From the book Lean Startup by Eric Ries:

But I’m throwing a party – not a startup. This shouldn’t apply, right? Well, Ries goes on to state:

Using this definition, a party falls within the boundaries of a startup. And since (a) I’ve never thrown an All-Star party, and (b) Orlando hasn’t hosted NBA All-Star Weekend in this current generation, there is TONS OF EXTREME UNCERTAINTY.

Now that I’ve laid the foundation for the application of the Lean Startup methodology, let’s start the fun.

The methodology is rooted in eliminating “waste” from the entrepreneurial journey (it is based off of lean manufacturing) by using the Build-Measure-Learn feedback loop. Basically, “instead of creating these complex plans based on a ton of assumptions, you make constant adjustments” from a simple strategy.  This strategy produces a product, which, hopefully, matches your vision.

I’ll describe how they apply to my case:

Vision: I imagine creating a packed atmosphere with attractive urban young professionals from around the country rocking out to awesome music from the some of the country’s best deejays, enjoying the beautiful Florida weather, socializing with celebs and athletes, and sipping great drinks. All this to start All-Star Weekend.

Product: The Grey Goose Terrace at Terrace 390, a beautiful inside/outside in downtown Orlando. The headlining deejay will be Biz Markie, and a few TBA surprises.

According to Ries, the first step in the Lean Startup methodology is break down this grand vision into its two most important assumptions: the value hypothesis and the growth hypothesis. The value hypothesis tests whether the event really delivers value to guests, and the growth hypothesis tests how new guests will discover the event.

If you haven’t guessed by now, this thing is one big, live science experiment.

My value hypothesis: 1,000 young urban professionals will purchase advance tickets ranging from $30 – $75 for the Grey Goose Terrace hosted/performance by a TBA celebrity on Friday, February 24 at Terrace 390 with music provided by Biz Markie.

Next, I’ll describe some of the experiments used to validate this hypothesis.

Fortunately, you follow the entire trainwreck rollercoaster ride here as I document the application of the Lean Startup strategy to nightlife.

By the way, I’ve announced the first event: The Grey Goose Terrace on Friday 2/24 at Terrace 390. Music will be provided by celeb deejay Biz Markie.

You can get the discount code for $10 off your ticket here.

A few key/interesting things came out of the event:

+ Wives of entrepreneurs put alot of stress on the males (whether they mean it or not)
+ It is extremely difficult for female entrepreneurs to have relationships
+ How entrepreneurs would like to receive support can be explained better by the 5 Love Languages. *IMO, this was the most important thing to come out of the event. And it has to/will be explored in detail later.

My early plan is to have this event once a quarter, and the next topic is, tentatively, slated to focus on failure: both our most horrifying crash-and-burn moments (I’ve got plenty of ammo for this one), and the fear of failure in the black community.

A special thanks goes to Amber Saunders and the staff at Bar One for all of the help, and to Reggie Harrison (@coldfinger) for the photos!

Founder’s Therapy is an intimate group of entrepreneurs discussing problems unique to our personal experience…over drinks of course. Steve Blank relates this personal experience to “The Hero’s Journey.”

:: Except from Steve Blank’s “The Four Steps to the Epiphany” on “The Hero’s Journey” ::

“Joseph Campbell popularized the notion of an archetypal journey that recurs in the mythologies and religions of cultures around the world. From Moses and the burning bush to Luke Skywalker meeting Obi wan Kenobi, the journey always begins with a hero who hears a calling to a quest. At the outset of the voyage, the path is unclear, and the end is not in sight. Each hero meets a unique set of obstacles, yet Campbell’s keen insight was that the outline of these stories was always the same. There were not a thousand different heroes, but one hero with a thousand faces.

The hero’s journey is an apt way to think of startups. All new companies and new products begin with an almost mythological vision–a hope of what could be, with a goal that few others can see. It’s this bright and burning vision that differentiates the entrepreneur from big company CEOs and startups from existing businesses. Founding entrepreneurs are out to prove that their vision and business are real and not some hallucination; to succeed they must abandon the status quo and strike out on what appears to be a new path, often shrouded in uncertainty. Obstacles, hardships and disaster lie ahead, and their journey to success tests more than financial resources. It tests their stamina, agility, and the limits of courage.

Most entrepreneurs feel their journey is unique. Yet what Campbell perceived about the mythological hero’s journey is true of startups as well: however dissimilar the stories may be in detail, their outline is always the same. Most entrepreneurs travel down the startup path without a roadmap and believe that no model or template could apply to their new venture. They are wrong. For the path of a startup is well worn, and well understood. The secret is that no one has written it down.”

—————
Founder’s Therapy was created to show entrepreneurs that they aren’t alone on this journey and [many] others share their pain…over drinks of course.

And oftentimes, unfortunately, those “few others that can see” are family members, friends, and significant others of entrepreneurs, and “obstacles, hardships, disaster” come in the form of their non-support.

We’re kicking off 2012 by sharing stories of non-supportive family, friends, and significant others. And we’ll all feel better afterwards.

+ Founder’s Therapy: Discussing Non-Supportive Family/Friends/Significant Others
+ Tuesday, January 17th, 2012
+ Bar One (687 Memorial Drive Southeast, Atlanta, GA 30316)
+ 7pm – 9pm | No Cover
+ Hosted Amber Saunders (Enrichment Prep)
+ Moderated by Me

RSVP at http://founderstherapy.eventbrite.com

Look forward to seeing some of you on Tuesday.

Will keep you posted as more details roll in.

Be sure to sign up to get notified when DIGITALGUESTLIST’s #ASW2012 Insider Guide launches here.

*Note: Many of you know my thoughts on business plans. If not, this (jump to the 31:00 mark) and this pretty much sum it up.

[The Atlanta Prom]

My friends over at Timeless Entertainment (producers of PlayDate) have created another really cool concept called The Atlanta Prom, and this year it is hosted by Brandi Harvey (daughter of Steve Harvey).

+ Saturday, December 10th, 2011
+ Entertainment by Algebra, Anthony David, Soul For Real, and DJ Tayrock
+ Georgia International Convention Center
+ 7pm – 1am
+ Tickets at www.theatlantaprom.com

[Events From Friends]

+ Insights Marketing presents Women Making Moves Networking & Empowerment Gathering
+ Tuesday, December 6th, 2011
+ 6:30pm – 8:30pm | Justin’s Restaurant
+ Admission is Complimentary | Please RSVP at KW@Insights-MPC.com

I look forward to hearing your plans for 2012