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How to make a Rock Star Product?
- 1. How to make a Rock Star Product? Tanguy Lesselin
- 2. Start-up failure rates • 1000 business plans • 6 get funded • 40% survive (=2.4) • <1% get big (<0.06) • 0.1% are big hits In a million projects, less than 10 become big hits Source: http://bit.ly/startupfailurerates
- 3. is the minimum you are going to spend on product development
- 4. GET TO PRODUCT-MARKET FIT FAST
- 5. What is a Rock Star product?
- 6. EMOTIONS
- 7. VALUE
- 10. How to make it?
- 12. Perspiration Passion Method Vision Rock Star Product
- 13. Traditional method: not good Waterfall Strategy Design Launch Development • Smart strategy • Great design • Great development team • Big launch that generates sales Assumes the problem and the solution are known
- 15. Agile / XP programming Product Owner Assumes problem is known and solution unknown Source: Devzombie.com
- 16. Customer discovery and Agile Problem and solution supposed to be unknown. Closer to reality and more flexible. Source: Eric Ries and Steve Blank
- 17. Product Market Fit stage is critical Before PMF After PMF Measure, Iterate, Pivot Build the business and scale • Test major hypotheses • Optimize key levers • Quick and Dirty mode • Product scalability • Lowest cash burn • Maintenance • High cost of technical debt
- 18. You have to read these books
- 20. What are we talking about? Xiaodan Wang - ThoughtWorks Andy Marks - ThoughtWorks • What is a good product? • Quality vs Speed in product • How to get superior design? development • How to find good UX people? Tanguy Lesselin • The 3 biggest traps in Product Development? • Building a UX / feature map • A few personal advice
- 21. The 3 biggest traps in product development
- 22. 1 – Working hard on growing one tree +80% checkout conversion +15% repeat orders -30% cost of acquisition
- 23. Instead of getting plugged to the Deep Forest
- 24. 2 – Believing that adding will make it Source: Nerd Watch Museum
- 26. 3 – Not listening
- 27. You are ignorant and should act as such
- 28. Building a Product feature User Experience Map
- 29. Get ideas and quantify Ideas Quantify Benefits (*) Quantify cost User story / features Expected Development Actual Benefit time Result A- I want to pay on a single page +20% 3 +80% B- I want to zoom on product pictures +5% 0.5 +10% C- I want to pay in one-click +30% 1 +15% D- I want to get real time alerts on deals +10% 1 +5% E- Iterate registration page +30% 3 +10% … * Although it may look impossible to quantify, you need to give it a try by asking triangular questions to your customers, measuring current importance / satisfaction levels, making data checks on previous similar modifications (inductive reasoning), making guesses
- 30. Map your ideas 35% Impact of feature 30% C 25% A 20% 15% 10% D 5% B 0% 0 1 2 3 4 Cost of feature
- 31. Implement based on ROI / slope 70% 60% A • Give priority to Cumulative benefit 50% D low cost features 40% B for same ROI 30% C • Most 20% often, features 10% should be 0% released in 0 2 4 6 clusters Cumulative cost
- 32. Expected returns materialize only if you continuously simplify
- 33. The last few words • Define what “Done” means and do not compromise on it • Set-up Scrum from the beginning • Get developers to make demos to your team
- 35. Presentations • Build and motivate your dream team: http://www.slideshare.net/tlesselin/firing-up-your-dream-team • Getting start-up financing in Singapore: http://www.slideshare.net/tlesselin/120524-financing-slideshare • How to make a Rock Star product:
Editor's Notes
- You can basically fix the rest
- You can basically fix the rest