Post on 18-Jan-2017
transcript
TRACK 8: Product Development
Illustrated with UNIspotter
Verena & Christoph
First things first:No, we are not a couple.
2. From idea to product
1. User Feedback
Plan gets into contact with first customers.
YOUR GUESS: Which StartUp is it?
Source: Business Plan, 2009
Advice: Check out their plan (google it)
YOUR GUESS: Which StartUp is it?
P.S. How did they finance themselves? $40.000 in credit card debts
Advice: Check out their first pitch deck
WHY?
What’s a StartUp?
«A startup is a temporary organization used to search for a repeatable and
scalable business model.»
„Temporary": a startup's goal is to cease being a startup, to graduate up to being a large business or
to fail and move on to another opportunity.
„Search“: businesses execute known business models (in a mature market) while a startup
searches for an unknown business model - in order to disrupt existing markets or even create new
ones.
Where to start searching?
Verify your assumptions one by one
„I love it“ a.k.a. Customer Bullshit Feedback
The MOM Test
You: «Mom, I have a business idea. Do you have 5 minutes?»
Mom: «Of course, dear.»
You: «You like your iPad and use it a lot?» Mom: «Sure, it’s great.»
You: «Would you buy a cookbook app?» Mom: «I love cookbooks, sounds nice. Does it come with vegan recipes? Or something for christmas?»
Source: The Mom Test, Rob Fitzpatrick
You: «Mom, when have you used your iPad the last time?» «For what?» «Have you ever used it in the kitchen?» «Have you ever bought an app? Which? Why? For how much?» «Do you use your cookbooks?» «Is there anything you dislike about them?» «What was the last cookbook you bought? When? Why?»
AND DON’T STOP.
Verify problems & needs. Build prototypes.
Test if the solution you developed is suitable. Best thing: You can start immediately.
Book Tip: The Lean StartUp
Learn from our mistakeslearningplaces.net
LearningPlaces.net = TripAdvisor for Study Programs
✓ Launched LearningPlaces.net ✓ 10.000 users ✓ 1500 comments on study programs from 30 countries ✓ paying clients (universities)
1) look for new ways to recruit students 2) online presence increasingly important 3) fierce competition with other universities 4) difficult to show USP
online reviews -> skeptical output -> not measurable
Questions
How to stay motivated?
How can I manage my life while working on a startup?
Don’t forget the „Coffee Breaks“When you work remotely it’s more difficult but also talk about personal things…
Picture from Roger -> Birthday Greetings
… like digital birthday wishes to team members
… or bad hair days
Communicate through the ups & downs.
About the good things.
Tell each other when they
did something great.
About doubts you have.
Tell others if doubts about project/team/
yourself.
Two Magic Questions:
1. How long will it take to implement?2. How big is the value for the user?
5th lesson: Prioritize
1st Lesson