A Practical Guide to Early Product Development (AccelerateAB 2014)
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This document provides guidance on early product development. It discusses assessing business potential by building an iterative framework to test assumptions through customer experiments. The next section covers building business value using lean principles to develop minimum viable products and get customer feedback through prototypes. The final section emphasizes evaluating priorities by focusing on strengths, appointing team owners, establishing repeatable processes, using common tools, embracing failure as learning, and building a real business rather than just a product. The overall message is that practical product development involves iterative customer testing to build value while continuously learning and improving.
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A Practical Guide to Early Product Development (AccelerateAB 2014)
- 5. + =
- 6. Sell Online Sell In-Store Sell Anywhere
- 7. ! ! ! 420+ Employees ! ! ! ! $122M Funding ! $3B+ in Sales Generated ! ! ! ! ! 100,000+ Active Stores ! ! ! ! 75M+ Products Sold !
- 11. Disclaimers • There are no best ways, just better ways. • Practice is greater than theory. • It never stops changing.
- 12. 1. Assess Business Potential 2. Build Business Value 3. Evaluate Priorities
- 13. 1. Assess Business Potential ! ! 2. Build Business Value 3.
- 14. ‘Startup’ A startup is a group in search for a repeatable, scalable business model. – Steve Blank
- 15. ‘Business Model’ A business model is how something makes, gives and gets value. – Alexander Osterwalder
- 16. ‘Value’ The value is what customers are willing to pay for. – Someone
- 17. We have to assess if a startup’s business model will produce enough value for a customer to be willing to pay.
- 19. Framework for Assessment • Iterative, flexible, & concise • Time machine of experiments • Team-wide or individually made
- 20. A Common Language • Integrated, not isolated thinking • Discussion, not documentation • Dynamic, not static content
- 21. Minimum… • Viable Product = Business • Feasible Product = Technology • Desirable Product = Customers
- 22. MVDFP? MFDV? MDVFP? • Where is the most risk? • What are the user’s metrics? • What are you not doing right now?
- 24. 2. Build Business Value 1. Assess Business Potential 3.
- 25. ‘Startup’ A startup is a group in search for a repeatable, scalable business model. – Steve Blank
- 26. ‘Business Model’ A business model is how something makes, gives and gets value. – Alexander Osterwalder
- 27. ‘Value’ The value is what customers are willing to pay for. – Someone
- 28. We have to assess if a startup’s business model will produce enough value for a customer to be willing to pay.
- 29. Lean is… Small, cheap, cheerful, bootstrapped, software-based, agile development, for children…
- 30. No.
- 32. What? • Finding out where you are • Taking a small step towards your goal • Adjusting your understanding based on learning ! ! ! ! ! ! <Repeat>
- 33. How? 1. Build a prototype 2. Run a customer interview or test 3. Move to the next riskiest assumption
- 34. Efficiency • Choosing the right fidelity as you grow • Matching with the customer test • Picking an assumption
- 45. 1. Assess Business Potential 2. Build Business Value 3. Evaluate Priorities
- 46. Business I use the word business and product interchangeably. It’s better to try building a real business of your product.
- 47. 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.
- 48. Team A cross-disciplinary team is a necessity to build product. Appoint owners if and where they don’t yet exist.
- 49. Rhythm A repeatable product development process creates a more complete understanding for the team.
- 50. Tools The use of canvases and prototypes are only examples of tools that provide a common language.
- 51. Failure It’s cool to be able to build a business this way, where the label of learning = failure and answers are optional.
- 52. 1. Assess Business Potential 2. Build Business Value 3. Evaluate Priorities
- 53. THANK YOU