Pivot to Find Product / Market Fit Frank V. Taylor

@frankvtaylor#leandc Ideation

Iteration - I Problem: Need cheap / safe / legal stress relief @frankvtaylor#leandc Customer: Students with $ on campus ID card Solution: Pay-per-use massage chairs with ID card reader payment system

MVP - I @frankvtaylor#leandc

Validated Learning 1 Assumption Tested: Students will use massage chairs to relieve stress. @frankvtaylor#leandc Experiment: 1 chair in library for 9 days (free) Result: 550 uses. Assumption Validated

Validated Learning 2 Assumption: Students will pay for the service. @frankvtaylor#leandc Experiment: Surveyed 170 users. Result: 50% reported willingness to pay. Assumption Validated (but suspect)

Important! People are terrible predictors of their own future behavior. @frankvtaylor#leandc

Working* Product @frankvtaylor#leandc

Iteration - II.a Problem: Stressed out students & negative perception on campus @frankvtaylor#leandc Customer: Student Assembly w/ big slush fund Solution: Sponsor free massages in the library during final exam week

Validated Learning 1 Assumption: Student Assembly will pay to help students relax & improve image on campus. @frankvtaylor#leandc Experiment: Pitched sponsorship. Result: Paid $8K. Assumption Validated

Iteration - II.b Problem: Money to spend? @frankvtaylor#leandc Customer: Student Center facility managers Solution: Provide free massages in the student center all year

Validated Learning 2 Assumption: This is a repeatable business model. @frankvtaylor#leandc Experiment: Pitched to 50 other schools. Result: 0/50 buy. Assumption Invalidated

Important! Test assumptions about customer behaviors that drive growth. @frankvtaylor#leandc

Iteration - II.a Problem: Stressed out students & negative perception on campus @frankvtaylor#leandc Customer: Student Assembly w/ big slush fund Solution: Sponsor free massages in the library during final exam week

Iteration - III Problem: Need to attract a captive audience @frankvtaylor#leandc Customer: Trade show exhibitors Solution: Provide free massages in trade show exhibit space

Validated Learning 1 Assumption: Event marketers will rent our massage chairs. @frankvtaylor#leandc Experiment: Pitched at industry event. Result: Restin unit too heavy. Invalidated.

Golden Nugget of Info @frankvtaylor#leandc Do you rent regular massage chairs...like the ones at Brookstone?

Validated Learning 2 Assumption: Event marketers will rent regular massage chairs. @frankvtaylor#leandc Experiment: Pitched via website & SEO. Result: Paying customers in 3 months. 6-figure revenue in 12 months. Assumption Validated.

Success! @frankvtaylor#leandc