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A Playbook For Achieving Product-Market Fit: Dan Olsen Elliot Susel
A Playbook For Achieving Product-Market Fit: Dan Olsen Elliot Susel
Product-Market Fit
11.1.2017
Dan Elliot
Olsen Susel
dan@leanstartup.co elliot@leanstartup.co
@danolsen @elliotsusel
Our Background
Dan Olsen Elliot Susel
n Lean Startup Co: Senior n Lean Startup Co: Senior
Faculty Faculty
n Product Management n TrusDfy: SVP Product,
Consultant Growth and Technology
n Author, The Lean n AOL: Head of R&D, Paid
Product Playbook Services
n Intuit: Product leader n Curb: AcDng VP
n Founder, Lean Product Technology
Meetup Silicon Valley
Your Background
Job Company Size
n Entrepreneur n Very small < 10 people
n Product management n Small 11 – 100 people
n UX / Design n Medium 100 – 1,000 people
n Development n Large > 1,000 people
n Data scienDst / analyDcs
n MarkeDng / growth
n Other Market Type
n Enterprise/B2B
n SMB
n Consumer/B2C
n Government
n Other
What is
Product-Market
Fit?
That’s Why I Wrote
Ideal Product
Copyright © 2017 @danolsen
The Lean Product Process
1. Determine your target customer
2. IdenDfy underserved customer needs
3. Define your value proposiDon
4. Specify your MVP feature set
5. Create your MVP prototype
6. Test your MVP with customers
TurboTax
TaxCut
Prepare
my taxes
Check my File my
taxes taxes
Maximize my Reduce my
deductions audit risk
High
Low
Low High
User SaDsfacDon with Current AlternaDves
Copyright © 2017 @danolsen
PrioriDzing Needs: Importance vs. SaDsfacDon
Importance of User Need
High
Low
Low High
User SaDsfacDon with Current AlternaDves
Copyright © 2017 @danolsen
PrioriDzing Needs: Importance vs. SaDsfacDon
Importance of User Need
High
Low
Low High
User SaDsfacDon with Current AlternaDves
Copyright © 2017 @danolsen
PrioriDzing Needs: Importance vs. SaDsfacDon
Importance of User Need
High
CompeDDve
Market
Low
Low High
User SaDsfacDon with Current AlternaDves
Copyright © 2017 @danolsen
PrioriDzing Needs: Importance vs. SaDsfacDon
Importance of User Need
High
Low
Low High
User SaDsfacDon with Current AlternaDves
Copyright © 2017 @danolsen
PrioriDzing Needs: Importance vs.
Importance of User Need
SaDsfacDon
High
CompeDDve
Opportunity Market
Low
Low High
User SaDsfacDon with Current AlternaDves
Copyright © 2017 @danolsen
PrioriDzing Needs: Importance vs. SaDsfacDon
Importance of User Need
High
Low
Low High
User SaDsfacDon with Current AlternaDves
Copyright © 2017 @danolsen
Importance of User Need CreaDng Customer Value
High
Area =
Opportunity
Area = to Create
Customer Customer
Value Value
Created
Low
Low High
User SaDsfacDon with the Product
Copyright © 2017 @danolsen
Users Rated 13 Key Features in a Survey
Great
Bad
Recommended reading:
“What Customers Want” by Anthony Ulwick
The Lean Product Process
1. Determine your target customer
2. IdenDfy underserved customer needs
3. Define your value proposiDon
4. Specify your MVP feature set
5. Create your MVP prototype
6. Test your MVP with customers
Need Need
not met fully met
Need Need
not met fully met
Performance
(more is beler)
Need Need
not met fully met
Must Have
Performance
(more is beler)
Need Need
not met fully met
Must Have
Must Have Benefit 1
Performance Benefit 1
Performance Benefit 2
Performance Benefit 3
Delighter Benefit 1
Delighter Benefit 2
Copyright © 2017 @danolsen
What is Your Value ProposiDon?
n Which user benefits are you providing?
Performance Benefit 1
Performance Benefit 2
Performance Benefit 3
Delighter Benefit 1
Delighter Benefit 2
Copyright © 2017 @danolsen
What is Your Value ProposiDon?
n Which user benefits are you providing?
Delighter Benefit 1 Y -
Delighter Benefit 2 - -
Copyright © 2017 @danolsen
What is Your Value ProposiDon?
n Which user benefits are you providing?
Delighter Benefit 1 Y - -
Delighter Benefit 2 - - Y
Copyright © 2017 @danolsen
The Lean Product Process
1. Determine your target customer
2. IdenDfy underserved customer needs
3. Define your value proposiDon
4. Specify your MVP feature set
5. Create your MVP prototype
6. Test your MVP with customers
Ideas
LEARN BUILD
Data Code
MEASURE
How efficient is the experiment?
Value Produced
Efficiency =
Resources Used
Minimum
Types of MVPs Viable Product
Save Marketing
Trees Report
Marketing Marketing
Score Profile
Save Marketing
Trees Report
Legend
Marketing Marketing
Score Profile Strong appeal
Some appeal
Low appeal
Copyright © 2017 @danolsen
Copyright © 2017 @danolsen
The Lean Product Process
1. Determine your target customer
2. IdenDfy underserved customer needs
3. Define your value proposiDon
4. Specify your MVP feature set
5. Create your MVP prototype
6. Test your MVP with customers
Iterate to improve product-market fit
Dan Elliot
Olsen Susel
dan@leanstartup.co elliot@leanstartup.co
@danolsen @elliotsusel
Book signing Friday at lunch