strategies for building successful products
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October 2013
Strategies for building successful products
#Tech4Africa
@annua
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Product Development
Launch
ConcepConceptt
Product dev
Alpha/Beta Test
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Problems...
• Where are the customers?
• Focus on the first customer ship date
• Emphasis on execution instead of learning and discovery
“The customer is the most important part of the production line” - Deming
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Definition of a Startup
“A startup is a human institution designed to create a new product or service under conditions of extreme uncertainty.” Eric Ries
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Startup is Not a Smaller Version of a Large Company
Improve Invent
New
Experiment
Pivot
Learn
Search
Existing
Forecasts + Plan
Execution
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Run Experiments
• A true experiment starts with a scientific method
•Begin with a clear hypothesis
•Test predictions empirically
Goal - Discover how to build a sustainable business
?
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Think Big, start small
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Build, Measure, Learn loop
Measure
ProductData
Build
Ideas
Learn Minimize the total time
through the loop
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Minimum Viable Product (MVP)
“The MVP is that version of the product that enables a full turn of the Build-Measure-Learn loop with minimum amount of effort and least amount of development time” - Eric Ries
Goal - Test fundamental business hypotheses
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Dropbox’s MVP
Dropbox’s MVP : A video
Beta waiting list jumps from 5000 to 75 000 in one day
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So...
• Favour experimentation over elaborate plans
• Emphasis on speed and nimbleness when moving through Build-Measure-Learn loop
• Assemble an MVP and elicit customer feedback
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Learn more
• The Lean Startup - Eric Ries
• The four steps to epiphany - Steve Blank
• Thank you to @cynthiaaug