Presentation on theme: "Lean Startup Presented by:"— Presentation transcript:
1Using Agile Methodology for Market Feedback in Risky and Uncertain Early Product Development Lean StartupPresented by:Damian Dingley, Vantage Software Inc. & Veracity Solutions
2Introduction “The Lean Startup” by Eric Ries or “Improve the success rate of new innovative products”New product is unpredictableApply the scientific method to early product development.Build, test, learn and pivot –quickly.Reduce uncertainty and foster commitment.Don’t measure doing, measure output and results.
3Applies to any new product development: Large CorporationsGarage startups
43 Principals Vision Steer Accelerate Entrepreneurial management Build-measure-learn feedback loopAccelerateVelocity improvements using Lean, Agile and KanbanJust do it mentality. Manage the enthusiasm!
6Ideas Leap of faith assumptions High uncertainty Temper with: BuildProductMeasureDataLearnIdeasLeap of faith assumptionsHigh uncertaintyTemper with:HypothesisTry and Test (as soon as possible)Prioritize based on business value and riskEpics and User Stories describing vision & hypothesis with tests to measure outcomes
7Build MVP –Minimum Viable Product Guidelines: Lacks features IdeasBuildProductMeasureDataLearnBuildMVP –Minimum Viable ProductGuidelines:Lacks featuresMinimum effortDesigned to alter customer behavior (for the better)Aim to deploy quicklyHere are some notesTry some
8Product Deploy and Observe (Get it in front of the customer) IdeasBuildProductMeasureDataLearnProductDeploy and Observe(Get it in front of the customer)Guidelines:Capture feedbackObserve reactionsHere are some notesTry some
9Measure Innovation accounting Guidelines: Capture feedback IdeasBuildProductMeasureDataLearnMeasureInnovation accountingGuidelines:Capture feedbackObserve reactionsCollect information needed to validate hypotheses and tests identified in the User StoryQuantitative = are our efforts & ideas bearing fruit.
10Data Collect useful data – Market, customer behavior & feedback IdeasBuildProductMeasureDataLearnDataCollect useful data –Market, customer behavior & feedbackQualitative & QuantitativeApply cohort analysisGuidelines:Group customersObserve group performanceQualitative –users like/dislikeQuantitative – how many?Cohort example:New customers who joined broken into groups –RegisteredRegistered and logged inRegistered, logged in and requested further infoRegistered, logged in, purchased or subscribed (conversion/action)
11Learn Use feedback to learn Test against original hypothesis IdeasBuildProductMeasureDataLearnLearnUse feedback to learnTest against original hypothesisPivot (or Persevere)Guidelines:Adjust priorities on the backlogCreate new user storiesUpdate release plansNo point building something nobody uses or wants!
12Pivot or Persevere? Decision time -based on facts (and emotions) Facts –quantitative and qualitativeEmotions –channel human creativity in most productive formGuidelines:Was the hypothesis correct?Consider as part of the regular vision & release planning effortIf pivoting, keep one foot in the previous cycle/iteration while executing fundamental change in strategy./zoom in/zoom out/customer segment/customer need/platform/business architecturePivot examples/types – “special kind of change, designed to test a new fundamental hypothesis”.Zoom in.Zoom out.Customer segment.Customer need.Platform.Business –B2B, Appliance, Enterprise, high margin-high cost
13Iterative Development IdeasBuildProductMeasureDataLearnNot just development milestones, learning milestones too!
14Kanban & Agile = Accelerate BacklogIn ProgressBuiltValidateADFBECBacklogIn ProgressBuiltValidateGDFHBECANo bucket contains more than three Epics/User Stories.Eg.Epic = Customers interested in signing upEpic = Customers would engage in site tools (rentention)Epic = Customers would tell friends (socialize)2 or three iterations split-testing, adding functionailty –focusing on groups and split group of customers and compareGrowth not matching expectations.Pivot = Zoom on specific product feature.BacklogIn ProgressBuiltValidateIGDHEFCA
15Damian Dingley, Vantage Software Inc. & Veracity Solutions Thankyou Using Agile Methodology for Market Feedback in Risky and Uncertain Early Product DevelopmentLean StartupPresented by:Damian Dingley, Vantage Software Inc. & Veracity Solutions