[Startup online] Slide Session 2: Product Development

Great!

Let’s build a

ProduckAnd try not to end up with a Prosuck :D

Who will use it?

Make clear who are your target customers.

Don’t say “every one who is single”

Should say: 2,5M singles, living in big cities, having internet access, age 22-27, young officers & “rich” students

What can it do (for me?)

Make clear the benefit it brings to the user

My product, [name], can help you to [benefit]With [unique approach]

Eg:My product, Noi.vn, can help you to meet with potential datesBy offering 5,000 offline events/year

How does it make $$$?

Make clear the numbers. Eg: the basic service is free, but if you want to use premium features, it cost $1/month Show to investor: 10% paid of 500,000 members = 50K x $1 =$50K/month

If it’s free, please estimate ARPU via AD salesEg: we’ll make 500M/month via ADs with 500,000 members. ARPU = 1,000VND

DEVELOPMENT LIFECYCLE

The process

Ideas

Market research

Prototype

Development

Testing/Feedback

Pilot-beta

Launch

Feedback/Modification

Takecare!

I have an idea

To solve what ONE problem? Just 1 specific problem.

Should come from REAL world. Look around you.

Don’t think productThink human needs

Mocking it up

Draw on paper

Mock it up on PowerPoint

Sample Storyboard

Ask

Bring that mockup with you everywhere.

Ask. Ask. Ask:

Ask what?Do you need it? Why not?Do you like it? Like what most?Will you pay for it? How much can you afford?

Benchmarking

Study similar models in other country & in Vietnam.

New-to-the-worldNew-to-the-countryNew-to-the-target segment

Learn how it grows, how it dies, how it make $$$

Develop it

Okay. Great. Let’s do it

Make a draft plan (ask the developers) for product development

Stand by side, make sure they don’t get any shits more than your storyboard

Take care of the UI, UX

Test it

Make sure it runs.It it’s still buggy, don’t show demo to the investors.

Alpha version = cannot runBeta version = still cannot run

Use focus group to test. Watch their behavior & gather feedbacks

Feedback

Ask your mum. Don’t ask your teacher or the coders.

Gather feedback based on the MAIN PROBLEM, the UX, UI.

Don’t listen to experienced users demanding new features. You’ll kill them all later

Scalability

It runs well with 10 people. What about 10,000? 1,000,000?

This is the critical part to make the business BIGMySpace died when it grows too fast.

This is also to ensure the investors that you can multiply it, brings to other markets …

User interface (UI)

Make it look beautifulEven it sucks inside, very few investors can read the code :D

Think of a beatiful girlDon’t know how smart she is, but you’ll want to continue talking to her much more than an ugly one, rite?

User experience (UX)

This could make or break your product.

EASYMake sure it’s easy to understand, easy to use, follow all the guidelines.

UC: User contextNokia lession

KISS

SIMPLE

Ongoing development

For sure you’ll need to enhance your product a long the way.

Read the support@... email daily.

Kill the un-needed functions (that YOU thought it was great)

If you end up having 1 or 2 buttons on the home screen, congratulations!

That’s enough bull$$$

1. Focus2. Talk to mama3. Make $$$4. Simple

Oh, still 1 last thing

MOBILE