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SOCIAL INNOVATION ACCELERATOR

BOOTCAMP. SOCIAL INNOVATION ACCELERATOR. TO CREATE LASTING CHANGE. POWERED BY SANTANDER. developed in partnership with. RAPID PROTOTYPING A LEAN APPROACH TO QUICKLY VALIDATING ASSUMPTIONS. David Evans CEO, Geode Software, Inc. Business Model Validation Lab. Customer Discovery.

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SOCIAL INNOVATION ACCELERATOR

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  1. BOOTCAMP SOCIAL INNOVATION ACCELERATOR TO CREATE LASTING CHANGE POWERED BY SANTANDER developed in partnership with

  2. RAPID PROTOTYPINGA LEAN APPROACH TO QUICKLY VALIDATING ASSUMPTIONS

  3. David Evans CEO, Geode Software, Inc.

  4. Business Model Validation Lab Customer Discovery Customer Validation Mentor Feedback Mentor Feedback Keep Momentum Identify Assumptions Rapid Prototyping Mentor Prep + Cost Assumptions Strategic Planning

  5. I’M BUILDING A HOUSE

  6. HOW DO YOU KNOW WHICH?

  7. IT STARTS WITH A PROTOTYPE

  8. WHAT IS A PROTOTYPE? • A prototype is an early sample or model of a product, service, experience, or plan that is built to test a concept or process or to act as a thing to be replicated or learned from • A methodology to learn something very quickly about your customer

  9. THE LEAN STARTUP WAY • “We must learn what customers really want, not what they say they want or what we think they should want.” • Eric Ries, Lean Startup

  10. IT STARTS WITH A THOUGHT

  11. HOW NOT TO DO IT • “I know what this market needs” • SaaS point of sale for ticket resellers • 18 months of development • Early pilot customer

  12. THE RIGHT WAY • “Will people buy shoes online?” • Deal with a local shoe store • Simple site with limited inventory • Only validating the core question

  13. PUT THE OBJECTIONS AWAY • I’m too advanced for this... • I’ve already built my prototype... • I already have a product I am selling... • I handle sales, my co-founder handles the product

  14. THIS IS A MENTAL MODEL • A mental model is an explanation of someone's thought process about how something works in the real world. It is a representation of the surrounding world, the relationships between its various parts and a person's intuitive perception about his or her own acts and their consequences.

  15. ASSUME A 5% CHANCE OF SUCCESS

  16. OPINIONS ARE LIKE… • “If we have data, let’s look at data. If all we have are opinions, let’s go with mine.” • Jim Barksdale, Netscape

  17. THE MOST DANGEROUS PHRASES TO A STARTUP • “I think…” • “We assume…” • “Someone said…”

  18. A PROTOTYPE GATHERS DATA • Marketing campaign • 1-pager for sales / marketing • Sales process • Product • Service • Customer experience • Website

  19. NOW GO GET IT • Feedback from as close to your target as possible • Actual interaction is the best • If you have to ask, use the “Mom Test”

  20. BUT LET’S NOT GO NUTS

  21. EXERCISE TIME

  22. EXERCISE QUESTIONS

  23. LESSONS TO TAKE AWAY Prototype Validated Feedback • A testable hypothesis is measurable • Measure one variable, if possible • It’s not just product and marketing that can be prototyped • Asking is not testing • Must be tangible enough for the audience to “get” it • The best feedback is from actual customers with actual money

  24. QUESTIONS?

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