An Iteration Method for the Solution of the Eigenvalue Problem of
Iteration After Problem/Solution Fit
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Transcript of Iteration After Problem/Solution Fit
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Iteration After Problem/Solution Fit
Isaac SouweineHead of Product @ Frank & Oak
Preso to Fall 2014
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I. what do you do?
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you have a startup!
Biz co- founder
Tech co- founder
AWESOME CO.
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your startup has a product!!
Biz co- founder
Tech co- founder
AWESOME CO.
Our Product
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you want customers to use that product, so you tell them about it
Biz co- founder
Tech co- founder
AWESOME CO.
Our Product
Customers
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your customers tell you (or show you) what they think of your product
Biz co- founder
Tech co- founder
AWESOME CO.
Our Product
Customers
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you improve your product based on their feedback or actions
Biz co- founder
Tech co- founder
AWESOME CO.
Our Product
Customers
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this is iterative product development. for most* early stage web startups, it is all you need to know about right now.
*things change if you cannot easily iterate on your product, e.g., hardware
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here’s a more popular iteration diagram (with one addition)
LEARN
MEASURE BUILDMARKET*
*the addition
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III. what should you iterate on?
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this is a lean canvas
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your job is to fill the canvas with hypotheses
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and then prove or pivot them
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right now, you are probably about here
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which is to say that you’re here
- you’ve identified a real problem and a way to solve it- your solution has come to life in a product- you’re working to improve the product - you’re searching for scalable customer acquisition- you have some sense of key metrics you’re working on- you have a bit of revenue (optional)
Problem/Solution Fit
Your Startup Product/Market Fit
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if so, you should be focused here
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1. your product
● landing experience ● 1st time experience● core product experience
○ for user type 1○ for user type 2
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2. your marketing
● traffic sources● marketing message
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3. intersection of product and marketing
● click through experience● email● referrals and virality● etc.
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IV. let’s look at some examples
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product stuff that brownie points could be iterating on
● new merchant onboarding● merchant dashboard● in store user experience (e.g. QR code)● what else?
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marketing stuff brownie points could be iterating on
● merchant demand drivers● merchant sales collateral● app demand drivers● in store marketing● what else?
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product stuff that selective few could be testing
● landing experience● product display on site● product assortment on site● email flows● viral hooks (refer a friend) ● what else?
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marketing stuff that selective few could be testing
● paid search● paid display (aka FB)● social● referral ● email● what else?
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V. how should I iterate?
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know your metrics
● computable● accessible● intuitive● less is more
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make it happen
● don’t be stealthy● move fast b/c you have to
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make it count
● test things you believe in● seek meaningful results● seek actionable results● be serious about testing methods
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● don’t overbuild● don’t underbuild● make sure your sample is valid● trust your instinct
practice upaya (skillful means)
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@sonofsarah
THANK YOU and HAPPY ITERATING