Strategies for building successful products

October 2013

Strategies for building successful products

#Tech4Africa

@annua

Product Development

Launch

ConcepConceptt

Product dev

Alpha/Beta Test

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

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

Startup is Not a Smaller Version of a Large Company

Improve Invent

New

Experiment

Pivot

Learn

Search

Existing

Forecasts + Plan

Execution

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

?

Think Big, start small

Build, Measure, Learn loop

Measure

ProductData

Build

Ideas

Learn Minimize the total time

through the loop

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

Dropbox’s MVP

Dropbox’s MVP : A video

Beta waiting list jumps from 5000 to 75 000 in one day

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

Learn more

• The Lean Startup - Eric Ries

• The four steps to epiphany - Steve Blank

• Thank you to @cynthiaaug