In this presentation Frank shares: 1) How Restin went from operating pay-per-use robotic massage chairs on college campuses to helping PricewaterhouseCoopers engage attendees at SXSW. 2) How the lean startup method helped decrease time between pivots and the cost of acquiring validated learning. 3) What metrics are most important when deciding to pivot or persevere.

1. Pivot to Find
Product / Market Fit
Frank V. Taylor

2. @frankvtaylor#leandc
Ideation

3. Iteration - I
Problem: Need cheap / safe / legal stress relief
@frankvtaylor#leandc
Customer: Students with $ on campus ID card
Solution: Pay-per-use massage chairs with
ID card reader payment system

4. MVP - I
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5. Validated Learning 1
Assumption Tested: Students will use
massage chairs to relieve stress.
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Experiment: 1 chair in library for 9 days (free)
Result: 550 uses. Assumption Validated

6. Validated Learning 2
Assumption: Students will pay for the service.
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Experiment: Surveyed 170 users.
Result: 50% reported willingness to pay.
Assumption Validated (but suspect)

7. Important!
“People are terrible
predictors of their own
future behavior.”
@frankvtaylor#leandc

8. Working* Product
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9. Iteration - II.a
Problem: Stressed out students & negative
perception on campus
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Customer: Student Assembly w/ big slush fund
Solution: Sponsor free massages in the
library during final exam week

10. Validated Learning 1
Assumption: Student Assembly will pay to
help students relax & improve image on
campus.
@frankvtaylor#leandc
Experiment: Pitched sponsorship.
Result: Paid $8K. Assumption Validated

11. Iteration - II.b
Problem: Money to spend?
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Customer: Student Center facility managers
Solution: Provide free massages in the
student center all year

12. Validated Learning 2
Assumption: This is a repeatable business
model.
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Experiment: Pitched to 50 other schools.
Result: 0/50 buy. Assumption Invalidated

13. Important!
“Test assumptions about
customer behaviors that
drive growth.”
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14. Iteration - II.a
Problem: Stressed out students & negative
perception on campus
@frankvtaylor#leandc
Customer: Student Assembly w/ big slush fund
Solution: Sponsor free massages in the
library during final exam week

15. Iteration - III
Problem: Need to attract a captive audience
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Customer: Trade show exhibitors
Solution: Provide free massages in trade
show exhibit space

16. Validated Learning 1
Assumption: Event marketers will rent our
massage chairs.
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Experiment: Pitched at industry event.
Result: Restin unit too heavy. Invalidated.

17. Golden Nugget of Info
@frankvtaylor#leandc
Do you rent regular
massage chairs...like the
ones at Brookstone?

18. Validated Learning 2
Assumption: Event marketers will rent regular
massage chairs.
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Experiment: Pitched via website & SEO.
Result: Paying customers in 3 months. 6-figure
revenue in 12 months. Assumption Validated.

19. Success!
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