session 3 - solution interviews
TRANSCRIPT
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Session 3
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Update the customer problems and goals
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Key reasons businesses fail is that their plan is based on false assumptions
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Goal 1
Customer
Goal 2
Which of your initial Customers goal and problem assumptions are correct and
which were false?
Goal 3
Problem 1
Problem 2
Problem 3
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Goal 1Customer
Goal 2Task (Time: 10 minutes)
1 Remove false assumptions
2 Add new problems and goals patterns
Goal 3
Problem 1
Problem 2
Problem 3
New problem
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Product and features design
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Minimum variable product
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Great Idea
Great Product
Great Company
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How do you build a great product with so little resources?
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Build something a small number of user love
Source: YCombinator
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Version 4Version 1 Version 2 Version 3
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The only thing that matters is product/market fit
- Marc Andreessen
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Feature 1
Goal 1 Customer
Goal 2
Feature 2
Product-Market fit happens when
The product helps the customers
1. Achieve their goals2. Solve their problems
Better than the current solutions
Feature 3
Goal 3
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App to call a taxi
Get to my destination
Traveller
Taxi’s are expensive Rating of taxi
driver
Standard pricing
Drivers are rude
Arrive late & unreliable
Can’t hear the driver
Payment is hassle
Clean cars
Polite drivers
Feel Used /
Ripped off
Geo-tracking
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Feature 1
Feature 2
Feature 3
Feature 4
Feature 5
Feature 6
Tasks (Time: 10 minutes)1. Add product, services and features
to your canvas
2. Ensure your product, services and features solve your customer problems
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Messaging design
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Create a story: Who?
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Onhub Slow speedsHome
Wifi user
Shouldn’t Wifi be easier
Lost connections
CommunicationsWith an app
Not blinking lights
Starts fast and Stays fast
Hard to set up
Hard to trouble shoot
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Juicero
Buy expensive fruit &
vegetables
HomeJuicer
Squashed Produce
Wash fruit and vegetables
Delivered to Your door
Taken care of everything –
washing, peeling, chopping, growing.
Assemble Juicer
Clean up juicerThere is Nothing to
clean
100% organic100% raw
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Create a compelling one line pitch
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The 4-hour Body
Real ad look at feel
1 human guinea pig
100+ Scientist consulted
10 years of experiments
Hold your Breath fo 5
minutes
Run 100 miles
Use credibility indicators and customer goals
Lift 500 pounds
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Messaging best practice
1 Link messaging to problems
2 Clear one line pitch
3 Use credibility indicators
4 Use customer goals
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Product Message 1
Message 3
Message 2
Task (Time 10 mins) 1 Add messaging and stories for your product.
2 Ensure that your messaging fits with your customer goals and problems.
Story 1
Story 2
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Minimum viable product
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Minimum variable product
MVP definition:
A version of the product or marketing that will help you learn
the most about customer behaviour with the least effort
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How most startups launch
Business Plan LaunchProduct
Development
Learning happens here!Months / Years
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A lean startup
Run Experiments
LaunchProduct
Development
Learn if idea will work!Months / Years
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Warning!!! What happens if you don’t pre-sell?
0 /1700
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Minimum variable product
What could they have done differently?
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0 50 100 150 200 250 300 350 400
1 day
365 days
Do you want to waste 365 days?
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Types of MVPs
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0 100 200 300 400
1 Day
Months / Years
Slide Presentation
Full product
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0 100 200 300 400
Days
Months / Years
Full product
Landing page
Landing page MVP
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0 100 200 300 400
Weeks
Months / Years
Consulting MVP
Full product
Consulting
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0 100 200 300 400
Days
Months / Years
Video MVP
Full product
Video
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0 100 200 300 400
Weeks / Months
Months / Years
Crowdfunding MVP
Full product
Crowd funding
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0 100 200 300 400
Weeks / Months
Months / Years
Audience MVP
Full product
Email list
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0 100 200 300 400
Weeks
Months / Years
Wizard of Oz MVP
Full product
Wizard of Oz
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0 100 200 300 400
Weeks / Months
Months / Years
Other people’s product MVP
Full product
CompetitorProduct
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0 100 200 300 400
Days
Months / Years
Advert MVP
Full product
Online ads
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0 100 200 300 400
Days
Months / Years
Feature MVP
Full product
Feature
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To build a great product start small
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Task (Time: 10 minutes)
1 Create a list of MVPs that you would be relevant for your product
2 Decide which MVP you will build first.
(Start with the MVP that will give you the most learning in the shortest amount of
time).
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Solution interviews
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Why do solution interviews? Can’t I just build my product and then sell it?
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Interview script
1 Rapport
2 Customer indicator question
3 Give context
4 Demonstration
5 Pre-sales / price testing
6 Thanks
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Questions1 Would you agree this is your biggest problem?
2 Demo product
• What features do you like?
• What features would be most useful?
• What don’t you like about the solution?
• Which features would you use every day?
3 After demo
• Do you think this will solve your problem?
• What could be improved?
• What would you change?
4 Pre-sales
• Do you want to be part of the pilot for X?
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Questions1 Would you agree these are your goals and problems?
2 Demo product
• What features do you like?
• What features would be most useful?
• What don’t you like about the solution?
• Which features would you use every day?
3 After demo
• Do you think this will solve your problem?
• What could be improved?
• What would you change?
4 Pre-sales
• Do you want to be part of the pilot for X?
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Questions1 Would you agree these are your goals and problems?
2 Demo product
• What features do you like?
• What features would be most useful?
• What don’t you like about the solution?
• Which features would you use every day?
3 After demo
• Do you think this will solve your problem?
• What could be improved?
• What would you change?
4 Pre-sales
• Do you want to be part of the pilot for X?
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Questions1 Would you agree these are your goals and problems?
2 Demo product
• What features do you like?
• What features would be most useful?
• What don’t you like about the solution?
• Which features would you use every day?
3 After demo
• Do you think this will solve your problem?
• What could be improved?
• What would you change?
4 Pre-sales
• Do you want to be part of the pilot for X? Do you want to be put on the waiting list?
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Solution interview with
Slide presentation
SponsorsFace to face
meeting5
InterviewsInterested in
running a pilot 2 / 5
Ran a pilot
There is sponsorship
money availabe
Build a sponsorship
model
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Solution interview with
Slide presentation
SponsorsFace to face
meeting5
InterviewsInterested in
running a pilot
Task (Time: 10 minutes)1 Plan a solution interview experiment 2 Decide what MVP you will use to show the customer
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Interview customers
• Get out of the building
• Conduct customer interviews (Phone or face-to-face)
• Aim to do at least 10 interviews
• Aim to run and analyse 2 experiments
• Next presentation at 16:30
• Feel free to ask for help from the team after each experiment
• If you are already up and running ask someone on the team to help
you design a relevant experiment for your business
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1. Signed up to your landing page.
2. Purchased the product or service.
3. Pre-paid for the product or service.
4. Willing to pilot with solution with you.
5. Got excited by the solution you pitched to them.
How do you test if they will buy?
8 / 10Signed up
8 / 10Purchased
8 / 10Pre-paid
8 / 10Pilot
8 / 10Got excited
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1. Get a single conversation (1/10). Understand why. Improve. Goal (10/10).
2. Create a high bar (8/10). Quickly invalidate ideas. Next idea.
3. Your current conversation ratio (?/10). Improve.
4. Statistical significance (95/99% level).
5. Financial model. What does conversation rate need to be for the business to
be viable?
How do you determine the conversation ratio?
? / 10Signed up
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Solution Discovery Interview
8 / 10 Pre-paid
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4 Preparing solution pitch
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Solution Slide Presentation
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Logo
Picture
Amazing one-line headline that is easy to understand and has key benefit in it.
Amazing sub-headline that is easy to understand.
CTA for offer
Social media buttons
Key benefit / feature
Description of feature / benefit.
Key benefit / feature
Description of feature / benefit.
Key benefit / feature
Description of feature / benefit.
Key benefit / feature
Description of feature / benefit.
Price 1 • Feature • Feature • Feature
Price 2• Feature • Feature • Feature
Price 3• Feature • Feature • Feature
Quote from problem / solution interviews.- Persons name
• Create a 3 page landing page of your solution• Use a landing page format • Time 30 mins
Slide 1
Slide 2
Slide 3