Session 4 - Ignitor Bootcamp - 3 July 2015

Building great products

INGITE CANVAS

CAN YOU FIND EARLY ADOPTERS?

CAN YOU SELL EARLY ADOPTERS?

CAN YOU BUILD A PRODUCT THEY LOVE?

?

Can you… get lots of customers?

Minimum variable product

Building products customers love

• Build products customers want (MVP)

• Create a great user experience (Customer feedback)

Minimum Viable Product

Minimum variable product

MVP definition: A product you can create quickly that customers will

use/buy

People

Knowledge

Resources

Market GapPlan

Market Research

Causal thinking (PERFECTION THINKING)

Opportunities

Knowledge

People

Resources

Outcome

Outcome

Outcome

Outcome

Outcome

Outcome

(Imaging a possible new end using a given set of means)

Effectual thinking (MVP thinking)

Gum trees

Piping

Library books

Bicycle pump

Motivation to help

Perfect vision with required resources.

Work with the resources we have.

Lesson: Leverage other businesses

2 hour seminars Book

Lesson: Be creative with delivery

ANAT FOOD CHAINFLEE MARKET STAND

Lesson: A low cost way to deliver the product

Lesson: Manually deliver the product

Skinned Wordpress sight Filemaker to create PDF coupons and emailed

Lesson: Use existing tools and products

Lesson: Do it manually

Online MVP tools

Customer feedback

Example 2: Pinterest Average user spends 89 minutes per month

Example 3: Gmail Paul Buchheit “make 100 users happy”

Retention curve

How would you feel if you can no longer use [product]?

• Extremely disappointed • Very disappointed • Moderately disappointed• Slightly disappointed • Not at all disappointed

Retention rates

CAN YOU… build a product customers love? Customer definition

MVP

Expected result

1 Define customer segments

Actual result

Insight

2 Choose MVP

3 Write expected result

4 Build MVP

5 Prepare for user interviews

6 Interview and/or observe customers

7 Analyse results

8 Record experiment

Interview customers

• Get out of the building

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

• Everyone should have run at least 3 experiments

• Feel free to ask for help from Justin or Paul after each round of interviews

• Return at 13:00 for next presentation

Session to do list (09:30 to 14:00)Goals • Mentor session• Run at least 2 experiments (1 to 2 hrs per experiment)• At least 10 to 40 customer interactions (At least 5 customers per

hour)

Prepare to announce • Number of experiments run • Number of customer interactions