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Lean methodology for product development
The document is a practical guide on applying lean product development methodology, emphasizing the testing of assumptions to create products that meet market needs. It outlines the steps for designing hypotheses, conducting experiments, and measuring success through examples from the author's experience. The focus is on learning from user feedback to avoid investing in wrong products and improving communication with prospective clients.
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Lean methodology for product development
- 1. PRACTICAL GUIDE ON HOWTO APPLY THE LEAN METHODOLOGY FOR PD
- 2. Hello! I am Billy Iam a Product Manager at a game technology startup. You can find me at: @BilyanaVacheva https://productmanageronth ego.wordpress.com/
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- 5. Assume nothing! Testeverything and apply what you have learned to create a product your target market needs.
- 6. ➜ Investing timeand resources in a “wrong product / feature” ➜ Failing to identify a prospective market segment ➜ Communicating a weak message to prospective clients ➜Underprice / Overprice your product WRONG ASSUMPTIONS LEAD TO :
- 7. ➜Design a hypothesis ➜Comeup with an experiment which will help you prove/ disprove the hypothesis ➜Choose a metric for success ➜Conduct the experiment ➜Make conclusions ➜Change your product or business model HOW TO TEST YOUR ASSUMPTIONS?
- 8. EXAMPLE Based on myexperience as a PM
- 9. Problem I want tolearn what the needs and problems of teams working on mobile game UI are. How could I talk to them?
- 10. Hypothesis Hypothesis 1 I believethat if I reach mobile game developers via Linkedin, they will provide me with feedback. Hypothesis 2 I believe that if I reach mobile game developers via Email they will provide me with feedback.
- 11. Experiments Experiment 1 Get intouch with 10 people via Linkedin and ask them to share their experience. Experiment 2 Get in touch with 10 people via Email and ask them to share their experience.
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- 13. DESIGN A MEANINGFUL HYPOTHESIS AND AMEASURABLE EXPERIMENT
- 14. “I believe thattarget group X will do Y, within a specific time range”
- 15. FOCUS ON VALIDATINGHYPOTHESIS CRUCIAL FOR YOUR PRODUCT OR BUSINESS!
- 16. CHOOSE A MEASUREFOR SUCCESS
- 17. Thanks! Any questions? Get intouch: @BilyanaVacheva https://productmanageronthego.wo rdpress.com/