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Product Development for startup

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Product Development for startup

  1. 1. Product Development for startup Aslam Hirani
  2. 2. What is startup
  3. 3. Startups run with constraints
  4. 4. Startup want to provide value to end customers Value
  5. 5. 34% startups find challenge in Product Development* * https://www.startupmuster.com/Startup-Muster-2015-Report.pdf
  6. 6. Three important steps in product development What to build 1 Build it How can we improve it 2 3
  7. 7. Three important steps in product development What to build 1 Build it How can we improve it 2 3
  8. 8. Fortune - “top reason” that startups fail: “They make products no one wants.” 42% of them identified the “lack of a market need for their product” What is to be built Build it How can we improve it Fortune - 2014 survey
  9. 9. If you take too much time and you realize that customers want something else What is to be built Build it How can we improve it
  10. 10. Build what users need Challenges Goal Who is the user Day in life of the user What is to be built Build it How can we improve it User Requirements
  11. 11. Three important steps in product development What to build 1 Build it How can we improve it 2 3
  12. 12. Time to market is vital for companies to produce value Competition Technologies change What is to be built Build it How can we improve it
  13. 13. Schoolgennie ● Time take to release the product - 11 months ● Funding - 15 Lakhs ● Looked at competitor product features to build product. ● No interaction with customers while building the product What is to be built Build it How can we improve it http://yourstory.com/2014/10/schoolgennie-failure-reasons/
  14. 14. Neverending ● Neverending - video game ● Time taken - 18 months ● Customers did not like the game What is to be built Build it How can we improve it http://gaming.wikia.
  15. 15. Build Minimum value product What is to be built Feature 1 Feature 2 Feature 3 Feature 4 Product or Prototype What is to be built Build it How can we improve it
  16. 16. FTW - Avoid to deliver perfection in first release Name – FTW ● Tried to deliver “perfection” in my first shot, which is never possible. ● Improvise gradually. What is to be built Build it How can we improve it http://crackjobinterview.com/10-indian-startups-that-failed-in-2014/
  17. 17. Google Docs If Google had waited to implement the comparable set, or even 20% of the most commonly used functionality, it would have taken them years before the first release. http://www.deltamatrix.com/agile-time-to-market What is to be built Build it How can we improve it
  18. 18. ID - Start small to understand the customer response Initial target - 20 stores Sell 100 packets a day in six months What is to be built Build it How can we improve it http://www.rediff.com/getahead/report/how-a-coolies-son-set-up-a-rs-100-crore-company/20151216.htm
  19. 19. Develop limited features but with speed and quality Speed Quality Simple Simplicity What is to be built Build it How can we improve it
  20. 20. Keep your products simple What is to be built Build it How can we improve it
  21. 21. Team ● Dependent on part timers ● Product oriented ● Cross Functional What is to be built Build it How can we improve it
  22. 22. Three important steps in product development What to build 1 Build it How can we improve it 2 3
  23. 23. 64 % of features in products are “rarely or never used* What is to be built Build it How can we improve it *Standish group study
  24. 24. Continuous feedback to improve the product Social Media/ Discussion Groups Warranty/Cust omer Support Device/Software Product development Feedback, Product Ideas Product Returns product issues Live Chat SME involvement Software update Trainings Operations Support Training Product Performance Update of product features Usage of features What is to be built Build it How can we improve it
  25. 25. THANK YOU

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