Discovering the Right
Product for your Startup
Abby Fichtner
@HackerChick
Harvard Innovation Lab
startup
your

@HackerChick

@Justin_Wilcox
startup
your
isn’t a

business

@HackerChick

@Justin_Wilcox
startup
your
isn’t a

business
it’s
@HackerChick

a hobby
@Justin_Wilcox
your startup
hobby

business
fun
obsession
cost lots $

@HackerChick

@Justin_Wilcox
your startup
hobby

business

fun
opportunity cost
obsession
$150K salary
cost lots $
@HackerChick

@Justin_Wilcox
your startup
hobby

business
fun
obsession profit $
cost lots $

@HackerChick

@Justin_Wilcox
@HackerChick
What’s your

idea
@HackerChick

?
idea

@HackerChick

Photo Credit: Poe Tatrum
Go!
On Your 3x5 Card:
• Your best startup idea
• Your worst startup idea

@HackerChick
Thinking ‘Bout Your
Startup
• Can I Build It?
• Can I Get People to Know About It?
• Can I Make Money From It?

@HackerChi...
Thinking ‘Bout Your
Startup
• Can I Make Money From It?
• Can I Get People to Know About It?
• Can I Build It?

@HackerChi...
Step 1, 2, 3…
1. Find a problem worth solving
2. Know your customer
3. Find a solution that resonates
4.
@HackerChick

Lau...
@HackerChick
@HackerChick
COOL?
@HackerChick
Step #1
Find a

problem
worth solving

@HackerChick
We had an idea for a new product.
We went off & built it, put it on our website.

@HackerChick
We had an idea for a new product.
We went off & built it, put it on our website.

not a single person clicked thru

@Hacke...
We had an idea for a new product.
We went off & built it, put it on our website.

not a single person clicked thru

What d...
We had an idea for a new product.
We went off & built it, put it on our website.

not a single person clicked thru

Was th...
@HackerChick
@HackerChick
Thinking ‘Bout Your
Startup
• Can I Make Money From It?
• Can I Get People to Know About It?
• Can I Build It?

@HackerChi...
@HackerChick
@HackerChick
@HackerChick
@HackerChick
@HackerChick
@HackerChick
75,000

signups overnight
@HackerChick
$10 MILLION
@HackerChick
69,000
backers

@HackerChick
How do you get

people

to your

@HackerChick

site

?
Step #2
know your

customer

@HackerChick
vision
@HackerChick
VISION

@HackerChick

REALITY
team
market
product
@HackerChick
team

market
product

@HackerChick
@HackerChick
10
@HackerChick

100
Start small
@HackerChick
Start small
@HackerChick
Brainstorm
Customer
anyone who cooks

@HackerChick

Problem
can’t find recipes
Brainstorm
Customer
anyone who cooks

@HackerChick

Problem
can’t find recipes
Brainstorm
Customer
anyone who cooks

Problem
can’t find recipes
need to lose weight

@HackerChick
Brainstorm
Customer

Problem

anyone who cooks

can’t find recipes

dieters?

need to lose weight

@HackerChick
Brainstorm
Customer
anyone who cooks

Problem
can’t find recipes

in college
dieters

^

@HackerChick

need to lose weight
Brainstorm
Customer
anyone who cooks

Problem
can’t find recipes

in college
dieters

need to lose weight

foodies

?

^

...
@HackerChick
Go!
In Your Team:
• What problem are you solving?
• Who are you solving it for?
(who’s your customer)

@HackerChick
Customer
Interviews
@HackerChick

Photo Credit: Zimthiger (Flickr)
@HackerChick
What are the
Top 3 Problems?

@HackerChick
How are they solving those
problems today?

@HackerChick
Go!
In Your Team:
• What’s your customer interview
story?
(persona, problem scenario, what isn’t working)

• What are your...
Thinking ‘Bout Your
Startup
• Can I Make Money From It?
• Can I Get People to Know About It?
• Can I Build It?

@HackerChi...
Step #3
Find a

solution
that resonates

@HackerChick
Concierge Service
(AKA Wizard of Oz)

Boston Startup School - @HackerChick
@HackerChick
@HackerChick
@HackerChick
@HackerChick
Step 1, 2, 3…
1. Find a problem worth solving
2. Know your customer
3. Find a solution that resonates
4.
@HackerChick

Lau...
Product/Market Fit
“In a great market – a market with lots of real
potential customers – the market pulls product
out of t...
Thinking ‘Bout Your
Startup
• Can I Make Money From It?
• Can I Get People to Know About It?
• Can I Build It?

@HackerChi...
Step #4

launch!
when you have a

quantum of utility
@HackerChick

@paulg, Y Combinator
Go!
In Your Team:
• What solution do you think will resonate?
• What’s your initial product
(quantum of utility)?
@HackerC...
Share
• Your worst idea
• Your customer
• The problem you’re solving
• Your initial product
@HackerChick
Thanks!
Abby Fichtner

@HackerChick
http://HackerChick.com
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Discovering the Right Product for your Startup

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How can you make sure that when you DO build it, they WILL come? The truth is, you can't - but there's a lot you can do to greatly improve your odds. In this workshop, which I gave at the Harvard Innovation Lab, I walk you through a framework for identifying the right product to build for the right market.

Includes case studies of what other startups have done and let's you try out techniques yourself to help you craft your own strategy for:
- Finding a problem worth solving
- Deeply understanding your customer
- Finding a solution that resonates
- Knowing what to launch

Published in: Business, Technology
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Discovering the Right Product for your Startup

  1. 1. Discovering the Right Product for your Startup Abby Fichtner @HackerChick Harvard Innovation Lab
  2. 2. startup your @HackerChick @Justin_Wilcox
  3. 3. startup your isn’t a business @HackerChick @Justin_Wilcox
  4. 4. startup your isn’t a business it’s @HackerChick a hobby @Justin_Wilcox
  5. 5. your startup hobby business fun obsession cost lots $ @HackerChick @Justin_Wilcox
  6. 6. your startup hobby business fun opportunity cost obsession $150K salary cost lots $ @HackerChick @Justin_Wilcox
  7. 7. your startup hobby business fun obsession profit $ cost lots $ @HackerChick @Justin_Wilcox
  8. 8. @HackerChick
  9. 9. What’s your idea @HackerChick ?
  10. 10. idea @HackerChick Photo Credit: Poe Tatrum
  11. 11. Go! On Your 3x5 Card: • Your best startup idea • Your worst startup idea @HackerChick
  12. 12. Thinking ‘Bout Your Startup • Can I Build It? • Can I Get People to Know About It? • Can I Make Money From It? @HackerChick
  13. 13. Thinking ‘Bout Your Startup • Can I Make Money From It? • Can I Get People to Know About It? • Can I Build It? @HackerChick
  14. 14. Step 1, 2, 3… 1. Find a problem worth solving 2. Know your customer 3. Find a solution that resonates 4. @HackerChick Launch when you have a quantum of utility
  15. 15. @HackerChick
  16. 16. @HackerChick
  17. 17. COOL? @HackerChick
  18. 18. Step #1 Find a problem worth solving @HackerChick
  19. 19. We had an idea for a new product. We went off & built it, put it on our website. @HackerChick
  20. 20. We had an idea for a new product. We went off & built it, put it on our website. not a single person clicked thru @HackerChick
  21. 21. We had an idea for a new product. We went off & built it, put it on our website. not a single person clicked thru What did we learn from that? @HackerChick
  22. 22. We had an idea for a new product. We went off & built it, put it on our website. not a single person clicked thru Was there a faster way to learn that? @HackerChick
  23. 23. @HackerChick
  24. 24. @HackerChick
  25. 25. Thinking ‘Bout Your Startup • Can I Make Money From It? • Can I Get People to Know About It? • Can I Build It? @HackerChick
  26. 26. @HackerChick
  27. 27. @HackerChick
  28. 28. @HackerChick
  29. 29. @HackerChick
  30. 30. @HackerChick
  31. 31. @HackerChick
  32. 32. 75,000 signups overnight @HackerChick
  33. 33. $10 MILLION @HackerChick
  34. 34. 69,000 backers @HackerChick
  35. 35. How do you get people to your @HackerChick site ?
  36. 36. Step #2 know your customer @HackerChick
  37. 37. vision
  38. 38. @HackerChick
  39. 39. VISION @HackerChick REALITY
  40. 40. team market product @HackerChick
  41. 41. team market product @HackerChick
  42. 42. @HackerChick
  43. 43. 10 @HackerChick 100
  44. 44. Start small @HackerChick
  45. 45. Start small @HackerChick
  46. 46. Brainstorm Customer anyone who cooks @HackerChick Problem can’t find recipes
  47. 47. Brainstorm Customer anyone who cooks @HackerChick Problem can’t find recipes
  48. 48. Brainstorm Customer anyone who cooks Problem can’t find recipes need to lose weight @HackerChick
  49. 49. Brainstorm Customer Problem anyone who cooks can’t find recipes dieters? need to lose weight @HackerChick
  50. 50. Brainstorm Customer anyone who cooks Problem can’t find recipes in college dieters ^ @HackerChick need to lose weight
  51. 51. Brainstorm Customer anyone who cooks Problem can’t find recipes in college dieters need to lose weight foodies ? ^ @HackerChick
  52. 52. @HackerChick
  53. 53. Go! In Your Team: • What problem are you solving? • Who are you solving it for? (who’s your customer) @HackerChick
  54. 54. Customer Interviews @HackerChick Photo Credit: Zimthiger (Flickr)
  55. 55. @HackerChick
  56. 56. What are the Top 3 Problems? @HackerChick
  57. 57. How are they solving those problems today? @HackerChick
  58. 58. Go! In Your Team: • What’s your customer interview story? (persona, problem scenario, what isn’t working) • What are your Top 3 Problems? @HackerChick
  59. 59. Thinking ‘Bout Your Startup • Can I Make Money From It? • Can I Get People to Know About It? • Can I Build It? @HackerChick
  60. 60. Step #3 Find a solution that resonates @HackerChick
  61. 61. Concierge Service (AKA Wizard of Oz) Boston Startup School - @HackerChick @HackerChick @HackerChick
  62. 62. @HackerChick
  63. 63. @HackerChick
  64. 64. Step 1, 2, 3… 1. Find a problem worth solving 2. Know your customer 3. Find a solution that resonates 4. @HackerChick Launch when you have a quantum of utility
  65. 65. Product/Market Fit “In a great market – a market with lots of real potential customers – the market pulls product out of the startup.” - Marc Andreessen @HackerChick
  66. 66. Thinking ‘Bout Your Startup • Can I Make Money From It? • Can I Get People to Know About It? • Can I Build It? @HackerChick
  67. 67. Step #4 launch! when you have a quantum of utility @HackerChick @paulg, Y Combinator
  68. 68. Go! In Your Team: • What solution do you think will resonate? • What’s your initial product (quantum of utility)? @HackerChick
  69. 69. Share • Your worst idea • Your customer • The problem you’re solving • Your initial product @HackerChick
  70. 70. Thanks! Abby Fichtner @HackerChick http://HackerChick.com

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