uva innovations: ideas on accelerators

7/21/2019 UVA Innovations: Ideas on Accelerators

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Copyright 2014 Cowan Publishing

Running aSuccessfulAccelerator

Ideas &Practices

COWAN+


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ALEX COWANAlexanderCowan.com

@cowanSF

ABOUT ME

Entrepreneur (5x)Intrapreneur (1x)


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@cowanSF

ABOUT ME


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ABOUT ME

www.alexandercowan.com


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TWO PILLARS OF ACCELERATOR SUCCESS

PROCESS

PR

OGRAMM

ING


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PROGRAMMMING


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Personas

ITS A PROCESS

Some techniques are more effective than others.

But they all require substantial, consistent exertion.


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Copyright 2014 COWAN+

SCALE-FRIENDLY VS. INNOVATION-FRIENDLY

ScaleFriendly

Innovation

Friendly

$ !?

? ! ? ? ?


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THINK SEE

FEEL DO

PERSONAS

Who?

X

PROBLEMSCENARIOS &ALTERNATIVES

What?

VALUEPROPOSITIONS& ASSUMPTIONS

What if?

!

USERSTORIES &PROTOTYPES

How?

Scale?

Pivot?

PRODUCT &PROMOTION

/

CUSTOMERDISCOVERY &EXPERIMENTS

Tell me?

THE VENTURE DESIGN PROCESS


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THE VENTURE DESIGN PROCESS (IN REVERSE)

!USERSTORIES &PROTOTYPES

Did the implementationdeliver on the story?

PRODUCT &PROMOTION

/


How did thecustomer/userreact?


!

Was theimplementedstory relevant tothe proposition?

X


Is problemrelevant? Is thepropositionbetter vs.alternatives?

THINK SEE

FEEL DO

PERSONAS

Do weunderstand thisperson? Whatmakes themtick?


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What?


PERSONAS

Who?

VALUEPROPOSITIONS

What if?

THINK SEE

FEEL DOX !


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@cowanSF

WHY IS DESIGN THINKING HARD?

Design Thinking

Now

Survival

Then


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Empathy Creativity

DESIGN THINKING


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02 DIAGNOSING USER NEEDS & PROBLEMS

The twin anti-poles of design failure

Doing preciselywhat the user asks

Assuming you know whatsbest and ignoring the user

!"#$%


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@cowanSF

DESIGN THINKING- APPLICATIONS


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Entry1

Urinate as they go2

Edges preferred3

Speedy4

PB > cheese5

Empathy



@cowanSF


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Check & Repair

UV Validation

Relevant Placement

A Better Mouse Trap

Powered by Better Bait

Creativity

1

2

3

4

5



@cowanSF


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DESIGN THINKING- PERSONAS

Personas Problem ScenariosAlternatives

Your Value Propositions


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@cowanSF


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@cowanSF


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NOT A GOOD PERSONA

Women

Age 28-45

Has kids Socialize with other moms

Online with Facebook

86% said theyd like to be more

organized

70% said theyd use anapplication that organizes them


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Women

Age 28-45

Has kids Socialize with other moms

Online with Facebook

86% said theyd like to be more

organized

70% said theyd use anapplication that organizes them

NOT A GOOD PERSONA

Bullet points are almostnever vivid or detailed

Stock photo- not real

This is a hugepopulation- not exact

These responses are fake

actionable- survey responseslike this are unreliable


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THE ART OF CUSTOMER DISCOVERY


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A BETTER PERSONA

Mary is a mom by choice. She had a successful career in accounting,

but welcomed the opportunity to be a stay at home mom. She loves it.

But its not like having kids purged her creative, social instincts. She

wants to connect, she wants to learn, she wants to interact. Being a

mom is a job and she wants to do it well. That means corresponding

with other moms on child education and keeping track of what works.

She posts to Facebook at least twice a week and responds to other

moms items more often than that.

She has a few blogs and publications she reads regularly

Mary the Mom


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A BETTER PERSONA

the use of a first name helpsw/ vividness (a little)

these full sentences look like agood start towards something

vivid and detailed

this is a real photo of arelevant person taken with an

iPhone in the real world

Mary is a mom by choice. She had a successful career in accounting,

but welcomed the opportunity to be a stay at home mom. She loves it.

But its not like having kids purged her creative, social instincts. She

wants to connect, she wants to learn, she wants to interact. Being a

mom is a job and she wants to do it well. That means corresponding

with other moms on child education and keeping track of what works.

She posts to Facebook at least twice a week and responds to other

moms items more often than that.

She has a few blogs and publications she reads regularly

Mary the Mom


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VA

RI

ED

ivid The personashould make

anyone who reads

it feel like theyve

actually met this

person.


@cowanSF


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VA

RI

ED

ivid


@cowanSF

If the persona

doesnt inform

how you sell stuffand build stuff,

why bother?

ctionable


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VA

RI

ED

ivid


@cowanSF

eal Good personasarent created incubicles. Go

where the persona

is and observe.

ctionable


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VA

RI

ED

ivid


@cowanSF

eal

ctionableMake sure you

can identify and

target these

personas, or youwont be able to

find a use for

them.dentifiable


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VA

RI

ED

ivid


@cowanSF

eal

ctionable

dentifiable

Everyone is not

your customer.

Make sure thepersonas are

distinct so you can

apply relevant

focus.xact


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VA

RI

ED

ivid

eal

ctionable

dentifiable

xactetailed

People are

complicated and

so good personasare usually pretty

substantial.


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A LITTLE GAME FOR BETTER PERSONA DISCOVERY

Day in the Lifewe look at a few photos for a given persona

you make some guesses about them

there are no right answers BUT

there is a right process: observe and infer

OBJECTIVE: get a feel for whats real; start to create something vivid

(not a full picture, just snippets)


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SVEN THE SALESPERSON: A DAY IN THE LIFE


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WAKE UP!

** create fakeemail account,

fake email to them


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WAKE UP!


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ON THE JOB


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LUNCH BREAK


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FINISHING UP


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ON THE ROAD


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UNWINDING AFTER WORK


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DINNER


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WINDING DOWN & BED


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ABOUT SVEN THE SALESPERSON

Whats his favorite kind of music?

What do you think he looks at to set his agenda

for the next day?

What movie did he last see?

How much do you think he uses his PC vs. hismobile? Which in which situations?

If he had a dog, what kind?

What one change on the way he uses

Salesforce would most change his life for the

better?


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DISCOVERY & LEARNING: THINK-SEE-FEEL-DO


@cowanSF


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@cowanSF

XPROBLEM SCENARIO

DISCOVERY & LEARNING: PROBLEM SCENARIOS


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@cowanSF

XWhat job(s) are you doing for

the customer?

What existing need or

behavior are you fulfilling?

PROBLEM SCENARIO



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@cowanSF

?

X

ALTERNATIVE(S)

PROBLEM SCENARIO



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@cowanSF

?

X

If they currently use

spreadsheets, watch them

use it and get a copy of it.

If they currently put notes on the

family fridge, ask about it,

photograph it.

ALTERNATIVE(S)

PROBLEM SCENARIO



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X


Its difficult for the HR manager to get their screeningnotes to the functional manger.

(Too Detailed, A Feature vs. a Product/Venture)

Hiring technical talent is difficult.

(Too Broad, Abstract)

Screening technical talent is difficult.

(Probably About Right)


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@cowanSF

YOUR VALUE PROPOSITIONS !

ALTERNATIVE(S) ?

PROBLEM SCENARIO X



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@cowanSF

X

Are they better enough than the

alternative(s)?

!

?

YOUR VALUE PROPOSITIONS

ALTERNATIVE(S)

PROBLEM SCENARIO



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and they have a certain

PROBLEMS(S)

where theyre currently using

certain ALTERNATIVE(S)

and I have a VALUEPROPOSITIONthats better enoughthan the alternatives to cause the

persona to act (purchase, use, etc.).

A certain PERSONAexists

AND NOW THE PRODUCT HYPOTHESIS

!

?

X


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DOUBLE DIAMOND MODEL OF DESIGNFinding the Right

PROBLEMFinding the Right

SOLUTION

time

alternatives

divergence convergence divergence convergence

source: adapted from The Design of Everyday Things


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THE BUSINESS MODEL CANVAS

!"#$&'() #$*#+,-$,. /-.,( 0", 1(,20#3, 1'44'-$500(#6/0#'-78"2(, 5*#), 9:;


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SEGMENT TO VALUE PROPOSITION MAPPING

!"#$&'() #$*#+,-$,. /-.,( 0", 1(,20#3, 1'44'-$500(#6/0#'-78"2(, 5*#), 9:;


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STORYBOARDING A PROBLEM SCENARIO

Before

After

Trigger?

How does the

problem scenario

initiate?

Action?

How is the

alternative

executed?

Reward?

How well is the

persona gratified?

+


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STORYBOARDING A PROBLEM SCENARIO

AFTER

BEFORE

BEFORE

(using the

Alternative)

AFTER

(with the Value

Proposition)


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DESIGN THINKING- USING PERSONAS

Personas Problem ScenariosAlternatives

Your Value Propositions

SELLINGSTUFF

Whos buying?

Where?

Why?

Who are weselling to?

Where do wereach them?

With what

proposition?

MAKINGSTUFF

What does theuser actuall do?

What does theuser most want?


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THINK SEE

FEEL DO

PERSONAS

Who?

X


What?


What if?

!


How?

Scale?

Pivot?

PRODUCT &PROMOTION

/


Tell me?



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ASSUMPTIONS

What if?

!


Tell me?



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EVIDENCE-BASED INNOVATION VIA LEAN STARTUP

Do I have real evidence from my buyerthat this is compelling?

01 IDEA!

What are the key assumptions requiredto make this business work?

02 HYPOTHESIS

How do I definitely prove or disprove theassumptions with a minimum of timeand effort?

03 EXPERIMENTAL DESIG N

04 EXPE RIM ENTATION

Am I reacting or am I focused onvalidating my pivotal assumptions?

Pivot or persevere?


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02 HYPOTHESIS




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ASSUMPTIONS: ORGANIZED AND PRIORITIZED

Priority Key Assumption Needs Proving? Experimentation

1[A key assumption about thebusiness]

[Whether it needsproving

[Experiment toprove or disprove]

1

Hiring managers would

prefer a lightweight quiz appover calling references andad hoc probing.

Yes

* Customer interviews on problem

scenario* Value testing through minimumviable product

2Managers want to be able toadd their questions as well

Yes* Show prototypes with choices* Test in beta

2 Parents have smart phones No n/a

Focus on pivotalassumptions


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FOCUS AND THE LEAN STARTUP

Crossing ts

Dotting is

Doesnt matter unless ithelps prove (or disprove)

your pivotal assumptions


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FOCUS AND THE LEAN STARTUP

Subjectall your

activities +metrics tothat litmus

test.


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5 TYPES OF INNOVATION HYPOTHESES


@cowanSF

PERSONAHYPOTHESIS

PROBLEMHYPOTHESIS

VALUEHYPOTHESIS

CUSTOMER CREATIONHYPOTHESIS

USABILITYHYPOTHESIS


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PERSONA HYPOTHESIS


@cowanSF

PERSONAHYPOTHESIS


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PERSONA HYPOTHESIS- CHECKLIST

Hypothesis Experiment

! This persona exists (in non-trivial

numbers) and you can identify them.

- Can you think of 5-10 examples?- Can you set up discovery interviews with them?- Can you connect with them in the market at large?

! You understand this persona well. - What kind of shoes do they wear?- Are you hearing, seeing the same things across your discovery

interviews?! Do you understand what they Think in

your area of interest?

- What do you they mention as important? Difficult? Rewarding?- Do they see the work (or habit) as you do?- What would they like to do better? To be better?

! Do you understand what they See in

your area of interest?

- Where do they get their information? Peers? Publications?- How do they decide whats OK? Whats aspirational?

! How do they Feel about your area of

interest?

- What are their triggers for this area? Motivations?

- What rewards do they seek? How do they view past actions?! Do you understand what they Do in your

area of interest?

- What do you actually observe them doing?- How can you directly or indirectly validate thats what they do?


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EARLY MARKET VS. LATER MARKET


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EARLY MARKET VS. LATER MARKET


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@cowanSF

PERSONAHYPOTHESIS

PROBLEMHYPOTHESIS

VALUEHYPOTHESIS


USABILITYHYPOTHESIS


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PROBLEM HYPOTHESIS


@cowanSF

PROBLEMHYPOTHESIS


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PROBLEM HYPOTHESIS- CHECKLIST

Hypothesis Experiment

! Youve identified at least one discrete

problem (job, desire, etc.)

- Can you describe it in a sentence? Do others get it?- Can you identify current alternatives?

! The problem is important - Do subjects mention it unprompted in discovery interviews?- Do they respond to solicitation (see also value and customer creation

hypotheses)?

! You understand current alternatives - Have you seen them in action?- Do you have artifacts (spreadsheets, photos, posts, notes, whiteboard

scribbles screen shots ?


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KEYS TO FINDING SUBJECTS


@cowanSF

Avoid subjects that are easy but less/not relevant.

1) Have a screener with factual questions

2) Avoid direct to user sources for professional subjects (theyre far less likely to

be representative


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Do I have real evidence from my buyerthat this is compelling?

01 IDEA!


02 HYPOTHESIS





Pivot or persevere?


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Pivot or persevere?


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@cowanSF

PERSONAHYPOTHESIS

PROBLEMHYPOTHESIS

VALUEHYPOTHESIS


USABILITYHYPOTHESIS


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VALUE HYPOTHESIS


@cowanSF

VALUEHYPOTHESIS


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TESTING YOUR HYPOTHESIS VIA MVP

M

VP

inimum What is the fastest,cheapest way to

validate orinvalidate this

option so we give

ourselves more

options on futuresuccess?


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M

VPiable Will it give us adefinitive result?

What are the

actionable metrics?

inimum


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M

VProduct

Does it really

require actual

product? Can we

use alternative

brands, channels?iable

inimum


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is not necessarily actual software/product(see concierge MVP)

is a first and foremost learning vehicle vs. a project plan

(OK to do those things but alwayssubordinate them to the learning mission)

vs. a product development project

M

VProductiable

inimum


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CASE STUDY: DROPBOX

OPPORTUNITYUnderlying demand and supportinginfrastructure ready for a great file sharingapp.

CHALLENGEBuilding a great cross-platform app.required VC funding. VCs saw a spacewith lots of existing competitors strugglingto get traction.


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CASE STUDY: DROPBOX

PersonaTom the Techie- early adopter who works on projects that require swapping a lot of files between a

shifting network of collaborators.

ProblemScenario

Its difficult to share files between a network of collaborators, particularly if theyre: big or numerous or

change a lot.

AlternativesMany existing products, but none of them super compelling and widely adopted.

Also, custom setups which work but are cumbersome to set up and maintain.

Value Prop.A file sharing service that truly feels transparent to the user across all major platforms- OSX, iOS,

Windows, etc.

What Minimum Viable Product (MVP)?

That you can bootstrap?

That doesnt require software at all?


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THE WIZARD OF OZ MVP

Result: Excellent traction and

conversion to sign-ups.

Strong validation signal.

Created a synthetic demotailored for early market(techies), promoted it, andmeasured email sign-ups.


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EXAMPLE: ENABLE QUIZ

OPPORTUNITYHiring quality technical talent is critical formany companies, but screening for skillsets is time consuming and awkward.

CHALLENGEThe founding team wants to bootstrapwithout external funding so they need tofocus on a specific technical domain, onethat will get them strong early traction.


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EXAMPLE: ENABLE QUIZ

Persona(s)Helen the HR Manager- responsible for sourcing and screening job candidates

Frank the Functional Manager- hiring manager responsible for acquiring and managing talent

ProblemScenario

Helen: hard to screen for technical skills

Frank: never has enough time for recruiting and doesnt want to be a jerk during interviews

AlternativesHelen: call references, take their word for it (on skills)

Frank: ask a few probing questions

Value Prop. A lightweight quizzing app that has Helen can use to do quick, effective screening.

What Minimum Viable Product (MVP) for deciding on the right first topics?

That you can bootstrap?That doesnt require software at all?


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THE PRE-SALES MVP

Target Outcome: Informed

selection of starter topics (andbaseline on initial conversions).

Ran Google AdWordcampaigns across top rankingtechnical topics, measuring

click through rate and landingpage sign-ups.


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CASE STUDY: LEONID SYSTEMS

OPPORTUNITYMajor disruption and new productopportunities among telecom providerswith introduction of voice-over-IP and cloud

communications.

IT systems need to be rethought.

CHALLENGEAs a one-person startup, Leonid had

actionable ideas but not enough resourcesto execute an end-to-end solution.


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CASE STUDY: LEONID SYSTEMS

PersonaChris the CTO- has funding and mandate to transition the business towards hosted services; many

bases to cover

ProblemScenario

IT is the most expensive, most risky area when making changes to the business.

Alternatives1) Place large, risky bets on major new system upgrades. 2) Make small incremental updates (but risk

not keeping pace).

Value Prop.Leonid will offer modular, integration-friendly applications in two critical areas: 1) services provisioning

and 2) end user self-service portals.


That you can bootstrap?That doesnt require software at all?


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LEONID MVPs: FROM CONSULTING TO PRODUCT

Started with consulting as aconcierge vehicle to createtactical solutions, evolving tofull-fledged product.

Result: Steady step-wise

growth with consistently better

understanding of key customerproblem scenarios.


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CASE STUDY: ZAPPOS

OPPORTUNITYAn observed problem scenario around thedifficulty of finding the right shoe at localretail and a giant (but nascent) market in

online retail (1999).

CHALLENGEConsumers still in the early stages ofadopting and habituating to online retail.Founder (Nick Swinmurn) wanted to

bootstrap.


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CASE STUDY: ZAPPOS

Persona Sam the shoe-hound- knows what he wants but not where to get it.

ProblemScenario

Sam is unable to find the shoe he wants at local retailers, wasting time and getting frustrated.

Alternatives Possibly mail order or wait until hes in a bigger market to go to the store.

Value Prop.Make the shoe Sam wants accessible online and make sure he has a great experience so hell come

back and not have to think about where to find the shoe he wants anymore.


That you can bootstrap?

That doesnt require software at all?


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CASE STUDY: ZAPPOS

Result: It worked and the rest

is history.

Photographed shoes and putthem online to observe

whether anyone bought them.


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ABOUT MVPS AND PRODUCTS IN GENERAL

You have to put the magic inthe software.

(Not the other way around)Concierge and other non-software MVPs can be prettymagical.

Find 100 people that are reallyinto it and you can probablygrow.


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@cowanSF

PERSONAHYPOTHESIS

PROBLEMHYPOTHESIS

VALUEHYPOTHESIS


USABILITYHYPOTHESIS


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USABILITY HYPOTHESIS


@cowanSF

USABILITYHYPOTHESIS


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THINK SEE

FEEL DO

PERSONAS

Who?

X


What?


What if?

!


How?

Scale?

Pivot?

PRODUCT &PROMOTION

/


Tell me?



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How?

PRODUCT &PROMOTION

/



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WHAT ARE WE TESTING?

Ability(Usability)

MotivationAction Line

Inaction : (

Action : )

source: adapted from BJ Foggs Behavioral Model


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WHAT ARE WE TESTING?

Ability(Usability)

Motivation

source: adapted from BJ Foggs Behavioral Model

UsabilityTesting

PropositionTesting

(ala LeanStartup)

DONT RUIN YOURRESULTS BY TRYINGTO TEST BOTH ATTHE SAME TIME


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@cowanSF

AGILE FOUNDATIONS

USER STORIES

DISCUSSION

DEVELOPMENT

VALIDATION

PERSONASPROBLEM SCENARIOS,ALTERNATIVES

PROPOSITIONS


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PERSONASPROBLEM SCENARIOSVALUE PROPOSITIONS

Epic Stories

Stories

Test Cases

As a [persona],I want to [do something]so that I can [derive a benefit]

Drafting

Stories

AGILE USER STORIES- WHATIS


@cowanSF


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CHILD STORIES

A) As an HR manager, I want to match an open positions required skills with quiz topics so I cancreate a quiz relevant for candidate screening.

B) As an HR manager, I want to send a draft quiz to the the functional manager so I make sure Ivecovered the right topics on the screening quiz.

C) As a functional manager, I want to send feedback on the screening quiz to the HR manager so Imake sure Im getting the best possible screening on candidates.

D) As an HR manager, I need to purchase an upgraded service tier so I can add additional topics tomy quiz.

E) As an HR manager, I want to add custom questions to the quiz so we cover additional topics thatare important to the functional manager.

F) As a manager, I want to make sure the quiz is ready so I can make sure Im prepared for our firstcandidate screening.

EPIC STORY

EXAMPLE: AGILE USER STORIES

As the HR manager, I want to create a screening quiz so that I can understand whether I want tosend possible recruits to the functional manager.


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USABILITY TEST SUITES: A PROGRESSION

DESIGN

PROTOTYPETEST

Exploratory

DESIGN

PROTOTYPETEST

DESIGN

PROTOTYPETEST

Assessment Validation

It looks like this

approach will

fundamentally work.

The implementation

is sound and ready

for fine-tuning.

Ready

for prime

time.


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TWO PILLARS OF ACCELERATOR SUCCESS

PROCES

S

P

ROGRAMMING


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PROCESS


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AGILE & THE BEAUTY OF SMALL BATCHES


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AGILE & THE BEAUTY OF SMALL BATCHESStory

Backlog

RELEASE X

PRIORITY

ITERATION 01

ITERATION 02

. . .

ITERATION N

Story A

size = x

Story B

size = y

Story C

size = z

Story D

size = a

Story N..

size = c

Story E

size = b

. . .


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TOOLS: TRELLO


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FINI

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