Dude, where is my Customer???

Tathagat VarmaVP, Strategic Process Innovations,

[24]7 Innovation Labs

Picture: http://www.news.com.au/travel/holiday-ideas/inside-china8217s-ghost-cities/story-e6frfqd9-1226716277487

What do you need to create successful

products?

90%Tech Startups

FAIL…!!!

http://inspiredmagz.com/infographic-why-startups-fail/

http://blog.amplifiedanalytics.com/wp-content/uploads/2011/07/New-product-failure-rate.png

“Build and they will come” is not a strategy, it’s a prayer. – Steve Blank

Isn’t execution enough?

Necessary, but not sufficient…

Meet the most ferocious lion in Sweden…

build without customer inputs…

Internet Hall of Shame…

http://themyndset.com/2013/05/catch-the-wave-right-mindset-digital-iq/ http://www.cnet.com/1990-11136_1-6278387-1.html

Google’s Hall of Shame

4.85yrs to pull out???http://blog.priceonomics.com/post/46028291791/digging-around-in-the-google-graveyard

…and in ROTW

who succeed, drastically change their plans along the

way!

2/3rd

“So what is it that makes some startups successful and leaves others selling off their furniture? Simply this: startups that survive the first few tough years do not follow the traditional product-centric launch model espoused by product managers or the venture capital community. Through trial and error, hiring and firing, successful startups all invent a parallel process to Product Development. In particular, the winners invent and live by a process of customer learning and discovery. I call this process "Customer Development,” a sibling to "Product Development” and each and every startup that succeeds recapitulates it, knowingly or not.” – Steve Blank

http://steveblank.files.wordpress.com/2010/11/two-assumptions.jpg

“In large companies, the mistakes just have additional zeroes in them”. – Steve Blank

So what works then?

“Not a better Plan A but a path to a plan that works before running out of resources”

-Ash Maurya, Running

Lean

Guess them?

http://www.capgemini.com/blog/capping-it-off/2011/06/paving-the-path-of-scrum-adoption-2-product-people

Innovation =

Ideate

+ Productize

+ Commercialize

+ Discover Business

Model

“A startup is not a smaller version of a large company” – Steve Blank

http://newentrepreneurship.nl/business-model-canvas/

http://torgronsund.com/wordpress/wp-content/uploads/2011/04/Slide1.jpg

“GET OUT OF THE BUILDING”

http://steveblank.files.wordpress.com/2010/11/pivot-the-model.jpg

Build-Measure-Learn Loop

Running Lean

So, what is your product?

From: Running Lean – Ash Maurya

Case Study: Ash Maurya’s Running Lean book

From: Running Lean – Ash Maurya

Recap

• Don’t build something no one wants!

Discover customers first

• Search for the business model

Validate your assumptions • Build, measure

and learn iteratively

Build products iteratively

• Aggressively execute business plan and optimize

Scale-up for execution

“I never perfected an invention that I did not think about in terms of the service it might give others... I find out what the world needs, then I proceed to invent....”- Thomas Edison

References

• www.steveblank.com• http://blog.startupcompass.co/ • http://blogs.wsj.com/accelerators/201

3/06/24/steve-blank-the-6-types-of-startups-2/

• Running Lean – Ash Maurya• The Startup Owners Manual – Steve

Blank• Four Steps to Ephphany – Steve Blank• The Lean Startup – Eric Ries

Q&A

• http://managewell.net• http://slideshare.net/managewell