I want my bike back - #LsmBoulder 1st Place
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This document describes an iteration process for developing a GPS tracking device and mobile app called "iwantmybikeback" to help bike owners recover stolen bikes. It discusses the target user "Elena" and her needs. Four iterations are described, with assumptions tested and metrics provided. The first iteration of an alarm/RFID/GPS device was validated but subsequent ideas of a fitness subscription app and relying on police reports were invalidated. The fourth iteration of a $100 price point was validated via A/B testing.
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I want my bike back - #LsmBoulder 1st Place
- 1. i want my bike back Lean Startup Machine Boulder, CO May 20, 2012
- 2. Problem: 2 million broken hearts
- 3. SoluDon “iwantmybikeback” GPS tracking device and mobile/ web applicaDon
- 4. Enter, Elena (the target) The Commuter • Bike is integral to life • $500 bike • Disposable income • Trendy • Uses social media • Has a smartphone • Early Adopter • Looking for a soluDon to keep her bike safe
- 5. IteraDons ITERATIONS 1 2 3 4 Test Alarm, RFID, Fitness App People will Price GPS, lock? SubscripDon not act AssumpDon People want Want more FatalisDc People will GPS features pay $100 Metrics VALIDATED INVALIDATED INVALIDATED VALIDATED 8/17 2/12 7/10 21/23 Learned Locks don’t cut No monthly File police $100 is good it fee reports AcDon PIVOT PIVOT PIVOT PERSEVERE
- 6. @wantmybikeback A/B tesEng 10 visits per hour
- 9. QuesDons & Answers THANK YOU.