PRODUCT, TALLWAVE
DAVE ALBERTSON
CEO, CO-FOUNDER, SHELVSPACE
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Myths & Truths - Building a Product презентация
Содержание
- 1. Myths & Truths - Building a Product
- 2. INTRODUCTION JESUS RAMIREZ Vice President, Product Tallwave
- 3. INTRODUCTION Dave Albertson CEO, Co-Founder Shelvspace
- 4. AGENDA Myth 1: You need to have
- 5. THE MYTHS
- 6. MYTH #1: YOU NEED TO HAVE A FULLY FUNCTIONAL PRODUCT TO APPROACH CUSTOMERS
- 7. MISCONCEPTION “Customers will be turned
- 8. REALITY #1 If you’re not
- 9. REALITY #2 If you wait until product
- 10. SUPPORTING FACTS: BUILDING PRODUCTS IS EXPENSIVE $$$
- 11. Early goal is to learn
- 12. TIPS: Use cheap rapid prototyping
- 13. MYTH #2: YOU ALREADY KNOW WHICH FEATURES USERS WILL LOVE MOST
- 14. MISCONCEPTION “I know more than my
- 15. REALITY #1: You’ll build a much
- 16. REALITY #2: Falling in love with
- 17. THE TRUTH: Count on your product changing;
- 18. EXAMPLES: The Point → Groupon: wrong
- 19. TIPS: Observe (don’t ask) your
- 20. MYTH #3: YOU NEED A TECHNICAL FOUNDER
- 21. MISCONCEPTION “Without a Chief Technology
- 22. REALITY #1 Best Technical Co-founders are
- 23. REALITY #2 Finding perfect marriage is
- 24. Designers/prototypers can often carry you further than
- 25. TIPS: Find great design prototyping
- 26. MYTH #4: YOU CAN APPEAL TO EVERYONE
- 27. MISCONCEPTION: THESE GUYS DID IT!
- 28. BUT THEY DIDN’T START THAT WAY
- 29. Reality #1 Lack of focus creates scattered efforts
- 30. Reality #2 You have limited capital
- 31. TRUTH: YOU CAN’T AFFORD TO FOCUS ON EVERYONE source: Crunchbase
- 32. TIPS: Target niche, but maintain
- 33. MYTH #5: YOU NEED PRODUCT IN MARKET
- 34. MISCONCEPTION “Investor will only invest
- 35. REALITY #1 Seed Investors invest
- 36. REALITY #2 It may take
- 37. More investors than entrepreneurs, sometimes not easy
- 38. TIPS: List on angel list
- 39. MYTH #6: YOU’LL BE AN OVERNIGHT SUCCESS
- 40. MISCONCEPTION “Successful startups made it big
- 41. Reality #1 False expectations can be
- 42. Reality #2: Worth spending time early
- 43. TRUTH: There is no such thing as an overnight success
- 44. “OVERNIGHT” SUCCESSES Angry Birds The mobile
- 45. TIPS: Buckle down, strap in
- 46. A 2-WEEK BUSINESS VALIDATION + UX
- 47. Questions?
- 48. Myths & Truths - Building a Product
INTRODUCTION JESUS RAMIREZ Vice President, Product Tallwave LLC Product designer, entrepreneur and problem solver. Helps early stage tech startups design and build products that users love through a human-centered,
Слайд 2INTRODUCTION
JESUS RAMIREZ
Vice President, Product
Tallwave LLC
Product designer, entrepreneur and problem solver.
Helps early
stage tech startups design and build products that users love through a human-centered, empathy driven design approach.
In a previous life:
DrFirst
Zazzle
Stanford d.school
In a previous life:
DrFirst
Zazzle
Stanford d.school
Слайд 3INTRODUCTION
Dave Albertson
CEO, Co-Founder Shelvspace
Product executive, entrepreneur, and startup advisor.
Build dynamic product teams and companies with focus on culture, design, and demand driven solutions.
In a previous life:
Intel
iCrossing
Infusionsoft
Слайд 4AGENDA
Myth 1: You need to have a fully functional product to
approach customers
Myth 2: You already know which features users will love most
Myth 3: You need a technical founder to get your idea off the ground
Myth 4: You can appeal to everyone
Myth 5: You need a product in market to raise capital
Myth 6: You’ll be an overnight success
Myth 2: You already know which features users will love most
Myth 3: You need a technical founder to get your idea off the ground
Myth 4: You can appeal to everyone
Myth 5: You need a product in market to raise capital
Myth 6: You’ll be an overnight success
Слайд 7MISCONCEPTION
“Customers will be turned away if the product is not fully
ready”
Pride, Perfectionism, Worry
Pride, Perfectionism, Worry
Слайд 8REALITY #1
If you’re not embarrassed by the first version of
your product, you shipped it too late”
Reid Hoffman, LinkedIn
Fail Fast, Learn, Find “Reach”
Reid Hoffman, LinkedIn
Fail Fast, Learn, Find “Reach”
Слайд 9REALITY #2
If you wait until product is built to approach your
customers, you lose opportunity to:
Identify the best problems to solve
Get better ideas
Be told that your idea stinks
Discover how to find more customers
Discover how to give customers what they want
Identify the best problems to solve
Get better ideas
Be told that your idea stinks
Discover how to find more customers
Discover how to give customers what they want
Слайд 11
Early goal is to learn
It’s easier than ever to build prototype
It’s
easier than ever to find and test users
It’s far riskier NOT to
It’s far riskier NOT to
THE TRUTH: A PROTOTYPE IS ALL YOU NEED TO APPROACH CUSTOMERS
Слайд 12TIPS:
Use cheap rapid prototyping tools such as InVision, UXPin, Solidify,
proto.io
Use cheap rapid prototyping resources such as Elance, fiverr, or oDesk
Partner with a UX / prototyping group
Be genuine with what you are doing, observe, and listen
Use cheap rapid prototyping resources such as Elance, fiverr, or oDesk
Partner with a UX / prototyping group
Be genuine with what you are doing, observe, and listen
Слайд 15REALITY #1:
You’ll build a much better product if you involve &
collaborate with your users
Different Points-of-View, Evangelists, Community
Different Points-of-View, Evangelists, Community
Слайд 16REALITY #2:
Falling in love with your original idea can stunt growth
“Startups
that pivot once or twice raise 2.5x more money, have 3.6x better user growth, and are 52% less likely to scale prematurely than startups that pivot more than 2 times or not at all”
Marmer, Max, Bjoern L. Herrmann, Ertan Dogrultan, and Ron Berman. Startup Genome Report. Rep. Startup Compass, 2011. Web. Oct. 2014.
Слайд 18EXAMPLES:
The Point → Groupon: wrong audience
Burbn → Instagram:
wrong functionality (post
plans, move location/check-in, post photos)
Слайд 19TIPS:
Observe (don’t ask) your users
Build prototypes & test new
ideas
Study metrics!
Be open to pivots, don’t fall in love with a single idea
Focus on the GOOD, kill the CLUTTER
Be shrewd with your product & user experience
Study metrics!
Be open to pivots, don’t fall in love with a single idea
Focus on the GOOD, kill the CLUTTER
Be shrewd with your product & user experience
Слайд 21MISCONCEPTION
“Without a Chief Technology leader I am dead in the water”
Paralysis,
Knowledge Gap
Слайд 22REALITY #1
Best Technical Co-founders are like VC’s -- they need validated
NEED & MARKET
Fit, Proof, Vision
Fit, Proof, Vision
Слайд 23REALITY #2
Finding perfect marriage is difficult, but much easier when you
know what you are looking for
Design, Culture, Platform
Design, Culture, Platform
Слайд 24Designers/prototypers can often carry you further than CTOs in the early
stages
Risk of a wrong fit is costly
Getting off ground first will often attract best talent and fit
Risk of a wrong fit is costly
Getting off ground first will often attract best talent and fit
THE TRUTH:
SOMETIMES ITS WORTH THE WAIT
Слайд 25TIPS:
Find great design prototyping skillsets
Ensure you understand market segment and
how they want to experience a solution before finding the right fit (e.g. iPhone, desktop, scaling requirements)
Your early tech co-founder may not be your CTO as you scale, ensure you have culture and vision fit
Your early tech co-founder may not be your CTO as you scale, ensure you have culture and vision fit
Слайд 28BUT THEY DIDN’T START THAT WAY
Originally focused on colleges, limited to
Harvard and few other Ivy League Schools
Originally limited to hosts w/ air mattresses willing to serve breakfast to guests
Started with books. Had a list of top 20 products, but chose books because of low cost and universal appeal
Слайд 32TIPS:
Target niche, but maintain broad appeal
Build a product few LOVE
vs. a product many SORTA LIKE
Focus on an acute entry point (e.g. deepest customer pain, market white-space, least resistance, inefficiencies)
Focus on an acute entry point (e.g. deepest customer pain, market white-space, least resistance, inefficiencies)
Слайд 34MISCONCEPTION
“Investor will only invest in product that works and growing”
Funding Sources,
Experience, Knowledge
Слайд 35REALITY #1
Seed Investors invest in the team and the belief
in your go-to-market plan.
Proof points, Storytelling , Business Model
Proof points, Storytelling , Business Model
Слайд 36REALITY #2
It may take hundreds of pitches, but the right
partners are out there.
Background, Desire for Change, Belief
Background, Desire for Change, Belief
Слайд 37More investors than entrepreneurs, sometimes not easy to find
Most investors will
tell you perceived gaps, they are not always right but you will learn from the themes
Be sure to share vision, team, and why you will win…….don’t over-focus on product
Be sure to share vision, team, and why you will win…….don’t over-focus on product
THE TRUTH: THERE ARE INVESTORS OUT THERE FOR ALL STAGES OF BUSINESS
Слайд 38TIPS:
List on angel list and other funding sources, talk to
whoever will listen
Build target of all investors you can find that match criteria, search for investors with your model or industry background
Prepare for full-time funding efforts, don’t give up, keep building and pitching until you get it right
Build target of all investors you can find that match criteria, search for investors with your model or industry background
Prepare for full-time funding efforts, don’t give up, keep building and pitching until you get it right
Слайд 40MISCONCEPTION
“Successful startups made it big overnight”
“I’ll build a product, users will
flock to buy it and in a few years I’ll sell/exit and drink champagne”
Wishful thinking, distorted perception
Wishful thinking, distorted perception
Слайд 41Reality #1
False expectations can be dangerous and lead to short-sighted decisions
Examples:
Short-term revenue vs long-term vision
New features vs user experience
Слайд 42Reality #2:
Worth spending time early on (while low cash flow) focusing
on right users, product offering & go to market
“Your startup is a learning machine to validate your business before you run out of money” - Eric Ries
“Your startup is a learning machine to validate your business before you run out of money” - Eric Ries
Слайд 44“OVERNIGHT” SUCCESSES
Angry Birds
The mobile game was a huge success. But Rovio
had been through 50 mobile games up to that point and almost went bankrupt before it hit big.
Was founded in 2007 and been around for 7 years despite being the poster-child for viral growth.
Founded in 2006 (8 years ago) and battled the US record labels for 4 years just to enter the US market.
OTHER NOTABLES
Evernote: Was founded in 2007 (7 years) despite it’s hardcore and loyal users.
Buffer: Was founded 2010 and just raised its first VC round.
Слайд 46
A 2-WEEK BUSINESS VALIDATION + UX PROTOTYPE SPRINT
Visualize your product
idea
Validate your product/market fit assumptions
Reduce development costs (code debt)
Demonstrate your product to customers and investors
TALLWAVE.COM/SANDCASTLE INFO@TALLWAVE.COM
Validate your product/market fit assumptions
Reduce development costs (code debt)
Demonstrate your product to customers and investors
TALLWAVE.COM/SANDCASTLE INFO@TALLWAVE.COM
Слайд 48Myths & Truths - Building a Product
December 12, 2014
PRESENTED BY:
PRESENTERS:
JESUS RAMIREZ
VP,
PRODUCT, TALLWAVE
jesus.ramirez@tallawave.com
DAVE ALBERTSON
CEO, CO-FOUNDER, SHELVSPACE
jesus.ramirez@tallawave.com
DAVE ALBERTSON
CEO, CO-FOUNDER, SHELVSPACE
