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Fake Doors - How to Test Product Ideas Quickly - Hustlecon 2013
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Fake Doors - How to Test Product Ideas Quickly - Hustlecon 2013

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At Polyvore, we test our product ideas quickly using Fake Doors.

At Polyvore, we test our product ideas quickly using Fake Doors.

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  • 1. FAKE DOOR TESTING How to Test Product Ideas Quickly Jess Lee, CEO & Co-founder, Polyvore
  • 2. Jess Lee HONG KONG / STANFORD CS 2004 / GOOGLE MAPS PM / POLYVORE CEO / DRAWING / BACON / SCI FI & ACTION MOVIES / jessyoko.com @jesskah jess.polyvore.com
  • 3. The Evolution of Shopping INFORMATION SPECS / FACTUAL REVIEWS / PRICE INSPIRATION TASTE / TRENDS / ASPIRATION
  • 4. Mix & match products you love • Shop looks created by tastemakers
  • 5. POLYVORE.COM POLYVORE APP
  • 6. The Great Startup Rollercoaster TIME EFFORT/ANXIETY 1ST HIRE FUNDRAISING FIRST N USERS PRODUCT-MARKET FIT LIKELIHOOD OF HEAVY DRINKING SOURCE: HTTP://BLOG.ELADGIL.COM/2010/09/ARE-YOU-ALCOHOLIC-YET-OR-GREAT-STARTUP.HTML
  • 7. Product-Market Fit Being in a good market with a product that can satisfy that market
  • 8. Market Whose problem are you trying to solve? How many people have this problem?
  • 9. Product What solution will best serve this market? How can I build this solution?
  • 10. Ask friends / family CONVENTIONAL WISDOM Talk to Users
  • 11. Ask Industry Experts / Entrepreneurs / VCs CONVENTIONAL WISDOM Talk to Users
  • 12. THE UNFORTUNATE TRUTH People are bad at predicting what they want
  • 13. People are good at reacting to things that exist THE SAVING GRACE
  • 14. THE ONLY SOLUTION Build & test it quickly
  • 15. HOW TO BUILD & TEST QUICKLY Fake Door Testing
  • 16. Only build the important bits. Fake the rest. Test on real users. HOW TO BUILD & TEST QUICKLY Fake Door Testing
  • 17. EXAMPLE #1 App Notifications
  • 18. EXAMPLE #2 Universal Shopping Cart
  • 19. EXAMPLE #3 App Internationalization
  • 20. EXAMPLE #4 Outfit Sales
  • 21. List key assumptions Identify the biggest unknowns Build the unknowns, fake the rest Measure your success Steps for Fake Doors
  • 22. •  People will buy more items if they get a bigger discount •  We can establish partnerships with retailers for this idea List Key Assumptions IDEA: Shop user-generated outfits and get a sliding discount based on the # of items you buy •  People are interested in shopping outfits •  We can scalably create outfits with products from partners ASSUMPTIONS: •  We can handle payment, fulfillment, shipping, returns
  • 23. Identify Biggest Unknowns •  We can establish partnerships with retailers for this idea •  We can scalably create outfits with products from partners •  People will buy more items if they get a bigger discount •  People are interested in shopping outfits BIGGEST UNKNOWNS: •  We can handle payment, fulfillment, shipping, returns SEEMS LIKE A SOLVABLE PROBLEM:
  • 24. •  We can establish partnerships with retailers for this idea •  We can scalably create outfits with products from partners •  People will buy more items if they get a bigger discount •  People are interested in shopping outfits BIGGEST UNKNOWNS: •  We can handle payment, fulfillment, shipping, returns SEEMS LIKE A SOLVABLE PROBLEM: Build the Unknowns, Fake the Rest Build outfit sale UI Handle shipping ourselves Show it to real users Fake the partners Make the outfits ourselves
  • 25. Build outfit sales UI
  • 26. Show it to users
  • 27. Fake the Partners
  • 28. Make the outfits ourselves
  • 29. Handle shipping, fulfillment, returns ourselves
  • 30. Measure Your Success RESULTS AFTER 3 MONTHS, 63 OUTFITS, $3722.16: •  1.89% conversion rate •  2.93% checkout rate •  2.32 items / order •  21% return rate LESSONS LEARNED •  People will buy more if the discount goes up •  Our checkout flow with Amazon Payments is terrible •  Needs further improvements to be highly profitable
  • 31. Need to be tolerant of failure Define clear metrics & constraints Don’t betray your users’ trust Not a replacement for ideation Tips for Fake Doors
  • 32. Tolerance for Failure
  • 33. Clear Metrics & Constraints
  • 34. Don’t Betray Users’ Trust
  • 35. Not a Replacement for Ideation
  • 36. Thank You!