What lessons have you learned building your startup? Lean - Leap Into Lean Startup | Industrial Logic. Strategy, in reverse — Editor's Picks. Week 1: We located all of the client’s documentation and developed 50 hypotheses of our final deliverable — the thing that we would recommend Amex go and do (not an abstraction, i.e., a strategy statement). We developed value propositions and simple paper prototypes of all 50 ideas. Each value proposition is grounded in a problem, creating the beginning of our library of research. It’s also supported by an internally or externally-drawn insight. Week 2: we had customers complete a survey that ranked each value proposition. We chose six to iterate on. Week 3-6: our design sprints were inspired by the product-design sprint from Google Ventures, but adapted for strategy development. Monday: we sketched out the most important user story for the idea. Tuesday: we repeated Monday’s process for 1-2 additional ideas.
Wednesday: this was maker day, where we would develop all of our mock-ups for testing. Thursday: this was demo day. Friday: this was a scrum day. We then asked ourselves: Customer_Discovery.png (1393×880) The Lean Stack – Part 1. 69 Flares52323711--×69 Flares x Access to videos, talks, and worksheetsInvitation to private Google Plus CommunityJoin in on live Q&A webinars and fireside chats. Our Work | Explorics. About Explorics is a strategic consulting firm specializing in customer intelligence and go-to-market strategy. We help software companies engage their customers to create compelling content that opens new channels and attracts new buyers. Customer journey test. Files.thisisservicedesignthinking.com/tisdt_cujoca.pdf. How to Identify (and Mitigate) the Riskiest Parts of Your Product Strategy | Street Smart Product Manager.
Any product strategy is fraught with risks. I’ve heard the three biggest risks to a startup are tech risk, market risk, and ego risk.1 I’d argue for internal corporate innovation, the biggest risks are market risk, resource risk (resources need to be assigned), implementation risk (need the right implementation skill sets and tools), operational risk (the product needs to be operationally cost-effective) and internal risk (need buy-in and alignment from internal stakeholders). Identifying these risks and de-risking them are crucial to the success of any product strategy.
One of the most compelling things to me about Lean Startup is the focus on systematically de-risking elements of a product innovation through experiments and Validated Learning — one of the five core principles of Lean Startup. Of course, this is predicated on identifying each of the most essential elements of your product vision. The Product Canvas has been great in helping me do just that. Again, from Eric’s book:
"Stakeholder Development": Using Customer Development on Internal Stakeholders | Street Smart Product Manager. In my last post, I introduced the Product Canvas — my iteration of the Business Model Canvas — as a simple and quick way to capture my idea for a product. I’ve also used it as a communication tool to share my product vision and get early feedback, which is critical in the beginning stages of exploring a new product opportunity. I’ve been sharing the Product Canvas with anyone who’s asked, and early feedback has been encouraging. One of the biggest things that seems to be resonating with folks is the Key Stakeholders box.
Look, I’ll admit, managing stakeholders is cumbersome, tiresome, and at times a pain. There, I said it. But I’ve learned the hard way that identifying and aligning stakeholders is really important for any initiative. When I came across Steve Blank’s Customer Development methodology, I wondered if its principles could be applied to internal stakeholder support.
Here’s the Customer Development process. In this case, the bottom-line activity is to “walk the building”! Using Lean Principles to Create and Get Traction for Your Product S...