Andy Rachleff, Wealthfront Presentation at Lean Startup SXSW

Post on 25-May-2015

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Andy Rachleff, President & CEO of Wealthfront Presentation at the 2012 Lean Startup SXSW, Austin

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Customer DevelopmentAndy RachleffFounder & CEO

Those who can’t do, teach.

Customers(Demand)

Managers(Supply)

Always start with a measureable customer

hypothesis

(It’s just the scientific method applied to business)

Our First Version (The Concierge Model)

Crawl before you walk.

(Pencil & paper can be just as valuable as software)

Lesson #1

2

4

1

5

Understand the most important attribute of your product.

Lesson #2

(For us, it’s simplicity)

6

7

8

9

10

11

You don’t need a designer to do customer development.

(It’s better to have a “UX developer”)

Lesson #3

11

Not everyone should like your idea.

(Don’t be afraid to take risks)

Lesson #4

Lessons Learned

Crawl before you walk

Understand the most important attribute of your product

You don’t need to be a designer to do customer development

Not everyone should like your idea

During the discovery phase, it’s more important to learn and

iterate than to execute.

The Most Important Lesson