product development for startup
TRANSCRIPT
Product Development for startupAslam Hirani
What is startup
Startups run with constraints
Startup want to provide value to end customers
Value
34% startups find challenge in Product Development*
* https://www.startupmuster.com/Startup-Muster-2015-Report.pdf
Three important steps in product development
What to build
1
Build itHow can we
improve it
2 3
Three important steps in product development
What to build
1
Build itHow can we
improve it
2 3
Fortune - “top reason” that startups fail: “They make products no one wants.”
42% of them identified the “lack of a market need for their product”
What is to be built Build it
How can we
improve it
Fortune - 2014 survey
If you take too much time and you realize that customers want something else
What is to be built Build it
How can we
improve it
Build what users need
Challenges
Goal
Who is the user Day in life of the user
What is to be built Build it
How can we
improve it
User Requirements
Three important steps in product development
What to build
1
Build itHow can we
improve it
2 3
Time to market is vital for companies to produce value
Competition
Technologies change
What is to be built Build it
How can we
improve it
Schoolgennie
● Time take to release the product - 11 months
● Funding - 15 Lakhs
● Looked at competitor product features to build product.
● No interaction with customers while building the product
What is to be built Build it
How can we
improve it
http://yourstory.com/2014/10/schoolgennie-failure-reasons/
Neverending● Neverending - video game
● Time taken - 18 months
● Customers did not like the game
What is to be built Build it
How can we
improve it
http://gaming.wikia.com/wiki/Game_Neverending
Build Minimum value product
What is to be built
Feature 1
Feature 2
Feature 3
Feature 4
Product or Prototype
What is to be built Build it
How can we
improve it
FTW - Avoid to deliver perfection in first release
Name – FTW
● Tried to deliver “perfection” in my first shot, which is never possible.
● Improvise gradually.
What is to be built Build it
How can we
improve it
http://crackjobinterview.com/10-indian-startups-that-failed-in-2014/
Google Docs
If Google had waited to implement the comparable set, or even 20% of the most commonly used functionality, it would have taken them years before the first release.
http://www.deltamatrix.com/agile-time-to-market
What is to be built Build it
How can we
improve it
ID - Start small to understand the customer response
Initial target - 20 stores
Sell 100 packets a day in six months
What is to be built Build it
How can we
improve it
http://www.rediff.com/getahead/report/how-a-coolies-son-set-up-a-rs-100-crore-company/20151216.htm
Develop limited features but with speed and quality
Speed Quality
Simple
Simplicity
What is to be built Build it
How can we
improve it
Keep your products simpleWhat is to
be built Build itHow can
we improve it
Team
● Dependent on part timers
● Product oriented
● Cross Functional
What is to be built Build it
How can we
improve it
Three important steps in product development
What to build
1
Build itHow can we
improve it
2 3
64 % of features in products are “rarely or never used*
What is to be built Build it
How can we
improve it
*Standish group study
Continuous feedback to improve the product
Social Media/ Discussion Groups
Warranty/Customer SupportDevice/SoftwareProduct
development
Feedback, Product Ideas
Product Returnsproduct issuesLive Chat
SME involvement
Software update
Trainings
Operations
SupportTraining
Product Performance
Update of product features Usage of features
What is to be built Build it
How can we
improve it
THANK YOU