GravityConfessions of a serial intrapreneurHarsh Jawharkar
Before we begin… The opinions expressed are solely my own based onlessons learned over the last 14 years across multipleindustries and circumstances Practical lessons learned, no theory, no prescriptions Please share your own learnings and feedback –email@example.com
Serial „intrapreneur‟ = launching new ventures (mostlyunfunded) within the constraints of large organizations3Started out designing/launching new products atleading firms like IDEO, A.T. Kearney, Pfizer, andSapientLaunched a social payments venture and built up theincubator at Wells Fargo; now that technology is beingcommercialized into the largest joint-venture personalpayment network in the U.S.Created a new type of „wallet‟ at PayPal by commercializinganaward-winning product platform; laid the foundation for thecompany to go after the multi-billion dollar global prepaidmarketCurrent Role –Managing Director – Mobile and New ChannelDevelopment at Charles Schwab & Co.
Quick Poll – Major product innovation pain-points“The matrix prevents innovation – responsibility without authority”“Making do with the talent on board – some people are great, somepeople aren‟t”“Conducting „test and learn‟ in a risk-averse consensus environment”“Knowing when to let go and deviating from your vision”“How can we be operationally efficient AND innovative?”“Being „Agile‟ in a waterfall environment”“Difficulty prioritizing „bets‟ and managing the pipeline”“Finding the right speed for innovation – going too fast or too slow”“Getting funded – how to pitch reputation conscious corporatesponsors”“Competing with or cannibalizing entrenched products”5
Key Themes6StoryProcessApproachTeam Building the right team,getting people motivated,and establishing the rightattitudeSolving the right problem,focusing on the minimumviable product, and boot-strapping your way to launchFinding the right fit, adaptingto your speed, pivoting, andmeasuring for successEvangelizing, game-planning, and creating acoalition of support (internaland external)
Build a T-shaped team – quality over quantityThinking Linking Doing Observing Empathizing Brainstorming Cross-pollinating Synthesizing Facilitating Executing Implementing Testing8Bottom Line•No delicate geniuses or divas; find tough people with thick skins•Get to know your team‟s strengths/weaknesses as early as possible
You can‟t teach attitude but you can teach skills Prioritize quick learnersover "domain experts” The experts are nice-to-have; but all thingsequal, find the hungrypeople You can‟t teach attitude,so don‟t overvalueaptitude9The upstart The expert
Listen to the skeptics but shed the deadweight Negativity is contagious,everyone is impressionable Cut out the virus before itspreads and affects the rest ofyour team Two options:1) Step in to fill the gaps andpick up the load2) Use it as a growthopportunity for other team 10
Sometimes we forget about the sweat equity Leave your titles andegos at the door to buildteam spirit You may be thequarterback but you needto block and tackle to getpeople to buy into thevision Create a „huddle‟ to getpeople excited and makethe „handoffs‟ seamless 11
You‟re the pinch hitter, shortstop, handyman, and more…Design Build Lead Monetize EvangelizeDesign theminimum viableproductDocument and drivefeature developmentWork acrossdisciplines to drivecreation of allartifacts necessary(e.g. use-cases,architecture,sitemap, wireframes,content, etc.)Establish theproduct roadmap -Manage the flow ofwork; anticipateand trouble-shootIterate and createrepeatable andscalable practicesto drive ease +efficiencyOwn the business– every decision isframed by the costof doing businessand the valuecreatedMeasureengagement andobtain feedback forfast iteration to getto product-marketfit and to createmonetizationoptionsSell the vision –internally andexternally –establish advocacyand developchampionsBe a scout – get infront to clearroadblocks andhurdles to makeeveryone‟s jobseasierBring alldisciplinestogether (rightplace, right time)– to realize thebusiness strategy– from concept toexecution -seamlessly12Bottom Line:There‟s a difference between being a decisive leader and apassive „manager‟
What „type‟ is your challenge and what assets do youhave? Is it evolutionary? Is it moreimportant to go after aquick win? Or is it revolutionary? Areyou solving somethingeveryone else has failedat? Are you going to build, buy,or integrate? What piecesdo you have in place? 14
Map the battlefield– they‟re not gonna let you just build itOperationalize BuildLynchpinBudget/P&LLegal/RiskExecSponsorMgmtPRD/MVPWireframesTaskflowSitemapUse-casesTest ScriptsContentSchemaProd ArchitectureCashflowProgressReportsRegulatory ComplianceFraud ModelsCustSupportSvcing InfrastructureAdmin SiteFin/AcctgProcesses AnalyticsSystem AdminApproachEnggDesign/ContentPM/AnalystQA15Identify roadblocks early, can you use influencers to openthose gates?
Focus on the minimum viable product, not ideal productCustomerProblemDiscoveryDefineHypotheses+ MVPTest MVPMeasure+ValidateProduct-Market Fit?ExitScale +Monetize(as-is)Pivot(s) +Scale +MonetizeReferences:1) Steve Blank2) Sean Ellis3) Eric RiesUse Qualitative +Quantitative methods totest the MVPLook for pivots acrosssolution use-casesFind the right set ofproblems to solvePrioritize the problemyou think you can solveBuild and launch theMVP to test hypothesesBased on iterations,determine the productfits the market needs16
Pick depth of insights over breadth There‟s never enoughtime or money to do the„ideal‟ amount of research Use syndicated researchto get breadth but pay forqualitative insights to getdepth Focus on the behaviorsthat will “make” yourproduct – use that as abasis for your metrics 17
Eat your own dog food and make it interesting18 “Personality is the API forloyalty” Find ways to live theproduct, regardless of yourrole on the team Belief is important for theteam; if you don‟t believe noone else willSources:bigorangeslide.com, Fred Wilson‟s A VC Blog
Fake it till you make it19UserenrollsLog inEnterExpensesAlgorithmSendIOUs/Request $Make aPaymentSettlementAccountRoutefunds torequesterReceiveMoneyMajor CapabilityGapIf there are show-stoppinggaps…Find a way to boot-strap to drivetraction and hit critical massSample User Flow Diagram
Find the path that fits your type of innovation21EvolutionSystematicinnovationprocesses andportfolios managedat an enterprise levelRevolutionSmall group ofintrapreneurs,skunkworks, or tigerteams looking foropportunities to fail fastSocratic Scoring1. How attractive is the opportunity?2. What is the level of alignment with our strategic objectives?3. How actionable is the opportunity?
Buyer beware – shiny new processes need to be broken inIteration 0 Iteration 1 Iteration 28 weeksILLUSTRATIVE (Not to Scale)CYCLE 1CYCLE 2• MVP and Vision is set• Base BRD = PRD +Product/BusinessStrategy• Core sitemap, high leveltask-flows created• Technical architectureestablished andenvironment/stack is final• Project plan (baseline)created and feature-setgrouped across iterations• Artifacts for Iter. 2coding are prepared• Includes – PRDUpdate,Wireframes, Use-cases, QA testscripts, etc.• Code, test, anddeploy Iter. 1feature set• Code, test, anddeploy Iter. 2feature set• Artifact creation forIter. 3• Between specific iterations, conducted multiple „Listening Labs‟(usability) to ensure the MVP is still relevant and sound – using low-fidelity prototypes• Established the overall QA/Alpha-testing strategy and recruitedtowards later milestone deployment dates to start uncovering bugs,loopholes, and edge cases• Landing pages, FAQs, Demo/Videos were developed at a laterstage based on progressIteration 3 Iteration 4 Iteration „n‟Agile (Scrum-based)Development22Agile = Co-location + fully dedicated resources +
If at first you don‟t succeed… look for the pivotSavings towardsgoalsSmall BusinessConsumersCustomerAttributesMore variety in use-casesProsumersLess variety in use-casesLower $ volumes andtransactionHigher $ volumes andtransactionsSimilarSimilarLower need for robustreporting, tracking, andformal messagingGreater need for robustreporting, tracking, andformal messagingSimilarLess inclined to pay forpremium featuresMore inclined to pay forpremium features/servicesSimilarCollecting gift $(self)Collectingtowards trip/eventAd hoc socialeventsPooling for groupgiftOngoing room-mate expensesCollecting team,club, group duesSimple IOU(Just-Pay-MeURL)Landlordcollecting tenantduesNon-profit raising$ / collecting duesMicro-biz billingservicesMicro-bizmerchant accountParent-childmoneymanagementIndividual raising$ for charitiesConsumerPlusConsumerProConsumerBasic23
Design for metrics with the „story‟ in mind What info do you needto tell the „best story‟? Measure often andearly, rethink featuresthat can‟t bemeasured Measurement is afeature, not anafterthought Keep it simple – if youcan‟t explain it quicklythen it‟s not useful24Simple• Easy to understandCredible• Accepted in theorganizationActionable• Provides apath forward
What would it look like if work stops now? Be Frugal Be frugal where youallocate the money;luxuries come later You‟re going to need abuffer, something alwaysgoes wrong If this was your last dollar,what would it look like ifyou had to launch now?25
Crafting your story is a journey, it requires constant (andsomewhat obsessive) iteration27 A story is better than a „pitch‟ inconsensus environments Components Why does the problem evenmatter? Why is the competition failingor what are they missing? Why is your solution differentor better (and for whom)? Can you really get this doneand for how much? Who benefits inside the org(aside from the customers)? Be your own devil‟s advocate –what‟s the story against yourstory?
Stay under the radar until you‟re ready for primetime Resist the temptationto surface with ahalf-baked story First impression canmake or break you;test with low-riskpeople Play the long game –be patient and resistany instant-gratification urge for 28
When you‟re ready, script your game-plan around youraudience‟s agenda Everyone is interested inthe same thing – WIIFM Make a list of influencersfor your roadshow –what‟s their agenda? It‟s a numbers game –build a coalition ofsupport (inside andoutside the org) 29Sources:johnlesko.biz
Know your role in the game in order to perfect themessage What‟s the biggerpicture and wheredoes your initiativefit? What are thepriorities for yourorganization? The ideal story =high upside + low 30