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Product Strategy
aka the quest for product-market fit
1@mrclng
An introduction to
0 What to Expect From This Talk
Audience:
Early-stage startup founders
Content:
basic concepts
best practices
examples & tools
2
Pain Points, MVP, Customer Development
There are thousands of products out there that nobody asked for.
How can we make sure we build something people actually need?
3@mrclng
?
“I know the customer problem” and “I know the features to build”
are rarely true on day one in a startup
4@mrclng
!
Pain Points
aka where the money is
5
Product Strategy
@mrclng
1 Pain Points / Core Problems / Customer Needs / …
basis for VP & MVP
pick one (!)
mind difference: „want“ vs. „need“
6@mrclng
1 Pain Points: Some Questions
Do people know that this is a problem?
(How) are they expressing their frustration?
7@mrclng
1 Pain Points: Some Questions
Who is solving the problem today?
Is it already a business case?
8@mrclng
1 Pain Points: Some Questions
How are people solving the problem today?
There is always a solution.
9@mrclng
10
Hi, I’m Marc
…and I make product teams more efficient through customers
@mrclng + startups, + big multinationals… …#productstrategy, #UX, #acceleration
Minimum Viable Product
aka building a product by learning from your customers
11
Product Strategy
@mrclng
Make Validated Progress
aka building a product by learning from your customers
12
Product Strategy
@mrclng
2 MVP / MLP / MDP / Core UX / …
Minimum viable product:
helps you test demand
does not have to be a product
does not have to be software
≠ your ‘final’ product
13@mrclng
2 MVP / MLP / MDP / Core UX / …
A minimum viable product (MVP) is not necessarily the smallest
product imaginable, but whatever helps entrepreneurs start the
process of learning [from their customers] as quickly as possible.
@mrclng
“
Eric Ries,
Author of „The Lean Startup“
2 MVP: Examples for Great MVPs - Dropbox
15@mrclng
2 MVP: Examples for Great MVPs - Twitter
16@mrclng
From hypotheses to MVP to validated product with minimum effort
2 MVP: Examples for Great MVPs - Roomister
17@mrclng
From pivot to recurring sales in five days
2 MVP: Tools
18@mrclng
Customer Development
aka validated business building
19
Product Strategy
@mrclng
3 Customer Development / User Research / Rapid Prototyping / …
20@mrclng
You’re
here
The scientific method:
1.Observe and describe a phenomenon (pain)
2.Formulate a causal hypothesis to explain the phenomenon
3.Use a hypothesis to predict the results of new observations
4.Measure prediction performance based on experimental tests
21@mrclng
Observe -> Formulate -> Predict -> Test -> Learn -> Repeat
3 Customer Development: Customer Discovery
The three phases of Customer Discovery:
1. Problem-Solution fit: validate with prospects that you solve their
problem to the degree that they will buy it
2. MVP: build an MVP/a product that achieves (1) above and have it
validated with prospects
3. Sales Funnel: establish the customer's buying process & what you
have to do to move your customer through the funnel
22@mrclng
3 Customer Development: Customer Discovery
Customer interview dos & don’ts:
1. Have a domain expert on your team
2. Observe, study, then ask - avoid the lab
3. Ask the right type of questions (H&W)
4. Don’t ask wether they like your product
5. Write it down & evaluate
6. No false opportunism
7. Rinse & repeat continuously
23@mrclng
3 Customer Development: Customer Discovery
• Business Model Canvas
• Value Proposition Canvas
• User research (incl. observation)
• Different types of user interviews
• Design Thinking
• Rapid prototyping (e.g. w/ POP)
• Method Acting
24@mrclng
3 Customer Development: Tools
Go only as fast as you can learn.
25@mrclng
!
Appendix: Featuritis / Creeping Featurism / Bloatware…
26@mrclng
unnecessary
core
nice to have
Some final takeaways
Don’t fall in love with your ideas
All you need: team & vision & science
Think hypotheses, not ideas
Test your assumptions
Get out & meet your users
Observe & ask the right questions
Accept that sales starts on day one
27@mrclng
Thanks…
Ever tried. Ever failed.
No matter. Try again.
Fail again. Fail better.
@mrclng
“
Samuel Beckett,
Author, Nobel Prize winner

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Introduction to Product Strategy

  • 1. Product Strategy aka the quest for product-market fit 1@mrclng An introduction to
  • 2. 0 What to Expect From This Talk Audience: Early-stage startup founders Content: basic concepts best practices examples & tools 2 Pain Points, MVP, Customer Development
  • 3. There are thousands of products out there that nobody asked for. How can we make sure we build something people actually need? 3@mrclng ?
  • 4. “I know the customer problem” and “I know the features to build” are rarely true on day one in a startup 4@mrclng !
  • 5. Pain Points aka where the money is 5 Product Strategy @mrclng
  • 6. 1 Pain Points / Core Problems / Customer Needs / … basis for VP & MVP pick one (!) mind difference: „want“ vs. „need“ 6@mrclng
  • 7. 1 Pain Points: Some Questions Do people know that this is a problem? (How) are they expressing their frustration? 7@mrclng
  • 8. 1 Pain Points: Some Questions Who is solving the problem today? Is it already a business case? 8@mrclng
  • 9. 1 Pain Points: Some Questions How are people solving the problem today? There is always a solution. 9@mrclng
  • 10. 10 Hi, I’m Marc …and I make product teams more efficient through customers @mrclng + startups, + big multinationals… …#productstrategy, #UX, #acceleration
  • 11. Minimum Viable Product aka building a product by learning from your customers 11 Product Strategy @mrclng
  • 12. Make Validated Progress aka building a product by learning from your customers 12 Product Strategy @mrclng
  • 13. 2 MVP / MLP / MDP / Core UX / … Minimum viable product: helps you test demand does not have to be a product does not have to be software ≠ your ‘final’ product 13@mrclng
  • 14. 2 MVP / MLP / MDP / Core UX / … A minimum viable product (MVP) is not necessarily the smallest product imaginable, but whatever helps entrepreneurs start the process of learning [from their customers] as quickly as possible. @mrclng “ Eric Ries, Author of „The Lean Startup“
  • 15. 2 MVP: Examples for Great MVPs - Dropbox 15@mrclng
  • 16. 2 MVP: Examples for Great MVPs - Twitter 16@mrclng From hypotheses to MVP to validated product with minimum effort
  • 17. 2 MVP: Examples for Great MVPs - Roomister 17@mrclng From pivot to recurring sales in five days
  • 19. Customer Development aka validated business building 19 Product Strategy @mrclng
  • 20. 3 Customer Development / User Research / Rapid Prototyping / … 20@mrclng You’re here
  • 21. The scientific method: 1.Observe and describe a phenomenon (pain) 2.Formulate a causal hypothesis to explain the phenomenon 3.Use a hypothesis to predict the results of new observations 4.Measure prediction performance based on experimental tests 21@mrclng Observe -> Formulate -> Predict -> Test -> Learn -> Repeat 3 Customer Development: Customer Discovery
  • 22. The three phases of Customer Discovery: 1. Problem-Solution fit: validate with prospects that you solve their problem to the degree that they will buy it 2. MVP: build an MVP/a product that achieves (1) above and have it validated with prospects 3. Sales Funnel: establish the customer's buying process & what you have to do to move your customer through the funnel 22@mrclng 3 Customer Development: Customer Discovery
  • 23. Customer interview dos & don’ts: 1. Have a domain expert on your team 2. Observe, study, then ask - avoid the lab 3. Ask the right type of questions (H&W) 4. Don’t ask wether they like your product 5. Write it down & evaluate 6. No false opportunism 7. Rinse & repeat continuously 23@mrclng 3 Customer Development: Customer Discovery
  • 24. • Business Model Canvas • Value Proposition Canvas • User research (incl. observation) • Different types of user interviews • Design Thinking • Rapid prototyping (e.g. w/ POP) • Method Acting 24@mrclng 3 Customer Development: Tools
  • 25. Go only as fast as you can learn. 25@mrclng !
  • 26. Appendix: Featuritis / Creeping Featurism / Bloatware… 26@mrclng unnecessary core nice to have
  • 27. Some final takeaways Don’t fall in love with your ideas All you need: team & vision & science Think hypotheses, not ideas Test your assumptions Get out & meet your users Observe & ask the right questions Accept that sales starts on day one 27@mrclng
  • 28. Thanks… Ever tried. Ever failed. No matter. Try again. Fail again. Fail better. @mrclng “ Samuel Beckett, Author, Nobel Prize winner