start-up advice on product development (steps and challenges)
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Product DevelopmentPedro Bizarro – CSO/[email protected]
Product Developmentor how to transform ideas into products
Step 1Identify
mega-trends
Smartphones everywhere
People living to 100
DNA sequencing is cheap
Technology/Society/Policy/…
Step 2Identify mega-truths
Cheaper is better
Easy beats free
People love communicating
Step 3Identify barriers
Legal barriersPhysical barriers
InternationalPatents
Step 4Identify competitorsand state-of-the-art
It is a race!
Opportunity IdentificationIdentify mega-trendsIdentify mega-truths
Identify barriersIdentify competitors and SofA
Step 5How big isyour idea?
Improved feature?New feature?New product?
New company?New industry?
Step 6How big is the
market you want to conquer?
Greater than1000M €?
Can you get10%?
Step 7What is the
value of the idea?
The “so what” test!Can you charge twice as much if your site loads twice as fast?
Step 8What is the perceived cost of your idea?
Migration of data
Disruption of previous solution
How to reduce the cost?
How to wrap it?
Opportunity ValueHow big is the idea?
How big is the market?What is the value of the idea?What is the cost of the idea?
Step 9Generate alternatives
Internal brainstormsBrainstorms with clients
Plans B, C, D
Step 10Benchmark alternatives
No biases!
Step 11Test before you build it
Mock ups and fakesPrototypes
Proof-of-concepts
Step 12Test after you build it
Usability tests with real clientsHarsh friendsYour mother
Brainstorm & BenchmarkingGenerate alternatives
Benchmark alternativesTest before you build itTest after you build it
Challenge #1Must be 10x better
than The Incumbents
Corollary:Only a “crazy” person
buys from a startup
“Nobody gets fired for buying IBM”
Challenge #2Must be 10x faster
(with little resources)
Iterate fastRelease soon, release often
SummaryIdentify mega-trendsIdentify mega-truths
Identify barriersIdentify competitors and SofA
How big is the idea?How big is the market?
What is the value of the idea?What is the cost of the idea?
Generate alternativesBenchmark alternativesTest before you build itTest after you build it 10x bette
r
10x faste
r
Thank you!