Gravity v0.2
-
Upload
harsh-jawharkar -
Category
Business
-
view
300 -
download
2
description
Transcript of Gravity v0.2
Gravity
Confessions of a serial intrapreneur
Harsh Jawharkar
2
Before we begin…
The opinions expressed are solely my own based on lessons learned over the last 14 years across multiple industries and circumstances
Practical lessons learned, no theory, no prescriptions
Please share your own learnings and feedback – [email protected]
3
Serial ‘intrapreneur’ = launching new ventures (mostly unfunded) within the constraints of large organizations
Started out designing/launching new products at leading firms like IDEO, A.T. Kearney, Pfizer, and Sapient
Launched a social payments venture and built up the incubator at Wells Fargo; now that technology is being commercialized into the largest joint-venture personal payment network in the U.S.
Created a new type of ‘wallet’ at PayPal by commercializing an award-winning product platform; laid the foundation for the company to go after the multi-billion dollar global prepaid market
Current Role – Managing Director – Mobile and New Channel Development at Charles Schwab & Co.
T-shaped tool-box
4
Channel Marketing
Launchin
g new ventures
and products
Design & Human Factors
Digital Advertising
Business Strategy & Operations
5
Quick Poll – Major product innovation pain-points
“The matrix prevents innovation – responsibility without authority”
“Making do with the talent on board – some people are great, some people aren’t”
“Conducting ‘test and learn’ in a risk-averse consensus environment”
“Knowing when to let go and deviating from your vision”
“How can we be operationally efficient AND innovative?”
“Being ‘Agile’ in a waterfall environment”
“Difficulty prioritizing ‘bets’ and managing the pipeline”
“Finding the right speed for innovation – going too fast or too slow”
“Getting funded – how to pitch reputation conscious corporate sponsors”
“Competing with or cannibalizing entrenched products”
6
Key Themes
Building the right team, getting people motivated, and establishing the right attitude
Solving the right problem, focusing on the minimum viable product, and boot-strapping your way to launch
Finding the right fit, adapting to your speed, pivoting, and measuring for success
Evangelizing, game-planning, and creating a coalition of support (internal and external)
7
Building the right team
8
Build a T-shaped team – quality over quantity
Thinking Linking Doing
Observing
Empathizing
Brainstorming
Cross-pollinating
Synthesizing
Facilitating
Executing
Implementing
Testing
Bottom Line•No delicate geniuses or divas; find tough people with thick skins
•Get to know your team’s strengths/weaknesses as early as possible
9
You can’t teach attitude but you can teach skills
Prioritize quick learners over "domain experts”
The experts are nice-to-have; but all things equal, find the hungry people
You can’t teach attitude, so don’t overvalue aptitude The upstart The expert
10
Listen to the skeptics but shed the deadweight
Negativity is contagious, everyone is impressionable
Cut out the virus before it spreads and affects the rest of your team
Two options:1) Step in to fill the gaps
and pick up the load2) Use it as a growth
opportunity for other team members
11
Sometimes we forget about the sweat equity
Leave your titles and egos at the door to build team spirit
You may be the quarterback but you need to block and tackle to get people to buy into the vision
Create a ‘huddle’ to get people excited and make the ‘handoffs’ seamless
12
You’re the pinch hitter, shortstop, handyman, and more…
Design Build Lead Monetize Evangelize
Design the minimum viable product
Document and drive feature development
Work across disciplines to drive creation of all artifacts necessary (e.g. use-cases, architecture, sitemap, wireframes, content, etc.)
Establish the product roadmap - Manage the flow of work; anticipate and trouble-shoot
Iterate and create repeatable and scalable practices to drive ease + efficiency
Own the business – every decision is framed by the cost of doing business and the value created
Measure engagement and obtain feedback for fast iteration to get to product-market fit and to create monetization options
Sell the vision – internally and externally – establish advocacy and develop champions
Be a scout – get in front to clear roadblocks and hurdles to make everyone’s jobs easier
Bring all disciplines
together (right place, right time) – to realize the business
strategy – from concept to execution - seamlessly
Bottom Line:There’s a difference between being a decisive leader and a passive ‘manager’
13
Approaching the problem
14
What ‘type’ is your challenge and what assets do you have?
Is it evolutionary? Is it more important to go after a quick win?
Or is it revolutionary? Are you solving something everyone else has failed at?
Are you going to build, buy, or integrate? What pieces do you have in place?
15
Map the battlefield– they’re not gonna let you just build it
Operationalize
Build
Lynchpin
Budget/
P&L
Legal/Risk
Exec Spons
or Mgmt
PRD/MVP
Wireframes
Taskflow
Sitemap
Use-casesTest Scripts
Content
Schema
Prod Architecture
Cashflow
Progress Reports
Regulatory Compliance
Fraud Models
Cust Support
Svcing Infrastructure
Admin Site
Fin/Acctg Processes Analytics
System Admin Approach
Engg
Design/
Content
PM/Analy
st
QA
Identify roadblocks early, can you use influencers to open those gates?
16
Focus on the minimum viable product, not ideal product
Customer
Problem Discover
y
Define Hypotheses + MVP
Test MVP
Measure+
Validate
Product-Market
Fit?
Exit
Scale + Monetize (as-is)
Pivot(s) + Scale + Monetize
References:1) Steve Blank2) Sean Ellis3) Eric Ries
Use Qualitative + Quantitative methods to test the MVP
Look for pivots across solution use-cases
Find the right set of problems to solve
Prioritize the problem you think you can solve
Build and launch the MVP to test hypotheses
Based on iterations, determine the product fits the market needs
17
Pick depth of insights over breadth
There’s never enough time or money to do the ‘ideal’ amount of research
Use syndicated research to get breadth but pay for qualitative insights to get depth
Focus on the behaviors that will “make” your product – use that as a basis for your metrics
18
Eat your own dog food and make it interesting
“Personality is the API for loyalty”
Find ways to live the product, regardless of your role on the team
Belief is important for the team; if you don’t believe no one else will
Sources: bigorangeslide.com, Fred Wilson’s A VC Blog
Fake it till you make it
19
User enrolls
Log inEnter
Expenses
Algorithm
Send IOUs/Req
uest $
Make a Payment
Settlement Account
Route funds to
requester
Receive Money
Major Capability Gap
If there are show-stopping gaps…
Find a way to boot-strap to drive traction and hit critical mass
Sample User Flow Diagram
20
Customizing the Process
21
Find the path that fits your type of innovation
EvolutionSystematic innovation processes and portfolios managed at an enterprise level
RevolutionSmall group of intrapreneurs, skunkworks, or tiger teams looking for opportunities to fail fast
Socratic Scoring1. How attractive is the opportunity?2. What is the level of alignment with our strategic
objectives?3. How actionable is the opportunity?
22
Buyer beware – shiny new processes need to be broken in
Iteration 0 Iteration 1 Iteration 2
8 weeksILLUSTRATIVE (Not to Scale)
CYCLE 1
CYCLE 2
• MVP and Vision is set• Base BRD = PRD +
Product/Business Strategy
• Core sitemap, high level task-flows created
• Technical architecture established and environment/stack is final
• Project plan (baseline) created and feature-set grouped across iterations
• Artifacts for Iter. 2 coding are prepared
• Includes – PRD Update, Wireframes, Use-cases, QA test scripts, etc.
• Code, test, and deploy Iter. 1 feature set
• Code, test, and deploy Iter. 2 feature set
• Artifact creation for Iter. 3
• Between specific iterations, conducted multiple ‘Listening Labs’ (usability) to ensure the MVP is still relevant and sound – using low-fidelity prototypes
• Established the overall QA/Alpha-testing strategy and recruited towards later milestone deployment dates to start uncovering bugs, loopholes, and edge cases
• Landing pages, FAQs, Demo/Videos were developed at a later stage based on progress
Iteration 3 Iteration 4 Iteration ‘n’
Agile (Scrum-based) Development
Agile = Co-location + fully dedicated resources + design/dev in synch
23
If at first you don’t succeed… look for the pivot
Savings towards goals
Small Business
Consumers
Cust
omer
Att
ribut
es
More variety in use-cases
Prosumers
Less variety in use-cases
Lower $ volumes and transaction
Higher $ volumes and transactions
Similar
Similar
Lower need for robust reporting, tracking, and formal messaging
Greater need for robust reporting, tracking, and formal messaging
Similar
Less inclined to pay for premium features
More inclined to pay for premium features/services
Similar
Collecting gift $ (self)
Collecting towards
trip/event
Ad hoc social events
Pooling for group gift
Ongoing room-mate expenses
Collecting team, club, group dues
Simple IOU(Just-Pay-Me
URL)
Landlord collecting
tenant dues
Non-profit raising $ /
collecting dues
Micro-biz billing services
Micro-biz merchant account
Parent-child money
management
Individual raising $ for
charities
Consumer Plus
Consumer Pro
Consumer Basic
24
Design for metrics with the ‘story’ in mind
What info do you need to tell the ‘best story’?
Measure often and early, rethink features that can’t be measured
Measurement is a feature, not an afterthought
Keep it simple – if you can’t explain it quickly then it’s not useful
25
What would it look like if work stops now? Be Frugal
Be frugal where you allocate the money; luxuries come later
You’re going to need a buffer, something always goes wrong
If this was your last dollar, what would it look like if you had to launch now?
26
Telling the Story
27
Crafting your story is a journey, it requires constant (and somewhat obsessive) iteration
A story is better than a ‘pitch’ in consensus environments
Components Why does the problem even
matter? Why is the competition failing
or what are they missing? Why is your solution different
or better (and for whom)? Can you really get this done
and for how much? Who benefits inside the org
(aside from the customers)?
Be your own devil’s advocate – what’s the story against your story?
28
Stay under the radar until you’re ready for primetime
Resist the temptation to surface with a half-baked story
First impression can make or break you; test with low-risk people
Play the long game – be patient and resist any instant-gratification urge for publicity
29
When you’re ready, script your game-plan around your audience’s agenda
Everyone is interested in the same thing – WIIFM
Make a list of influencers for your roadshow – what’s their agenda?
It’s a numbers game – build a coalition of support (inside and outside the org)
Sources: johnlesko.biz
30
Know your role in the game in order to perfect the message
What’s the bigger picture and where does your initiative fit?
What are the priorities for your organization?
The ideal story = high upside + low downside
31
Thank You!
Harsh Jawharkar
http://www.linkedin.com/in/harsh
https://www.twitter.com/hjawharkar