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WHO IS THIS GUY DOMINIC?● Co-Founded GarmentValet● Co-Founded Curebit / Talkable
Now I’m @DistroDom @500 Startups investing time and $ in promising startups #500STRONG
@DistroDom - #WMD2015
WTF is this Smoke Test?
WAY TO PROVE THAT YOUR PRODUCT BACKLOG IS WORTH IT
task: validate do
@DistroDom - #WMD2015
LET’S RUN A PROCESS
1. What is the MINIMUM PROOF You Need?2. How can you get that proof with NO ENGINEERS?3. Drive the RIGHT TRAFFIC to your experiment4. MEASURE Conversion5. Analyze and OPTIMIZE6. Make a DECISION
@DistroDom - #WMD2015
Vs. This Design
- Asked for email and zip before live
- Had a <3% Email Capture Rate
@DistroDom - #WMD2015
RESULTS
<= 30% of visitors entered their
zipcode&
25 % of people entered their
email =>&
10% shared
@DistroDom - #WMD2015
“TYPICAL” PRODUCT WAY
BUILD a New Feature Called “Add To Box”(~2 Weeks)
PLAN a New Feature Called “Add To Box”
(~1 Week)
TEST & RELEASE
a New Feature Called “Add To
Box”(~1 Week)
ONE MONTH POTENTIALLY WASTED
@DistroDom - #WMD2015
“TYPICAL” PRODUCT WAY
LAUNCH(THAT DAY)
PLAN IDEA => HACK
(~1 hour)
MAKE $$$$ BOoooOM
:)
And the RESULTS….
@DistroDom - #WMD2015
FIRE
● 9.55% of Active Subs converted
● Overall monthly gross profit grew by 45% because of this feature
● Marginal gross profit per PijonBox, on those boxes, grew over 357%.
●
@DistroDom - #WMD2015
BUT EVEN IF WE LOST….
● Saved a month of dev time● Learned about our customers● FELT GOOD AS A TEAM●
WE WOULD HAVE STILL WON!!
@DistroDom - #WMD2015
@DistroDomwww.facebook.com/dominic.coryell
HUSTLE WITH ME
@DistroDom - #WMD2015