session 3 - solution interviews

Session 3

Update the customer problems and goals

Key reasons businesses fail is that their plan is based on false assumptions

Goal 1

Customer

Goal 2

Which of your initial Customers goal and problem assumptions are correct and

which were false?

Goal 3

Problem 1

Problem 2

Problem 3

Goal 1Customer

Goal 2Task (Time: 10 minutes)

1 Remove false assumptions

2 Add new problems and goals patterns

Goal 3

Problem 1

Problem 2

Problem 3

New problem

Product and features design

Minimum variable product

Great Idea

Great Product

Great Company

How do you build a great product with so little resources?

Build something a small number of user love

Source: YCombinator

Version 4Version 1 Version 2 Version 3

The only thing that matters is product/market fit

- Marc Andreessen

Feature 1

Goal 1 Customer

Goal 2

Feature 2

Product-Market fit happens when

The product helps the customers

1. Achieve their goals2. Solve their problems

Better than the current solutions

Feature 3

Goal 3

App to call a taxi

Get to my destination

Traveller

Taxi’s are expensive Rating of taxi

driver

Standard pricing

Drivers are rude

Arrive late & unreliable

Can’t hear the driver

Payment is hassle

Clean cars

Polite drivers

Feel Used /

Ripped off

Geo-tracking

Feature 1

Feature 2

Feature 3

Feature 4

Feature 5

Feature 6

Tasks (Time: 10 minutes)1. Add product, services and features

to your canvas

2. Ensure your product, services and features solve your customer problems

Messaging design

Create a story: Who?

Onhub Slow speedsHome

Wifi user

Shouldn’t Wifi be easier

Lost connections

CommunicationsWith an app

Not blinking lights

Starts fast and Stays fast

Hard to set up

Hard to trouble shoot

Juicero

Buy expensive fruit &

vegetables

HomeJuicer

Squashed Produce

Wash fruit and vegetables

Delivered to Your door

Taken care of everything –

washing, peeling, chopping, growing.

Assemble Juicer

Clean up juicerThere is Nothing to

clean

100% organic100% raw

Create a compelling one line pitch

The 4-hour Body

Real ad look at feel

1 human guinea pig

100+ Scientist consulted

10 years of experiments

Hold your Breath fo 5

minutes

Run 100 miles

Use credibility indicators and customer goals

Lift 500 pounds

Messaging best practice

1 Link messaging to problems

2 Clear one line pitch

3 Use credibility indicators

4 Use customer goals

Product Message 1

Message 3

Message 2

Task (Time 10 mins) 1 Add messaging and stories for your product.

2 Ensure that your messaging fits with your customer goals and problems.

Story 1

Story 2

Minimum viable product

Minimum variable product

MVP definition:

A version of the product or marketing that will help you learn

the most about customer behaviour with the least effort

How most startups launch

Business Plan LaunchProduct

Development

Learning happens here!Months / Years

A lean startup

Run Experiments

LaunchProduct

Development

Learn if idea will work!Months / Years

Warning!!! What happens if you don’t pre-sell?

0 /1700

Minimum variable product

What could they have done differently?

0 50 100 150 200 250 300 350 400

1 day

365 days

Do you want to waste 365 days?

Types of MVPs

0 100 200 300 400

1 Day

Months / Years

Slide Presentation

Full product

0 100 200 300 400

Days

Months / Years

Full product

Landing page

Landing page MVP

0 100 200 300 400

Weeks

Months / Years

Consulting MVP

Full product

Consulting

0 100 200 300 400

Days

Months / Years

Video MVP

Full product

Video

0 100 200 300 400

Weeks / Months

Months / Years

Crowdfunding MVP

Full product

Crowd funding

0 100 200 300 400

Weeks / Months

Months / Years

Audience MVP

Full product

Email list

0 100 200 300 400

Weeks

Months / Years

Wizard of Oz MVP

Full product

Wizard of Oz

0 100 200 300 400

Weeks / Months

Months / Years

Other people’s product MVP

Full product

CompetitorProduct

0 100 200 300 400

Days

Months / Years

Advert MVP

Full product

Online ads

0 100 200 300 400

Days

Months / Years

Feature MVP

Full product

Feature

To build a great product start small

Task (Time: 10 minutes)

1 Create a list of MVPs that you would be relevant for your product

2 Decide which MVP you will build first.

(Start with the MVP that will give you the most learning in the shortest amount of

time).

Solution interviews

Why do solution interviews? Can’t I just build my product and then sell it?

Interview script

1 Rapport

2 Customer indicator question

3 Give context

4 Demonstration

5 Pre-sales / price testing

6 Thanks

Questions1 Would you agree this is your biggest problem?

2 Demo product

• What features do you like?

• What features would be most useful?

• What don’t you like about the solution?

• Which features would you use every day?

3 After demo

• Do you think this will solve your problem?

• What could be improved?

• What would you change?

4 Pre-sales

• Do you want to be part of the pilot for X?

Questions1 Would you agree these are your goals and problems?

2 Demo product

• What features do you like?

• What features would be most useful?

• What don’t you like about the solution?

• Which features would you use every day?

3 After demo

• Do you think this will solve your problem?

• What could be improved?

• What would you change?

4 Pre-sales

• Do you want to be part of the pilot for X?

Questions1 Would you agree these are your goals and problems?

2 Demo product

• What features do you like?

• What features would be most useful?

• What don’t you like about the solution?

• Which features would you use every day?

3 After demo

• Do you think this will solve your problem?

• What could be improved?

• What would you change?

4 Pre-sales

• Do you want to be part of the pilot for X?

Questions1 Would you agree these are your goals and problems?

2 Demo product

• What features do you like?

• What features would be most useful?

• What don’t you like about the solution?

• Which features would you use every day?

3 After demo

• Do you think this will solve your problem?

• What could be improved?

• What would you change?

4 Pre-sales

• Do you want to be part of the pilot for X? Do you want to be put on the waiting list?

Solution interview with

Slide presentation

SponsorsFace to face

meeting5

InterviewsInterested in

running a pilot 2 / 5

Ran a pilot

There is sponsorship

money availabe

Build a sponsorship

model

Solution interview with

Slide presentation

SponsorsFace to face

meeting5

InterviewsInterested in

running a pilot

Task (Time: 10 minutes)1 Plan a solution interview experiment 2 Decide what MVP you will use to show the customer

Interview customers

• Get out of the building

• Conduct customer interviews (Phone or face-to-face)

• Aim to do at least 10 interviews

• Aim to run and analyse 2 experiments

• Next presentation at 16:30

• Feel free to ask for help from the team after each experiment

• If you are already up and running ask someone on the team to help

you design a relevant experiment for your business

1. Signed up to your landing page.

2. Purchased the product or service.

3. Pre-paid for the product or service.

4. Willing to pilot with solution with you.

5. Got excited by the solution you pitched to them.

How do you test if they will buy?

8 / 10Signed up

8 / 10Purchased

8 / 10Pre-paid

8 / 10Pilot

8 / 10Got excited

1. Get a single conversation (1/10). Understand why. Improve. Goal (10/10).

2. Create a high bar (8/10). Quickly invalidate ideas. Next idea.

3. Your current conversation ratio (?/10). Improve.

4. Statistical significance (95/99% level).

5. Financial model. What does conversation rate need to be for the business to

be viable?

How do you determine the conversation ratio?

? / 10Signed up

Solution Discovery Interview

8 / 10 Pre-paid

4 Preparing solution pitch

Solution Slide Presentation

Logo

Picture

Amazing one-line headline that is easy to understand and has key benefit in it.

Amazing sub-headline that is easy to understand.

CTA for offer

Social media buttons

Key benefit / feature

Description of feature / benefit.

Key benefit / feature

Description of feature / benefit.

Key benefit / feature

Description of feature / benefit.

Key benefit / feature

Description of feature / benefit.

Price 1 • Feature • Feature • Feature

Price 2• Feature • Feature • Feature

Price 3• Feature • Feature • Feature

Quote from problem / solution interviews.- Persons name

• Create a 3 page landing page of your solution• Use a landing page format • Time 30 mins

Slide 1

Slide 2

Slide 3