Lucy walked through a case study of her recently launched product www.toastgo.com and some lesson and learns of how to build product that will delight the customers. Her customer told her this product is the best one on the market and they love it and staff are fighting over to use it.

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7. Lucy Wang
TONIGHT’S SPEAKER

8. Hello!
I AM LUCY WANG
MIT Sloan MBA
Engineering
SW+HW PM
FIFTHLIGHT->IBM->VECNA->TOAST
8

9. 9
Started in 2011
Boston, MA
In all 50 States
That’s thousands of
restaurants!
$140m Series D
Backed by Bessemer &
Google

10. We empower the
restaurant community
to delight their guests,
do what they love,
and thrive.

11. Core Product
Simplify Ordering &
Frictionless Payments
Optimize Kitchen
& Operations
Real Time Analysis of
Sales, Labor & Inventory
Enhance
Marketing & Loyalty

13. Entertainment,
Alcoholic Beverages
6%
Other
3.4%
Apparel
3.3%
Savings
3.2%
Education
3.2%
RESTAURANTS ARE RIPE FOR INNOVATION
Food is 12.5% of Consumer Spending

14. 14
RESTAURANTS ARE RIPE FOR INNOVATION
Entertainment,
Alcoholic Beverages
6%
Other
3.4%
Apparel
3.3%
Savings
3.2%
Education
3.2%
1 in 12 US Jobs

15. 439,940
restaurant employees
21.5MM
unique diners per month
1,297,426
Orders per day
15

16. “
How can we make the restaurant
experience better for everyone -
servers, GMs, chefs, guests, etc.?
16

17. Toast Go Launch
“This is the best product on the
market,
It is nearly perfect”
“We LOVE LOVE LOVE the Go Tabs!!
They have really changed the game
for us. “
“It is a peace of mind for me knowing
17

18. How to build product that delight
your customers
4 lessons and learns from making of Toast GO
18

19. “
The goal of the Startup Product
Manager is to figure out the right things
to build - The thing that customer want
and will pay for - as quickly as possible
- Eric Ries <Lean Startup>
19

20. 1. Get out of the
building with MVPs
Soak yourself in their world, become
them
20

21. Special Ah-ha Moment: Just enough research, know what to fight for
“I got it! I got it! We
have got to make it 6”
screen”
21

22. “ I don’t know the answer, what is the smallest and quickest
experiment I can design to test the hypothesis?”
22
Sketches, renderings, foam, clay, puppies,
simple things...

23. Does it pass your gut check? What does 550g mean?
23
How do people feel? Is it the lighter the better?

24. Soak yourself in their world
Gain the intuition “Gut” Feel:
◦ Observe the pain point
◦ Show MVPs not Tell
◦ So you know what to fight for
Make friends with least 8-10 local
24

25. 2. Prioritizing
Spend the money on where it matters the
most for the people’s pain point
A is good, and B is good, but can’t have
both 25

26. 26
◦ Don’t need (Printer, 4G
LTE, integrated)
◦ Mobility and Speed
(Wifi, Battery, Drop, water,
build to last )
Will people actually use it? Resist the fear of not having it all

27. Special Ah-ha Moment: Semi Ruggedness, not too thin..
“Now that doesn’t look it is ready for the restaurant
environment”
27

28. Emotional and Social Needs of everyone

29. 29
“Fill the gaps, books, classes...”

30. What matters and what doesn’t matter
Top of mind for the user:
◦ Functional: Speed and Mobile
◦ Emotional: Sense of Confidence
◦ Social: engaging with guests
Don’t forget the Emotional and social
piece, learn from the early adopter 30

31. 3. Pilot and
IterateDeploy wide variety and Monitor Super
Closely
31

32. “It is a
thousand
times better
than the
micros
handheld”
- Ethan from
Flour Cafe

33. Learning from edge use cases

35. Now your MVP is functional product, validate the system as a whole
Prepare to scale:
◦ Broaden your pilot audience (look for
extreme cases)
◦ Evaluate Last minute scope creep
◦ Validate your success story
35

36. 4. Keep Calm
and get ready for the launch
36

37. Special Ah-ha Moment: BFF with your PMM, get out of the building with
her!
“Our server is making
$7000 more in tips per
year due to Toast Go”
- Cory, Manager at Odd
Duck
37

38. Special Ah-ha Moment: Now I can tell it with conviction to
engineers, prospects, sales people: it matters a lot to these
people,
38

39. 39
2 month in, 124% to our ARR goals, record high attach
rate

40. 40
It is a story of 1->100, not a story of 0 ->100
◦ BFF with PMM, early in the process
◦ Strong message on the ROI
◦ Clear Communication with rest of the company
◦ Results driven: Attach Rates and ARRs

41. 41
So what have we learned
- Get out of the building (always, make it an OKR)
knowing what you need answers for and keep
an open mind
- Quick iteration internally and externally with
MVP
- Immerse yourself in their world: Balance Gut,
Empathy and Data

42. 42

43. Some tips for new PM
Congratulations on getting one of the most fun jobs!
43

44. Play the new guy card as long as you can..
Grab coffee with People
◦ At least half of the PM Team, Sales,
marketing, services, engineering
◦ Executive level near to far
◦ State of the Union Sharing with team
◦ Start to build trust...
44

45. Play the new guy card as long as you can..
Grow the roots:
◦ Customer Support & Sales
◦ Listen to sales calls, shadow customers
visits, go-lives, on-site trainings, go out of
the building!
45

46. Play the new guy card as long as you can..
Ship a feature!
◦ Be part of a launch cycle
◦ Cross functional exercise
46

47. Some tips for ppl who is looking
Do your homework
47

48. Think what product would you build and not build, and why
◦ Show that you understand their product,
market, competitor, customers, even just a
little bit
◦ Empathy, Problem Solving, and Scrappiness
◦ Look for company/role that give you
access to the customers, design focused
and fast growing 48

49. 49

50. 50

51. Thanks!
ANY QUESTIONS?
You can find me at
lwang@toasttab.com
Linkedin me!
51

52. Part-time Product Management Courses in
San Francisco, Silicon Valley, Los Angeles, New York, Austin,
Boston, Seattle, Chicago, Denver, London, Toronto
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