This document outlines a 12-step process for product development: 1. Identify mega-trends, mega-truths, barriers, and competitors in the state-of-the-art. 2. Determine the size and market potential of the idea. 3. Evaluate the value proposition and whether customers would pay more for improvements. 4. Estimate the perceived cost of the idea to customers in terms of disruption, data migration, etc. and ways to reduce costs. 5. Generate alternative ideas and benchmark them objectively without bias before testing prototypes with real clients and iterating based on feedback. The challenges are developing an idea that is 10x better than incumbents to attract

1. Product Development
Pedro Bizarro – CSO/FeedZai
pedro.bizarro@feedzai.com

2. Product Development
or how to transform ideas into products

3. Step 1
Identify
mega-trends
Smartphones everywhere
People living to 100
DNA sequencing is cheap
Technology/Society/Policy/…

4. Step 2
Identify mega-truths
Cheaper is better
Easy beats free
People love communicating

5. Step 3
Identify barriers
Legal barriers
Physical barriers
International
Patents

6. Step 4
Identify competitors
and state-of-the-art
It is a race!

7. Opportunity Identification
Identify mega-trends
Identify mega-truths
Identify barriers
Identify competitors and SofA

8. Step 5
How big is
your idea?
Improved feature?
New feature?
New product?
New company?
New industry?

9. Step 6
How big is the
market you want
to conquer?
Greater than
1000M €?
Can you get
10%?

10. Step 7
What is the
value of the idea?
The “so what” test!
Can you charge twice
as much if your site
loads twice as fast?

11. Step 8
What is the perceived cost of your idea?
Migration of data
Disruption of previous solution
How to reduce the cost?
How to wrap it?

12. Opportunity Value
How big is the idea?
How big is the market?
What is the value of the idea?
What is the cost of the idea?

13. Step 9
Generate alternatives
Internal brainstorms
Brainstorms with clients
Plans B, C, D

14. Step 10
Benchmark alternatives
No biases!

15. Step 11
Test before you build it
Mock ups and fakes
Prototypes
Proof-of-concepts

16. Step 12
Test after you build it
Usability tests with real clients
Harsh friends
Your mother

17. Brainstorm & Benchmarking
Generate alternatives
Benchmark alternatives
Test before you build it
Test after you build it

18. Challenge #1
Must be 10x better
than The Incumbents
“Nobody gets fired for
buying IBM”
Corollary:
Only a “crazy” person
buys from a startup

19. Challenge #2
Must be 10x faster
(with little resources)
Iterate fast
Release soon, release often

20. Summary
Identify mega-trends
Identify mega-truths
Identify barriers
Identify competitors and SofA
How big is the idea?
How big is the market?
What is the value of the idea?
What is the cost of the idea?
Generate alternatives
Benchmark alternatives
Test before you build it
Test after you build it

21. Thank you!