Dan Olsen- Productized Masterclass

Dan Olsen
How to Build the Right Product

My Background
• Engineering: coding, submarine design
• Stanford MBA
• Product management leader, Intuit & startups
• Author, The Lean Product Playbook
• Product trainer & consultant
• Founder, Lean Product Meetup
My website: https://dan-olsen.com

“With great responsibility
comes NO power”
Product Manager’s motto:
Spiderman’s motto:
“With great power comes
great responsibility”
© 2021 @danolsen

How the customer
described it
What was ready by the
original launch date
How the PM
envisioned it
The alpha version
of the product
The beta version
of the product
What Marketing
advertised
What the Sales
team sold
What the customer
really wanted

That’s Why I Wrote
© 2021 @danolsen

The Product-Market Fit Pyramid
© 2021 @danolsen

The Lean Product Process
1. Determine your target customer
2. Identify underserved customer needs
3. Define your value proposition
4. Specify your MVP feature set
5. Create your MVP prototype
6. Test your MVP with customers
© 2021 @danolsen

Problem Space vs. Solution Space
Problem Space
n A customer problem,
need or benefit that
the product should
address
n A well-written user
story:
“As a __ , I want to __ ,
so I can __.”
Solution Space
n A specific
implementation or
design to address the
customer need
© 2021 @danolsen

Problem Space vs. Solution Space
Ability to write in space
(zero gravity)
Solution Space
Space pen: $1 M R&D cost
Russians: pencil
Problem Space
© 2021 @danolsen

Avoid
solution
pollution
by asking “Why?” © 2021 @danolsen

Problem Space
(user benefits)
Problem vs. Solution Space: Product Level
Solution Space
(product)
TurboTax
TaxCut
Pen and
paper
© 2021 @danolsen
Prepare
my taxes

Start by Exploring Problem Space
Problem Space
(user benefits)
Solution Space
(product)
Prepare
my taxes
File my
taxes
Check my
taxes
Maximize my
deductions
Reduce my
audit risk
© 2021 @danolsen

Problem Space Definition for TurboTax
Save me time
filing taxes
Save me time
preparing taxes
Maximize my
tax deductions
Check my
return
Reduce my
audit risk
Help me prepare
my taxes
Improve my
confidence
Save time
Save money
Cost me less
than a CPA

Prioritizing Needs: Importance vs. Satisfaction
Importance
of
User
Need
User Satisfaction with Current Alternatives
Low High
Copyright © 2021 @danolsen
High
Low

Extremely
Satisfied
Extremely
Dissatisfied
Moderately
Dissatisfied
Somewhat
Dissatisfied
Moderately
Satisfied
Somewhat
Satisfied
Neither
Satisfied
nor
Dissatisfied
Not
Important
Slightly
Important
Moderately
Important
Very
Important
Extremely
Important
How important is <Need X>?
How satisfied are you with how <Need X> is being met?

Importance
of
User
Need
Low High
Low
High
Not Worth Going After

Importance
of
User
Need
Competitive
Market
Low High
Low
High

Importance
of
User
Need
Low High
Low
High

Importance
of
User
Need
Competitive
Market
Low High
Low
High

Importance
of
User
Need
Competitive
Market
Opportunity
Low High
Low
High

Segway’s Hypothesis: Speed is High Importance
Importance
of
User
Need
Low High
Low
High Travel short distances quickly

Segway’s Hypothesis
Importance
of
User
Need
Low High
Low
High
Walking Segway

Most people didn’t consider Segway’s
speed benefit important
It turned out that only
2 customer segments
found the speed benefit important
Who?

What is it about
mall cops and tourists that makes
the Segway appealing?
They walk A LOT:
long distances and/or frequently

What customer need does Uber address?
Importance
of
User
Need
Low High
Low
High Be driven somewhere

Low Satisfaction with Taxis as a Solution
Importance
of
User
Need
Low High
Low
High
Taxis

Uber Meets the Need with Higher Satisfaction
Importance
of
User
Need
Low High
Low
High
Taxis

Creating Customer Value
Importance
of
User
Need
User Satisfaction with the Product
Low High
Area =
Customer
Value
Created
Area =
Opportunity
to Create
Customer
Value
Low
High

Calculating the Opportunity Score
Importance
of
User
Need
User Satisfaction with the Product
Low High
The closer to this corner,
the greater the opportunity
to create customer value
Opportunity
Score
= Importance x (1 – Satisfaction)
Low
High

Importance
Satisfaction
Opportunity
score
Opportunity Score
© 2021 @danolsen

Users Rated 13 Key Features in a Survey
Recommended reading:
“What Customers Want” by Anthony Ulwick
Great
Bad
© 2021 @danolsen
Importance
Satisfaction

What is Your Value Proposition?
n Which customer needs will your product
address?
n How will your product be better than
competitors?

Kano
Model
Need fully met
Need not met
© 2021 @danolsen

Kano
Model
User Satisfaction
User Dissatisfaction
Need fully met
Need not met
© 2021 @danolsen

Kano
Model
User Satisfaction
Performance
Need fully met
Need not met
© 2021 @danolsen

Kano
Model
User Satisfaction
Performance
Must Have
Need fully met
Need not met
© 2021 @danolsen

Kano
Model
User Satisfaction
Performance
Delighter (wow)
Must Have
Need fully met
Need not met
© 2021 @danolsen

Kano
Model
User Satisfaction
Performance
Delighter (wow)
Must Have
Need fully met
Need not met
Needs & features
migrate over time
© 2021 @danolsen

The Value Proposition Grid
Must Have Benefit 1
Performance Benefit 1
Delighter Benefit 1
Delighter Benefit 2
© 2021 @danolsen

Must Have Benefit 1 Y Y
Performance Benefit 1 High Low
Performance Benefit 2 Low High
Performance Benefit 3 Med Med
Delighter Benefit 1 Y -
Delighter Benefit 2 - -
© 2021 @danolsen

Must Have Benefit 1 Y Y Y
Performance Benefit 1 High Low Med
Performance Benefit 2 Low High Low
Performance Benefit 3 Med Med High
Delighter Benefit 1 Y - -
Delighter Benefit 2 - - Y
© 2021 @danolsen

Must Have Benefit 1 Y Y Y
Performance Benefit 1 High Low Med
Performance Benefit 2 Low High Low
Performance Benefit 3 Med Med High
Delighter Benefit 1 Y - -
Delighter Benefit 2 - - Y
© 2021 @danolsen
Unique differentiators

Photo upload
UX hack
Problem Space
Instagram: Problem vs. Solution Space
Solution Space
Filters
Square
aspect ratio
© 2021 @danolsen
Make my
photos look
good
Post my
photos quickly

Other Photo
Sharing Apps Instagram
Must Haves
Performance benefits
Delighters
© 2021 @danolsen
Instagram Value Proposition

Other Photo
Must Haves
Post my photos quickly
(photo upload UX hack)
Low High
Delighters
Make my photos look good
(filters, square aspect ratio)
N Y
© 2021 @danolsen

Mapping from Customer Benefits to Feature Chunks
Must
Have 1
Performance
1
Delighter
1
Delighter
2
Must
Have 2
Performance
2
Performance
3
Benefits:
M1A P1A D2A
M2A P2A
P3B
Features:
P1B D2B
P2B
P3C
P3A
P1C
P1D

Prioritizing Product Ideas by ROI
Investment (developer-weeks)
Return
(Value
Created)
Idea C
Idea B
Idea D
Idea A
Idea F
1
1
2 3 4
2
3
4
?

Product Roadmap:
Features by Version or Time
Must Have Benefit 1
Delighter Benefit 1
Must Have Benefit 2
Delighter Benefit 2
M1A
Time
v1 v1.5 v2 v2.5
M2A
P3A
P1B
P3B
P2A
P1A
D2A
P3C
D2B
MVP
candidate

Learn more & join free: meetup.com/lean-product

For my slides and to share your feedback,
please take this short survey:
http://bit.ly/mcdan
Point your phone
camera here →
@danolsen
dan-olsen.com
youtube.com/danolsen
meetup.com/lean-product
Happy to connect on LinkedIn
Obrigado!

Dan Olsen- Productized Masterclass

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