SlideShare a Scribd company logo
1 of 22
Download to read offline
Validation and Product-Market Fit
(How Product Management
Increases Your Startup’s
Odds of Survival)
Rich Mironov
Callaghan Innovation
Auckland, 28 Aug 2018
1. We all resist doing market validation
2. Selling isn’t learning
3. Get (or try to be) a product manager
Agenda
www.Mironov.com
Goal: scalable business that
addresses real (recognized)
needs of large audience in a
novel way. Profitably.
www.Mironov.com
1. I’ve discovered a new need.
2. My idea is unique/correct/valuable.
3. I’m the expert. I know the answer.
4. Solution focus (before problem validation)
5. “Talking to customers” means telling and selling
Five Fundamental Mistakes
Almost All Founders Make
www.Mironov.com
• Business accounting… Sumeria, 7500 BC
• Mobile computing… specs: Alan Kay, 1968. Touch
screen: GridPad, 1989. MP3: MPMan, 1998.
• Real-time multiplayer online game… Habitat, 1985
• Online grocery ordering/delivery… Webvan, 1996
• Business accounting… Sumeria, 7500 BC
• Mobile computing… specs: Alan Kay, 1968. Touch
screen: GridPad, 1989. MP3: MPMan, 1998.
• Real-time multiplayer online game… Habitat, 1985
• Online grocery ordering/delivery… Webvan, 1996
Brand New Ideas?
www.Mironov.com
Venture Capital (Funded Ideas)
$37B
$47B
€17B
$NZ1B
www.Mironov.com
• Local expert within single company or group
• Generalize from unique combination of systems,
processes, organizations, goals, roles
• “That’s how we do it at my company”
• Easy to ignore opinions/situations of others
• Imagine themselves as “the customer”
Experts Bring Deep Unconscious Bias
www.Mironov.com
Most of the success /
failure of a product is
determined before we
assign our first developer
or fill out our first story
card.
www.Mironov.com
• For a narrow audience (qualifications)
• Who say they have this problem (their words)
• And will pay for a solution (value)
• That delivers better results than
alternatives (metric)
• Within their context (processes,
systems, assumptions)
Validation: Define Problem First
www.Mironov.com
Customers are experts
in what they want to
achieve, not how to
achieve it.
- Alex Osterwalder
• Markets are complex and surprising
• Your initial theory is always (partly) wrong
• You learn from customers and prospects
• What’s the pattern? Who are the outliers?
• Rule of thumb: you need 20+ in-depth
interviews to start seeing patterns
Theory vs. Discovery
www.Mironov.com
• You are selling when you…
• Do most of the talking
• Anticipate objections, plan your arguments
• Understand the material
• Want to “close” in the meeting
• You are listening when you…
• Ask open-ended questions, be quiet
• Take notes
• Repeat for clarification
• Expect to be surprised, hope to hear “NO”
Are You Selling or Listening?
• Confirmation bias
• Troll for “yes,” explain away “no,” misremember, overgeneralize
• Availability bias
• Overweight/remember most recent instances
• Authority/bandwagon bias
• Executives say this is true
• Chooser/user bias
• CAB attendee overstates minimal user feedback
Stay humble, anticipate your own biases
Validation Biases
www.Mironov.com
• Get inside their heads
• 30+ minute in-person interviews
• Open-ended questions
• Record session or take good notes
• Ask about…
• How their business* works
• What they name things
• What keeps them awake at night (pain)
• Current solutions, alternatives, shortcomings, competitors
• How they justify spending (ROI)
Extended Interviews
14www.Mironov.com
How did 15-30 prospects…
• Describe their pain points? Urgency?
• Say they would score/measure success?
• Get purchase approval?
• Identify existing systems,
environment, processes?
Listening/Learning Enables Selling
www.Mironov.com
• Founders “sell” all day: investors, staff, customers
• Salespeople answer objections to get to “yes”
• Someone must be segment-focused instead of
account-focused, objective, realistic/pessimistic,
sweating details and practicalities. Internally, who
tells the absolute ugly truth?
This Is Really Hard
www.Mironov.com
There’s nothing more
wasteful than brilliantly
engineering a product
that doesn’t sell.
www.Mironov.com
At your startup, someone
“plays” Product Manager
Balance exec enthusiasm with honesty
• Market fit, whole product, real value
• Scalable revenue vs. individual deals
• Long-term customer relationships
Why Do We Need
Product Managers?
www.Mironov.com
• Need
• 3+ years experience as actual product manager,
with product manager title, on revenue products.
Experience pushing back on execs.
• Not substitutes
• SME or deep technical expert
• Eager volunteer from another role
• Scrum master/project manager
• “I did something just like that”
Choosing Your First Product Manager
www.Mironov.com
1. Product-market fit is life-or-death for
your company
2. Rigorous, honest validation (now)
enables scalable selling (later)
3. Customers always propose (wrong)
solutions to their problems
4. Product management validation balances
founder enthusiasm
Takeaways
www.Mironov.com
Rich Mironov
Mironov Consulting
San Francisco, CA, USA
www.mironov.com
+1-650-315-7394
rich@mironov.com
@richmironov

More Related Content

What's hot

Product Management Basics (for SCU MBA program)
Product Management Basics (for SCU MBA program)Product Management Basics (for SCU MBA program)
Product Management Basics (for SCU MBA program)Rich Mironov
 
Why You’ll Eventually Need A Product Manager At Your Startup
Why You’ll Eventually Need A Product Manager At Your StartupWhy You’ll Eventually Need A Product Manager At Your Startup
Why You’ll Eventually Need A Product Manager At Your StartupRich Mironov
 
EL-SIG: How Engineering Works with ProdMgmt
EL-SIG: How Engineering Works with ProdMgmt EL-SIG: How Engineering Works with ProdMgmt
EL-SIG: How Engineering Works with ProdMgmt Rich Mironov
 
Product vs Program/Project Management
Product vs Program/Project ManagementProduct vs Program/Project Management
Product vs Program/Project ManagementRich Mironov
 
What Do Product Leaders Do? (and How Can I Become One?)
 What Do Product Leaders Do? (and How Can I Become One?) What Do Product Leaders Do? (and How Can I Become One?)
What Do Product Leaders Do? (and How Can I Become One?)Rich Mironov
 
How Agile plus Product Management helps Build the RIGHT Things the RIGHT Way
How Agile plus Product Management helps Build the RIGHT Things the RIGHT WayHow Agile plus Product Management helps Build the RIGHT Things the RIGHT Way
How Agile plus Product Management helps Build the RIGHT Things the RIGHT WayRich Mironov
 
“Getting Promoted” at SV Product Camp 2013
“Getting Promoted” at SV Product Camp 2013“Getting Promoted” at SV Product Camp 2013
“Getting Promoted” at SV Product Camp 2013Rich Mironov
 
Building and Scaling a Product Team
 Building and Scaling a Product Team Building and Scaling a Product Team
Building and Scaling a Product TeamRich Mironov
 
What Your Roadmap Audiences Are Really Thinking
What Your Roadmap Audiences Are Really ThinkingWhat Your Roadmap Audiences Are Really Thinking
What Your Roadmap Audiences Are Really ThinkingRich Mironov
 
Rich Mironov Hiring a head of product BoS USA Online 2020
Rich Mironov Hiring a head of product BoS USA Online 2020Rich Mironov Hiring a head of product BoS USA Online 2020
Rich Mironov Hiring a head of product BoS USA Online 2020Business of Software Conference
 
Four Laws of Tech Product Economics - Rich Mironov
Four Laws of Tech Product Economics - Rich MironovFour Laws of Tech Product Economics - Rich Mironov
Four Laws of Tech Product Economics - Rich MironovProductCampPortland
 
Software Pricing Demystified (The Basics)
Software PricingDemystified (The Basics)Software PricingDemystified (The Basics)
Software Pricing Demystified (The Basics)Rich Mironov
 
Product Camp SF 2013 Keynote: Passionate About Product Management
Product Camp SF 2013 Keynote: Passionate About Product ManagementProduct Camp SF 2013 Keynote: Passionate About Product Management
Product Camp SF 2013 Keynote: Passionate About Product ManagementRich Mironov
 
Three Product Challenges for Early-Stage Entrepreneurs
Three Product Challenges for Early-Stage EntrepreneursThree Product Challenges for Early-Stage Entrepreneurs
Three Product Challenges for Early-Stage EntrepreneursRich Mironov
 
Making Hard (Strategic) Decisions about Products and Portfolios
Making Hard (Strategic) Decisions about Products and PortfoliosMaking Hard (Strategic) Decisions about Products and Portfolios
Making Hard (Strategic) Decisions about Products and PortfoliosRich Mironov
 
Is Product Management Obsolete?
Is Product Management Obsolete?Is Product Management Obsolete?
Is Product Management Obsolete?Rich Mironov
 
Dealing with Misaligned Stakeholders
Dealing with Misaligned StakeholdersDealing with Misaligned Stakeholders
Dealing with Misaligned StakeholdersRich Mironov
 
Product Management Is Not Optional (EL-SIG/SVForum)
Product Management Is Not Optional (EL-SIG/SVForum)Product Management Is Not Optional (EL-SIG/SVForum)
Product Management Is Not Optional (EL-SIG/SVForum)Rich Mironov
 
AgileCamp Dallas: Unpacking Business Value (Mironov)
AgileCamp Dallas: Unpacking Business Value (Mironov)AgileCamp Dallas: Unpacking Business Value (Mironov)
AgileCamp Dallas: Unpacking Business Value (Mironov)Rich Mironov
 
Why You’ll (Eventually) Need a Product Manager at Your Startup
Why You’ll (Eventually) Need a Product Manager at Your StartupWhy You’ll (Eventually) Need a Product Manager at Your Startup
Why You’ll (Eventually) Need a Product Manager at Your StartupRich Mironov
 

What's hot (20)

Product Management Basics (for SCU MBA program)
Product Management Basics (for SCU MBA program)Product Management Basics (for SCU MBA program)
Product Management Basics (for SCU MBA program)
 
Why You’ll Eventually Need A Product Manager At Your Startup
Why You’ll Eventually Need A Product Manager At Your StartupWhy You’ll Eventually Need A Product Manager At Your Startup
Why You’ll Eventually Need A Product Manager At Your Startup
 
EL-SIG: How Engineering Works with ProdMgmt
EL-SIG: How Engineering Works with ProdMgmt EL-SIG: How Engineering Works with ProdMgmt
EL-SIG: How Engineering Works with ProdMgmt
 
Product vs Program/Project Management
Product vs Program/Project ManagementProduct vs Program/Project Management
Product vs Program/Project Management
 
What Do Product Leaders Do? (and How Can I Become One?)
 What Do Product Leaders Do? (and How Can I Become One?) What Do Product Leaders Do? (and How Can I Become One?)
What Do Product Leaders Do? (and How Can I Become One?)
 
How Agile plus Product Management helps Build the RIGHT Things the RIGHT Way
How Agile plus Product Management helps Build the RIGHT Things the RIGHT WayHow Agile plus Product Management helps Build the RIGHT Things the RIGHT Way
How Agile plus Product Management helps Build the RIGHT Things the RIGHT Way
 
“Getting Promoted” at SV Product Camp 2013
“Getting Promoted” at SV Product Camp 2013“Getting Promoted” at SV Product Camp 2013
“Getting Promoted” at SV Product Camp 2013
 
Building and Scaling a Product Team
 Building and Scaling a Product Team Building and Scaling a Product Team
Building and Scaling a Product Team
 
What Your Roadmap Audiences Are Really Thinking
What Your Roadmap Audiences Are Really ThinkingWhat Your Roadmap Audiences Are Really Thinking
What Your Roadmap Audiences Are Really Thinking
 
Rich Mironov Hiring a head of product BoS USA Online 2020
Rich Mironov Hiring a head of product BoS USA Online 2020Rich Mironov Hiring a head of product BoS USA Online 2020
Rich Mironov Hiring a head of product BoS USA Online 2020
 
Four Laws of Tech Product Economics - Rich Mironov
Four Laws of Tech Product Economics - Rich MironovFour Laws of Tech Product Economics - Rich Mironov
Four Laws of Tech Product Economics - Rich Mironov
 
Software Pricing Demystified (The Basics)
Software PricingDemystified (The Basics)Software PricingDemystified (The Basics)
Software Pricing Demystified (The Basics)
 
Product Camp SF 2013 Keynote: Passionate About Product Management
Product Camp SF 2013 Keynote: Passionate About Product ManagementProduct Camp SF 2013 Keynote: Passionate About Product Management
Product Camp SF 2013 Keynote: Passionate About Product Management
 
Three Product Challenges for Early-Stage Entrepreneurs
Three Product Challenges for Early-Stage EntrepreneursThree Product Challenges for Early-Stage Entrepreneurs
Three Product Challenges for Early-Stage Entrepreneurs
 
Making Hard (Strategic) Decisions about Products and Portfolios
Making Hard (Strategic) Decisions about Products and PortfoliosMaking Hard (Strategic) Decisions about Products and Portfolios
Making Hard (Strategic) Decisions about Products and Portfolios
 
Is Product Management Obsolete?
Is Product Management Obsolete?Is Product Management Obsolete?
Is Product Management Obsolete?
 
Dealing with Misaligned Stakeholders
Dealing with Misaligned StakeholdersDealing with Misaligned Stakeholders
Dealing with Misaligned Stakeholders
 
Product Management Is Not Optional (EL-SIG/SVForum)
Product Management Is Not Optional (EL-SIG/SVForum)Product Management Is Not Optional (EL-SIG/SVForum)
Product Management Is Not Optional (EL-SIG/SVForum)
 
AgileCamp Dallas: Unpacking Business Value (Mironov)
AgileCamp Dallas: Unpacking Business Value (Mironov)AgileCamp Dallas: Unpacking Business Value (Mironov)
AgileCamp Dallas: Unpacking Business Value (Mironov)
 
Why You’ll (Eventually) Need a Product Manager at Your Startup
Why You’ll (Eventually) Need a Product Manager at Your StartupWhy You’ll (Eventually) Need a Product Manager at Your Startup
Why You’ll (Eventually) Need a Product Manager at Your Startup
 

Similar to Validation and Product-Market Fit (Auckland, August 2018)

Nvc 2013 presentation
Nvc 2013 presentationNvc 2013 presentation
Nvc 2013 presentationburns9097
 
Selling disruptive technolgy to the enterprise
Selling disruptive technolgy to the enterpriseSelling disruptive technolgy to the enterprise
Selling disruptive technolgy to the enterprisePaul Liesching
 
2015 effective marketing overview
2015 effective marketing overview2015 effective marketing overview
2015 effective marketing overviewKathleen Melen
 
How to keep the front end of innovation full iri
How to keep the front end of innovation full iriHow to keep the front end of innovation full iri
How to keep the front end of innovation full iriBruce Janda
 
InnovateEDU Bootcamp: 7 Questions Investors Will Ask About Your GoToMarket St...
InnovateEDU Bootcamp: 7 Questions Investors Will Ask About Your GoToMarket St...InnovateEDU Bootcamp: 7 Questions Investors Will Ask About Your GoToMarket St...
InnovateEDU Bootcamp: 7 Questions Investors Will Ask About Your GoToMarket St...Katie Martell
 
10 things to keep in mind
10 things to keep in mind10 things to keep in mind
10 things to keep in mindMichael Burcham
 
Market validation - customer discovery.pptx
Market validation - customer discovery.pptxMarket validation - customer discovery.pptx
Market validation - customer discovery.pptxImre Hild
 
Customer Discovery: Validating New Product Opportunities
Customer Discovery: Validating New Product OpportunitiesCustomer Discovery: Validating New Product Opportunities
Customer Discovery: Validating New Product OpportunitiesProductPlan
 
2a customer discovery ( canvas and story ).2013.q2
2a customer discovery ( canvas and story ).2013.q22a customer discovery ( canvas and story ).2013.q2
2a customer discovery ( canvas and story ).2013.q2iain.verigin
 
Small Businesses: Mastering the Sale
Small Businesses: Mastering the SaleSmall Businesses: Mastering the Sale
Small Businesses: Mastering the SaleGenerations FCU
 
Indian Product Manager with global stakeholders, how to make that work? by Go...
Indian Product Manager with global stakeholders, how to make that work? by Go...Indian Product Manager with global stakeholders, how to make that work? by Go...
Indian Product Manager with global stakeholders, how to make that work? by Go...Pinkesh Shah
 
150 Startups Kick-off Workshop
150 Startups Kick-off Workshop150 Startups Kick-off Workshop
150 Startups Kick-off Workshop150Startups
 
How to build a startup SLASSSCOM Talk Aug 2015
How to build a startup SLASSSCOM Talk Aug 2015How to build a startup SLASSSCOM Talk Aug 2015
How to build a startup SLASSSCOM Talk Aug 2015Raomal Perera
 
Advanced client relationship skills
Advanced client relationship skillsAdvanced client relationship skills
Advanced client relationship skillsAidan Dye
 
Business opportunity
Business opportunityBusiness opportunity
Business opportunityAnkit Poddar
 
Lean Startup - Marcus Whitney
Lean Startup - Marcus WhitneyLean Startup - Marcus Whitney
Lean Startup - Marcus WhitneyNathan King
 
The psychology of selling
The psychology of selling The psychology of selling
The psychology of selling Mehdi H.Mahfoud
 
innovation-180409100133.pdf
innovation-180409100133.pdfinnovation-180409100133.pdf
innovation-180409100133.pdflakshmimegan
 

Similar to Validation and Product-Market Fit (Auckland, August 2018) (20)

Nvc 2013 presentation
Nvc 2013 presentationNvc 2013 presentation
Nvc 2013 presentation
 
Selling disruptive technolgy to the enterprise
Selling disruptive technolgy to the enterpriseSelling disruptive technolgy to the enterprise
Selling disruptive technolgy to the enterprise
 
2015 effective marketing overview
2015 effective marketing overview2015 effective marketing overview
2015 effective marketing overview
 
How to keep the front end of innovation full iri
How to keep the front end of innovation full iriHow to keep the front end of innovation full iri
How to keep the front end of innovation full iri
 
InnovateEDU Bootcamp: 7 Questions Investors Will Ask About Your GoToMarket St...
InnovateEDU Bootcamp: 7 Questions Investors Will Ask About Your GoToMarket St...InnovateEDU Bootcamp: 7 Questions Investors Will Ask About Your GoToMarket St...
InnovateEDU Bootcamp: 7 Questions Investors Will Ask About Your GoToMarket St...
 
10 things to keep in mind
10 things to keep in mind10 things to keep in mind
10 things to keep in mind
 
Market validation - customer discovery.pptx
Market validation - customer discovery.pptxMarket validation - customer discovery.pptx
Market validation - customer discovery.pptx
 
Customer Discovery: Validating New Product Opportunities
Customer Discovery: Validating New Product OpportunitiesCustomer Discovery: Validating New Product Opportunities
Customer Discovery: Validating New Product Opportunities
 
2a customer discovery ( canvas and story ).2013.q2
2a customer discovery ( canvas and story ).2013.q22a customer discovery ( canvas and story ).2013.q2
2a customer discovery ( canvas and story ).2013.q2
 
Sales
SalesSales
Sales
 
Small Businesses: Mastering the Sale
Small Businesses: Mastering the SaleSmall Businesses: Mastering the Sale
Small Businesses: Mastering the Sale
 
Indian Product Manager with global stakeholders, how to make that work? by Go...
Indian Product Manager with global stakeholders, how to make that work? by Go...Indian Product Manager with global stakeholders, how to make that work? by Go...
Indian Product Manager with global stakeholders, how to make that work? by Go...
 
150 Startups Kick-off Workshop
150 Startups Kick-off Workshop150 Startups Kick-off Workshop
150 Startups Kick-off Workshop
 
How to build a startup SLASSSCOM Talk Aug 2015
How to build a startup SLASSSCOM Talk Aug 2015How to build a startup SLASSSCOM Talk Aug 2015
How to build a startup SLASSSCOM Talk Aug 2015
 
Advanced client relationship skills
Advanced client relationship skillsAdvanced client relationship skills
Advanced client relationship skills
 
Evaluating Ideas
Evaluating IdeasEvaluating Ideas
Evaluating Ideas
 
Business opportunity
Business opportunityBusiness opportunity
Business opportunity
 
Lean Startup - Marcus Whitney
Lean Startup - Marcus WhitneyLean Startup - Marcus Whitney
Lean Startup - Marcus Whitney
 
The psychology of selling
The psychology of selling The psychology of selling
The psychology of selling
 
innovation-180409100133.pdf
innovation-180409100133.pdfinnovation-180409100133.pdf
innovation-180409100133.pdf
 

More from Rich Mironov

Why Silicon Valley Continues to Innovate and Rock the World
Why Silicon Valley Continues to Innovate and Rock the WorldWhy Silicon Valley Continues to Innovate and Rock the World
Why Silicon Valley Continues to Innovate and Rock the WorldRich Mironov
 
How To Manage Misaligned Stakeholders (Who Are Usually Misaligned)
How To Manage Misaligned Stakeholders (Who Are Usually Misaligned)How To Manage Misaligned Stakeholders (Who Are Usually Misaligned)
How To Manage Misaligned Stakeholders (Who Are Usually Misaligned)Rich Mironov
 
Covid19's Impact On Your Product Strategy
Covid19's Impact On Your Product StrategyCovid19's Impact On Your Product Strategy
Covid19's Impact On Your Product StrategyRich Mironov
 
Organizational Challenge of Enterprise Roadmapping
Organizational Challenge of Enterprise RoadmappingOrganizational Challenge of Enterprise Roadmapping
Organizational Challenge of Enterprise RoadmappingRich Mironov
 
Product Managers, Product Owners, and Need for Real End User Validation
Product Managers, Product Owners, and Need for Real End User ValidationProduct Managers, Product Owners, and Need for Real End User Validation
Product Managers, Product Owners, and Need for Real End User ValidationRich Mironov
 
Product Leadership: Lessons from Silicon Valley (SPS ISPMA)
Product Leadership: Lessons from Silicon Valley  (SPS ISPMA)Product Leadership: Lessons from Silicon Valley  (SPS ISPMA)
Product Leadership: Lessons from Silicon Valley (SPS ISPMA)Rich Mironov
 
Product Career Ladder: Getting Promoted to Director
Product Career Ladder: Getting Promoted to DirectorProduct Career Ladder: Getting Promoted to Director
Product Career Ladder: Getting Promoted to DirectorRich Mironov
 
Intro to Agile Innovation (Agile 2016)
Intro to Agile Innovation (Agile 2016) Intro to Agile Innovation (Agile 2016)
Intro to Agile Innovation (Agile 2016) Rich Mironov
 
Agile2016: Intro to Agile Product Management
Agile2016: Intro to Agile Product ManagementAgile2016: Intro to Agile Product Management
Agile2016: Intro to Agile Product ManagementRich Mironov
 
Four Laws of Software Economics
Four Laws of Software EconomicsFour Laws of Software Economics
Four Laws of Software EconomicsRich Mironov
 
Four Laws of Software Economics
Four Laws of Software EconomicsFour Laws of Software Economics
Four Laws of Software EconomicsRich Mironov
 
Agile205: Intro to Agile Product Management
Agile205: Intro to Agile Product ManagementAgile205: Intro to Agile Product Management
Agile205: Intro to Agile Product ManagementRich Mironov
 
Making The Right Strategic Choices in Product Portfolios
Making The Right Strategic Choices in Product PortfoliosMaking The Right Strategic Choices in Product Portfolios
Making The Right Strategic Choices in Product PortfoliosRich Mironov
 
Agile@Cork: Silicon Valley View of Product Owner/Manager Challenges
Agile@Cork: Silicon Valley View of Product Owner/Manager ChallengesAgile@Cork: Silicon Valley View of Product Owner/Manager Challenges
Agile@Cork: Silicon Valley View of Product Owner/Manager ChallengesRich Mironov
 

More from Rich Mironov (14)

Why Silicon Valley Continues to Innovate and Rock the World
Why Silicon Valley Continues to Innovate and Rock the WorldWhy Silicon Valley Continues to Innovate and Rock the World
Why Silicon Valley Continues to Innovate and Rock the World
 
How To Manage Misaligned Stakeholders (Who Are Usually Misaligned)
How To Manage Misaligned Stakeholders (Who Are Usually Misaligned)How To Manage Misaligned Stakeholders (Who Are Usually Misaligned)
How To Manage Misaligned Stakeholders (Who Are Usually Misaligned)
 
Covid19's Impact On Your Product Strategy
Covid19's Impact On Your Product StrategyCovid19's Impact On Your Product Strategy
Covid19's Impact On Your Product Strategy
 
Organizational Challenge of Enterprise Roadmapping
Organizational Challenge of Enterprise RoadmappingOrganizational Challenge of Enterprise Roadmapping
Organizational Challenge of Enterprise Roadmapping
 
Product Managers, Product Owners, and Need for Real End User Validation
Product Managers, Product Owners, and Need for Real End User ValidationProduct Managers, Product Owners, and Need for Real End User Validation
Product Managers, Product Owners, and Need for Real End User Validation
 
Product Leadership: Lessons from Silicon Valley (SPS ISPMA)
Product Leadership: Lessons from Silicon Valley  (SPS ISPMA)Product Leadership: Lessons from Silicon Valley  (SPS ISPMA)
Product Leadership: Lessons from Silicon Valley (SPS ISPMA)
 
Product Career Ladder: Getting Promoted to Director
Product Career Ladder: Getting Promoted to DirectorProduct Career Ladder: Getting Promoted to Director
Product Career Ladder: Getting Promoted to Director
 
Intro to Agile Innovation (Agile 2016)
Intro to Agile Innovation (Agile 2016) Intro to Agile Innovation (Agile 2016)
Intro to Agile Innovation (Agile 2016)
 
Agile2016: Intro to Agile Product Management
Agile2016: Intro to Agile Product ManagementAgile2016: Intro to Agile Product Management
Agile2016: Intro to Agile Product Management
 
Four Laws of Software Economics
Four Laws of Software EconomicsFour Laws of Software Economics
Four Laws of Software Economics
 
Four Laws of Software Economics
Four Laws of Software EconomicsFour Laws of Software Economics
Four Laws of Software Economics
 
Agile205: Intro to Agile Product Management
Agile205: Intro to Agile Product ManagementAgile205: Intro to Agile Product Management
Agile205: Intro to Agile Product Management
 
Making The Right Strategic Choices in Product Portfolios
Making The Right Strategic Choices in Product PortfoliosMaking The Right Strategic Choices in Product Portfolios
Making The Right Strategic Choices in Product Portfolios
 
Agile@Cork: Silicon Valley View of Product Owner/Manager Challenges
Agile@Cork: Silicon Valley View of Product Owner/Manager ChallengesAgile@Cork: Silicon Valley View of Product Owner/Manager Challenges
Agile@Cork: Silicon Valley View of Product Owner/Manager Challenges
 

Recently uploaded

A DAY IN THE LIFE OF A SALESPERSON .pptx
A DAY IN THE LIFE OF A SALESPERSON .pptxA DAY IN THE LIFE OF A SALESPERSON .pptx
A DAY IN THE LIFE OF A SALESPERSON .pptxseemajojo02
 
JEYPORE CALL GIRL ❤ 8272964427❤ CALL GIRLS IN JEYPORE ESCORTS SERVICE PROVIDE
JEYPORE CALL GIRL ❤ 8272964427❤ CALL GIRLS IN JEYPORE ESCORTS SERVICE PROVIDEJEYPORE CALL GIRL ❤ 8272964427❤ CALL GIRLS IN JEYPORE ESCORTS SERVICE PROVIDE
JEYPORE CALL GIRL ❤ 8272964427❤ CALL GIRLS IN JEYPORE ESCORTS SERVICE PROVIDEkajalroy875762
 
PALWAL CALL GIRL ❤ 8272964427❤ CALL GIRLS IN PALWAL ESCORTS
PALWAL CALL GIRL ❤ 8272964427❤ CALL GIRLS IN PALWAL ESCORTSPALWAL CALL GIRL ❤ 8272964427❤ CALL GIRLS IN PALWAL ESCORTS
PALWAL CALL GIRL ❤ 8272964427❤ CALL GIRLS IN PALWAL ESCORTSkajalroy875762
 
GURGAON CALL GIRL ❤ 8272964427❤ CALL GIRLS IN GURGAON ESCORTS SERVICE PROVIDE
GURGAON CALL GIRL ❤ 8272964427❤ CALL GIRLS IN GURGAON  ESCORTS SERVICE PROVIDEGURGAON CALL GIRL ❤ 8272964427❤ CALL GIRLS IN GURGAON  ESCORTS SERVICE PROVIDE
GURGAON CALL GIRL ❤ 8272964427❤ CALL GIRLS IN GURGAON ESCORTS SERVICE PROVIDEkajalroy875762
 
Presentation4 (2) survey responses clearly labelled
Presentation4 (2) survey responses clearly labelledPresentation4 (2) survey responses clearly labelled
Presentation4 (2) survey responses clearly labelledCaitlinCummins3
 
Thompson_Taylor_MBBS_PB1_2024-03 (1)- Project & Portfolio 2.pptx
Thompson_Taylor_MBBS_PB1_2024-03 (1)- Project & Portfolio 2.pptxThompson_Taylor_MBBS_PB1_2024-03 (1)- Project & Portfolio 2.pptx
Thompson_Taylor_MBBS_PB1_2024-03 (1)- Project & Portfolio 2.pptxtmthompson1
 
PALWAL CALL GIRL ❤ 82729*64427❤ CALL GIRLS IN PALWAL ESCORTS
PALWAL CALL GIRL ❤ 82729*64427❤ CALL GIRLS IN PALWAL ESCORTSPALWAL CALL GIRL ❤ 82729*64427❤ CALL GIRLS IN PALWAL ESCORTS
PALWAL CALL GIRL ❤ 82729*64427❤ CALL GIRLS IN PALWAL ESCORTSkajalroy875762
 
JAJPUR CALL GIRL ❤ 8272964427❤ CALL GIRLS IN JAJPUR ESCORTS SERVICE PROVIDE
JAJPUR CALL GIRL ❤ 8272964427❤ CALL GIRLS IN JAJPUR  ESCORTS SERVICE PROVIDEJAJPUR CALL GIRL ❤ 8272964427❤ CALL GIRLS IN JAJPUR  ESCORTS SERVICE PROVIDE
JAJPUR CALL GIRL ❤ 8272964427❤ CALL GIRLS IN JAJPUR ESCORTS SERVICE PROVIDEkajalroy875762
 
Arti Languages Pre Seed Teaser Deck 2024.pdf
Arti Languages Pre Seed Teaser Deck 2024.pdfArti Languages Pre Seed Teaser Deck 2024.pdf
Arti Languages Pre Seed Teaser Deck 2024.pdfwill854175
 
The Art of Decision-Making: Navigating Complexity and Uncertainty
The Art of Decision-Making: Navigating Complexity and UncertaintyThe Art of Decision-Making: Navigating Complexity and Uncertainty
The Art of Decision-Making: Navigating Complexity and Uncertaintycapivisgroup
 
10 Influential Leaders Defining the Future of Digital Banking in 2024.pdf
10 Influential Leaders Defining the Future of Digital Banking in 2024.pdf10 Influential Leaders Defining the Future of Digital Banking in 2024.pdf
10 Influential Leaders Defining the Future of Digital Banking in 2024.pdfciolook1
 
Pitch Deck Teardown: Goodcarbon's $5.5m Seed deck
Pitch Deck Teardown: Goodcarbon's $5.5m Seed deckPitch Deck Teardown: Goodcarbon's $5.5m Seed deck
Pitch Deck Teardown: Goodcarbon's $5.5m Seed deckHajeJanKamps
 
Cracking the 'Career Pathing' Slideshare
Cracking the 'Career Pathing' SlideshareCracking the 'Career Pathing' Slideshare
Cracking the 'Career Pathing' SlideshareWorkforce Group
 
obat aborsi bandung wa 081336238223 jual obat aborsi cytotec asli di bandung9...
obat aborsi bandung wa 081336238223 jual obat aborsi cytotec asli di bandung9...obat aborsi bandung wa 081336238223 jual obat aborsi cytotec asli di bandung9...
obat aborsi bandung wa 081336238223 jual obat aborsi cytotec asli di bandung9...yulianti213969
 
How Bookkeeping helps you in Cost Saving, Tax Saving and Smooth Business Runn...
How Bookkeeping helps you in Cost Saving, Tax Saving and Smooth Business Runn...How Bookkeeping helps you in Cost Saving, Tax Saving and Smooth Business Runn...
How Bookkeeping helps you in Cost Saving, Tax Saving and Smooth Business Runn...YourLegal Accounting
 
Progress Report - UKG Analyst Summit 2024 - A lot to do - Good Progress1-1.pdf
Progress Report - UKG Analyst Summit 2024 - A lot to do - Good Progress1-1.pdfProgress Report - UKG Analyst Summit 2024 - A lot to do - Good Progress1-1.pdf
Progress Report - UKG Analyst Summit 2024 - A lot to do - Good Progress1-1.pdfHolger Mueller
 

Recently uploaded (20)

Home Furnishings Ecommerce Platform Short Pitch 2024
Home Furnishings Ecommerce Platform Short Pitch 2024Home Furnishings Ecommerce Platform Short Pitch 2024
Home Furnishings Ecommerce Platform Short Pitch 2024
 
A DAY IN THE LIFE OF A SALESPERSON .pptx
A DAY IN THE LIFE OF A SALESPERSON .pptxA DAY IN THE LIFE OF A SALESPERSON .pptx
A DAY IN THE LIFE OF A SALESPERSON .pptx
 
JEYPORE CALL GIRL ❤ 8272964427❤ CALL GIRLS IN JEYPORE ESCORTS SERVICE PROVIDE
JEYPORE CALL GIRL ❤ 8272964427❤ CALL GIRLS IN JEYPORE ESCORTS SERVICE PROVIDEJEYPORE CALL GIRL ❤ 8272964427❤ CALL GIRLS IN JEYPORE ESCORTS SERVICE PROVIDE
JEYPORE CALL GIRL ❤ 8272964427❤ CALL GIRLS IN JEYPORE ESCORTS SERVICE PROVIDE
 
PALWAL CALL GIRL ❤ 8272964427❤ CALL GIRLS IN PALWAL ESCORTS
PALWAL CALL GIRL ❤ 8272964427❤ CALL GIRLS IN PALWAL ESCORTSPALWAL CALL GIRL ❤ 8272964427❤ CALL GIRLS IN PALWAL ESCORTS
PALWAL CALL GIRL ❤ 8272964427❤ CALL GIRLS IN PALWAL ESCORTS
 
GURGAON CALL GIRL ❤ 8272964427❤ CALL GIRLS IN GURGAON ESCORTS SERVICE PROVIDE
GURGAON CALL GIRL ❤ 8272964427❤ CALL GIRLS IN GURGAON  ESCORTS SERVICE PROVIDEGURGAON CALL GIRL ❤ 8272964427❤ CALL GIRLS IN GURGAON  ESCORTS SERVICE PROVIDE
GURGAON CALL GIRL ❤ 8272964427❤ CALL GIRLS IN GURGAON ESCORTS SERVICE PROVIDE
 
Presentation4 (2) survey responses clearly labelled
Presentation4 (2) survey responses clearly labelledPresentation4 (2) survey responses clearly labelled
Presentation4 (2) survey responses clearly labelled
 
Thompson_Taylor_MBBS_PB1_2024-03 (1)- Project & Portfolio 2.pptx
Thompson_Taylor_MBBS_PB1_2024-03 (1)- Project & Portfolio 2.pptxThompson_Taylor_MBBS_PB1_2024-03 (1)- Project & Portfolio 2.pptx
Thompson_Taylor_MBBS_PB1_2024-03 (1)- Project & Portfolio 2.pptx
 
Obat Aborsi Pasuruan 0851\7696\3835 Jual Obat Cytotec Di Pasuruan
Obat Aborsi Pasuruan 0851\7696\3835 Jual Obat Cytotec Di PasuruanObat Aborsi Pasuruan 0851\7696\3835 Jual Obat Cytotec Di Pasuruan
Obat Aborsi Pasuruan 0851\7696\3835 Jual Obat Cytotec Di Pasuruan
 
Learn How To Start Buy Verified Payoneer Accounts
Learn How To Start Buy Verified Payoneer AccountsLearn How To Start Buy Verified Payoneer Accounts
Learn How To Start Buy Verified Payoneer Accounts
 
PALWAL CALL GIRL ❤ 82729*64427❤ CALL GIRLS IN PALWAL ESCORTS
PALWAL CALL GIRL ❤ 82729*64427❤ CALL GIRLS IN PALWAL ESCORTSPALWAL CALL GIRL ❤ 82729*64427❤ CALL GIRLS IN PALWAL ESCORTS
PALWAL CALL GIRL ❤ 82729*64427❤ CALL GIRLS IN PALWAL ESCORTS
 
JAJPUR CALL GIRL ❤ 8272964427❤ CALL GIRLS IN JAJPUR ESCORTS SERVICE PROVIDE
JAJPUR CALL GIRL ❤ 8272964427❤ CALL GIRLS IN JAJPUR  ESCORTS SERVICE PROVIDEJAJPUR CALL GIRL ❤ 8272964427❤ CALL GIRLS IN JAJPUR  ESCORTS SERVICE PROVIDE
JAJPUR CALL GIRL ❤ 8272964427❤ CALL GIRLS IN JAJPUR ESCORTS SERVICE PROVIDE
 
Arti Languages Pre Seed Teaser Deck 2024.pdf
Arti Languages Pre Seed Teaser Deck 2024.pdfArti Languages Pre Seed Teaser Deck 2024.pdf
Arti Languages Pre Seed Teaser Deck 2024.pdf
 
The Art of Decision-Making: Navigating Complexity and Uncertainty
The Art of Decision-Making: Navigating Complexity and UncertaintyThe Art of Decision-Making: Navigating Complexity and Uncertainty
The Art of Decision-Making: Navigating Complexity and Uncertainty
 
10 Influential Leaders Defining the Future of Digital Banking in 2024.pdf
10 Influential Leaders Defining the Future of Digital Banking in 2024.pdf10 Influential Leaders Defining the Future of Digital Banking in 2024.pdf
10 Influential Leaders Defining the Future of Digital Banking in 2024.pdf
 
Pitch Deck Teardown: Goodcarbon's $5.5m Seed deck
Pitch Deck Teardown: Goodcarbon's $5.5m Seed deckPitch Deck Teardown: Goodcarbon's $5.5m Seed deck
Pitch Deck Teardown: Goodcarbon's $5.5m Seed deck
 
Cracking the 'Career Pathing' Slideshare
Cracking the 'Career Pathing' SlideshareCracking the 'Career Pathing' Slideshare
Cracking the 'Career Pathing' Slideshare
 
obat aborsi bandung wa 081336238223 jual obat aborsi cytotec asli di bandung9...
obat aborsi bandung wa 081336238223 jual obat aborsi cytotec asli di bandung9...obat aborsi bandung wa 081336238223 jual obat aborsi cytotec asli di bandung9...
obat aborsi bandung wa 081336238223 jual obat aborsi cytotec asli di bandung9...
 
How Bookkeeping helps you in Cost Saving, Tax Saving and Smooth Business Runn...
How Bookkeeping helps you in Cost Saving, Tax Saving and Smooth Business Runn...How Bookkeeping helps you in Cost Saving, Tax Saving and Smooth Business Runn...
How Bookkeeping helps you in Cost Saving, Tax Saving and Smooth Business Runn...
 
Progress Report - UKG Analyst Summit 2024 - A lot to do - Good Progress1-1.pdf
Progress Report - UKG Analyst Summit 2024 - A lot to do - Good Progress1-1.pdfProgress Report - UKG Analyst Summit 2024 - A lot to do - Good Progress1-1.pdf
Progress Report - UKG Analyst Summit 2024 - A lot to do - Good Progress1-1.pdf
 
WAM Corporate Presentation May 2024_w.pdf
WAM Corporate Presentation May 2024_w.pdfWAM Corporate Presentation May 2024_w.pdf
WAM Corporate Presentation May 2024_w.pdf
 

Validation and Product-Market Fit (Auckland, August 2018)

  • 1. Validation and Product-Market Fit (How Product Management Increases Your Startup’s Odds of Survival) Rich Mironov Callaghan Innovation Auckland, 28 Aug 2018
  • 2. 1. We all resist doing market validation 2. Selling isn’t learning 3. Get (or try to be) a product manager Agenda www.Mironov.com
  • 3. Goal: scalable business that addresses real (recognized) needs of large audience in a novel way. Profitably. www.Mironov.com
  • 4. 1. I’ve discovered a new need. 2. My idea is unique/correct/valuable. 3. I’m the expert. I know the answer. 4. Solution focus (before problem validation) 5. “Talking to customers” means telling and selling Five Fundamental Mistakes Almost All Founders Make www.Mironov.com
  • 5. • Business accounting… Sumeria, 7500 BC • Mobile computing… specs: Alan Kay, 1968. Touch screen: GridPad, 1989. MP3: MPMan, 1998. • Real-time multiplayer online game… Habitat, 1985 • Online grocery ordering/delivery… Webvan, 1996 • Business accounting… Sumeria, 7500 BC • Mobile computing… specs: Alan Kay, 1968. Touch screen: GridPad, 1989. MP3: MPMan, 1998. • Real-time multiplayer online game… Habitat, 1985 • Online grocery ordering/delivery… Webvan, 1996 Brand New Ideas? www.Mironov.com
  • 6. Venture Capital (Funded Ideas) $37B $47B €17B $NZ1B www.Mironov.com
  • 7. • Local expert within single company or group • Generalize from unique combination of systems, processes, organizations, goals, roles • “That’s how we do it at my company” • Easy to ignore opinions/situations of others • Imagine themselves as “the customer” Experts Bring Deep Unconscious Bias www.Mironov.com
  • 8. Most of the success / failure of a product is determined before we assign our first developer or fill out our first story card. www.Mironov.com
  • 9. • For a narrow audience (qualifications) • Who say they have this problem (their words) • And will pay for a solution (value) • That delivers better results than alternatives (metric) • Within their context (processes, systems, assumptions) Validation: Define Problem First www.Mironov.com
  • 10. Customers are experts in what they want to achieve, not how to achieve it. - Alex Osterwalder
  • 11. • Markets are complex and surprising • Your initial theory is always (partly) wrong • You learn from customers and prospects • What’s the pattern? Who are the outliers? • Rule of thumb: you need 20+ in-depth interviews to start seeing patterns Theory vs. Discovery www.Mironov.com
  • 12. • You are selling when you… • Do most of the talking • Anticipate objections, plan your arguments • Understand the material • Want to “close” in the meeting • You are listening when you… • Ask open-ended questions, be quiet • Take notes • Repeat for clarification • Expect to be surprised, hope to hear “NO” Are You Selling or Listening?
  • 13. • Confirmation bias • Troll for “yes,” explain away “no,” misremember, overgeneralize • Availability bias • Overweight/remember most recent instances • Authority/bandwagon bias • Executives say this is true • Chooser/user bias • CAB attendee overstates minimal user feedback Stay humble, anticipate your own biases Validation Biases www.Mironov.com
  • 14. • Get inside their heads • 30+ minute in-person interviews • Open-ended questions • Record session or take good notes • Ask about… • How their business* works • What they name things • What keeps them awake at night (pain) • Current solutions, alternatives, shortcomings, competitors • How they justify spending (ROI) Extended Interviews 14www.Mironov.com
  • 15. How did 15-30 prospects… • Describe their pain points? Urgency? • Say they would score/measure success? • Get purchase approval? • Identify existing systems, environment, processes? Listening/Learning Enables Selling www.Mironov.com
  • 16. • Founders “sell” all day: investors, staff, customers • Salespeople answer objections to get to “yes” • Someone must be segment-focused instead of account-focused, objective, realistic/pessimistic, sweating details and practicalities. Internally, who tells the absolute ugly truth? This Is Really Hard www.Mironov.com
  • 17. There’s nothing more wasteful than brilliantly engineering a product that doesn’t sell. www.Mironov.com
  • 18. At your startup, someone “plays” Product Manager
  • 19. Balance exec enthusiasm with honesty • Market fit, whole product, real value • Scalable revenue vs. individual deals • Long-term customer relationships Why Do We Need Product Managers? www.Mironov.com
  • 20. • Need • 3+ years experience as actual product manager, with product manager title, on revenue products. Experience pushing back on execs. • Not substitutes • SME or deep technical expert • Eager volunteer from another role • Scrum master/project manager • “I did something just like that” Choosing Your First Product Manager www.Mironov.com
  • 21. 1. Product-market fit is life-or-death for your company 2. Rigorous, honest validation (now) enables scalable selling (later) 3. Customers always propose (wrong) solutions to their problems 4. Product management validation balances founder enthusiasm Takeaways www.Mironov.com
  • 22. Rich Mironov Mironov Consulting San Francisco, CA, USA www.mironov.com +1-650-315-7394 rich@mironov.com @richmironov