How can you make sure that when you DO build it, they WILL come? The truth is, you can't - but there's a lot you can do to greatly improve your odds. In this workshop, which I gave at the Harvard Innovation Lab, I walk you through a framework for identifying the right product to build for the right market. Includes case studies of what other startups have done and let's you try out techniques yourself to help you craft your own strategy for: - Finding a problem worth solving - Deeply understanding your customer - Finding a solution that resonates - Knowing what to launch

1. Discovering the Right
Product for your Startup
Abby Fichtner
@HackerChick
Harvard Innovation Lab

2. startup
your
@HackerChick
@Justin_Wilcox

3. startup
your
isn’t a
business
@HackerChick
@Justin_Wilcox

4. startup
your
isn’t a
business
it’s
@HackerChick
a hobby
@Justin_Wilcox

5. your startup
hobby
business
fun
obsession
cost lots $
@HackerChick
@Justin_Wilcox

6. your startup
hobby
business
fun
opportunity cost
obsession
$150K salary
cost lots $
@HackerChick
@Justin_Wilcox

7. your startup
hobby
business
fun
obsession profit $
cost lots $
@HackerChick
@Justin_Wilcox

8. @HackerChick

9. What’s your
idea
@HackerChick
?

10. idea
@HackerChick
Photo Credit: Poe Tatrum

11. Go!
On Your 3x5 Card:
• Your best startup idea
• Your worst startup idea
@HackerChick

12. Thinking ‘Bout Your
Startup
• Can I Build It?
• Can I Get People to Know About It?
• Can I Make Money From It?
@HackerChick

13. Thinking ‘Bout Your
Startup
• Can I Make Money From It?
• Can I Get People to Know About It?
• Can I Build It?
@HackerChick

14. Step 1, 2, 3…
1. Find a problem worth solving
2. Know your customer
3. Find a solution that resonates
4.
@HackerChick
Launch when you have a quantum of utility

15. @HackerChick

16. @HackerChick

17. COOL?
@HackerChick

18. Step #1
Find a
problem
worth solving
@HackerChick

19. We had an idea for a new product.
We went off & built it, put it on our website.
@HackerChick

20. We had an idea for a new product.
We went off & built it, put it on our website.
not a single person clicked thru
@HackerChick

21. We had an idea for a new product.
We went off & built it, put it on our website.
not a single person clicked thru
What did we learn
from that?
@HackerChick

22. We had an idea for a new product.
We went off & built it, put it on our website.
not a single person clicked thru
Was there a faster
way to learn that?
@HackerChick

23. @HackerChick

24. @HackerChick

25. Thinking ‘Bout Your
Startup
• Can I Make Money From It?
• Can I Get People to Know About It?
• Can I Build It?
@HackerChick

26. @HackerChick

27. @HackerChick

28. @HackerChick

29. @HackerChick

30. @HackerChick

31. @HackerChick

32. 75,000
signups overnight
@HackerChick

33. $10 MILLION
@HackerChick

34. 69,000
backers
@HackerChick

35. How do you get
people
to your
@HackerChick
site
?

36. Step #2
know your
customer
@HackerChick

37. vision

38. @HackerChick

39. VISION
@HackerChick
REALITY

40. team
market
product
@HackerChick

41. team
market
product
@HackerChick

42. @HackerChick

43. 10
@HackerChick
100

44. Start small
@HackerChick

45. Start small
@HackerChick

46. Brainstorm
Customer
anyone who cooks
@HackerChick
Problem
can’t find recipes

47. Brainstorm
Customer
anyone who cooks
@HackerChick
Problem
can’t find recipes

48. Brainstorm
Customer
anyone who cooks
Problem
can’t find recipes
need to lose weight
@HackerChick

49. Brainstorm
Customer
Problem
anyone who cooks
can’t find recipes
dieters?
need to lose weight
@HackerChick

50. Brainstorm
Customer
anyone who cooks
Problem
can’t find recipes
in college
dieters
^
@HackerChick
need to lose weight

51. Brainstorm
Customer
anyone who cooks
Problem
can’t find recipes
in college
dieters
need to lose weight
foodies
?
^
@HackerChick

52. @HackerChick

53. Go!
In Your Team:
• What problem are you solving?
• Who are you solving it for?
(who’s your customer)
@HackerChick

54. Customer
Interviews
@HackerChick
Photo Credit: Zimthiger (Flickr)

55. @HackerChick

56. What are the
Top 3 Problems?
@HackerChick

57. How are they solving those
problems today?
@HackerChick

58. Go!
In Your Team:
• What’s your customer interview
story?
(persona, problem scenario, what isn’t working)
• What are your Top 3 Problems?
@HackerChick

59. Thinking ‘Bout Your
Startup
• Can I Make Money From It?
• Can I Get People to Know About It?
• Can I Build It?
@HackerChick

60. Step #3
Find a
solution
that resonates
@HackerChick

61. Concierge Service
(AKA Wizard of Oz)
Boston Startup School - @HackerChick
@HackerChick
@HackerChick

62. @HackerChick

63. @HackerChick

64. Step 1, 2, 3…
1. Find a problem worth solving
2. Know your customer
3. Find a solution that resonates
4.
@HackerChick
Launch when you have a quantum of utility

65. Product/Market Fit
“In a great market – a market with lots of real
potential customers – the market pulls product
out of the startup.”
- Marc Andreessen
@HackerChick

66. Thinking ‘Bout Your
Startup
• Can I Make Money From It?
• Can I Get People to Know About It?
• Can I Build It?
@HackerChick

67. Step #4
launch!
when you have a
quantum of utility
@HackerChick
@paulg, Y Combinator

68. Go!
In Your Team:
• What solution do you think will resonate?
• What’s your initial product
(quantum of utility)?
@HackerChick

69. Share
• Your worst idea
• Your customer
• The problem you’re solving
• Your initial product
@HackerChick

70. Thanks!
Abby Fichtner
@HackerChick
http://HackerChick.com