel free to get in touch if you would like to know more.

Everything we know about innovation is wrong; Innovative ideas don't count as much as we think

4 April, 2013 | Posted by: Christopher Tia | Article

Innovative ideas are often used to mark milestones in a company’s history. After the bluster of a product launch and marketing push many companies have difficulty sustaining the initial spark and momentum responsible for the breakthrough. Where will the next big thing come from? Who is responsible for seeing it through? How do we get the idea from point A to point B?
+ See more...

Lean startup techniques: Can they be applied to B2B environments?

7 Jan, 2013 | Posted by: Christopher Tia | Article

Can startups in the Business to Business (B2B) environment apply the Lean Startup approach? What differences are there to the Business to Consumer (B2C) world and how should it be handled?
+ See more...

Mobile Metrics That Matter

Sep, 2012 | Posted by: Christopher Tia | Presentation

Presentation for Mobile Monday Brisbane (mobile community group) exploring the power of lean metrics and how it can help mobile ideas move from start-ups to sustainable businesses. Topics include: what should be measured to ensure you are on the right track; how metrics can help you make critical business decisions; typical engines of growth; real life application perspectives.
+ See more...

eBook Market infographic

Jul, 2012 | Posted by: Christopher Tia | Infographic

A snapshot of the eBook publishing industry in 2012. Covers: devices typically used; the market size and demographics of ebook readers; the Australian print and ebook market landscape; and implications for publishers and authors.
+ See more...

ManStat Brochure

Sep, 2012 | Posted by: Christopher Tia | Marketing Brochure

Development of marketing collateral to articulate ManStat's value proposition, based on the company's target market(s) and desired market positioning.
+ See more...

Taking the Lean Approach

Nov, 2012 | Posted by: Christopher Tia | Presentation

Presentation for participants in the ilab technology startup Germinate program. Explores why startup companies fail and how the lean startup approach can help them to increase their chances of success. Outlines the key principles, practical concepts and potential limitations of the lean startup approach, beyond Internet and software related environments. Please note this is a Prezi presentation (requiring Flash), so you will need to download the Prezi app to view it on Macs/iPads.
+ See more...

Contact Us

Finding us

AUSTRALIA

We are located in Brisbane, Queensland but can work on projects anywhere in Australia or internationally.

Contact details

Tel:+61 414 598 887
SkypeID: christopher.tia
E-mail: info@leanmarketresearch.com

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