RISE Austin 2013 Session at Tech Ranch Austin, May 13, 2013
Most start-up companies begin with what they think is a brilliant idea and they immediately jump to building the product, and many of these products suck. Creating innovative products that result in market breakthrough requires a process of multiple iterations of discovery that drive you deeper into understanding the market problems and how to solve them with a differentiated solution. Breakthrough products are based upon solving a significant Market Problem with a Product and Business Model that create a competitive advantage, and a Market Strategy that motivates buyers to purchase your product. In this session, learn this iterative discovery process that leads to breakthrough products and how to apply it to your own products.
unwanted pregnancy Kit [+918133066128] Abortion Pills IN Dubai UAE Abudhabi
How to create products that don't suck RISE 2013
1. Welcome to
RISE WEEK 2013
How to Create Products That Don’t Suck
Hosted by
Tom Evans
The Lûcrum Group
@napkintorevenue
www.napkintorevenue.com
2. High New Product Failure Rate
• Robert G Cooper: One out of four
development projects succeeds commercially.
(i.e., 75% failure rate)
• Jack Gordon: In the world we live in,
somewhere between 80 percent and 95
percent of new product introductions fail.
Copyright 2012 - LÛCRUM
8. Keys to Products That Don’t Suck
• Compelling Market Opportunity
– Big painful issues
– That many in your target market
– Are willing to pay to solve
• Compelling Solution
– Differentiated Value Proposition
– Profitable business model
– Time to market
• Compelling Market Strategy
– Motivates target market
– To solve problem with your solution
Discovery
+
Validation
18. Henry Ford’s Quote
“If I had asked people what they wanted,
they would have said faster horses.”
Copyright 2011 - LÛCRUM
19. What Do They Need (To Do)?
“People don't want to
buy a
quarter-inch drill. They
want a quarter-inch
hole!”
–Theodore Levitt
Copyright 2011 - LÛCRUM
20. What We Want to Identify
• Problems, Goals, Needs
– What do they want to do that they can’t do?
– What do they want to improve (decrease/increase)?
• Why is this important?
• When does this happen (usage scenarios)
• How do you currently do this?
• What is your current satisfaction?
• What is the impact?
Copyright 2011 - LÛCRUM
29. COMMUNITY SUPPORT
Did you enjoy this session?
Please support local entrepreneurs and help us to keep this conference free.
RISE is a non-profit, and your contributions help us continue delivering the
value of a high-dollar conference with an unbeatable price tag.
Please donate at www.riseglobal.org/donate
Be sure to check out our other sessions and special events
during RISE Week 2013 at www.riseglobal.org/austin!
The mission of RISE is to inspire and empower entrepreneurs at all stages.