building a product
TRANSCRIPT
India’s First Coding Bootcamp(2014)
World’s fastest and easiest website builder. (2015)
Patent Pending FX trading tool(2011)
Product = Business
Idea Validation: Type 2
Examples of most abused
user acquisition models:
● Free rides
● Free food delivery
● Free home services
● Free blah blah blah
Basically, on-demand
business models - popularly
known as ‘Uber for X’ model.
Idea Validation: Type 1
● So basically build nothing
and then try to sell it.
● Set up just a landing page
with your product specs.
See how many it excites.
● Go ahead and build your
product if at least 50
people pay for it.
● Friends, family, relatives,
in-laws - they don’t count.
Building the product
● Decide upon the bare minimum features that you can ship you product with.
● Have a product roadmap with milestones:
○ 1-100 Users: Feature A-C.○ 101-500 Users: Features C-M○ 501-999 Users: Features N-Q
● Test the efficiency of the existing features before adding new.
● Prioritization (Bugs/New Ideas/Big Ideas)
● Build > Release> Test> Repeat
User Experience:
Build at least ONEremarkable,extraordinary feature inyour product that yourcustomers would want tocome back for, or talkabout it to their friends.
User Experience
● Do not ever think youcan predict the userbehaviour. You justcan’t. No one can.
● Optimize the useronboarding experienceby simplifying the path.
User Experience: A/B Test
Analytics
● Thumb rule: Do notlaunch withoutimplementingAnalytics*.
● Analytics is the way you’llget to know how your useractually uses yourproduct.
● Use these insights torefine, tune up andoptimize your product andconversions.
*not sure how to implement? Ask me!
Growth.
There is only metric in
this world that’s
important. And that is
your Growth metric.
If your product* needs
a sales guy to explain
people why they
should consider using
it - You’ve already lost.
How many users you
had yesterday? How
many you’ve today?
Tomorrow? You should
be green every day.
Automate the Hell
out!
User retention is more important
than User Acquisition. *Valid in case of
web/internet
consumer products
Taking the leap
Thank you!!!