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The Lean Product Playbook with Dan Olsen

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The Lean Product Playbook with Dan Olsen

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The Lean Product Playbook provides specific, step-by-step guidance on how to apply Lean Startup ideas. In his talk, Dan describes an actionable model for product-market fit and a 6-step process that explains how to rapidly iterate based on customer feedback, illustrated with real world examples.

Key takeaways:
• Lean Startup principles.
• The Lean Product Process: a methodology for achieving product-market fit.

The Lean Product Playbook provides specific, step-by-step guidance on how to apply Lean Startup ideas. In his talk, Dan describes an actionable model for product-market fit and a 6-step process that explains how to rapidly iterate based on customer feedback, illustrated with real world examples.

Key takeaways:
• Lean Startup principles.
• The Lean Product Process: a methodology for achieving product-market fit.

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The Lean Product Playbook with Dan Olsen

  1. 1. www.productschool.com The Lean Product Playbook with Author Dan Olsen
  2. 2. FREE INVITE Join 23,000+ Product Managers on
  3. 3. COURSES Product Management Learn the skills you need to land a product manager job
  4. 4. COURSES Coding for Managers Build a website and gain the technical knowledge to lead software engineers
  5. 5. COURSES Data Analytics for Managers Learn the skills to understand web analytics, SQL and machine learning concepts
  6. 6. COURSES Digital Marketing for Managers Learn how to acquire more users and convert them into clients
  7. 7. COURSES Blockchain for Managers Learn how to trade cryptocurrencies and build products using the blockchain
  8. 8. Dan Olsen TONIGHT’S SPEAKER
  9. 9. A Playbook For Achieving Product- Market Fit DAN OLSEN
  10. 10. Product Manager’s motto: Spiderman’s motto: “With great power comes great responsibility” “With great responsibility comes NO power” Copyright © 2018 @danolsen
  11. 11. Product-Market Fit
  12. 12. That’s Why I Wrote ■ Book giveaway on Twitter ■ Tweet: include @danolsen ■ Hashtags #leanstartup #prodmgmt #productcon Copyright © 2018 @danolsen
  13. 13. The Product-Market Fit Pyramid
  14. 14. The Lean Product Process I’m going to cover these 3 steps
  15. 15. The Lean Product Process 1. Determine your target customer 2. Identify underserved customer needs 3. Define your value proposition 4. Specify your MVP feature set 5. Create your MVP prototype 6. Test your MVP with customers Copyright © 2018 @danolsen
  16. 16. Transportation within 100 miles of my home Soccer Mom Speed Demon Carry kids & gear Safety Fuel economy Go fast Looks cool Makes me look cool Target Customer Has Distinct Needs High-level need Target Customer Detailed needs Ideal Product Soccer Mom Speed Demon
  17. 17. The Lean Product Process 1. Determine your target customer 2. Identify underserved customer needs 3. Define your value proposition 4. Specify your MVP feature set 5. Create your MVP prototype 6. Test your MVP with customers Copyright © 2018 @danolsen
  18. 18. Russians: pencil Space pen: $1 M R&D cost Example ■ Ability to write in space (zero gravity) Problem Space vs. Solution Space Problem Space ■ A customer problem, need or benefit that the product should address ■ A product requirement Solution Space ■ A specific implementation to address the customer need or requirement Copyright © 2018 @danolsen
  19. 19. Problem vs. Solution Space: Product Level Problem Space (user benefits) Solution Space (product) TurboTax TaxCut Pen and paper Prepare my taxes Copyright © 2018 @danolsen
  20. 20. Problem vs. Solution Space: Product Level Problem Space (user benefits) Solution Space (product) Prepare my taxes File my taxes Check my taxes Maximize my deductions Reduce my audit risk Copyright © 2018 @danolsen
  21. 21. Prioritizing Needs: Importance vs. SatisfactionImportanceofUserNeed User Satisfaction with Current Alternatives Competitive Market Low High Low High Not Worth Going After Copyright © 2018 @danolsen
  22. 22. Prioritizing Needs: Importance vs. SatisfactionImportanceofUserNeed User Satisfaction with Current Alternatives Low High Low High Copyright © 2018 @danolsen
  23. 23. Prioritizing Needs: Importance vs. SatisfactionImportanceofUserNeed User Satisfaction with Current Alternatives Competitive Market Low High Low High Not Worth Going After Copyright © 2018 @danolsen
  24. 24. Prioritizing Needs: Importance vs. SatisfactionImportanceofUserNeed User Satisfaction with Current Alternatives Competitive Market Opportunity Low High Low High Not Worth Going After Copyright © 2018 @danolsen
  25. 25. Prioritizing Needs: Importance vs. SatisfactionImportanceofUserNeed User Satisfaction with Current Alternatives Low High Low High Copyright © 2018 @danolsen
  26. 26. Users Rated 13 Key Features in a Survey Recommended reading: “What Customers Want” by Anthony Ulwick Great Copyright © 2018 @danolsen Bad
  27. 27. The Lean Product Process 1. Determine your target customer 2. Identify underserved customer needs 3. Define your value proposition 4. Specify your MVP feature set 5. Create your MVP prototype 6. Test your MVP with customers Copyright © 2018 @danolsen
  28. 28. Kano Model: User Needs & Satisfaction Need not met Need fully met Copyright © 2018 @danolsen
  29. 29. Kano Model: User Needs & Satisfaction User Satisfaction User Dissatisfaction Need not met Need fully met Copyright © 2018 @danolsen
  30. 30. Kano Model: User Needs & Satisfaction User Satisfaction User Dissatisfaction Performance (more is better) Delighter (wow) Need not met Need fully met Must Have Copyright © 2018 @danolsen
  31. 31. Kano Model: User Needs & Satisfaction User Satisfaction User Dissatisfaction Performance (more is better) Delighter (wow) Need not met Need fully met Must Have Needs & features migrate over time Copyright © 2018 @danolsen
  32. 32. What is Your Value Proposition? ■ Which user benefits are you providing? ■ How are you better than competitors? Must Have Benefit 1 Performance Benefit 1 Performance Benefit 2 Performance Benefit 3 Delighter Benefit 1 Delighter Benefit 2 Copyright © 2018 @danolsen
  33. 33. What is Your Value Proposition? ■ Which user benefits are you providing? ■ How are you better than competitors? Competitor A Competitor B You Must Have Benefit 1 Performance Benefit 1 Performance Benefit 2 Performance Benefit 3 Delighter Benefit 1 Delighter Benefit 2 Copyright © 2018 @danolsen
  34. 34. What is Your Value Proposition? ■ Which user benefits are you providing? ■ How are you better than competitors? Competitor A Competitor B You Must Have Benefit 1 Y Y Performance Benefit 1 High Low Performance Benefit 2 Low High Performance Benefit 3 Med Med Delighter Benefit 1 Y - Delighter Benefit 2 - - Copyright © 2018 @danolsen
  35. 35. What is Your Value Proposition? ■ Which user benefits are you providing? ■ How are you better than competitors? Competitor A Competitor B You Must Have Benefit 1 Y Y Y Performance Benefit 1 High Low Med Performance Benefit 2 Low High Low Performance Benefit 3 Med Med High Delighter Benefit 1 Y - - Delighter Benefit 2 - - Y Copyright © 2018 @danolsen
  36. 36. What were Instagram’s Unique Differentiators?
  37. 37. Instagram Value Prop Other Photo Sharing Apps Instagram Must Haves Let me share my photos Y Y Performance benefits Post my photos quickly Low High Delighters Make my photos look good (filters, square aspect ratio) N Y Copyright © 2018 @danolsen
  38. 38. Who are Uber’s competitors?
  39. 39. What customer problems or benefits does Uber call out?
  40. 40. Uber’s Value Prop Copyright © 2018 @danolsen Customer Benefit Performance benefits Let me quickly get a ride (faster) Save me money (cheaper) Give me a nice experience (nicer) Make me feel safe (safer)
  41. 41. Uber’s Value Prop Copyright © 2018 @danolsen Customer Benefit Taxis Car Services Uber Performance benefits Let me quickly get a ride (faster) Save me money (cheaper) Give me a nice experience (nicer) Make me feel safe (safer)
  42. 42. Uber’s Value Prop Copyright © 2018 @danolsen Customer Benefit Taxis Car Services Uber Performance benefits Let me quickly get a ride (faster) Med Low Save me money (cheaper) High Low Give me a nice experience (nicer) Low High Make me feel safe (safer) Low-Med High
  43. 43. Uber’s Value Prop Copyright © 2018 @danolsen Customer Benefit Taxis Car Services Uber Performance benefits Let me quickly get a ride (faster) Med Low Save me money (cheaper) High Low Give me a nice experience (nicer) Low High Make me feel safe (safer) Low-Med High
  44. 44. Uber’s Value Prop Copyright © 2018 @danolsen Customer Benefit Taxis Car Services Uber Performance benefits Let me quickly get a ride (faster) Med Low High Save me money (cheaper) High Low Med Give me a nice experience (nicer) Low High High Make me feel safe (safer) Low-Med High High
  45. 45. Uber’s Value Prop Customer Benefit Taxis Car Services Uber Must Haves Take me where I want to go Y Y Y Performance benefits Let me quickly get a ride (faster) Med Low High Save me money (cheaper) High Low Med Give me a nice experience (nicer) Low High High Make me feel safe (safer) Low-Med High High Delighters I can book without having to call N N Y I can see where the car is N N Y
  46. 46. Summary ■ Peel the onion to: ■ Determine your target customer ■ Identify their customer needs ■ Define the problem space ■ Identify underserved needs by using importance and satisfaction ■ Define your value proposition using the Kano Model Copyright © 2018 @danolsen
  47. 47. Kintan Brahmbhatt, Director of Product, Amazon Thu Mar 22nd at Intuit, Mountain View How Amazon Builds Products with Customer
  48. 48. Product Management Consulting I’ve been helping tech companies for 9 years at VP/CPO level I’ve expanded my PM consulting team: ■ Senior PM level ■ Director of PM level ■ Senior Director of PM Questions? @danolsen dan-olsen.com meetup.com/lean-product I’ll ping winners on Twitter Happy to connect LinkedIn Copyright © 2018 @danolsen
  49. 49. www.productschool.com Part-time Product Management, Coding, Data, Digital Marketing and Blockchain courses in San Francisco, Silicon Valley, New York, Santa Monica, Los Angeles, Austin, Boston, Boulder, Chicago, Denver, Orange County, Seattle, Bellevue, Toronto, London and Online

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