andy rachleff, wealthfront presentation at lean startup sxsw

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Customer Development Andy Rachleff Founder & CEO

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

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Page 1: Andy Rachleff, Wealthfront Presentation at Lean Startup SXSW

Customer DevelopmentAndy RachleffFounder & CEO

Page 2: Andy Rachleff, Wealthfront Presentation at Lean Startup SXSW

Those who can’t do, teach.

Page 3: Andy Rachleff, Wealthfront Presentation at Lean Startup SXSW
Page 4: Andy Rachleff, Wealthfront Presentation at Lean Startup SXSW

Customers(Demand)

Managers(Supply)

Page 5: Andy Rachleff, Wealthfront Presentation at Lean Startup SXSW

Always start with a measureable customer

hypothesis

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

Page 6: Andy Rachleff, Wealthfront Presentation at Lean Startup SXSW

Our First Version (The Concierge Model)

Page 7: Andy Rachleff, Wealthfront Presentation at Lean Startup SXSW

Crawl before you walk.

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

Lesson #1

Page 8: Andy Rachleff, Wealthfront Presentation at Lean Startup SXSW

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Page 11: Andy Rachleff, Wealthfront Presentation at Lean Startup SXSW

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Page 12: Andy Rachleff, Wealthfront Presentation at Lean Startup SXSW

Understand the most important attribute of your product.

Lesson #2

(For us, it’s simplicity)

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Page 19: Andy Rachleff, Wealthfront Presentation at Lean Startup SXSW

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

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

Lesson #3

Page 20: Andy Rachleff, Wealthfront Presentation at Lean Startup SXSW

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Page 21: Andy Rachleff, Wealthfront Presentation at Lean Startup SXSW

Not everyone should like your idea.

(Don’t be afraid to take risks)

Lesson #4

Page 22: Andy Rachleff, Wealthfront Presentation at Lean Startup SXSW

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

Page 23: Andy Rachleff, Wealthfront Presentation at Lean Startup SXSW

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

iterate than to execute.

The Most Important Lesson