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1b customer discovery (problem hypothesis).2013.q2

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Part of 2013 Q2 Lean Launch Pad Presentations

0a-Introduction.2013.Q2.pptx
1a-Three_Types_Of_Startup.2013.Q2.pptx
1b-Customer Discovery (problem hypothesis).2013.Q2.pptx
2a-Customer Discovery ( canvas and story ).2013.Q2.pptx
2b-Value_Chain (team specific).2013.Q2.pptx
3a-Customer_Validation.2013.Q2.pptx
3b-GKG-CustomerRelationships.2013.Q2.pptx
4a-EndGame.2013.Q2.pptx

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1b customer discovery (problem hypothesis).2013.q2

  1. 1. GapingVoid-Business Is Socializing With Purpose 1
  2. 2. Customer Discovery – 1b Problem Hypothesis Iain Verigin 2
  3. 3. Customer Discovery Loop “Problem & Product” Phase 1 State Your Hypothesis - Problem - Product ( solution ) Phase 4 Synthesize, Verify, Prepare to Do it Again. Phase 2 Test Your “Problem” Hypothesis Phase 3 Test Your “Product” Hypothesis The Problem and Your Solution (the product) 3
  4. 4. Phase 2: Test & Qualify Problem Hypothesis • Actions – Get out of the building – Test the problem – Become the customer • Goal – Solve a real problem 4
  5. 5. Test & Qualify Problem Hypothesis • • • • • Friendly First Contacts “Problem” Presentation Customer Understanding Market Knowledge “Service Journey” 5
  6. 6. Test & Qualify Problem: First Contacts • Build a Rolodex – Build List of ~50 prospects – People who will talk to you. • Develop “Innovators” list – who “gets” new ideas • Create reference story/sales script – Assume 10% of your list will meet with you – Means lots of calls • ~ 10 phone calls per day per team member. • Schedule Customer Visits 6
  7. 7. More - First Contacts • Start Broad: Friends, Family, LinkedIn – Qualifying Questions – Referrals • Possible Users: Industry Veterans – Market Insights – Problem/Solution Feedback • Target Users: Early Adopters – Product Market Fit Insight – Customer Acquisition 7
  8. 8. Test & Qualify Problem: Create Problem Presentation • In the Meeting :Think: I want to listen. – How do I get the prospect to talk? – whiteboard, single sheet of paper, … napkin. (Powerpoint) • I’m not kidding. • Give “them” the pen. • ! Not a Sales Pitch ! – Test of your understanding of the customers problem – Problem/Solution – “One Pager” idea (page 204 Fig 5.4) • Problems • Today’s solution • Your solution column 1 column 2 column 3 – Capture other missing data 8
  9. 9. Test & Qualify Problem: Customer Understanding • Meeting Goals -? What do I need to learn from these meetings ? – – – – – – – Become a Domain Expert Understand their “Day-in-the Life” Understand their problems/pain Get a feel of how this impacts their life/work Who has similar products that solve this problem How do they learn about new solutions Can they be helpful later • :Think: I need to present the above to my company? 9
  10. 10. Test & Qualify Problem: Market Knowledge • Get a feel for the “lay of the land” • Adjacent Market players • Industry Influencers • Key Analysts • Attend Conferences /Tradeshows • Based on Initial visits expand your list to include the whole “Ecosystem” of the problem. • Begin “developing” an Ecosystem “sketch” 10
  11. 11. :Extra: “Service/Product” Journey • “Who Is Your Customer?” – :idea: Sketch Your Product and the People it “touches” through it’s usage. • Often it is difficult to determine who is your customer. The service journey gives you a “top level” insight. 11
  12. 12. :Extra: :Service Journey V0.1: 12
  13. 13. :Extra:
  14. 14. :Extra:
  15. 15. Customer Archetypes • A more detailed articulation of your customer. • Lots on this in the textbook. • This is not version 0.1 ( this is the goal) :Extra: 15
  16. 16. Prospects ? Who are you gonna talk to? Early Customers – – – – Budget “home brew solution” Actively looking Know they have problem – Have a Problem :Extra: 16
  17. 17. :Tricky: Review Time Does Our Product Idea … • That we didn’t talk about • Actually solve the problems that we’ve learned about in our first pass of talking to ( experimenting on) customers? • This is formal review time. – Do we need to re-Do our Product Idea or are we ready to “pitch it”?? 17
  18. 18. Test Problem Hypothesis: First Reality Check • Team Review – What did we learn? – What are we gonna do about it? – Make Decisions. – Take Action. • Fyi … this Review can turn into a “jihad” ;-) … be calm … this is how real learning happens. • Review Details – Build a Workflow Map of customer • Before and after your product – Problem scale – Key insights – How did the product spec match needs? – Re-review product feature List – Why are you different? Getting everyone on same page is not easy in practice. 18
  19. 19. END 19
  20. 20. Listening - Example Source: http://giffconstable.com/20
  21. 21. :Extra: Note: Product Context • You can’t talk product until you can “position it” as a solution to a problem. • In Customer Discovery you are still “searching” and “not selling” therefore your “Product” should be the minimum necessary to gain the information you need. This is called “Minimum Viable Product” (MVP) 21
  22. 22. Really Three Separate Steps 3. Develop/Sketch “Your Solution to the Problem” (Your Product ) 2. Develop/Sketch “The Problem” ( No Talking Product Yet!) 1. Develop/Sketch “Market Understanding” (What You Did Last Week) time (that never end) 22
  23. 23. In Summary 23
  24. 24. Customer Discovery Customer Discovery Customer Validation Customer Creation Scale Company • Stop selling, start listening – There are no facts inside your building, so get outside • Test your hypotheses – Two are fundamental: problem and product concept 24
  25. 25. Customer Discovery: Rules • Rule 1: Facts are outside the building, opinions are inside. • Rule 2: Solve a problem that customers say is important and valuable • Rule 3: Does the product concept solve that problem? 25
  26. 26. Customer Discovery: Exit Criteria • What are your customers top problems? – How much will they pay to solve them • Does your product concept solve them? – Do customers agree? – How much will they pay • Can you draw a day-in-the-life of a customer – before & after your product • Can you draw the org chart of users & buyers 26
  27. 27. Customer Dev’t Process Time Frames Customer Discovery Customer Validation Customer Creation Scale Company Existing Market: 1 Months - 1 Year Resegmenting a Market: 6 Months - 3 Years New Market: 1 - 3 Years 27

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