Stories of Invention



    Scott Cook
2
Our Mission


        Revolutionize Peoples’ Lives




    Changes so profound customers can’t
     imagine going back to ...
The QuickBooks Story




4
Challenges in the QuickBooks Launch



       Unknown name
       Higher price...2X the market leader
       Tiny featu...
Challenges in the QuickBooks Launch



       Unknown name
       Higher price...2X the market leader
       Tiny featu...
QuickBooks Launch
                               Share of Retail Sales, 1992-93
                                % DOS Unit...
The Essence of the Invention




     The Customer Problem      Our Solution: QuickBooks
     Most small firms hate     Th...
Customer Driven Invention


      Find an Important
                                       Solve
      Customer Problem
  ...
What Drives Success…Our View

                 • High-performing org
     Employees   • Great place to work




          ...
Customer Driven Invention


      Find an Important
                             Solve
      Customer Problem
            ...
The QB Point of Sale Story

     Three mindsets had to change

     That accounting was the area
     
      we should a...
Two Versions of QuickBooks
         Point of Sale


     Software Only - $799   Hardware + Software - $1499


            ...
Results: Nation’s #1 selling
     POS system among small
     retailers


15
Two Keys to Customer Driven Innovation



         The mindset most in need of
         
           change is likely you...
The Barrier to Mindset Change


     “Empathy is not just about walking in
       another’s shoes...first you must remove
...
The Barrier to Mindset Change


     “Empathy is not just about walking in
       another’s shoes...first you must remove
...
Victoria’s Secret

     Situation: Share flat at just over 20%
     Action: Follow-me-home…to the lingerie drawer
     ...
The Key to Customer Driven Innovation



         The mindset most in need of
         
           change is likely your...
Visa/MC/AmEx   Developers   Financial Institutions
                                                                 Mid-Si...
What’s Driving Customers Now




                   Right For Me…
      Return To                    On Demand Is
      Si...
What’s Driving Customers Now




                   Right For Me…
      Return To                    On Demand Is
      Si...
2003 edition




24
25
26
2004 edition




27
28
Results

      Leaps in customer ratings
             FYTD           2004   2005   Gain
       TurboTax Web           69 ...
30
31
After – Three Step Process




32
33
Simplicity In Many Businesses




34
What’s Driving Customers Now




                   Right For Me…
      Return To                    On Demand Is
      Si...
Inc’s Fastest Growing Business, 2003




36
 36
QuickBooks Enterprise Solutions

          Priced at $3,500                          QB Enterprise
     a fraction of comp...
Visa/MC/AmEx   Developers   Financial Institutions
                                                                 Mid-Si...
What’s Driving Customers Now




                   Right For Me…
      Return To                    On Demand Is
      Si...
Intuit Hosts for 4 Million Customers
     Revenue




                      Intuit ASP
                      Revenue


   ...
What’s Driving Customers Now




                   Right For Me…
      Return To                    On Demand Is
      Si...
The QuickBase Story




         Hosted              Easy
        Flexible             Fast
       “Database”        Team ...
Team Workflow for Corporate Workgroups

       Workgroups               Industries
        Project Management      Manuf...
Our Mission


         Revolutionize Peoples’ Lives




     Changes so profound customers can’t
      imagine going back ...
45
Continuing Invention




46
 46
Changes so profound customers can’t
      imagine going back to the old way




47
47                                 Sept...
Scott Cook Software 2005
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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.

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Scott Cook Software 2005

  1. 1. Stories of Invention Scott Cook
  2. 2. 2
  3. 3. Our Mission Revolutionize Peoples’ Lives Changes so profound customers can’t imagine going back to the old way 3
  4. 4. The QuickBooks Story 4
  5. 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. 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. 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. 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. 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. 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. 11. Customer Driven Invention Find an Important Solve Customer Problem It Well that’s Unsolved 12 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. 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. 14. Results: Nation’s #1 selling POS system among small retailers 15
  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. 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. 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. 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. 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. 20. Visa/MC/AmEx Developers Financial Institutions Mid-Sized Businesses Industry Partners OFX Customers Startup Federal & State Government Accountants 21
  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. 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. 23. 2003 edition 24
  24. 24. 25
  25. 25. 26
  26. 26. 2004 edition 27
  27. 27. 28
  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. 29. 30
  30. 30. 31
  31. 31. After – Three Step Process 32
  32. 32. 33
  33. 33. Simplicity In Many Businesses 34
  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. 35. Inc’s Fastest Growing Business, 2003 36 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. 37. Visa/MC/AmEx Developers Financial Institutions Mid-Sized Businesses Industry Partners OFX Customers Startup Federal & State Government Accountants 38
  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. 39. Intuit Hosts for 4 Million Customers Revenue Intuit ASP Revenue 0 1999 2000 2001 2002 2003 2004 40
  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. 41. The QuickBase Story Hosted Easy Flexible Fast “Database” Team Workflow for for Small Business Corporate Workgroups Technology Out Customer In 42
  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. 43. Our Mission Revolutionize Peoples’ Lives Changes so profound customers can’t imagine going back to the old way 44
  44. 44. 45
  45. 45. Continuing Invention 46 46
  46. 46. Changes so profound customers can’t imagine going back to the old way 47 47 September 15, 2004
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