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Scott Cook Software 2005

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Presentation slides given by Scott Cook at Software 2005 conference. See http://onproductmanagement.net/2009/06/10/scott-cook for more info.

Presentation slides given by Scott Cook at Software 2005 conference. See http://onproductmanagement.net/2009/06/10/scott-cook for more info.

Published in Technology , Business
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Transcript

  • 1. Stories of Invention Scott Cook
  • 2. 2
  • 3. Our Mission Revolutionize Peoples’ Lives Changes so profound customers can’t imagine going back to the old way 3
  • 4. The QuickBooks Story 4
  • 5. Challenges in the QuickBooks Launch  Unknown name  Higher price...2X the market leader  Tiny feature set…less than 1/2 the features  Bad advertising 5
  • 6. Challenges in the QuickBooks Launch  Unknown name  Higher price...2X the market leader  Tiny feature set…less than 1/2 the features  Bad advertising  Bugs  Vanishing data  Tech support hell 7
  • 7. QuickBooks Launch Share of Retail Sales, 1992-93 % DOS Unit Volume 70% Share of Retail Sales 60% QuickBooks 50% 40% 30% Pacioli DacEasy 20% 10% Peachtree Other 0% JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR 8
  • 8. The Essence of the Invention The Customer Problem Our Solution: QuickBooks Most small firms hate The first accounting & can’t do debit/credit software with no debits or accounting credits 99
  • 9. Customer Driven Invention Find an Important Solve Customer Problem It Well that’s Unsolved The Customer Problem Our Solution: QuickBooks Most small firms hate The first accounting & can’t do software with no debits or debit/credit credits accounting 10 10
  • 10. What Drives Success…Our View • High-performing org Employees • Great place to work • Invent better ways to live Customers • Delight so they buy more & tell friends • Big successful businesses Shareholders • Profitable growth 11
  • 11. Customer Driven Invention Find an Important Solve Customer Problem It Well that’s Unsolved 12 12
  • 12. The QB Point of Sale Story Three mindsets had to change That accounting was the area  we should address That POS is complex and custom installed by VARs for $4,000 That Intuit sells software 13
  • 13. Two Versions of QuickBooks Point of Sale Software Only - $799 Hardware + Software - $1499 Credit Card Swipe Receipt Printer Bar Code Scanner Cash Drawer 14
  • 14. Results: Nation’s #1 selling POS system among small retailers 15
  • 15. Two Keys to Customer Driven Innovation  The mindset most in need of  change is likely your own The key to mindset change is to study customers 16
  • 16. The Barrier to Mindset Change “Empathy is not just about walking in another’s shoes...first you must remove your own shoes.” -- Indian proverb 17
  • 17. The Barrier to Mindset Change “Empathy is not just about walking in another’s shoes...first you must remove your own shoes.” -- Indian proverb “Before you criticize someone, you should walk a mile in their shoes. That way, when you criticize them, you’re a mile away and you have their shoes.” -- Unknown 18
  • 18. Victoria’s Secret Situation: Share flat at just over 20% Action: Follow-me-home…to the lingerie drawer Discovery: Missing 5/7ths of usage as sexy underwear isn’t thought comfortable  New offering: Body by Victoria…seamless underwear  Result: Growth rate doubled victoriassecret.com 19
  • 19. The Key to Customer Driven Innovation  The mindset most in need of  change is likely your own The key to mindset change is to study customers 20
  • 20. Visa/MC/AmEx Developers Financial Institutions Mid-Sized Businesses Industry Partners OFX Customers Startup Federal & State Government Accountants 21
  • 21. What’s Driving Customers Now Right For Me… Return To On Demand Is Simplicity Right Out Of In Demand The Box 22 22
  • 22. What’s Driving Customers Now Right For Me… Return To On Demand Is Simplicity Right Out Of In Demand The Box 23 23 23 September 15, 2004
  • 23. 2003 edition 24
  • 24. 25
  • 25. 26
  • 26. 2004 edition 27
  • 27. 28
  • 28. Results  Leaps in customer ratings FYTD 2004 2005 Gain TurboTax Web 69 78 + 9 points First time users 48 71 +23 points  Driving TurboTax volume gains  While leading competitor shrinks 29
  • 29. 30
  • 30. 31
  • 31. After – Three Step Process 32
  • 32. 33
  • 33. Simplicity In Many Businesses 34
  • 34. What’s Driving Customers Now Right For Me… Return To On Demand Is Simplicity Right Out Of In Demand The Box 35 35 35 September 15, 2004
  • 35. Inc’s Fastest Growing Business, 2003 36 36
  • 36. QuickBooks Enterprise Solutions Priced at $3,500 QB Enterprise a fraction of competitors’ cost Revenues Revenue Aug 03 Jan 05 83% Unit Growth Rate FY04 37
  • 37. Visa/MC/AmEx Developers Financial Institutions Mid-Sized Businesses Industry Partners OFX Customers Startup Federal & State Government Accountants 38
  • 38. What’s Driving Customers Now Right For Me… Return To On Demand Is Simplicity Right Out Of In Demand The Box 39 39 39 September 15, 2004
  • 39. Intuit Hosts for 4 Million Customers Revenue Intuit ASP Revenue 0 1999 2000 2001 2002 2003 2004 40
  • 40. What’s Driving Customers Now Right For Me… Return To On Demand Is Simplicity Right Out Of In Demand The Box 41 41
  • 41. The QuickBase Story Hosted Easy Flexible Fast “Database” Team Workflow for for Small Business Corporate Workgroups Technology Out Customer In 42
  • 42. Team Workflow for Corporate Workgroups Workgroups Industries  Project Management  Manufacturing  Banks  Sales and Marketing  High Tech  Healthcare  Customer Support  Telecommunications  Entertainment  Finance and Treasury  Airlines  Retail  Product Development  Real Estate  Builders  Quality Assurance  Aerospace & Defense  Pharmaceuticals  Operations  Beverages  Temporary Services  HR and Training  Transport & Logistics  Apparel 24 of the Fortune 100, including Sprint, Bank of America Top accounts average over 1000 users, and manage over 60 workflows “Tivo and QuickBase… neither has ever let me down!” -- Strategic Planning Lead, Fortune 100 Financial Services Company 43
  • 43. Our Mission Revolutionize Peoples’ Lives Changes so profound customers can’t imagine going back to the old way 44
  • 44. 45
  • 45. Continuing Invention 46 46
  • 46. Changes so profound customers can’t imagine going back to the old way 47 47 September 15, 2004