Step 24: Develop a Product Plan

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Presentation transcript:

Step 24: Develop a Product Plan

Outline Overview Workshop December 4, 2018

Overview This step: Go beyond the MVBP to determine which features to build out for beachhead market Determine which adjacent markets you will sell to after dominating beachhead (And how product will change for new market) December 4, 2018

Previous step: showed that “dogs will eat the dog food” Overview Previous step: showed that “dogs will eat the dog food” Now: map out growth strategy for product Product Plan builds on work from step 14 (TAM for Follow-ons) December 4, 2018

For MVBP, put number of features on hold Overview For MVBP, put number of features on hold Product Plan – figure out which features to incorporate Focus on Persona’s needs (not coolest features) Good place to start: focus on next two versions of product December 4, 2018

Continue to make / test assumptions related to customer and product Overview Product development: Feature + functions should be linked to specific benefits that will make product more valuable Continue to make / test assumptions related to customer and product Be open to changing the plan based on new data Balance planning and flexibility December 4, 2018

Be open to changing the plan based on new data Overview Be open to changing the plan based on new data December 4, 2018

Include quality in development process Overview Include quality in development process Develop protocols to validate new features before release Unit, integration, system tests Acceptance tests! December 4, 2018

Think about when to expand to new markets Overview Think about when to expand to new markets When your venture is cash-positive Will also need to re-estimate TAM for such markets Remember: only change one variable at a time Either Product or Customer, not both December 4, 2018

Outline Overview Workshop December 4, 2018

Workshop Worksheet December 4, 2018