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Year 2 of Product Development: What’s Next?

Year 2 of Product Development: What’s Next?. The Explore vs. Exploit dilemma. Pinger scenario. Year 2 of product development Core product developed Where are the users? Randy: “What are you guys going to do next!”. Exploit. Explore. Before. After. Anti-virus. Databases.

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Year 2 of Product Development: What’s Next?

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  1. Year 2 of Product Development: What’s Next? The Explore vs. Exploit dilemma

  2. Pinger scenario Year 2 of product development Core product developed Where are the users? Randy: “What are you guys going to do next!”

  3. Exploit

  4. Explore Before After Anti-virus Databases PDA Hardware and OS PDA Software

  5. What does Pinger do? Explore Exploit ?

  6. Some things to Consider Who are the stakeholders? What are the constraints?

  7. What does Pinger do? Explore Exploit ?

  8. Ambidextrous Organizations Can this theory be applied to startups?

  9. Institutionalizing Good Luck The startup world is hazy Do lots of experiments, increase your chances of winning Take a portfolio approach to product development

  10. Pinger is doing both Exploit • Product is mostly done, will continue with tweaks • Use minimal engineering resources • Focus marketing efforts here Explore • Three major projects happening in parallel • Taking advantage of existing technology • Risking little with each experiment, 80/20 • Be quick to kill projects that are not rewarding

  11. A New Model Keep pedaling, and wait for the downhill …while at the same time, explore new ways to make you go faster Speed of bike ~ # Users

  12. Does this model apply to ALL start-ups?

  13. Takeaways Explore and Exploit are not mutually exclusive The Biker analogy, does it make sense for your startup? It’s rare that you will know the winner, consider the portfolio approach to Product Development The 80/20 rule is crucial for experimentation

  14. Pinger Quick Facts • Founded by Greg Woock and Joe Sipher in late 2005 • 2 rounds of funding from KP (+DAG in 2nd round) • about 19 employees • www.pinger.com Early Product Roadmap One Voicemail box for all your phones Voicemail with replies, forwarding, web management Pinger voice messaging Enable mobile to mobile messaging What’s next?

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