Creating New Products- Silicon Valley Product Management Association (SVPMA)

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This is an excerpt from www.alexandercowan.com/speaking . For tutorials and templates on how to do all this, you can try www.alexandercowan.com/resources.

The SVPMA provides a great set of services for one of the industry’s most demanding and least understood professions. I particularly enjoyed the informal time I had with the members before and after the event. The talk was titled ‘Creating New Products – Case Study on Application of Proven Principles’.

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Creating New Products- Silicon Valley Product Management Association (SVPMA)

  1. 1. Copyright 2012 Cowan PublishingSilicon ValleyProductManagementAssociationCreating NewProducts
  2. 2. Copyright 2012 Cowan Publishing
  3. 3. Copyright 2012 Cowan Publishing
  4. 4. Copyright 2012 Cowan PublishingDesign ThinkingLean StartupCustomer Dev.Agile} BIG VOID{ Actual Practice
  5. 5. Copyright 2012 Cowan Publishingto learnmore aboutlaunchingnew ideasKNOWLEDGEof softwaredevelopmentnot assumedACTIONto work onnew ideasDESIREALEX COWANAlexanderCowan.com@cowanSF
  6. 6. Copyright 2012 Cowan PublishingIDEATIONPLANNINGORGANIZATIONDEVELOPMENT
  7. 7. Copyright 2012 Cowan PublishingIDEATIONSelf-LoveAnd ThenSurvivalBack ThenALEX COWANAlexanderCowan.com@cowanSF
  8. 8. Copyright 2012 Cowan PublishingIDEATIONALEX COWANAlexanderCowan.com@cowanSF
  9. 9. Copyright 2012 Cowan PublishingIDEATIONSelf-LoveAnd ThenDesignThinkingAnd NowSurvivalBack Then
  10. 10. Copyright 2012 Cowan PublishingEmpathyDESIGN THINKING- WHAT ISCreativity
  11. 11. Copyright 2012 Cowan PublishingIDEATIONPersonasProblemScenarios?ALEX COWANAlexanderCowan.com@cowanSF
  12. 12. Copyright 2012 Cowan Publishing•Women•Age 28-45•Have kids•Socialize with other mom’s•Online with Facebook•86% said they’d like to bemore organized•70% said they’d use anapplication that organizes themIDEATION
  13. 13. Copyright 2012 Cowan PublishingIDEATIONALEX COWANAlexanderCowan.com@cowanSF
  14. 14. Copyright 2012 Cowan PublishingMary is a mom by choice. She had a successfulcareer in accounting, but welcomed the opportunity tobe a stay at home mom. She loves it. But it’s not likehaving kids purged her creative, social instincts. Shewants to connect, she wants to learn, she wants tointeract. Being a mom is a job and she wants to do itwell. That means corresponding with other mom’s onrelevant topics and keeping the family calendar inship shape. She posts to Facebook at least twice aweek and responds to other moms’ items more oftenthan that.For household stuff, Costco is the go-to place, butshe’ll pick up fresh items at the farmer’s market whenit’s up and splurge at Whole Foods when they’rehaving company.Mary the MomIDEATION
  15. 15. Copyright 2012 Cowan PublishingIDEATION
  16. 16. Copyright 2012 Cowan PublishingIDEATIONPersonasUserStoriesProblemScenarios?
  17. 17. Copyright 2012 Cowan PublishingDraftingStoriesPERSONASSTORIESEpic StoriesStoriesTest Cases“As a [persona],I want to [do something]so that I can [derive a benefit]”IDEATIONALEX COWANAlexanderCowan.com@cowanSF
  18. 18. Copyright 2012 Cowan PublishingBorrowedwithutmostregardfromBanksy(banksy.co.uk)IDEATION
  19. 19. Copyright 2012 Cowan PublishingPLANNING!5,000,000%0%5,000,000%10,000,000%15,000,000%20,000,000%25,000,000%30,000,000%35,000,000%40,000,000%45,000,000%2012% 2013% 2014% 2015% 2016% 2017% 2018% 2019% 2020%Revenue%Expense%EBITDA%Five YearPlanThenIterativeManagementNow6.a PIVOTexperimentsdisprovehypothesis01 IDEA!02 HYPOTHESIS03 EXPERIMENTAL DESIGN04 EXPERIMENTATION05 PIVOT OR PERSEVERE?6.b PERSEVEREexperiments provehypothesisALEX COWANAlexanderCowan.com@cowanSF
  20. 20. !5,000,000%0%5,000,000%10,000,000%15,000,000%20,000,000%25,000,000%30,000,000%35,000,000%40,000,000%45,000,000%2012% 2013% 2014% 2015% 2016% 2017% 2018% 2019% 2020%Revenue%Expense%EBITDA%Copyright 2012 Cowan PublishingPLANNINGALEX COWANAlexanderCowan.com@cowanSF
  21. 21. Copyright 2012 Cowan PublishingPLANNINGPLANNINGDo I have real evidence from my buyer thatthis is compelling?6.a YESresultsdisprovehypothesis01 IDEA!02 HYPOTHESIS03 EXPERIMENTAL DESIGN04 EXPERIMENTATION05 REVISE?6.b NOwe appear tohave a validhypothesisWhat are the key assumptionsrequired to make this business work?6.a YESresultsdisprovehypothesis01 IDEA!02 HYPOTHESIS03 EXPERIMENTAL DESIGN04 EXPERIMENTATION05 REVISE?6.b NOwe appear tohave a validhypothesisHow do I definitely prove or disprovethe assumptions with a minimum oftime and effort?6.a YESresultsdisprovehypothesis01 IDEA!02 HYPOTHESIS03 EXPERIMENTAL DESIGN04 EXPERIMENTATION05 REVISE?6.b NOwe appear tohave a validhypothesis6.a YESresultsdisprovehypothesis01 IDEA!02 HYPOTHESIS03 EXPERIMENTAL DESIGN04 EXPERIMENTATION05 REVISE?6.b NOwe appear tohave a validhypothesisAm I reacting or am I focused onvalidating my pivotal assumptions?‘Pivot or persevere?’ALEX COWANAlexanderCowan.com@cowanSF
  22. 22. Copyright 2012 Cowan PublishingPriority Key Assumption Needs Proving? Experimentation1[A key assumption aboutthe business][Whether it needsproving[Experiment toprove or disprove]1Parents want to betterorganize the distributionof allowancesYes* Post the proposition in adsonline* Measure sign-up’s on a landingpage2Parents have smartphonesNo n/aPLANNINGALEX COWANAlexanderCowan.com@cowanSF
  23. 23. Copyright 2012 Cowan PublishingPLANNING
  24. 24. Copyright 2012 Cowan Publishing$PLANNINGALEX COWANAlexanderCowan.com@cowanSF
  25. 25. Copyright 2012 Cowan PublishingORGANIZATION==ApingThenCustomerDevelopmentNowALEX COWANAlexanderCowan.com@cowanSF
  26. 26. Copyright 2012 Cowan Publishing≠ORGANIZATIONALEX COWANAlexanderCowan.com@cowanSF
  27. 27. Copyright 2012 Cowan PublishingORGANIZATIONALEX COWANAlexanderCowan.com@cowanSF
  28. 28. Specialties(VARIOUS)DESIGNUNIXSYSADMINRUBYPYTONJAVAPHP.........SEOANALYTICS...(VARIOUS)MGMT....Copyright 2012 Cowan PublishingBasicTechnicalLiteracySOFTWAREFUNDAMENTALSModel-View-ControllerARCHITECTUREFUNDAMENTALSApp. & Platform IntegrationROLES & SYSTEMSIn a Technical TeamStoriesPersonasDevelopment DiscussionFoundationConceptsITERATIVEMANAGEMENTDESIGNTHINKINGCUSTOMERDEVELOPMENTAGILECollaboration AGILEAs Product OwnerORGANIZATIONALEX COWANAlexanderCowan.com@cowanSF
  29. 29. Big CompanyRecipes AppliedCopyright 2012 Cowan Publishing5 Year Plan ==10x Returns!X: < Odds at LottoVC-EncouragedMenagerieX: Too muchtoo soonX: Lack of Experiencein Hands-on DiscoveryX: Better Luck withthe LotteryTime to Face the MusicX: New Theories toExplain Plan v. ActualX: Fun and Profit-UnlikelyORGANIZATION++New Idea!Expanded TeamRevisions to Plan== Edgy BoardX: Want Lots ofCapital at WorkIt Works! Working 5 Year PlanNew HiresFounders Investors BoardALEX COWANAlexanderCowan.com@cowanSF
  30. 30. Investors?Advisors?Focus on ValidatedLearningCopyright 2012 Cowan PublishingKey AssumptionsID’ed, ValidatedLower Risk &Capital RequirementResourcesAs NeededClear Focus inHiring & ContractingRoles and SuccessCriteria ClearProgress is Quickand MeasurableTime to Facethe MusicValidated LearningAnswers SharedQuestionsFun & ProfitORGANIZATION++New Idea!Full Tilt at a ‘Pivot orPersevere’ MomentIs approachworking or not?Option forNon-TraditionalFunding StrategiesExpanded TeamNew HiresFounders Investors BoardALEX COWANAlexanderCowan.com@cowanSF
  31. 31. Copyright 2012 Cowan PublishingDEVELOPMENTWaterfallThenAgileNowALEX COWANAlexanderCowan.com@cowanSF
  32. 32. Copyright 2012 Cowan PublishingIndividualsInteractions>ProcessesToolsWorkingsoftwareComprehensiveDocumentation>CustomercollaborationContractnegotiation>Respondingto changeFollowinga plan>DEVELOPMENTALEX COWANAlexanderCowan.com@cowanSF
  33. 33. Copyright 2012 Cowan PublishingDEVELOPMENTvalidate featurerelevance withcustomersPastcollaborate withdevelopmentteamPresentobserve andenvision what’snextFuture
  34. 34. Copyright 2012 Cowan Publishingdirectionpersonasuser storieshypothesis (assumptions)experimental designroles & teamobjectivesworking productDESIGNTHINKINGITERATIVEMGMT.CUSTOMERDEV.AGILEALEX COWANAlexanderCowan.com@cowanSF
  35. 35. Copyright 2012 Cowan PublishingIDENTIFY ABEACHHEADAnd storm it.FOCUSSHOW DON’TSELLBuild something worthseeing.SHOWDON’T ASKPERMISSIONJust do it.GOBROADCASTLeverage your work on aneveryday basis. Make sureeveryone knows where to find it.BROADCASTWAGING EVOLUTION: 6 TIPS FOR PM’SMAKE YOURSELFAWESOMEAnd everything else will fallinto place.AWESOMENESSMAKE YOURSELFAGILEStructure and organize yourwork on the principals.YOUR AGILE
  36. 36. Copyright 2012 Cowan Publishing‘MUCH ADO ABOUT SOMETHING’Introduction to four of the leading ideasin high tech product development.‘IT WORKS WHEN YOU DO IT’A practical overview of how to learnand apply today’s best practices.‘LET’S DO IT’Templates and exercises.202020MINMINMIN
  37. 37. Copyright 2012 Cowan PublishingTHE STORYIn 2007.I left cloudtelephonyprovider,BroadSoft. . .
  38. 38. Copyright 2012 Cowan PublishingTHE STORY. . . to pursuenew ideasabout thedelivery ofcloudservices.NETWORKApplication ServersHost InfrastructureData TransportCustomer EquipmentCRMOrder ManagementService DeliveryBillingCase Mgmt.InventoryWorkflowITPortalsCONSULTINGServiceDesignProcessDesignCustomization& Integration
  39. 39. Copyright 2012 Cowan PublishingIDEATIONALEX COWANAlexanderCowan.com@cowanSF
  40. 40. Copyright 2012 Cowan PublishingIDEATIONOperators will want tosee what servicestheir users are usingso they can tune theiroffer and interfaces. ALEX COWANAlexanderCowan.com@cowanSF
  41. 41. TOOL SETS AND FEASIBLEARCHITECTURE AVAILABLECopyright 2012 Cowan PublishingIDEATIONGOOD PLATFORMSAVAILABLE &LEONID’S LEARNING’SLIGHTWEIGHTARCHITECTURESAVAILABLELACK OF PORTALCUSTOMIZATION TOOLS& ADD-ON WIDGETSPROVISIONING LABORINTENSIVE & LEGACYSLOW TO ADAPTAN IT OVERHAULREQUIRES RADICALMODERNIZATION
  42. 42. Copyright 2012 Cowan PublishingIDEATIONALEX COWANAlexanderCowan.com@cowanSF
  43. 43. Copyright 2012 Cowan PublishingUSER STORIES“As a receptionist, I want to receive an outof the box set up that’s created againstbest practices so I don’t have to set it allup by myself.”“As a receptionist, I want to change thebuttons on my phone so they do what Iwant.”PROBLEM SCENARIO‘I want a good out-of-the-box experience.And to change the display on my phone.’PERSONARhonda the ReceptionistIDEATIONALEX COWANAlexanderCowan.com@cowanSF
  44. 44. Copyright 2012 Cowan PublishingSTORY TEST CASE“As a receptionist, I want to receive an out of the box phoneset up that’s created against best practices so I don’t haveto set it all up by myself.”Make sure the available templates areeditable in a visual environment usable bya Product Manager“As a receptionist, I want to receive an out of the box phoneset up that’s created against best practices so I don’t haveto set it all up by myself.”Make sure it’s possible to update thetemplate at install time“As a receptionist, I want to receive an out of the box phoneset up that’s created against best practices so I don’t haveto set it all up by myself.”Make sure the template designation isavailable in all Loki provisioning interfaces“As a receptionist, I want to change the buttons on myphone so they do what I want.”Make sure it’s possible for the user to resetto the default template“As a receptionist, I want to change the buttons on myphone so they do what I want.”Make sure the available functions arefiltered by the services assigned to the user“As a receptionist, I want to change the buttons on myphone so they do what I want.”Make sure available functions are filteredbased on the capabilities of the phone key“As a receptionist, I want a custom configuration on my phone so that I can manage calls in the way I’vecome to expect.”EPIC STORYIDEATION
  45. 45. Copyright 2012 Cowan PublishingIDEATIONALEX COWANAlexanderCowan.com@cowanSF
  46. 46. Copyright 2012 Cowan PublishingIDEATIONInflectionPointsNew data structures on host platform(BroadWorks)Validated sucess in process design.Maturation of off-the-shelf platforms(SugarCRM, Salesforce.com)ALEX COWANAlexanderCowan.com@cowanSF
  47. 47. Copyright 2012 Cowan PublishingPLANNINGALEX COWANAlexanderCowan.com@cowanSF
  48. 48. Copyright 2012 Cowan PublishingPLANNINGThesesGrowth?Retention?Supportability?Ongoing investment?Competition?HypothesesDoes anyone want this?Are we the people to do it?Pivot or persevere?ALEX COWANAlexanderCowan.com@cowanSF
  49. 49. Copyright 2012 Cowan PublishingPRIORITY KEY ASSUMPTIONSNEEDSPROVING?EXPERIMENTATION1End users at large want a visual toolto manage their phonesNo- Already proven by prototypes frompartner1Giving the capability to end useradmin’s will do more good than harmYes - Beta testing with customers1The design and architecture aresupportable in current customerenvironmentsYes- Lab testing with customers...but really...- Field testing at scale1The target price point is bearable bythe marketYes- Initial sales negotiations- Mainline (post beta) sales2The capability makes sense with endusers (vs. admin’s)Yes- Some proxy data on overall activity byuser type- Customer interviews- Beta testing2(Various makes and models ofphones are worth investing in)Yes - Advanced ordersPLANNING
  50. 50. Copyright 2012 Cowan PublishingPLANNINGGood ≠ ViralALEX COWANAlexanderCowan.com@cowanSF
  51. 51. This work is licensed under the Creative Commons Attribution-Share Alike 3.0 Unported License. To view a copy of this license, visit http://creativecommons.org/licenses/by-sa/3.0/ or send a letter to Creative Commons, 171 Second Street, Suite 300, San Francisco, California, 94105, USA.The templates here are made available on the same CC license terms as the original canvas.Fixed: product development, G&AVariable: field teams, supportBroadSoftOther resellersIntegratorsOther network systemvendorsProduct developmentLarge account mgmt.ConsultingCustom Dev.Actionable insighton cloud UCBest practice recipesDev. TeamLicensingMaintenance & SupportConsultingCustom DevelopmentDedicated personalassistanceBroadSoftSIPhon NetworksDirectReduced time & risk toget to marketReduced costImplementation oflearned best practicesLarge/incumbentMedium/competitiveSmall/nicheCopyright 2012 Cowan PublishingPLANNING
  52. 52. This work is licensed under the Creative Commons Attribution-Share Alike 3.0 Unported License. To view a copy of this license, visit http://creativecommons.org/licenses/by-sa/3.0/ or send a letter to Creative Commons, 171 Second Street, Suite 300, San Francisco, California, 94105, USA.The templates here are made available on the same CC license terms as the original canvas.LicensingMaintenance & SupportConsultingCustom DevelopmentDedicated personalassistanceBroadSoftSIPhon NetworksDirectReduced time & risk toget to marketReduced costImplementation oflearned best practicesLarge/incumbentMedium/competitiveSmall/nicheCopyright 2012 Cowan PublishingPLANNING
  53. 53. This work is licensed under the Creative Commons Attribution-Share Alike 3.0 Unported License. To view a copy of this license, visit http://creativecommons.org/licenses/by-sa/3.0/ or send a letter to Creative Commons, 171 Second Street, Suite 300, San Francisco, California, 94105, USA.The templates here are made available on the same CC license terms as the original canvas.Fixed: product development, G&AVariable: field teams, supportBroadSoftOther resellersIntegratorsOther network systemvendorsProduct developmentLarge account mgmt.ConsultingCustom Dev.Actionable insighton cloud UCBest practice recipesDev. TeamCopyright 2012 Cowan PublishingPLANNING
  54. 54. This work is licensed under the Creative Commons Attribution-Share Alike 3.0 Unported License. To view a copy of this license, visit http://creativecommons.org/licenses/by-sa/3.0/ or send a letter to Creative Commons, 171 Second Street, Suite 300, San Francisco, California, 94105, USA.The templates here are made available on the same CC license terms as the original canvas.Fixed: product development, G&AVariable: field teams, supportBroadSoftOther resellersIntegratorsOther network systemvendorsProduct developmentLarge account mgmt.ConsultingCustom Dev.Actionable insighton cloud UCBest practice recipesDev. TeamCopyright 2012 Cowan PublishingPLANNING
  55. 55. Copyright 2012 Cowan Publishingsee alexandercowan.com/finplanoperations begin2007 2008 2009 2010 2011 2012Revenue (consulting)(+somesoftware)(50%software)(scalingsoftware)Expenses (small/me+) (variable)(++fixedcosts)Financing (n/a)(small debtoffer- family)(n/a) (bank-basedfinancing)Earnings (profitable)Visibility (moderate)(low/moderate)(low/moderate)(high) (high)(current products:highnew products:moderate)PLANNING
  56. 56. Copyright 2012 Cowan PublishingORGANIZATIONALEX COWANAlexanderCowan.com@cowanSF
  57. 57. Copyright 2012 Cowan PublishingORGANIZATIONCustomerDevelopment(me)(dev & opsmgmt.)(dev & operationsteam)Scaling(me)(expandedsr. mgmt.)(dev &operations team)Feasibility(me)(devcontractors)ALEX COWANAlexanderCowan.com@cowanSF
  58. 58. Copyright 2012 Cowan PublishingDEVELOPMENTALEX COWANAlexanderCowan.com@cowanSF
  59. 59. Copyright 2012 Cowan PublishingDEVELOPMENTLOKIPORTALSITERATION 01 ITERATION 02 ITERATION 03 ITERATION 04ITERATION 01 ITERATION 02 ITERATION 03 ITERATION 04LOKIPROVISIONINGLOKI BPMDOC’S &INFRASTRUCTUREAITERATION 05ITERATION 05DECGPredictiveContentBFPredictiveContentPredictiveContentPredictiveContentAdaptiveContentAdaptiveContentAdaptiveContentAdaptiveContent
  60. 60. Copyright 2012 Cowan Publishing‘MUCH ADO ABOUT SOMETHING’Introduction to four of the leading ideasin high tech product development.‘IT WORKS WHEN YOU DO IT’A practical overview of how to learnand apply today’s best practices.‘LET’S DO IT’Templates and exercises.202020MINMINMIN
  61. 61. Copyright 2012 Cowan PublishingDOING IT - THE TEMPLATEhttp://ref.alexandercowan.com/pdesignALEX COWANAlexanderCowan.com@cowanSF
  62. 62. Copyright 2012 Cowan PublishingDOING IT - THE TEMPLATEhttp://ref.alexandercowan.com/pdesignALEX COWANAlexanderCowan.com@cowanSF
  63. 63. Copyright 2012 Cowan PublishingDOING IT - LEARNINGLEARNDESIGNDEVELOPDirect ObservationOnline ResearchPrototypingFIELD NOTESALEX COWANAlexanderCowan.com@cowanSF
  64. 64. Copyright 2012 Cowan PublishingDOING IT - DESIGNDESIGNLEARNVALIDATEDistilling Field ResearchPrototypingPERSONASPROBLEM SCENARIOSSTORIESASSUMPTIONSLEARNDESIGNDEVELOPDirect ObservationOnline ResearchPrototypingFIELD NOTESALEX COWANAlexanderCowan.com@cowanSF
  65. 65. Copyright 2012 Cowan PublishingDOING IT - VALIDATEVALIDATEDEVELOPDESIGNExperimental ResultsASSUMPTIONS - RESULTSDESIGNLEARNVALIDATEDistilling Field ResearchPrototypingPERSONASPROBLEM SCENARIOSSTORIESASSUMPTIONSLEARNDESIGNDEVELOPDirect ObservationOnline ResearchPrototypingFIELD NOTES
  66. 66. Copyright 2012 Cowan PublishingDOING IT - DEVELOPVALIDATEDEVELOPDESIGNExperimental ResultsASSUMPTIONS - RESULTSDESIGNLEARNVALIDATEDistilling Field ResearchPrototypingPERSONASPROBLEM SCENARIOSSTORIESASSUMPTIONSLEARNDESIGNDEVELOPDirect ObservationOnline ResearchPrototypingFIELD NOTESDEVELOPVALIDATELEARNAgile Dev.PRODUCT
  67. 67. Copyright 2012 Cowan PublishingDOING IT - THE TEMPLATEhttp://ref.alexandercowan.com/pdesignALEX COWANAlexanderCowan.com@cowanSF
  68. 68. Copyright 2012 Cowan PublishingBUY THE BOOKA practical primer for anyonewanting to actually implementtoday’s best practices in productdevelopment (available online orat any major retailer)VISIT THE SITEFree talks, tutorials, andresources for productdevelopment and new ventures.MORE?ALEX COWANAlexanderCowan.com@cowanSF
  69. 69. Copyright 2012 Cowan Publishing@cowanSFalexandercowan.com/blogacowan@alexandercowan.comalexandercowan.com/speakingalexandercowan.com/resourcesALEX COWANAlexanderCowan.com@cowanSF

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