An exploration of Step 3 of the 4 steps to the Epiphany in the context of the Lean Canvas. Creation = Solution/Customer Fit. What are the artifacts that you need to be building up as you answer the question of "Is this a Business?"
6. ● Content Strategy
○ Channels
○ Niche
○ Narrative
● Content Calendar
● CashFlow Projection
● Sales Funnel Metrics → Key Metrics
You need to do more of this
7. Is this a Business?
→ Is there customer demand?
→ Is it big enough?
→ Can we reach customer cost effectively?
→ Will they pay enough to be a business?
8. Lab Notebook
● Hypothesis
● Test to falsify the hypothesis
● Demographic of the target audience
● Details of Interviews
● Interview Script
● Offer
● Results
● Learnings
13. Where are your customers?
(Sub sub sub niche demographic)
● Blog
● Youtube
● Facebook
● Twitter
● Reddit?
● Google mail
● Slack?
14. Topic Map → Title list
● First about the problem
● Then about the existing solutions
● Then about High Level Concept
● Then about the How /Why of it all
● Then about the Unique Value Proposition
15. What is the heartbeat of the channels?
Match that heartbeat.
Build the Narrative
29. Do the math…..
How many phone calls do you have to
do each day to get to 100 paying
customers?
How many days will you need to call?
30.
31. It matters what your conversion rate is.
Best to get conversion rate high before scaling
32. Cashflow -
● Unit Economics
● Assumptions
● Income
● Expenses
● Bottom Line
● Cost of Customer
Acquisition
● Life Time Value
● Churn
● Revenue
● Change in Revenue
● Margin
35. At what price would you think product
is a bargain
At what price would you begin to
think product is getting expensive,
but you still might consider it?
At what price would you begin to
think product is too expensive to
consider?
At what price would you begin to
think product is so inexpensive that
you would question the quality and
not consider it?
43. What does a feature Map look like
Feature Map
Early Adopters
Sub-Segments
Sale Funnel Metrics
Feature cluster → Solution
High level Concept
Content Strategy
Validation
Key Metrics (AARRR)
Unique Value Proposition
Problem Solution FitProduct Name
Feature Name
Benefit of Feature
Problem the Feature addresses
On the customer side, track
Feature name
Benefit
Like / Don’t like / Wish for
Then categorize type :
Features are not linear high to low.
But:
- Mandatory
- Linear
- Delighter
- Indifferent
- Detractor
44. NOT THIS
This seems to only
consider time as a
priority.
It does not show value
to the customer
subsegments.
45. What is an experiment that validates Problem Solution fit?
Demographic filtering
Sign up for Service on website
Pay - Offers always need a commitment of resources to be measurable
Provide service by hand to a limited number of people ala Aardvark
How long does it take to do this with a web-based progressive app on your phone?
46. Market Product
Generative - Customer discovery interviews
- Contextual inquiry/ethnography
- Data mining
- Focus groups*
- Surveys* (open-ended)
- Solution interview
- Contextual inquiry/ethnography
- Demo pitch
- Concierge test/consulting
- Competitor usability
- Picnic in the graveyard
Evaluative - 5-second tests
- Comprehension
- Conjoint analysis
- Data mining/market research
- Surveys* (closed)
- Smoke tests (e.g. video, landing page
- Sales pitch
- Pre-sales
- Flyers
- Pocket test
- Event
- Fake door
- Paper prototypes
- Clickable prototypes
- Usability
- Hallway
- Live
- Remote
- Wizard of Oz
- Takeaway
- Functioning products
- Analytics/dashboards
- Surveys* (e.g. Net promoter score, Product/market fit survey)
Index of Methods
These are from the Startup Real Book
47. Startup Real book by Tristan Kromer
https://read.realstartupbook.com/
55. Feature Map
Early Adopters
Sub-Segments
Sale Funnel Metrics
Feature cluster → Solution
High level Concept
Content Strategy
Validation
Key Metrics (AARRR)
Unique Value Proposition
Problem Solution Fit
What does a solution prototype look like
56. Feature Map
Early Adopters
Sub-Segments
Sale Funnel Metrics
Feature cluster → Solution
High level Concept
Content Strategy
Validation
Key Metrics (AARRR)
Unique Value Proposition
Problem Solution Fit
What is my Unique Value Proposition?
57.
58. Feature Map
Early Adopters
Sub-Segments
Sale Funnel Metrics
Feature cluster → Solution
High level Concept
Content Strategy
Validation
Key Metrics (AARRR)
Unique Value Proposition
Problem Solution Fit
How are my sub-segments converting and how do I
measure it?
59. Feature Map
Early Adopters
Sub-Segments
Sale Funnel Metrics
Feature cluster → Solution
High level Concept
Content Strategy
Validation
Key Metrics (AARRR)
Unique Value Proposition
Problem Solution Fit
What is the High level concept that converts best?
60. Feature Map
Early
Adopters
Sub-Segments
Sale Funnel Metrics
Feature cluster → Solution
High level Concept
Content Strategy
Validation
Key Metrics (AARRR)
Unique Value Proposition
Problem Solution Fit
What are the fundamental topics,
and channels that convert best?
Topic Map
Title list
13 tweets from each Blog post
Multimedia channels
Content Calendar
See the T-shaped Marketer
Notas del editor
For the Validation Phase, we move towards the Solution + Key Metrics + Unique Value Proposition and High level Concept
To set the frame, we are walking through the 4 steps to the epiphany and tieing that to the Lean Canvas
We are working on the second step - Validation
We see that Validation can be thought of as Problem Solution Fit.
We are working on small experiments , creating and testing hypotheses with a Build Measure Learn loop.
Ash Maurya drives this deeper by his articulation of GO LEAN
Goal
Observe
Leverage
Experiment
Analyze
Next Action
Given a list of features, what do we know about how the markets care about them.
Instead of a “strategic Plan” or a “Product roadmap”, we are still in the discovery stage.
We are trying to learn about where the market is at the moment.
(Markets change over time)
What are the features of the product?
If you were to build one feature, which would you build first?
Normally, people make a list of features and then build them in order of importance.
Who decides importance?
First -> Last
Important -> least important
But the world does not fit into straight lines all the time.
For some markets, some features are vital, for others they are a distraction.
Categorize the Features into :
Mandatory
Linear
Delighter
Indifferent
Detractor
These can and will be different for different sub-segments of the customer base.
What is the mechanism you will use to track your experiments. See David Bland website for suggestions.
Starting point
We know the sub demographic that cares about the problem,
We have a list of them in our CRM, with demographic notes
We know what problems they have.
We know what the existing solutions are
Do we know what features they care about and which features they don’t care about?
… At this point we should.
But if we don’t, we should engage in customer development around the products that are
The existing features and see what things they like, what they don’t like, what they wish for.
Diving deep into what people do now and what they like and what they don’t like and what is missing.
Features need to be mapped to benefits.
It is not the drill motor power, but the convenience of the hole in the wall.
(or better yet, the picture hung)