A Practical Guide to Early Product Development (AccelerateAB 2014)

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A presentation for first-time startup entrepreneurs on how to approach the art of early stage product development. This was given at AccelerateAB 2014 in Edmonton, Alberta (www.accelerateab.com).

A Practical Guide to Early Product Development (AccelerateAB 2014)

  1. A PRACTICAL GUIDE TO EARLY
  2. PRODUCT DEVELOPMENT & STUFF
  3. + =
  4. Sell Online Sell In-Store Sell Anywhere
  5. ! ! ! 420+ Employees ! ! ! ! $122M Funding ! $3B+ in Sales Generated ! ! ! ! ! 100,000+ Active Stores ! ! ! ! 75M+ Products Sold !
  6. Disclaimers • There are no best ways, just better ways. • Practice is greater than theory. • It never stops changing.
  7. 1. Assess Business Potential 2. Build Business Value 3. Evaluate Priorities
  8. 1. Assess Business Potential ! ! 2. Build Business Value 3.
  9. ‘Startup’ A startup is a group in search for a 
 repeatable, scalable business model. 
 – Steve Blank
  10. ‘Business Model’ A business model is how something 
 makes, gives and gets value. 
 – Alexander Osterwalder
  11. ‘Value’ The value is what customers 
 are willing to pay for. 
 – Someone
  12. We have to assess if a startup’s business model
 will produce enough value for a customer
 to be willing to pay.
  13. Framework for Assessment • Iterative, flexible, & concise • Time machine of experiments • Team-wide or individually made
  14. A Common Language • Integrated, not isolated thinking • Discussion, not documentation • Dynamic, not static content
  15. Minimum… • Viable Product = Business • Feasible Product = Technology • Desirable Product = Customers
  16. MVDFP? MFDV? MDVFP? • Where is the most risk? • What are the user’s metrics? • What are you not doing right now?
  17. 2. Build Business Value 1. Assess Business Potential 3.
  18. ‘Startup’ A startup is a group in search for a 
 repeatable, scalable business model. 
 – Steve Blank
  19. ‘Business Model’ A business model is how something 
 makes, gives and gets value. 
 – Alexander Osterwalder
  20. ‘Value’ The value is what customers 
 are willing to pay for. 
 – Someone
  21. We have to assess if a startup’s business model
 will produce enough value for a customer
 to be willing to pay.
  22. Lean is… Small, cheap, cheerful, bootstrapped, software-based, agile development, for children…
  23. No.
  24. What? • Finding out where you are • Taking a small step towards your goal • Adjusting your understanding based on learning ! ! ! ! ! ! <Repeat>
  25. How? 1. Build a prototype 2. Run a customer interview or test 3. Move to the next riskiest assumption
  26. Efficiency • Choosing the right fidelity as you grow • Matching with the customer test • Picking an assumption
  27. 1. Assess Business Potential 2. Build Business Value 3. Evaluate Priorities
  28. Business I use the word business and product interchangeably. It’s better to try building a real business of your product.
  29. Strengths It’s good to know what you’re good at and what you’re not. Do what works for you, not just what is said to work.
  30. Team A cross-disciplinary team is a necessity to build product. Appoint owners if and where they don’t yet exist.
  31. Rhythm A repeatable product development process creates 
 a more complete understanding for the team.
  32. Tools The use of canvases and prototypes are only
 examples of tools that provide a common language.
  33. Failure It’s cool to be able to build a business this way, where the label of learning = failure and answers are optional.
  34. 1. Assess Business Potential 2. Build Business Value 3. Evaluate Priorities
  35. THANK YOU
  36. SATISH
 @SHOPIFY.COM @SKANWAR

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