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Venture Design, Session I at General Assembly (GA SF)

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Venture Design, Session I at General Assembly (GA SF)

  1. 1. Alex Cowan VENTURE DESIGN I ACHIEVING CUSTOMER RELEVANCE
  2. 2. copyright 2014 Cowan Publishing AGENDA Period Deliverables SESSION I: Achieving Customer Relevance Personas Problem Scenarios-Alternatives-Value Propositions Start Business Model Canvas Storyboards Customer Discovery Venture Design II: Iterating to Success Venture Planning- focal hypotheses, experiments, and minimum viable ‘product’ Venture Design III: Focusing & Validating Venture Progress Review of field work, refinements of approach, planning next steps. Venture Design IV: Engineering Your Business Model Detailing your business model and remaining focal assumptions. Venture Design V: Designing the Right Product Pairing your learnings on personas & hypotheses with high quality, actionable inputs (stories & wireframes) for product development and product validation.
  3. 3. copyright 2014 Cowan Publishing ABOUT ME ENTREPRENEUR (5X) INTRAPRENEUR (1X)
  4. 4. copyright 2014 Cowan Publishing ABOUT ME
  5. 5. copyright 2014 Cowan Publishing ABOUT ME www.alexandercowan.com
  6. 6. copyright 2014 Cowan Publishing IT’S A PROCESS Personas Some techniques are more effective than others. But they all require substantial, consistent exertion.
  7. 7. copyright 2014 Cowan Publishing VENTURE DESIGN Business Model Canvas Product & Promotion User Stories Test Cases ExperimentLearn Hypothesize Lean Startup- Style Assumptions Foundation in Design Thinking
  8. 8. copyright 2014 Cowan Publishing THE FULL STACK PRODUCT PERSON ALEX COWAN AlexanderCowan.com @cowanSF Specialties DESIGN&UX UNIXSYSADMIN RUBY PYTON JAVA PHP ... ENTERPRISESALES ... SEO ANALYTICS ... ... ... Foundation Skills LEAN DESIGN THINKING CUSTOMER DEV. AGILE Technical Literacy ARCHITECTURE FUNDAMENTALS App. & Platform Integration ROLES & SYSTEMS In a Technical Team SOFTWARE FUNDAMENTALS Model-View- Controller
  9. 9. THE ARITHMETIC IS THE SAME ALEX COWAN AlexanderCowan.com @cowanSF Profit Drivers Revenue Drivers Tighter Proposition (website, pres., etc.) Finite Cost Finite Deliverables Increased Use of Channels Ease of Entry Easy to See What's on MenuUpsell Intellectual Property Multipliers Tighter Talent Definition Simpler Training, Eval., Cost of Cost Drivers Less Consultative Selling Simplified Contracting Cost of Sales Standard Project Management Comparable Post Mortems Engagement Management (example: product-driven consulting)
  10. 10. copyright 2014 Cowan Publishing WHAT DRIVES VALUE HAS CHANGED Infrastructure- Driven UTILITIES TELECOM COMMODITIE S Scope- Driven RETAIL BANKING CORP. LAW Product- Driven PACKAGED GOODS APP. SOFTWARE MEDIA
  11. 11. copyright 2014 Cowan Publishing OLD SCHOOL VS. NEW SCHOOL How it was done How to do it $ !? ? ! ? ? ?
  12. 12. copyright 2014 Cowan Publishing Output vs. Outcome Scaling vs. Learning
  13. 13. copyright 2014 Cowan Publishing Learn First Scale Second
  14. 14. copyright 2014 Cowan Publishing BY THE NUMBERS ! THINK SEE FEEL DO PERSONAS Who? X PROBLEM SCENARIOS & ALTERNATIVES What? VALUE PROPOSITIONS & ASSUMPTIONS What if? ! USER STORIES & PROTOTYPES How? Scale? Pivot? PRODUCT & PROMOTION / CUSTOMER DISCOVERY & EXPERIMENTS Tell me…?
  15. 15. copyright 2014 Cowan Publishing BY THE NUMBERS ! THINK SEE FEEL DO PERSONAS Who? X PROBLEM SCENARIOS & ALTERNATIVES What? VALUE PROPOSITIONS What if? !
  16. 16. copyright 2014 Cowan Publishing VENTURE DESIGN Foundation in Design Thinking Product & Promotion User Stories & Test Cases Business Model Canvas ExperimentLearn Hypothesize Lean Startup- Style Assumptions
  17. 17. copyright 2014 Cowan Publishing VENTURE DESIGN Foundation in Design Thinking
  18. 18. copyright 2014 Cowan Publishing DESIGN THINKING Design Thinking Now Survival Then
  19. 19. copyright 2014 Cowan Publishing DESIGN THINKING Empathy Creativity
  20. 20. copyright 2014 Cowan Publishing DESIGN THINKING- APPLICATIONS
  21. 21. copyright 2014 Cowan Publishing DESIGN THINKING- APPLICATIONS Entry1 Urinate as they go2 Edges preferred3 Speedy4 PB > cheese5 Empathy
  22. 22. copyright 2014 Cowan Publishing Check & Repair 1 UV Validation 2 Relevant Placement 3 A Better Mousetrap 4 Power by Better Bait 5 Creativity
  23. 23. copyright 2014 Cowan Publishing DESIGN THINKING- PERSONAS Foundation in Design Thinking Personas Problem Scenarios Alternatives Your Value Propositions
  24. 24. copyright 2014 Cowan Publishing DESIGN THINKING- PERSONAS
  25. 25. copyright 2014 Cowan Publishing DESIGN THINKING- PERSONAS
  26. 26. copyright 2014 Cowan Publishing DESIGN THINKING- PERSONAS •Women •Age 28-45 •Have kids •Socialize with other mom’s •Online with Facebook •86% said they’d like to be more organized •70% said they’d use an application that organizes them
  27. 27. DESIGN THINKING- PERSONAS Bullet points are almost never vivid or detailed Stock photo- not real This is a huge population- not exact These responses are ‘fake actionable’- survey responses like this are unreliable •Women •Age 28-45 •Have kids •Socialize with other mom’s •Online with Facebook •86% said they’d like to be more organized •70% said they’d use an application that organizes them
  28. 28. copyright 2014 Cowan Publishing DESIGN THINKING - PERSONAS
  29. 29. copyright 2014 Cowan Publishing DESIGN THINKING- PERSONAS Mary is a mom by choice. She had a successful career in accounting, but welcomed the opportunity to be a stay at home mom. She loves it. But it’s not like having kids purged her creative, social instincts. She wants to connect, she wants to learn, she wants to interact. Being a mom is a job and she wants to do it well. That means corresponding with other mom’s on child education and keeping track of what works. She posts to Facebook at least twice a week and responds to other moms’ items more often than that. She has a few blogs and publications she reads regularly … Mary the Mom
  30. 30. copyright 2014 Cowan Publishing DESIGN THINKING- PERSONAS Mary is a mom by choice. She had a successful career in accounting, but welcomed the opportunity to be a stay at home mom. She loves it. But it’s not like having kids purged her creative, social instincts. She wants to connect, she wants to learn, she wants to interact. Being a mom is a job and she wants to do it well. That means corresponding with other mom’s on child education and keeping track of what works. She posts to Facebook at least twice a week and responds to other moms’ items more often than that. She has a few blogs and publications she reads regularly … Mary the Momthe use of a first name helps w/ vividness (a little) these full sentences look like a good start towards something vivid and detailed this is a real photo of a relevant person taken with an iPhone in the real world
  31. 31. Copyright 2014 Cowan Publishing V A R I E D ivid The persona should make anyone who reads it feel like they’ve actually met this person. ALEX COWAN AlexanderCowan.com @cowanSF
  32. 32. Copyright 2014 Cowan Publishing V A R I E D ivid ALEX COWAN AlexanderCowan.com @cowanSF If the persona doesn’t inform how you sell stuff and build stuff, why bother? ctionable
  33. 33. Copyright 2014 Cowan Publishing V A R I E D ivid ALEX COWAN AlexanderCowan.com @cowanSF eal Good personas aren’t created in cubicles. Go where the persona is and observe. ctionable
  34. 34. Copyright 2014 Cowan Publishing V A R I E D ivid ALEX COWAN AlexanderCowan.com @cowanSF eal ctionable Make sure you can identify and target these personas, or you won’t be able to find a use for them. dentifiable
  35. 35. Copyright 2014 Cowan Publishing V A R I E D ivid ALEX COWAN AlexanderCowan.com @cowanSF eal ctionable dentifiable ‘Everyone’ is not your customer. Make sure the personas are distinct so you can apply relevant focus. xact
  36. 36. Copyright 2014 Cowan Publishing V A R I E D ivid eal ctionable dentifiable xact etailed People are complicated and so good personas are usually pretty substantial.
  37. 37. copyright 2014 Cowan Publishing EXERCISE- PERSONA CREATION List at least 3 personas Mary the Working Mom Susan the Stay-at-Home Mom Douglas the Dad Nathan the Nanny Ivan the Infant … (4 min) use 1 index card/persona
  38. 38. copyright 2014 Cowan Publishing A LITTLE GAME FOR BETTER PERSONA DISCOVERY (4 min) Day in the Life we look at a few photos for a given persona you make some guesses about them there are no right answers BUT there is a right process: observe and infer OBJECTIVE: get a feel for what’s real; start to create something vivid (not a full picture, just snippets)
  39. 39. OUR CAST Sally the Single Mom Luke the Late Millenial Miguel the Mid-Mellenial Trent the Techie Umberto the Undergrad Bob the Baby Boomer
  40. 40. OUR CAST Sally the Single Mom
  41. 41. copyright 2014 Cowan Publishing WAKE UP!
  42. 42. WAKE UP!
  43. 43. GEARING UP FOR THE DAY
  44. 44. AT WORK
  45. 45. AFTER WORK
  46. 46. PRE-BED
  47. 47. BED
  48. 48. GEAR
  49. 49. IF I HAD 3 EXTRA HOURS
  50. 50. ABOUT SALLY THE SINGLE MOM… What’s her favorite kind of music? Band/composer? Where did she buy her last pair of shoes? What movie did she last see? What did she drink with dinner last night? If she had a dog, what kind? What’s her favorite magazine?
  51. 51. OUR CAST Sally the Single Mom Luke the Late Millenial Miguel the Mid-Mellenial Trent the Techie Umberto the Undergrad Bob the Baby Boomer
  52. 52. OUR CAST Miguel the Mid-Mellenial
  53. 53. copyright 2014 Cowan Publishing WAKE UP!
  54. 54. copyright 2014 Cowan Publishing BREAKFAST & HEAD TO WORK
  55. 55. copyright 2014 Cowan Publishing AT WORK
  56. 56. copyright 2014 Cowan Publishing AFTER WORK
  57. 57. copyright 2014 Cowan Publishing PRE-BED
  58. 58. copyright 2014 Cowan Publishing GEAR
  59. 59. copyright 2014 Cowan Publishing IF I HAD 3 EXTRA HOURS
  60. 60. copyright 2014 Cowan Publishing ABOUT MIGUEL THE MID-MILLENIAL… What’s his favorite kind of music? Band/composer? Where did he buy his last pair of shoes? What movie did he last see? What did he drink with dinner last night? If he had a dog, what kind? What’s his favorite magazine?
  61. 61. OUR CAST Sally the Single Mom Luke the Late Millenial Miguel the Mid-Mellenial Trent the Techie Umberto the Undergrad Bob the Baby Boomer
  62. 62. OUR CAST Umberto the Undergrad
  63. 63. copyright 2014 Cowan Publishing WAKE UP!
  64. 64. copyright 2014 Cowan Publishing HEAD TO SCHOOL
  65. 65. copyright 2014 Cowan Publishing AT SCHOOL
  66. 66. copyright 2014 Cowan Publishing AFTER SCHOOL
  67. 67. copyright 2014 Cowan Publishing PRE-BED
  68. 68. copyright 2014 Cowan Publishing GEAR
  69. 69. copyright 2014 Cowan Publishing IF I HAD 3 EXTRA HOURS…
  70. 70. copyright 2014 Cowan Publishing ABOUT UMBERTO THE UNDERGRAD… What’s his favorite kind of music? Band/composer? Where did he buy his last pair of shoes? What movie did he last see? What did he drink with dinner last night? If he had a dog, what kind? What’s his favorite magazine?
  71. 71. OUR CAST Sally the Single Mom Luke the Late Millenial Miguel the Mid-Mellenial Trent the Techie Umberto the Undergrad Bob the Baby Boomer
  72. 72. OUR CAST Luke the Late Millenial
  73. 73. copyright 2014 Cowan Publishing WAKE UP!
  74. 74. copyright 2014 Cowan Publishing BREAKFAST AND HEAD TO SCHOOL
  75. 75. copyright 2014 Cowan Publishing AT SCHOOL
  76. 76. copyright 2014 Cowan Publishing AFTER SCHOOL
  77. 77. copyright 2014 Cowan Publishing PRE-BED
  78. 78. copyright 2014 Cowan Publishing ABOUT LUKE THE LATE-MILLENIAL… What’s his favorite kind of music? Band/composer? Where did he buy his last pair of shoes? What movie did he last see? What did he drink with dinner last night? If he had a dog, what kind? What’s his favorite magazine?
  79. 79. OUR CAST Sally the Single Mom Luke the Late Millenial Miguel the Mid-Mellenial Trent the Techie Umberto the Undergrad Bob the Baby Boomer
  80. 80. OUR CAST Trent the Techie
  81. 81. WAKE UP!
  82. 82. BREAKFAST
  83. 83. WORKING FROM HOME
  84. 84. BREAKS
  85. 85. GEAR
  86. 86. ABOUT TRENT THE TECHIE What’s his favorite kind of music? Band/composer? Where did he buy his last pair of shoes? What movie did he last see? What did he drink with dinner last night? If he had a dog, what kind? What’s his favorite magazine?
  87. 87. OUR CAST Sally the Single Mom Luke the Late Millenial Miguel the Mid-Mellenial Trent the Techie Umberto the Undergrad Bob the Baby Boomer
  88. 88. OUR CAST Bob the Baby Boomer
  89. 89. copyright 2014 Cowan Publishing WAKE UP!
  90. 90. copyright 2014 Cowan Publishing WAKE UP!
  91. 91. copyright 2014 Cowan Publishing TO THE OFFICE
  92. 92. copyright 2014 Cowan Publishing TO THE OFFICE
  93. 93. copyright 2014 Cowan Publishing WORK/PLAY
  94. 94. copyright 2014 Cowan Publishing FITNESS
  95. 95. copyright 2014 Cowan Publishing LEISURE
  96. 96. copyright 2014 Cowan Publishing DINNER AT HOME
  97. 97. copyright 2014 Cowan Publishing ABOUT BOB THE BABY BOOMER What’s his favorite kind of music? Band/composer? Where did he buy his last pair of shoes? What movie did he last see? What did he drink with dinner last night? If he had a dog, what kind? What’s his favorite magazine?
  98. 98. copyright 2014 Cowan Publishing EXERCISE- PERSONA CREATION Which are buyers? Users? Both? Note with a ‘B’ and/or ‘U’ on the Post-It (1 min.) Mary the Working Mom (B, U) Susan the Stay-at-Home Mom (B, U) Douglas the Dad (U) Nathan the Nanny (U) Ivan the Infant (U) …
  99. 99. copyright 2014 Cowan Publishing EXERCISE- PERSONA CREATION Can you think of 5 real examples for each? (2 min.)
  100. 100. copyright 2014 Cowan Publishing EXERCISE- PERSONA CREATION Which have the most compelling need, desire? Sort top to bottom (1 min.)
  101. 101. copyright 2014 Cowan Publishing EXERCISE- PERSONA CREATION For your top person, complete Think-See-Feel-Do (6 min.) Thinks: Helen thinks the hiring process should be so much better- more systematic, fewer bad hires. Professional development is something they’ve identified that they want to do better, but the functional managers aren’t engaged enough to get the whole thing started. Sees: Helen is at the tail end of every bad hire and sees the damage it does to the employee and company, alike. Helen sees that online learning has rocketed forward in the last few years. If someone wants to learn a specific skill, there’s a number of high quality options online, many of them free. They just need a way to help employees organize select into these courses. Feels: Helen feels like crap whenever they have to let someone go. She hates it. The employee hates it. The manager hates it. It’s incredibly destructive and de-motivating for everyone involved. Helen would love to be more involved, more included in functional skills evaluation and improvement. She’s love to have a success story to talk about. Most HR departments don’t do a whole lot in this area. Does: Helen’s relatively responsive to new ideas, particularly if someone knowledgeable is willing to come in and talk about it. If she likes it, she’ll bring it to the functional managers, who are usually the ultimate decision makers since without their support she can’t get the system online and working. Post-sale, Helen will help keep the program organized, moving, and otherwise on the functional managers radar. All this is predicated on Helen being equipped with the right messages, facts, and best practices to make the purchase and use of Enable Quiz effective. EXAMPLE: HELEN THE HR MANAGER
  102. 102. copyright 2014 Cowan Publishing DESIGN THINKING- PERSONAS PROBLEM SCENARIO X
  103. 103. copyright 2014 Cowan Publishing DESIGN THINKING- PERSONAS PROBLEM SCENARIO X What job(s) are you doing for the customer? What existing need or behavior are you fulfilling?
  104. 104. copyright 2014 Cowan Publishing DESIGN THINKING- PERSONAS ALTERNATIVE(S) ? PROBLEM SCENARIO X
  105. 105. copyright 2014 Cowan Publishing DESIGN THINKING- PERSONAS ALTERNATIVE(S) ? PROBLEM SCENARIO X If they currently use spreadsheets, watch them use it and get a copy of it. If they currently put notes on the family fridge, ask about it, photograph it.
  106. 106. copyright 2014 Cowan Publishing EXERCISE- PROBLEM SCENARIOS & ALTERNATIVES Brainstorm Problem Scenario-Alternative Pairs. (7 min.) ALTERNATIVE(S) ? PROBLEM SCENARIO X Problem: Mary would like to be more structured and consistent in her use of allowances to teach the link between work and financial rewards. Alternative: Track the completion of chores, homework, etc. manually using paper, boards, notes on her phone.
  107. 107. copyright 2014 Cowan Publishing DESIGN THINKING- PERSONAS YOUR VALUE PROPOSITIONS ! ALTERNATIVE(S) ? PROBLEM SCENARIO X
  108. 108. copyright 2014 Cowan Publishing DESIGN THINKING- PERSONAS YOUR VALUE PROPOSITIONS ! ALTERNATIVE(S) ? PROBLEM SCENARIO X Are they better enough than the alternative(s)?
  109. 109. copyright 2014 Cowan Publishing YOUR PRODUCT HYPOTHESIS A certain PERSONA exists… X… and they have a certain PROBLEMS(S) … ? … where they’re currently using certain ALTERNATIVE(S) … ! … and I have a VALUE PROPOSITION that’s better enough than the alternatives to cause the persona to act (purchase, use, etc.).
  110. 110. copyright 2014 Cowan Publishing EXERCISE- VALUE PROPOSITIONS Add Value Propositions to your top Problem Scenario + Alternative Pairs (3 min.) YOUR VALUE PROPOSITIONS! ALTERNATIVE(S) ? PROBLEM SCENARIO X Problem: Mary would like to be more structured and consistent in her use of allowances to teach the link between work and financial rewards. Alternative: Track the completion of chores, homework, etc. manually using paper, boards, notes on her phone. Value Proposition: Use our app to easily and consistently implement best practices tailored to your situation.
  111. 111. copyright 2014 Cowan Publishing EXERCISE- PERSONA CREATION Prioritize your value propositions- if you could only pitch one, which? After that? Etc. 2 min.
  112. 112. copyright 2014 Cowan Publishing YOUR PRODUCT HYPOTHESIS A certain PERSONA exists… X… and they have a certain PROBLEMS(S) … ? … where they’re currently using certain ALTERNATIVE(S) … ! … and I have a VALUE PROPOSITION that’s better enough than the alternatives to cause the persona to act (purchase, use, etc.).
  113. 113. YOUR PRODUCT HYPOTHESIS (4 MIN) A certain PERSONA exists… … and they have a certain PROBLEMS(S) … … where they’re currently using certain ALTERNATIVE(S) … … and I have a VALUE PROPOSITION that’s better enough than the alternatives to cause the persona to act (purchase, use, etc.). ‘HR and functional managers are in charge of technical hires and they struggle to effectively screen for technical skill sets, making the hiring process slower and more labor intensive and producing worse outcomes than they should reasonably expect. Currently they implement a patchwork of calling references and asking a few probing questions. By offering an easy, affordable, lightweight technical quizzing solution, Enable Quiz can acquire and retain these customer personas, delivering material Enable Quiz example:
  114. 114. copyright 2014 Cowan Publishing THE BUSINESS MODEL CANVAS 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. (Cost Structure) (Key Partners) (Key Activities) (Key Resources) (Revenue Streams) (Customer Relationships) (Channels) (Value Propositions) (Customer Segments)
  115. 115. copyright 2014 Cowan Publishing THE BUSINESS MODEL CANVAS
  116. 116. copyright 2014 Cowan Publishing SEGMENT TO VALPROP MAPPING 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. Cost_1 Cost_2 Cost_3 Partner_1 Partner_2 Partner_3 Activity_1 Activity_2 Activity_3 Resource_1 Resource_2 Resource_3 Revenue_1 Revenue_2 Revenue_3 Relationship_1 Relationship_2 Relationship_3 Channel_1 Channel_2 Channel_3 Proposition_1 Proposition_2 Proposition_3 Segment_1 Segment_2 Segment_3
  117. 117. copyright 2014 Cowan Publishing THE INDEPENDENT VARIABLE Value Propositions Customer Segments 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. (Cost Structure) (Key Partners) (Key Activities) (Key Resources) (Revenue Streams) (Customer Relationships) (Channels) (Value Propositions) (Customer Segments)
  118. 118. copyright 2014 Cowan Publishing CUSTOMER SEGMENTS VS. PERSONAS ≈ Customer Segments Customer Segments Personas
  119. 119. copyright 2014 Cowan Publishing EXERCISE: MAPPING CUSTOMER SEGMENTS TO VP’S 1. Print out the Canvas 2. List your prioritized personas (Customer Segments) and Value Propositions 3. Map your personas to your Value Propositions (4 min) 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. Cost_1 Cost_2 Cost_3 Partner_1 Partner_2 Partner_3 Activity_1 Activity_2 Activity_3 Resource_1 Resource_2 Resource_3 Revenue_1 Revenue_2 Revenue_3 Relationship_1 Relationship_2 Relationship_3 Channel_1 Channel_2 Channel_3 Proposition_1 Proposition_2 Proposition_3 Segment_1 Segment_2 Segment_3
  120. 120. copyright 2014 Cowan Publishing PEER PRESENTATION PREP! For [target customer] who [statement of the need or opportunity], the [product name] is a [product category] that [statement of key benefit/key reason to buy]. unlike [primary alternative], our product [statement of primary differentiation]. Describe your venture accordingly (4 min.)
  121. 121. copyright 2014 Cowan Publishing PEER PRESENTATIONS As Presenter 1) What is this? (pos. statement) 2) Who is the persona? What kind of shoes do they wear? 3) What problem scenario(s) are you looking at? What alternatives does the persona use now? 4) What’s your value proposition? 5) What do you need to learn more about? As Audience - Focus on the process; avoid editorial - Ask a lot of questions - Think about it like an investor 5 min./ each
  122. 122. copyright 2013 Cowan Publishing STORYBOARDING: ORIGINS copyright Fred Moore & Disney Pictures
  123. 123. STORYBOARDING EXAMPLE copyright 2013 Cowan Publishing
  124. 124. STORYBOARDING EXAMPLE copyright 2013 Cowan Publishing
  125. 125. copyright 2013 Cowan Publishing ENABLE QUIZ: PROBLEM SCENARIOS X Helen the HR Manager “It’s hard for me to screen on technical skill sets and I end up sending Frank unqualified recruits.” Frank the Functional Manager “I have limited time and I don’t want to be a jerk. It’s hard to screen for all the relevant technical skill sets.” PERSONA PROBLEM SCENARIO - Call references - Take their word for it - A few probing questions - Take their word for it ?ALTERNATIVE(S) !VALUE PROPOSITIONS New ability for meaningful screening of technical candidates, increasing % of successful hires and lowering Frank’s workload on recruiting. Less time doing interviews, and better hires sooner.
  126. 126. copyright 2013 Cowan Publishing STORYBOARDING A PROBLEM SCENARIO- BEFORE AND AFTER AFTER BEFORE
  127. 127. copyright 2014 Cowan Publishing EXERCISE- BEFORE AND AFTER BOARDS 1. Using the squares, create a before and then after storyboard- 3 panels each (10 min.) BEFORE (using the Alternative) AFTER (with the Value Proposition)
  128. 128. copyright 2014 Cowan Publishing Foundation in Design Thinking Personas Problem Scenarios Alternatives Your Value Propositions SELLING STUFF Who’s buying? Where? Why? Who are we selling to? Where do we reach them? With what proposition? MAKING STUFFWhat does the user actually do? What does the user (most) want? DESIGN THINKING- USING PERSONAS
  129. 129. copyright 2014 Cowan Publishing DESIGN THINKING - CREATING PERSONAS MVP Tell me about yourself. What do you do? How often? How does it make you feel? Interviews AdWords, etc. + Landing Page Tests Real-Time Analytics & Recording Minimum Viable Product What language, propositions resonate? What is the customer prepared to do? What do users actually do? Do customers like it? Buy it? Use it? Tell others about it?
  130. 130. copyright 2014 Cowan Publishing FULL CIRCLE ! THINK SEE FEEL DO PERSONAS Who? X PROBLEM SCENARIOS & ALTERNATIVES What? VALUE PROPOSITIONS & ASSUMPTIONS What if? ! USER STORIES & PROTOTYPES How? Scale? Pivot? PRODUCT & PROMOTION / CUSTOMER DISCOVERY & EXPERIMENTS Tell me…?
  131. 131. copyright 2014 Cowan Publishing 4 TYPES OF LEAN HYPOTHESES PERSONA HYPOTHESIS PROBLEM HYPOTHESIS VALUE HYPOTHESIS CUSTOMER CREATION HYPOTHESIS
  132. 132. copyright 2014 Cowan Publishing PERSONA HYPOTHESIS Does this person exist? Can you identify them? Do you understand them really well? What do they think-see-feel-do in your area?
  133. 133. copyright 2014 Cowan Publishing PERSONA HYPOTHESIS ‘Everyone is my customer!’ Possibly true at some point, but you need to nail early adopters to get traction.
  134. 134. copyright 2014 Cowan Publishing PERSONA HYPOTHESIS ‘There are a few customers to focus on- I’m not sure which one’. Pick the one with the most compelling need and choose. Or guess. But don’t diffuse your focus.
  135. 135. copyright 2014 Cowan Publishing PERSONA HYPOTHESIS ‘I can’t find anyone to interview’ Then I would step back. This almost certainly means you’ll have trouble with the next steps as well.
  136. 136. copyright 2014 Cowan Publishing PERSONA HYPOTHESIS ‘I think I get this persona, but I’m not sure about the whole think-see-feel- do thing.’ Think-see-feel-do is not the only way to go but it’s pretty good. Solid personas are the stitch in time that saves 9.
  137. 137. copyright 2014 Cowan Publishing PROBLEM HYPOTHESIS Have you identified a discrete problem/need? How important is it to the target persona(s)? What alternatives do they use today? How?
  138. 138. copyright 2014 Cowan Publishing PROBLEM HYPOTHESIS ‘During customer discovery interviews, the subjects consistently mentioned our problem scenario’ Excellent! That’s a good preliminary validation you’re on the right track.
  139. 139. copyright 2014 Cowan Publishing PROBLEM HYPOTHESIS ‘We did a questionnaire and >80% of subjects said they wish [our problem area] was better.’ Don’t trust questionnaires, especially with leading questions. Focus on face-to- face.
  140. 140. copyright 2014 Cowan Publishing PROBLEM HYPOTHESIS ‘I am in this business/I am one of these personas and I know I have this problem- and I’m sure it exists for most others like me.’ Good start but approach discovery like you know nothing.
  141. 141. copyright 2014 Cowan Publishing PROBLEM HYPOTHESIS ‘Our product doesn’t really address a problem, exactly, so this isn’t relevant for us.’ There are no new problems or habits. Make sure you know what you’re after.
  142. 142. copyright 2014 Cowan Publishing PROBLEM HYPOTHESIS ‘Our product is so fundamentally novel that there are no current alternatives.’ (see previous)
  143. 143. copyright 2014 Cowan Publishing PROBLEM HYPOTHESIS ‘We’ve mapped out the alternative and observed or key personas in action with them.’ Excellent! You’re ready to synthesize, tune and test your value proposition!
  144. 144. copyright 2014 Cowan Publishing VALUE HYPOTHESIS How much better than the best alternative is your product? How obvious is that to the customer?
  145. 145. copyright 2014 Cowan Publishing VALUE HYPOTHESIS ‘Over 80% of the people we asked said they’d buy our product!’ Can’t trust it- Yellow Walkman data
  146. 146. copyright 2014 Cowan Publishing VALUE HYPOTHESIS ‘We did a concierge test and [got paid, got asked by the customer when they could buy our product].’ Excellent! You’re on the fast track of iterating to a successful outcome. Time to look at an actual MVP.
  147. 147. copyright 2014 Cowan Publishing VALUE HYPOTHESIS ‘We finished our concierge test. They liked it but as a result it was a long way to conclusive.’ Now that you know how, could you get paid for the next one? Try other test and then if negative, consider pivot.
  148. 148. copyright 2014 Cowan Publishing VALUE HYPOTHESIS ‘We made a bunch of pre-release sales, but they’re non-binding.’ That’s OK (as long as you made the agreement with a real decision maker). You’ve got a reasonably good validation of value hypothesis.
  149. 149. copyright 2014 Cowan Publishing VALUE HYPOTHESIS ‘We couldn’t make any pre-release sales.’ Why not? No interest? That’s bad. Need to sell real product (and that’s really why), consider what’s behind that.
  150. 150. copyright 2014 Cowan Publishing VALUE HYPOTHESIS ‘We found a few AdWord-landing page combinations that had better than expected click through and conversion rates to email sign-up’s.’ Excellent! That’s a good validation of your value hypothesis and you’re gotten a jump start on your Customer Creation Hypotheses.
  151. 151. copyright 2014 Cowan Publishing VALUE HYPOTHESIS ‘We tried a few things with AdWords and landing pages, but the results weren’t great.’ What happens when you try the same thing out in the real world? Search is a good way to connect with existing demand but not necessarily learn about its fundamentals.
  152. 152. copyright 2014 Cowan Publishing CUSTOMER CREATION HYPOTHESIS How will you get the customer’s: attention, interest, desire, action, onboarding, retention? How will you know if it’s working?
  153. 153. copyright 2014 Cowan Publishing CUSTOMER CREATION HYPOTHESIS Most of these results are pretty definitive.
  154. 154. copyright 2014 Cowan Publishing “HOMEWORK” 1. Draft a working set of personas Pick the most important buyers and/or users. More is not necessarily better- you can always add more (re-segment) later. Finish think-see-feel-do. Find a photo. 2. Draft a working set of problem scenario-alternative-value proposition trios. 3. Finish a working product hypothesis and positioning statement. 4. Finish a working interview guide to validate your persona and problem hypotheses. GOOGLE DOC TEMPLATE: http://bit.ly/venturetemplate RESOURCES: http://bit.ly/VDsprint1
  155. 155. copyright 2014 Cowan Publishing AGENDA Period Deliverables SESSION I: Achieving Customer Relevance Personas Problem Scenarios-Alternatives-Value Propositions Start Business Model Canvas Storyboards Customer Discovery Venture Design II: Iterating to Success Venture Planning- focal hypotheses, experiments, and minimum viable ‘product’ Venture Design III: Focusing & Validating Venture Progress Review of field work, refinements of approach, planning next steps. Venture Design IV: Engineering Your Business Model Detailing your business model and remaining focal assumptions. Venture Design V: Designing the Right Product Pairing your learnings on personas & hypotheses with high quality, actionable inputs (stories & wireframes) for product development and product validation.
  156. 156. copyright 2014 Cowan Publishing FINI @cowanSF www.alexandercowan.com/venture-design bit.ly/venturedesign Slides: bit.ly/GA-VD1 acowan@alexandercowan.com Resources: bit.ly/VDsprint1

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