Strategies for building successful products

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Strategies for building successful products

  1. 1. October 2013 Strategies for building successful products #Tech4Africa @annua
  2. 2. Product Development Launch ConceptConcept Product dev Alpha/Beta Test
  3. 3. Problems... • Where are the customers? • Focus on the first customer ship date • Emphasis on execution instead of learning and discovery “The customer is the most important part of the production line” - Deming
  4. 4. Definition of a Startup “A startup is a human institution designed to create a new product or service under conditions of extreme uncertainty.” Eric Ries
  5. 5. Startup is Not a Smaller Version of a Large Company Improve Invent New Experiment Pivot Learn Search Existing Forecasts + Plan Execution
  6. 6. Run Experiments • A true experiment starts with a scientific method •Begin with a clear hypothesis •Test predictions empirically Goal - Discover how to build a sustainable business ?
  7. 7. Think Big, start small
  8. 8. Build, Measure, Learn loop Measure ProductData Build Ideas Learn Minimize the total time through the loop
  9. 9. Minimum Viable Product (MVP) “The MVP is that version of the product that enables a full turn of the Build-Measure-Learn loop with minimum amount of effort and least amount of development time” - Eric Ries Goal - Test fundamental business hypotheses
  10. 10. Dropbox’s MVP Dropbox’s MVP : A video Beta waiting list jumps from 5000 to 75 000 in one day
  11. 11. So... • Favour experimentation over elaborate plans • Emphasis on speed and nimbleness when moving through Build-Measure-Learn loop • Assemble an MVP and elicit customer feedback
  12. 12. Learn more • The Lean Startup - Eric Ries • The four steps to epiphany - Steve Blank • Thank you to @cynthiaaug

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