How to make a Rock Star Product?

How to make aRock Star Product? Tanguy Lesselin

Start-up failure rates• 1000 business plans• 6 get funded• 40% survive (=2.4)• <1% get big (<0.06)• 0.1% are big hitsIn a million projects, less than 10 become big hitsSource: http://bit.ly/startupfailurerates

is the minimum you are going to spend on product development

GET TOPRODUCT-MARKET FIT FAST

What is a Rock Star product?

EMOTIONS

IT IS DIFFERENT

People WANT it

How to make it?

Perspiration Passion MethodVision Rock Star Product

Traditional method: not good Waterfall Strategy Design Launch Development• Smart strategy• Great design• Great development team• Big launch that generates salesAssumes the problem and the solution are known

Remember?Source: everywhere…

Agile / XP programmingProduct Owner Assumes problem is known and solution unknown Source: Devzombie.com

Customer discovery and AgileProblem and solution supposed to be unknown.Closer to reality and more flexible.Source: Eric Ries and Steve Blank

Product Market Fit stage is critical Before PMF After PMFMeasure, Iterate, Pivot Build the business and scale• Test major hypotheses • Optimize key levers• Quick and Dirty mode • Product scalability• Lowest cash burn • Maintenance • High cost of technical debt

You have to read these books

What are we talking about?Xiaodan Wang - ThoughtWorks Andy Marks - ThoughtWorks• What is a good product? • Quality vs Speed in product• How to get superior design? development• How to find good UX people? Tanguy Lesselin • The 3 biggest traps in Product Development? • Building a UX / feature map • A few personal advice

The 3 biggest traps inproduct development

1 – Working hard on growing one tree +80% checkout conversion +15% repeat orders -30% cost of acquisition

Instead of getting plugged to the Deep Forest

2 – Believing that adding will make it Source: Nerd Watch Museum

KeepItSimpleStupid

3 – Not listening

You areignorantand should act as such

Building aProduct featureUser Experience Map

Get ideas and quantify Ideas Quantify Benefits (*) Quantify costUser story / features Expected Development Actual Benefit time ResultA- I want to pay on a single page +20% 3 +80%B- I want to zoom on product pictures +5% 0.5 +10%C- I want to pay in one-click +30% 1 +15%D- I want to get real time alerts on deals +10% 1 +5%E- Iterate registration page +30% 3 +10%…* Although it may look impossible to quantify, you need to give it a try by asking triangularquestions to your customers, measuring current importance / satisfaction levels, making datachecks on previous similar modifications (inductive reasoning), making guesses

Map your ideas 35%Impact of feature 30% C 25% A 20% 15% 10% D 5% B 0% 0 1 2 3 4 Cost of feature

Implement based on ROI / slope 70% 60% A • Give priority toCumulative benefit 50% D low cost features 40% B for same ROI 30% C • Most 20% often, features 10% should be 0% released in 0 2 4 6 clusters Cumulative cost

Expected returns materialize only if you continuously simplify

The last few words• Define what “Done” means and do not compromise on it• Set-up Scrum from the beginning• Get developers to make demos to your team

Simplify SimplifySimplify

Presentations• Build and motivate your dream team: http://www.slideshare.net/tlesselin/firing-up-your-dream-team• Getting start-up financing in Singapore: http://www.slideshare.net/tlesselin/120524-financing-slideshare• How to make a Rock Star product:

How to make a Rock Star Product?

by tlesselin on Jun 14, 2012

Accessibility

Categories

Upload Details

Usage Rights

2 Embeds 188

Statistics

How to make a Rock Star Product? Presentation Transcript

http://sgentrepreneurs.com	187
http://www.linkedin.com	1