How to think like a startup in a corporate environment
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Tools, methods and examples of how to apply "Startup Thinking" within a corporate environment. This will cover: • Understand what innovation really means, the different types of innovation and more importantly, why companies innovate? • Learn how to think more like an entrepreneur and view failure as a learning process • Learn how to identify and validate key assumptions • Understand how to turn a simple thought into something actionable by validated learning • To challenge the way they “do things” at work currently
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How to think like a startup in a corporate environment
- 1. Think like a Startup 17 December 2015
- 5. Teams: name your team and Colonel
- 7. …but first, a little context
- 10. Established business models are being chipped away by human- centered startups
- 11. Incumbents with well established value chains are slowly seeing… Source: http://www.fedex.com/us/ship/
- 12. …very aspect of it being chipped away Source: https://www.cbinsights.com/blog/startups-disrupting-fedex-ups/
- 14. “How can you think like a startup? And how can you become more entrepreneurial and challenge those assumptions?” Clayton Christensen
- 15. AssociatingAssociating NetworkingNetworking QuestioningQuestioning ObservingObserving ExperimentingExperimenting Innovation’s DNAInnovation’s DNA “How can you think like a startup? And how can you become more entrepreneurial and challenge those assumptions?” Clayton Christensen
- 17. Core message: startups... think differently about the problem they challenge assumptions and possess clear skills we all have
- 19. Where do we start?
- 20. 1. Determine your target customers (i.e. aim for extreme 5/8) 2. Identify underserved customer needs 3. Define your value proposition to address those needs 4. Specify your MVP "feature set" (the riskiest assumption) 5. Create your MVP (i.e. mockup/ smoke page/ prototype) 6. Create MVP 7. Rapid feedback (Test) the MVP with customers (i.e. extreme) Cheat sheet
- 21. Problem Solution canvas vs Business Model canvas Startup world VS Today’s world
- 22. CustomerCustomer Have Use Address Frame the problem correctly Get feedback from right customers Validate the solution and ensure problem/customer fit Value production (idea/solution) Value production (idea/solution) ProblemProblem Just guesses Assumptions
- 24. Summer campaign Footy finalsEaster Every year CCSP plans with assumptions…
- 25. Project Brief Strategy Development Strategy Summary Idea Development Connections Architecture Imp Brief Connections Plan & Execution Implementation Tracking & Cultivation Learning Summary Liquid & Linked Idea Brief Search & Re-apply Growth Potentials Brand Plan IMC Project Brief Post Program Analysis & Agency Evaluation Cultivate & Curate Liquid idea Evidence of Liquidity Creative Guidelines Connections Architecture Specialist Content Briefs Content & Connections Package Content & Local Connections Plan Deployed Strategy Idea Creation Development Implementation Production Implementation Execution Business Opportunity G1 G2 G3 G4G0 Wks b4 launch 17 0 -1335 33 28 2438 23 Typical Coke Communications process
- 28. Question: Do people want a drill or a hole?
- 30. 1. Do people want to a coffee or take a break from work? Define your problem… 2. Do people buy an aspirin or seek remove a headache? 3. Do people go to the gym to get fit or they want to put themselves in a situation to meet new people? 4. Do people want a pen or have the ability to communicate? Intentions vs. motivations
- 31. 1.Why is this a problem? Go through it step by step, draw out the processes? 1.Can the problem be described in a completely different way? 2.Who is the a problem for? (Go and ask them) 4. Who are the other stakeholders? How does each stakeholder view the problem (Go and ask them) 5. How do the stakeholders currently solve the problem? why did these fail? 6. What are the symptoms of the problem? What causes the problem to occur? Define your problem…
- 32. WORKOUT TIME: 5 MINS WORKOUT TIME: 5 MINS Reflect your problem solution canvas and review your problem 09:55am
- 33. 1.Why is this a problem? Go through it step by step, draw out the processes? 1.Can the problem be described in a completely different way? 2.Who is the a problem for? (Go and ask them) 4. Who are the other stakeholders? How does each stakeholder view the problem (Go and ask them) 5. How do the stakeholders currently solve the problem? why did these fail? 6. What are the symptoms of the problem? What causes the problem to occur? Define your problem…
- 34. WORKOUT TIME: 5 MINS WORKOUT TIME: 5 MINS Has your problem definition changed?
- 35. WORKOUT TIME: 15 MINS WORKOUT TIME: 15 MINS Consolidate into 1 “team” idea •1mins each person to pitch group •5mins to decide and create new canvas “A” (Colonel has final decision) 10:05am
- 36. How do we turn guesses (assumptions) into fact 36Classified – Confidential | Page 36 10:20am
- 37. How do we turn guesses into fact quickly & cheaply and validated our learning? 37Classified – Confidential | Page 37
- 38. Lean Startup 38 De-risk an idea via Classified – Confidential | Page 38
- 39. An iterative approach that advises creating small products (ie MVP) that test assumptions and using customer feedback - Eric Ries 39Classified – Confidential | Page 39
- 40. Minimum viable product Extreme users Validated learning Pivot
- 41. So, how to we actually do this? 41Classified – Confidential | Page 41
- 42. There are three key principles 42Classified – Confidential | Page 42
- 43. 43Classified – Confidential | Page 43 1. Document your idea
- 44. 1. Document your idea 44 2. Identify the riskiest parts Classified – Confidential | Page 44
- 45. 45 2. Identify the riskiest parts 3. Systematically test it. “Get out of the building” Classified – Confidential | Page 45 1. Document your idea
- 46. Process to help us identify & test assumptions Process to help us identify & test assumptions Page 46
- 47. Step 5 Test assumptions 10 mins Step 5 Test assumptions 10 mins Step 4 Design the experiment 10 mins Step 4 Design the experiment 10 mins Step 3 Select top 3 assumptions 10 mins Step 3 Select top 3 assumptions 10 mins Step 2 Prioritizing assumptions 10 mins Step 2 Prioritizing assumptions 10 mins Step 1 Identifying assumptions 20 mins Step 1 Identifying assumptions 20 mins
- 48. and these are the tools will we be using… Classified – Confidential | Page 48 Problem Solution canvas Value Proposition canvas Experiment Card
- 49. Page 49 Two areas to look that make or break your idea Product Solution Canvas Provides an overview of your ideaFITFIT …but need a way to unpack assumptions a way to give us more “granularity” in identifying assumptions Identifying assumptions Value Proposition Canvas
- 50. Page 50 What is a Value Proposition? A Value Proposition is a bundle of products & services that create value for your customer
- 51. Page 51 Finding Product Market Fit is when your assumptions are validated and you know what your designing and for who FITFIT ProblemSolution Product Market ObserveDesign CustomerValue proposition FITFIT
- 53. So how do we best observe customers?
- 54. The best results come from testing no more than 8 users and running as many small tests as you can afford. Elaborate tests are a waste of resources Source: http://www.nngroup.com/articles/why-you-only-need-to-test-with-5-users/
- 55. Extreme users Its about learning from “one” to apply to the “rest” Crossing the Chasm by Geoffrey Moore What can we learn from this “Extreme” group to… What can we learn from this “Extreme” group to… …inform our thinking for mass …inform our thinking for mass
- 56. What “tasks” is your customer doing/to be done? Think back to your customer journeys – what emotional or social needs arise (e.g. status, safety) What “tasks” is your customer doing/to be done? Think back to your customer journeys – what emotional or social needs arise (e.g. status, safety) What gains can be made? More choice, save time, more money, reduce learning curve, social power…) What gains can be made? More choice, save time, more money, reduce learning curve, social power…) What gains from are you providing (i.e. delight experience, its faster, its smarter etc.) What gains from are you providing (i.e. delight experience, its faster, its smarter etc.) Which feature of your solution will help with customer “tasks”? Describe your product/service feature sets… Which feature of your solution will help with customer “tasks”? Describe your product/service feature sets… How are you relieving pain?(e.g. provide time/cost saving, make life easier, increase status, better quality) How are you relieving pain?(e.g. provide time/cost saving, make life easier, increase status, better quality) What are the key pain points? (e.g. barriers, concerns, cost, time, frustrations, loss of face…) What are the key pain points? (e.g. barriers, concerns, cost, time, frustrations, loss of face…) Value Proposition Canvas Explained Classified – Confidential | Page 56
- 57. Source: http://www.slideshare.net/adrianholzer37/value-proposition-design Value Proposition Canvas example Page 57
- 58. Say we have an idea, and we create a… Page 58
- 59. CustomerCustomer Have Use Address Staying motivated and keeping track of training goals can be difficult Committed Female Runners • Real time “ongoing” access experts • Convenient, personalised “bite size’ advice through unlimited questions • Verified personal trainers NudgeFXNudgeFX ProblemProblem
- 60. Value Proposition Canvas: Define fitness goal Identify training program High cost of personal trainer Stay motivated Outsource self discipline Cheaper than physical personal trainer Pick the right personal trainer Get healthier Find personal trainer Help prevent injuries Validated choice of personal trainer Mobile platform that provides access to real experts in real time Idea: NudgeFX Customer: Committed Female Runners Convenien tpersonalis e “bite size’ advice Classified – Confidential | Page 60
- 61. Workout time! Identifying assumptions 20 mins Workout time! Identifying assumptions 20 mins Page 61 10:40am
- 62. Instructions “B” canvas & starting brainstorming assumptions Instructions “B” canvas & starting brainstorming assumptions Page 62
- 64. Value Proposition Canvas: Define fitness goal Identify training program High cost of personal trainer Stay motivated & reach goals Outsource self discipline Cheaper than physical personal trainer Pick the right personal trainer Get healthier Find personal trainer Help prevent injuries Validated choice of personal trainer Mobile platform that provides access to real experts in real time Idea: NudgeFX Customer: Committed Female Runners Convenien tpersonalis e “bite size’ advice Critical Nice to have Classified – Confidential | Page 64
- 65. Workout time! Prioritizing assumptions 10 mins Workout time! Prioritizing assumptions 10 mins Page 65 11:05am
- 66. Instructions Move the assumptions around from “Critical” and “Nice to Have” Instructions Move the assumptions around from “Critical” and “Nice to Have” Page 66
- 67. Next Select top 3 assumptions Next Select top 3 assumptions Page 67
- 68. High cost of personal trainer Stay motivated & reach goals Mobile Platform that provides to access real experts in real time Assumption Test with… experiment/ MVP ..on customer Validated if.. Mobile Platform that provides access to real experts in real time Stay motivated & reach goals High cost of personal trainer Now lets move the top 3 assumptions and design our validation method Classified – Confidential | Page 68
- 69. Workout time! Select top 3 assumptions 10 mins Workout time! Select top 3 assumptions 10 mins Page 69 11:20am
- 70. Instructions Select the top 3 “Critical” and add to Experiment card “C” Instructions Select the top 3 “Critical” and add to Experiment card “C” Page 70
- 72. Value Proposition Canvas top 3 assumptions are… Idea: NudgeFX Customer: Committed Female Runners Classified – Confidential | Page 72 Assumption Test with… experiment/ MVP ..on customer Validated if… (and why?) Mobile Platform that provides access to real experts in real time Stay motivated & reach goals High cost of personal trainer
- 73. Value Proposition Canvas top 3 assumptions are… Idea: NudgeFX Customer: Committed Female Runners Classified – Confidential | Page 73 Assumption Test with… experiment/ MVP ..on customer Validated if… (and why?) Mobile Platform that provides access to real experts in real time Smoke Test site explains the value proposition Staff wanting to get fit Stay motivated & reach goals High cost of personal trainer
- 74. Value Proposition Canvas top 3 assumptions are… Idea: NudgeFX Customer: Committed Female Runners Classified – Confidential | Page 74 Assumption Test with… experiment/ MVP ..on customer Validated if… (and why?) Mobile Platform that provides access to real experts in real time Smoke Test site explains the value proposition Staff wanting to get fit 1. At least 8 people of 15 emailed register (Quantitative) 2. Positive facial expressions, gut reactions, and body language (Qualitative) Stay motivated & reach goals High cost of personal trainer ✓
- 75. Value Proposition Canvas top 3 assumptions are… Idea: NudgeFX Customer: Committed Female Runners Classified – Confidential | Page 75 Assumption Test with… experiment/ MVP ..on customer Validated if… (and why?) Mobile Platform that provides access to real experts in real time Smoke Test site explains the value proposition Staff wanting to get fit 1. At least 8 people of 15 emailed register (Quantitative) 2. Positive facial expressions, gut reactions, and body language (Qualitative) Stay motivated & reach goals WhatsApp app + real personal trainer People training for Sydney ½ marathon 1. At least 5 of 8 stay and completed there training goals (Quantitative) 2. Received unsolicited positive feedback (Qualitative) High cost of personal trainer ✓ ✓
- 76. Value Proposition Canvas top 3 assumptions are… Idea: NudgeFX Customer: Committed Female Runners Classified – Confidential | Page 76 ✓ ✓ ✓ Assumption Test with… experiment/ MVP ..on customer Validated if… (and why?) Mobile Platform that provides access to real experts in real time Smoke Test site explains the value proposition Staff wanting to get fit 1. At least 8 people of 15 emailed register (Quantitative) 2. Positive facial expressions, gut reactions, and body language (Qualitative) Stay motivated & reach goals WhatsApp app + real personal trainer People training for Sydney ½ marathon 1. At least 5 of 8 stay and completed there training goals (Quantitative) 2. Received unsolicited positive feedback (Qualitative) High cost of personal trainer Sign up site with $39 per month subscription Sydney Harbour Runners 1. At least 10 of 20 register for app and program (Quantitative) 2. Received positive feedback (Qualitative)
- 77. Minimal Viable Product/Offer/Proposition… is the most important “feature set” (assumptions) of your value proposition you can do/make to address most important pain point of your segment that you can learning from We use MVP to help test and validate our assumptions Classified – Confidential | Page 77 11:40am
- 78. How do you pick the right MVP? What do you need to do arrive to validated learning? Classified – Confidential | Page 78
- 79. Minimum Viable Product (MVP) Quick Classified – Confidential | Page 79
- 80. Minimum Viable Product (MVP) Cheap Classified – Confidential | Page 80
- 81. Minimum Viable Product (MVP) Minimal Classified – Confidential | Page 81
- 82. Minimum Viable Product (MVP) Testable Classified – Confidential | Page 82
- 83. Minimum Viable Product (MVP) Measurable Classified – Confidential | Page 83
- 84. Minimum Viable Product (MVP) Don't sell the idea, test it Classified – Confidential | Page 84
- 85. Best method to validate assumptions using your MVP Problem Solution ImplementationsMethod Contextual enquires Sketch Smoke test/Landing page Mockups/Wireframe Concierge Prototype Wizard of Oz ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ A/B “split” Testing ✓ ✓ ✓ Explorativetoaffirmative Classified – Confidential | Page 85
- 105. Sign up first customer by describing benefits of service plus subscription fee Provide recipe service personally (concierge it!) Learn customer needs in detail and automated later what worked and need.
- 106. Founded in 2009, raised $2.25M in 1 Round, Acquired by Food Network on April 20, 2014
- 109. So back to our NudgeFX idea and validating our top 3 assumptions Classified – Confidential | Page 109 Idea Problem Solution canvas Value Proposition canvas Experiment Card 11:50am
- 110. Assumption Test with… experiment/ MVP ..on customer Validated if… (and why?) Mobile Platform that provides access to real experts in real time Smoke Test site explains the value proposition Staff wanting to get fit 1. At least 8 people of 15 emailed register (Quantitative) 2. Positive facial expressions, gut reactions, and body language (Qualitative) Stay motivated & reach goals WhatsApp app + real personal trainer People training for Sydney ½ marathon 1. At least 5 of 8 stay and completed there training goals (Quantitative) 2. Received unsolicited positive feedback (Qualitative) High cost of personal trainer Sign up site with $39 per month subscription Sydney Harbour Runners 1. At least 10 of 20 register for app and program (Quantitative) 2. Received positive feedback (Qualitative) These are the experiments and MVP we will be using… Validated LearningValidated Learning Classified – Confidential | Page 110 Pivot Or Preserve Did you find your MUST HAVE solution? Did you find your EARLY ADOPTERS? What new INSIGHT you learnt? Pivot Or Preserve Did you find your MUST HAVE solution? Did you find your EARLY ADOPTERS? What new INSIGHT you learnt?
- 111. Our real example Our real example Classified – Confidential | Page 111
- 112. $25 domain + $140 webhosting = $165 (via strikingly.com) created in 45mins Riskiest assumption: Mobile platform that provides access to real experts in real time Experiment/MVP: Site explains the value proposition Experiment/MVP: Site explains the value proposition Customer: Staff wanting to get fit Customer: Staff wanting to get fit Assumption: Mobile platform that provides to access real experts in real time Assumption: Mobile platform that provides to access real experts in real time Page 112 Experiment #1
- 113. $0 WhatsApp + $2,200 personal trainer = $2,200 (via WhatsApp) created in 2mins, ran for 6 weeks Riskiest assumption: Stay motivated & reach goals Experiment/MVP: WhatsApp app + real personal trainer Experiment/MVP: WhatsApp app + real personal trainer Customer: People training for Sydney ½ marathon Customer: People training for Sydney ½ marathon Assumption: Stay motivated & reach goals Assumption: Stay motivated & reach goals Page 113 Experiment #2
- 114. Riskiest assumption: High cost of personal trainer Page 114 Assumption: High cost of personal trainer Assumption: High cost of personal trainer Experiment/MVP Sign up site with $39 per month subscription Experiment/MVP Sign up site with $39 per month subscription Customer Sydney Harbour Runners Customer Sydney Harbour Runners Experiment #3 $100 Website + $2,650 mockup app + $2,200 p/t = $4,950 Created in 60mins, running over 6 weeks
- 115. Workout time! Design your experiment 10 mins Workout time! Design your experiment 10 mins 115Classified – Confidential | Page 115 12:00pm
- 116. Instructions Add MVP and Customer to Experiment Card Instructions Add MVP and Customer to Experiment Card 116Classified – Confidential | Page 116
- 117. Best method to validate assumptions using your MVP Problem Solution ImplementationsMethod Contextual enquires Sketch Smoke test/Landing page Mockups/Wireframe Concierge Prototype Wizard of Oz ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ A/B “split” Testing ✓ ✓ ✓ Explorativetoaffirmative Classified – Confidential | Page 117
- 119. Workout time! Testing assumptions 10 mins Workout time! Testing assumptions 10 mins 119Classified – Confidential | Page 119
- 120. Instructions Find another team and test 1 top assumption Instructions Find another team and test 1 top assumption 120Classified – Confidential | Page 120
- 121. 121 So you have a great idea? Classified – Confidential | Page 121
- 122. 122 Prove it! Classified – Confidential | Page 122
- 123. Napkin pitch – example… 1. Introduce the idea 20 seconds 2. What's top 3 assumptions & how you tested it? 60 seconds 1. What you have learnt? 100 seconds Total 180 seconds = 3 minutes Pitch (3 ideas x 3 mins) Total = 10 mins Classified – Confidential | Page 123 12:20pm
- 124. Let the games begin! http://www.online-stopwatch.com/eggtimer-countdown/full-screen/ Classified – Confidential | Page 124
- 125. Reading options URL: http://hbr.org/2013/05/why-the-lean-start-up-changes-everything/ar/pr Classified – Confidential | Page 125
- 126. CustomerCustomer Have Use Address Your name: ____________ __________ (Idea name) __________ (Idea name) ProblemProblem PROBLEMSOLUTIONCANVASTEMPLATE What is the problem you are trying to solve? Why it is important? Be specific and concise Who has this problem? Be specific and concise What is your idea? What are the critical value proposition features? Be specific and concise Prepare by Red Garage Ventures – commercial in confidence
- 127. CustomerCustomer Have Use Address Your name: ____________ Value production (idea/solution) Value production (idea/solution) ProblemProblem PROBLEMSOLUTIONCANVASCHEATSHEET What is the problem you are trying to solve? Why it is important? Write it here. Be specific and concise Who has this problem? Who is the early adopter or “extreme user” Write it here. Be specific and concise What is your idea? What are the critical value proposition features? Write it here. Be specific and concise Prepare by Red Garage Ventures – commercial in confidence
- 128. Visit the “Smoke test” website http://nudgefxme.strikingly.com/Visit the “Smoke test” website http://nudgefxme.strikingly.com/ What is the problem you trying to solve? Why it is important? Be specific and concise What is the problem you trying to solve? Why it is important? Be specific and concise Who has this problem? Be specific and concise Who has this problem? Be specific and concise What is your idea? What your critical value proposition features Be specific and concise What is your idea? What your critical value proposition features Be specific and concise Your name: Franki PROBLEMSOLUTIONCANVASEXAMPLE ExampleExample Prepare by Red Garage Ventures – commercial in confidence
- 129. CustomerCustomer Have Use Address Your name: ____________ __________ (Idea name) __________ (Idea name) ProblemProblem What is the problem you are trying to solve? Why it is important? Be specific and concise Who has this problem? Be specific and concise What is your idea? What are the critical value proposition features? Be specific and concise Prepare by Red Garage Ventures – commercial in confidence AA
- 130. Prepare by Red Garage Ventures – commercial in confidence BB
- 131. Assumption Test with… experiment/ MVP ..on customer Validated if.. EXPERIMENTCARDTEMPLATE Prepare by Red Garage Ventures – commercial in confidence CC
Editor's Notes
- It’s great to be here. I remember when I first got the invite from Victoria, I jumped at the invitation because I love the idea of looking across other industries for ways to drive growth. Quick test: Who is in the audience? Startups? Investors? Corporations? “Coke wondered if there was a way to “co-create” with startup founders from the very beginning, and to change the dance that happens when a large company starts to negotiate with a startup. All startups are focused on scale so they are very attracted to our global reach and access to global markets. On the other side, companies like Coke agility. Typically you have the situation of ‘Can you customize your product to help us do XYZ?’ And they say, ‘Well, we can’t do that, but we can do this.’ So Coke wondered if they could go all the way back to the beginning—before the startup, before the business plan, before the product, even before the idea. They didn’t want to create an accelerator or incubator. They wanted to find a way to truly partner and co-create with proven “rock star” founders. Coke would bring huge assets and global reach – and huge opportunities.” Lets explore the idea of “Coke’s Formula for co-creating with startups.”
- Today
- Today is about provide simple set of tools for you to think/behavior like a startup to each element of your role. We are going to cover off things like What are the assumptions you use? Challenge those assumptions being used What is the startup way to challenge and validate those assumptions What are startups and why they are good at challenging assumptions? What tools or framework do they use to validate assumptions What are the skills do startup have? And what elements of startup thinking we can use to bring into our work – specifically looking at assumptions Give you a set of skills and tools that you can use.
- Jack Dorsey is an American programmer and businessman widely known as a co-founder and CEO of Twitter, and as the founder and CEO of Square, a mobile payments compan Valuation$6.0B Mobile payments called “Square” HeadquartersSan Francisco Founded2009 The original inspiration for Square occurred to Jack Dorsey in 2008 when Jim McKelvey (a St. Louis friend of Dorsey at the time) was unable to complete a $2,000 sale of his glass faucets and fittings because he could not accept credit cards.[4]
- …they do this be refames the problem they are trying to solve, challenge assumptions (by testing them) and finding new product/market fit.
- Clayton Christensen explored this same question in this best seller book: The Innovator's DNA: Mastering the Five Skills of Disruptive Innovators He did something interesting he went out and observed , questioned, associated things and network with the world’s best innovators—from leaders at Amazon and Apple to those at Google, Skype, and Virgin to identifying any patterns. You know what he found out? He came across 5 simply behaviours that each had. Question is what of this list should you be doing more? What are you not doing but should be doing.
- Clayton Christensen explored this same question in this best seller book: The Innovator's DNA: Mastering the Five Skills of Disruptive Innovators He did something interesting he went out and observed , questioned, associated things and network with the world’s best innovators—from leaders at Amazon and Apple to those at Google, Skype, and Virgin to identifying any patterns. You know what he found out? He came across 5 simply behaviours that each had. Question is what of this list should you be doing more? What are you not doing but should be doing.
- There is a belief our creative to agencies and look at the calendar: Summer campaign Footy finals Easter Meals (across the year) CCSP writes a brief for agency. Into the brief there will be assumption. Some validated from previous research or market visits, teens, mums etc. These assumptions are carried through after years of building up insights of the market and customers of the past. these assumptions go into the brief and the agency comes back with a response - such as a Communication Idea. So we are feeding in a lot of assumptions in your engage with agencies resulting potential suboptimal Communication Idea. Only a half of assumptions are really validated. Is there a way to really validate our business and customer assumptions? But does the past reflect today or tomorrow? How much as our socioeconomic and demographic composition changed over year 10, 5, 1 or 6 months? We will cover some of these today.
- There is a belief our creative to agencies and look at the calendar: Summer campaign Footy finals Easterand Meals (across the year) CCSP writes a brief for agency. Into the brief there will be assumption. Some validated from previous research or market visits, teens, mums etc. These assumptions are carried through after years of building up and become simply as “insights” of the market and customers . These same assumptions than go into the brief and the agency comes back with a response - such as a Communication Idea. But what if some of our assumptions are just wrong? Not valid or reverent? How does it impact our briefing and quality responses from agencies? Lets think about this…does the past ALWAYS reflect today or tomorrow? How much as our socioeconomic and demographic composition changed over year 10, 5, 1 or 6 months? …these assumptions are from a “bygone” era reflecting the past - these may or may not be true - these may be validated or not. So there maybe a chance that we are feeding invalidate or irreverent and outdated assumptions into our brief to agencies which can lead to suboptimal creative/communication idea. Is there a way to really validate our business and customer assumptions? Tell me…. what customer or business assumptions do we use that are just dumb?
- It is a systematic way to DERISK a business idea through validated learning with an early adopter segment
- You first observe the tasks, gains and pains of your customer, specifically Extreme users From here you can design your product to address the customer problem, which then you have Product/Solution Fit and If the market believes in your idea (and your identified and validated the right assumptions), and you get “traction”, this leads to Product/Market Fit
- Five 1-on-1 interviews combining broad discovery questions with task-based evaluation of a prototype. 1-on-1 interviews (in person or remotely) are the best-bang-for-your-buck type of qualitative research. You’ll learn from facial expressions, gut reactions, and body language. You can ask follow-up questions and follow interesting tangents. Why five? It’s easy to spot patterns, and you can do five 60-minute interviews in one day. (Plus, Jakob Nielsen approves.) We’ll help you write an interview guide that keeps you on track during the interviews.
- Marketing to this mainstream market demands fundamentally different marketing strategy and product development. While this is often used in technology companies as framework, I think this how you should see the journey of your marketing planning. Validated learning to win the mainstream market. Steps: Define (ie persona) and identify early adopters, what I call the “Extreme user”. Its much more cost-effective to interview these than 10 typical customers because they use your product more likely, have the pain the most and you want to learn they solve their pains, how they research, what sources they use to learn, how their describe the pain, the benefits? Engage that community and “secure a beachhead” - this will include a continued dialogue (i.e. first product review, first product taste, exclusive club etc) Build a community to promote to the majority (i.e. Sydney Harbour Runners, top bloggers)
- You can create multiple versions fast and iterate even faster!
- You wouldn't mind throwing it away and starting all over again
- Contains only the core feature set
- You can put it in front of people and have them “try it” out
- You can get the numbers behind what's working and what's not.
- You can get the numbers behind what's working and what's not.
- “Wizard of Oz” - MVP is when you put up a front that looks like a real working product, but you manually carry out product functions. It’s also known as “Flinstoning”. #4 Concierge MVP Concierge - Instead of providing a product, you start with a manual service. The service should consist of exactly the same steps people would go through with your product.
- In a Wizard of Oz test, the user experience is a complete simulation of the actual intended product, but with a slight time delay since a human cannot react as fast as a computer. The delivered value proposition is almost identical but slightly under performing. In a Concierge test, the value proposition is actually significantly higher than the eventual product. That’s because the customer is aware and is interacting with a real human being.
- In a Wizard of Oz test, the user experience is a complete simulation of the actual intended product, but with a slight time delay since a human cannot react as fast as a computer. The delivered value proposition is almost identical but slightly under performing. In a Concierge test, the value proposition is actually significantly higher than the eventual product. That’s because the customer is aware and is interacting with a real human being.
- In a Concierge test, the value proposition is actually significantly higher than the eventual product. That’s because the customer is aware and is interacting with a real human being.
- In a Concierge test, the value proposition is actually significantly higher than the eventual product. That’s because the customer is aware and is interacting with a real human being.
- Say we have an idea, how can we quickly test it We emailed to people at work to see any interest. There was a “form” to express if they want to take on the offer with “discount code”
- Not only did we validated this assumptions, we started to develop “best practice” text techniques (i.e. External triggers, Personal events (i.e. going on holidays - where most fail to meet their goals), Positive reinforcement, links and articles sharing) and tools (i.e. onboarding guide)
- “Wizard of Oz” - MVP is when you put up a front that looks like a real working product, but you manually carry out product functions. It’s also known as “Flinstoning”. #4 Concierge MVP Concierge - Instead of providing a product, you start with a manual service. The service should consist of exactly the same steps people would go through with your product.
- Positive results means we can go forward, else we need to quickly refine (pivot) or abandon the test.
- Positive results means we can go forward, else we need to quickly refine (pivot) or abandon the test.