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Itai Damti
Founder Institute, Hong Kong
13/06/2016
 About Leverate & our story
 VP Producthood (2011-2014)
 Question #1: should you really listen to experienced PM’s?
 Q...
 A world leader in technology for FX brokers
 1 bestselling suite, 14 products
 160 employees in 6 offices
 ~180 clien...
 Years of aggressive scale-up
 A million mistakes (1st time founder)
 Built products: market data, RM, liquidity, CRM, ...
Problem/Solution
fit
Product/Market
fit
Scale up Operate at scale
No money? Poor team?
Poor
product?
Bad timing?
No
customers?
Competition?
Lack of
focus?
Lack of
passion?
Bad location?
No...
- JUSTIN KAN
Complete
Short &
sweet
Portable
Thought
provoking
(Buffer)
NOW RAISE, SCALE AND
TAKE ADVICE FROM
EXPERIENCED PM’S.
1. Listen
2. Problem: fail in love with the problem.Your solution doesn’t matter
3. Revenue streams: charge early
4. Custo...
 Lesson #1: don’t be too serious about advice from experienced PM’s
 Lesson #2: startups fail because their founders (yo...
Twitter: itaidamti
LinkedIn: linkedin.com/in/itaidamti
Blog: www.imaginedorder.com
Product development for startups
Product development for startups
Product development for startups
Product development for startups
Product development for startups
Product development for startups
Product development for startups
Product development for startups
Product development for startups
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Product development for startups

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Presentation given at Founder Institute Hong Kong during the Product Development session.
Main point: product management should not be the priority for early stage startups. My advice for startup founders is stop loving their solution, and fall in love with the problem instead.
Lesson #1: startups shouldn't be too serious about advice from experienced PM's, because their game is different
Lesson #2: startups fail because their founders didn't de-risk fast enough
Lesson #3: as an early stage startup, your product is NOT your code. Your product is a green (de-risked) lean canvas

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Product development for startups

  1. 1. Itai Damti Founder Institute, Hong Kong 13/06/2016
  2. 2.  About Leverate & our story  VP Producthood (2011-2014)  Question #1: should you really listen to experienced PM’s?  Question #2: why do startups die?  Question #3: what is the real product of a startup?
  3. 3.  A world leader in technology for FX brokers  1 bestselling suite, 14 products  160 employees in 6 offices  ~180 clients  100b USD trading volume processed monthly  Post 240k + 6.25m in funding (2008, 2011)
  4. 4.  Years of aggressive scale-up  A million mistakes (1st time founder)  Built products: market data, RM, liquidity, CRM, BI, mobile/web/tablet/desktop, trading back-ends, API’s  Killed products  Had fun with The Kano Model and The Lean Startup  Key challenges: Planning releases & roadmaps, Speccing, UX / UI, Action & coordination around releases, Collecting feedback, Prioritizing, Knowledge sharing, 3rd party management, Syncing teams, Functional vs. nonfunctional requests, Measuring the effect
  5. 5. Problem/Solution fit Product/Market fit Scale up Operate at scale
  6. 6. No money? Poor team? Poor product? Bad timing? No customers? Competition? Lack of focus? Lack of passion? Bad location? Not profitable? Burnout? Legal issues?
  7. 7. - JUSTIN KAN
  8. 8. Complete Short & sweet Portable Thought provoking
  9. 9. (Buffer)
  10. 10. NOW RAISE, SCALE AND TAKE ADVICE FROM EXPERIENCED PM’S.
  11. 11. 1. Listen 2. Problem: fail in love with the problem.Your solution doesn’t matter 3. Revenue streams: charge early 4. Customer segment: relationship with customers is golden 5. You don’t have to build to test (Buffer) 6. Funding is not de-risking 7. But if you have it, are you really aligned with your investors? 8. PR doesn’t matter (TechCrunch or TR)
  12. 12.  Lesson #1: don’t be too serious about advice from experienced PM’s  Lesson #2: startups fail because their founders (you!) didn’t de-risk fast enough  Lesson #3: your product is not your code.Your product is a green lean canvas  Method:  Document your plan A  Identify the riskiest parts  Systematically de-risk  A call to feel the urgency of de-risking + 8 tips
  13. 13. Twitter: itaidamti LinkedIn: linkedin.com/in/itaidamti Blog: www.imaginedorder.com

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