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This presentation was given to the participants in Boston's 2013 Lean Startup Challenge on day 1 of bootcamp by Brian Gladstein of Explorics. Our teams had filled out their Lean Canvas, so this session and workshop was designed to help them put together a plan for generating hypotheses and conducting interviews to validate the elements of their canvas. Topics covered: - Finding the gaps in your lean canvas - Introducing the concept of customer development as a way to fill those gaps - What is problem-solution fit - What is product-market fit - Creating hypotheses for customer discovery - Segmenting your target customers - Prepping for customer interviews
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Customer Development
Designing the customer you want September 21, 2013 | Boston, MA
We are getting ready to get out
and talk to people
take a look at your lean canvas
value creation how you create value – the problem you are solving
value capture the money
value delivery getting value into the hands of customers
where is your biggest gap?
customer development is
a pathway to address the gaps in your lean canvas
product development
is to [coding, machining,
formulating]
customer development
is to ???????
as
product development
is to [coding, machining,
formulating]
customer development
is to [interviewing, surveying, pitching]
as
product development
is to something
someone buys
customer development
is to ??????
as
product development
is to something
someone buys
customer development
is to how someone
buys it
as
the big picture
SDSTOPS STOP Customer Validation
SDSTOPS STOP Customer Creation
SDSTOPS STOP Customer Discovery
SDSTOPS STOP Company Building
Iteration Execution
Turn hypotheses into facts
Identify scalable and repeatable sales model
one level deeper
problem-solution fit
problem-solution fit
product-market fit
product-market fit
customer discovery
• State your hypotheses
• Test the “problem”
• Test the “product”
• Verify
hypotheses
Customer/Problem Hypotheses
• Types of customers / archetypes • Magnitude of the problem • Visionaries • A day in the life of a customer • Organizational impact • ROI justification • Problem recognition • Minimum feature set
Product Hypotheses
• Features • Benefits • Product delivery schedule • Intellectual property • Total cost of ownership • Dependency analysis
hypotheses
Distribution/Pricing Hypotheses
• Distribution model • Distribution diagram • Sales cycle / ramp • Channel strategy • Pricing (ASP, LTV) • Customer organization map • Demand creation
Demand Creation Hypotheses
• How do competitors create demand? • How will you? • Dave McClure’s AAARR model • Who are influencers / recommenders? • Key trade shows? • Key trends? • Start assembling advisory board
hypotheses
Type of Market Hypotheses
• Positioning and Differentiation • Existing market: the product is the basis of competition • New market: creating the market is the basis of competition • Redefine existing market: resegmenting the existing market is the
basis of competition
Competition Hypotheses
• Who is out there? • Why are they important? • How do customers use them today? • What don’t customers like about them?
Exercise 1: State your hypotheses Customer / Problem Product Distribution / Pricing
Demand Creation Type of Market Competition / Alternatives
• State your hypotheses
• Test the “problem”
• Test the “product”
• Verify
Get out of the
building!
But... who ya gonna call?
customer segments
why segment?
http://www.youtube.com/embed/LQqq3e03EBQ
price
flexibility
customer experience
service
a segment is
• an identifiable group of people
• who buy
• a common good or service
• for a common reason
describing your customers
• Markets you serve
• Geographic regions
• Business or consumer
• Demographic
• Life stage
• Economic dynamics
• Size of segment
• Titles and associations 34
Who they are + how to find them
Where they gather + can easily qualify
Don’t know where they gather + can easily qualify
Don’t know where they gather + deep qualification
There is no way to qualify them
A B C D F
how identifiable is your customer?
Exercise 2: Your segment Persona Where they gather
How you qualify Why they care (problem hypothesis)
Tools for talking to customers
38
http://www.ted.com/talks/simon_sinek_how_great_leaders_inspire_action.html
People don’t buy what you do. They buy why you do it.
Simon Sinek How Great Leaders Inspire Action
39
Milkshake marketing: what is the job the customer is hiring our product to do?
http://www.youtube.com/embed/VmbSpTJXozk
Clayton Christensen Market Disruptions & Online Learning
customer empathy map
your test plan
• What part of the lean canvas do you want to test?
• Who will you test with?
• How will you reach them?
• What is the test?
• How will you measure?
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