Product Development

Allan C. Tan

Minimum Viable Product

Minimum Viable Product

• Features to see if something will work.

• Building a product that people will use and pay for.

• Not to see if the product can be built in terms of technical feasibility.

• Days worth of work, not weeks or months.

Traction

• A measurable set of customers or users that serves to prove that your startup is "going places."

Formula

50% Product + 50% Traction = Growth

0% Product + 100% Traction = Superficial

100% Product + 0% Traction = Expensive

Concierge MVP

Generate Interest

Order PageManual

FulfillmentCollect

PaymentAutomate

Traction Development

Optimize MVP

Build Landing Pages

Ad Campaigns

Registration /

Pre-orderA/B Tests

Build Feature MVP

Traction Development

Prototype MVP

Look for Advocates

Build Prototype (Paper / Digital)

Pre-sell / Fundraising

Build MVP

Traction Development

Reuse MVP

Generate Interest

Build from clone /

whitelabelSell

Analyze /Customize

Traction Development

Approach by Market Type

• Existing Market

• New Market

• Cloned Market

• Niche Market

Existing Market

• Tested Idea

• Existing Market

• High Risk

• Tough Competition

Examples:– POS, Inventory

– CRM, ERP

– Social Networking

– Notetaking

Existing Market

Goal: Displace the #1 or disrupt the market

Steps:

1. Identify Unfair Advantage

2. Look for advocates / partners

3. Create Prototype

4. Presell the solution, test the market

5. Build the dream team or outsource partner

6. Sell the solution

New Market

• Untested Idea

• New Market

• No/Low Competition

• High Risk

Examples:

• Not possible by definition

New Market

Goal: Develop the new marketSteps:1. Build landing page, vids, ads, etc.2. Talk to domain experts3. Test the market4. Build the dream team or technical partner5. Develop the MVP6. Teach the market and gain traction7. Maintain your leadership

Clone Market

• Tested Idea

• Localized Market

• Low Competition

• High Risk

Examples:

– eCommerce, Buy and Sell

– Crowdsourcing, Microtasking

Clone Market

Goal: Dominate the Local MarketStep:1. Validate the local market2. Check competition3. Look for existing solution

– Clone scripts– Commercial software– Whitelabels

4. Customize5. Sell

Niche Market• Tested or Untested Idea

• Domain Expertise

• Low Risk

• Low Competition

Examples:– Relocation Software

– Sports Betting

– Insurance Software

– Legal Research

Niche Market

Goal: Dominate the market

Step:

1. Leverage network and expertise

2. Build prototype

3. Presell

4. Build

5. Sell

Summary

Risk Compe-tition

Concierge MVP

OptimizeMVP

Prototype MVP

ReuseMVP

Existing Market Hi Hi ★ ★ ★★★★★ ★

New Market Hi Lo ★★ ★★★★★ ★★

Clone Market Med Lo ★★ ★ ★★★ ★★★★★

Niche Market Lo Lo ★★★ ★★★★ ★★★★★ ★★

Project Tracking Tools

MVP Tools

Testing Tools

Agile / Scrum

Writing Requirements

Scrum Board

Measuring Progress

• By Business Value, not hours or features.

Resources

• http://media.balsamiq.com/ebooks/Balsamiq-Interviews.pdf

• http://www.usefulusability.com/24-usability-testing-tools/

Thank You

Allan C. Tan, SCEA, PMP

CEO/President

Email: allan@ideyatech.com

http://www.ideyatech.com/

allanctan

@allanctan ph.linkedin.com/in/allanctan/