product ideation and customer development
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You’ve got an idea. Now what?Product Ideation & Customer Development
Hiten ShahStartup Roots - Pier 38, San Francisco, CA • June 30, 2010
The Startup PyramidThe Race to the Top
Product / Market Fit
Transition to Growth
Growth
Sean Ellis: Startup-Marketing.com
• Low burn, focused on product, no VPs / sales people
• Customer Development (Steve Blank, Four Steps)
• Minimum Viable Product (Eric Ries, The Lean Startup)
• Pivots (Eric Ries, The Lean Startup)
Product / Market Fit
…the life of any startup can be divided into two parts – before product/market fit and after product/market fit.”Marc Andreesen, Founder of Netscape
“
• It’s all about learning and discovery
• Outlined by Steve Blank in Four Steps to the Epiphany
Customer Development
STOPCustomerDiscovery
STOPCustomerValidation
STOPCustomerCreation
STOPScale
Company
Pivot
• Coined by Eric Ries as part of The Lean Startup
• Lean Startups are a series of MVP’s
• Each designed to answer a specific question (hypothesis)
Minimum Viable Product
The minimum viable product (MVP) is often an ad on Google. Or a PowerPoint slide. Or a dialog box. Or a landing page. You can often build it in a day or a week.”Nivi, Venture Hacks
“
If Apple can launch a smartphone without Find or Cut-and-Paste, what can you cut out of your product requirements?”Lance Glasser, former CTO KLA-Tencor
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The first version of Gmail was literally written in a day”Paul Buchheit, Google / Friendfeed / Facebook
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My hypothesis is that twitter power users have a problem tweeting interesting things.
4,900+ tweets & 24,000+ followers
1 day1 developer
7,500 Twitter followers
Minimum Viable Product - Landing Pages
Landing Page Call to Action Survey
Landing Page
Call to Action
Survey
CrazyEgg Heatmap =)
I L♥ve Surveys
Market Intelligence
What are you up against?
Market Intelligence
Straight from the horse’s mouth!
Idea Validation
People will tell you what they want,you just have to ask!
Idea Validation
Qualifying Leads
Use key questions to filter your respondents
Lead Generation
People want to help you. They really do.
1 week1 developer
Saved 2+ hours per week
What’s next?
• Landing Pages
• CSS/HTML, Performable, Google Sites, Webs.com, etc...
• Survey Creation and Data Collection
• Wufoo, SurveyMonkey, FormStack, SurveyGizmo, etc...
• Traffic Sources
• AdWords, StumbleUpon, Twitter, Craigslist, Forums, etc...
• Analytics
• Google Analytics, KISSmetrics, ChartBeat, CrazyEgg etc...
Tools
Thank You!
Go to CustDev.com
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