Virtual Prototype

January 6, 2018 | Author: Anonymous | Category: Arts & Humanities, Communications, Marketing
Share Embed Donate


Short Description

Download Virtual Prototype...

Description

Build the tallest freestanding structure The entire marshmallow must be on top

Use as much or as little of the kit Break up the spaghetti, string or tape The challenge lasts 18 minutes

Certainty / Known

Traditional Management

Uncertainty / Unknown

Entrepreneurial Management

Uncertainty = Assumptions

“Get the heck outside the building!” –Steve Blank



The goal is to fail fast and inexpensively



Redefine failure  The only failure is wasting your time and money

when you could avoid it ▪ 1000 Markets Example



Common Learning Traps    



Confirmation bias Motivation bias Familiarity bias Superstitious learning

Goal: Listen to understand the world as it really is  Attitude of wisdom  Willingness to be wrong and to fail  Example: Mike Cassidy, Xfire



Experiment with virtual prototypes



Identify your assumptions and turn them into facts



Power in low cost, simple, rapid  Example: Jam experiment  Example: Classtop and the $300 software

package

Which Problem Is Worth Solving (Nail the Pain)

Which Solution Solves that Problem (Nail the Solution)



Objective:  Discover the Monetizable Market Pain ▪ Discover the “job” your customer is trying to get down without being biased by the solution

 Develop the Big Idea Prototype 

Steps: ▪ ▪ ▪ ▪ ▪



Step 1: Don’t build anything Step 2: Write down Monetizable Pain hypothesis Step 3: Write down Big Idea Prototype Step 5: Quick test with customers Step 5: Quick exploration of markets

Test:  Customers return your cold call



The bigger the pain the easier to build a business  Motive Communications ▪ Problem search

What about Instagram?



Customer observation and empathy  Put yourself in your customers shoes?  What keeps them up at night, causes them

trouble, leads them to develop work-around? 

Test your assumption with customers



Example: Motive Communications



Step 1: Profile customer segment  I am ___________________________(who, with

at least 3 characteristics)  I am trying to ___________________ (outcome/job trying to solve)  But it’s difficult because ___________(identify problems/barriers)



Step 2  Story board of the journey of how customer solves



Step 3

 Identify biggest pain … do root cause (five whys)



Step 4

 Identify most important root cause



Step 5

 What questions do you need to answer about the root

cause  Who could you talk to in order to answer these questions?



Objective:  Discover the Minimum Feature Set that drives

purchase 

Steps: ▪ Test 1: Virtual Prototype Test ▪ Test 2: Prototype Test ▪ Test 3: Solution test



Test:  Customers purchase

Most entrepreneurs build products …

Customers don’t want



Achieve Product / Market Fit  Exact match between pain and

solution



Prototypes  From virtual

prototypes to actual prototypes



Minimum Feature Set



Can be  Drawing  Powerpoint  Video



Test  What will customers purchase ▪ Even before you build it



If you had to sell a customer today …  For the skeptics … AtTask



Objective:  Discover customer buying process and unique sales

process for your customers 

Steps: ▪ Test 1: Buying process discovery ▪ Test 2: Market infrastructure discovery ▪ Test 3: Pilot customer validation

Customer Awareness

Customer Evaluation

Customer Purchasing

Customer Use

5 Target Customer 4 Advertising / Marketing / Social Media 3

Influencers 2 Partners 1

Company



Draw a map of customer buying process



Prioritize 3 most important inflection points



Set two dates on your calendar to investigate



Objective:  Validate financial model & ignite business model



Steps ▪ ▪ ▪ ▪ ▪



Leverage customer conversations to predict business model Validate the financial model Iteratively launch product and go-to-market strategy Business dashboard with continuous information flow Adjust speed depending on market type

Examples:  Webvan  Webmetrics, Knowlix, Yahoo



Objective:  Scale discovered model until it breaks ▪ Phase change recognition & management ▪ Recognize changes ▪ Shift process, structure and employees ▪ Emphasize with visual management

▪ Consciously define culture ▪ Succession and transition ▪ Leaping between markets



Examples:  Intuit, Fusionsoft, Craigslist, SodaStart, IMVU

Product development  Before you build anything:  Identify hypotheses about customers  Test those hypotheses as cheaply as possible  Identify exactly customer pain and your solution with

customer  Use a virtual prototype 

Sales development  Discover exactly how customers buy  Develop a replicable sales model

View more...

Comments

Copyright � 2017 NANOPDF Inc.
SUPPORT NANOPDF