SlideShare a Scribd company logo
1 of 44
Download to read offline
Proprietary and Confidential
Proprietary and Confidential
START UP
SECRETS
An insider’s guide to unfair competitive advantage
Hi
Turning Products into Companies
by Design & Architecture
twitter: @mjskok startupsecrets.com
Michael J Skok
Proprietary and Confidential
Agenda:
Closing the Product Company GAP by Design & Architecture
 Design
• Product Go To Market Fit
 PVP
 MVP
 MVS
 MRP
 Architecture
• Business Model
 SLIPPERY Products
 Russian Doll Pricing and Packaging
 Whole Product
 Services
@mjskok startupsecrets.comTurning Products Into Companies 9
Proprietary and Confidential
Design for
Product Go To Market fit
 MVP and introducing MVS, MRP
@mjskok startupsecrets.comTurning Products Into Companies 10
Proprietary and Confidential
The Product Market Fit
MarketProduct
Fit
@mjskok startupsecrets.comTurning Products Into Companies 11
Proprietary and Confidential
Adding to Lean Startup thinking…
Minimum Viable
Product (MVP) .
@mjskok startupsecrets.comTurning Products Into Companies 12
MarketProduct
Fit
Proprietary and Confidential
The Product Market Fit Question
here?
here?
here?
here?
MV
P here?
Market
@mjskok startupsecrets.comTurning Products Into Companies 13
Product
Proprietary and Confidential
The Product Market Fit Problem
here?
here?
here?
here?
Fit ?
Stretch
?
MV
P
MVP
++
here?
Market
@mjskok startupsecrets.comTurning Products Into Companies 14
Product
Proprietary and Confidential
Market
not here
not here
not here
not here
Fit
MV
P
@mjskok startupsecrets.comTurning Products Into Companies 15
Product
The Product Market Fit Solution = MVS
Proprietary and Confidential
MV
S
MVP
Adding to Lean Startup thinking…
16
Minimum Viable Product (MVP)
+ Minimum Viable Segment (MVS)
Repeat?
@mjskok startupsecrets.comTurning Products Into Companies
Proprietary and Confidential
MV
S
MV
P
Adding to Lean Startup thinking…
17
Minimum Viable Product (MVP)
+ Minimum Viable Segment (MVS)
= Minimum Repeatable Product (MRP)
MR
P
Repeatable 
MR
P
= same NEEDS
@mjskok startupsecrets.comTurning Products Into Companies
Proprietary and Confidential
MV
S
MV
P
Adding to Lean Startup thinking…
18
Minimum Viable Product (MVP)
+ Minimum Viable Segment (MVS)
= Minimum Repeatable Product (MRP)
Smaller target to reference
lead, dominate
MR
P
Repeatable, Referenceable 
MR
P
= same NEEDS
@mjskok startupsecrets.comTurning Products Into Companies
Proprietary and Confidential
Minimum Viable Segment…
 Maintains MVProduct footprint
• Same functionality needed by all customers
 People reference according to the same NEEDS
• Customers can compare solutions
 Potential for leadership, domination
• At least initial Beachhead
Segment according to the same NEEDS
MV
S
MV
P
= same NEEDS
@mjskok startupsecrets.comTurning Products Into Companies 19
MR
P
MR
P
Proprietary and Confidential
vs. Office Worker
vs. White Collar
vs. Sales
vs. Office Equipment
vs. Medical Clinics
vs. Diagnostics
+ Blatant Critical need if possible:
Mobile Professionals
Field Workers
Services
Hospitals
Critical Care
Medical Equipment
Targeting, Segmentation - example
@mjskok startupsecrets.comTurning Products Into Companies 20
Proprietary and Confidential
Targeting, Segmentation – Need Attribution
@mjskok startupsecrets.comTurning Products Into Companies 21
To what do you attribute their need?
Brainstorm all the attributes you can think of…
Obvious examples
- Size / Stage
- Domain, sub domain, (eg Financial Services, Insurance,
- Sub sector (eg Property and Casualty)
What are your LESS obvious, and MORE specific examples?
- What kind of end customer they serve
- What problem that end customer is solving?
- etc
Proprietary and Confidential
No longer just Product Market Fit
 It’s about Product Go To Market Fit
• Narrow your target
• Segment it by need
• Focus your product
 Vital for
• Positioning, Messaging, Communication
• Packaging and Pricing
• Channels & Distribution, Partner Alignment, Support etc
 Enables
• Reference selling, network effects, virality
• Overall Business alignment
@mjskok startupsecrets.comTurning Products Into Companies 22
Proprietary and Confidential
NUMBER ONE Startup Secret?
#1
@mjskok startupsecrets.comTurning Products Into Companies 23
FOCUS
Proprietary and Confidential
 Narrow as possible to start!
• Think small targets to dominate
 Which would you rather…
• Expand on success?
• Contract on failure?
 Balance Vision vs. Execution
• See post on startupsecrets.com
NUMBER ONE Startup Secret =
FOCUS!
Don’t be afraid to pick one thing and focus on it!
#1
@mjskok startupsecrets.comTurning Products Into Companies 24
Proprietary and Confidential
• Simple
• Low to no initial cost
• Installs easily
• Proves value quickly
• Plays well with others
• Easy to use
• ROI is obvious
• Your customers can’t live without it – it’s stickY
Friction Free, SLIPPERY products
@mjskok startupsecrets.comTurning Products Into Companies 25
Proprietary and Confidential
• Simple
• Low to no initial cost
• Installs easily
• Proves value quickly
• Plays well with others
• Easy to use
• ROI is obvious
• Your customers can’t live without it – it’s stickY
Friction Free, SLIPPERY products
@mjskok startupsecrets.comTurning Products Into Companies 26
Think of how this
improves the Gain/Pain
Ratio in our Value
Proposition Workshop
Gain
Pain
Proprietary and Confidential
Simple
Complexity
Simplicity
FIRST PRINCIPLES
Advantage
Disadvantage
@mjskok startupsecrets.comTurning Products Into Companies 27
Proprietary and Confidential
Simple
Advantage = Innovation * Simplicity
Disadvantage = Innovation * Complexity
@mjskok startupsecrets.comTurning Products Into Companies 28
Proprietary and Confidential
Even Simpler = Less is More!
Microsoft APPLE
@mjskok startupsecrets.comTurning Products Into Companies 29
Proprietary and Confidential
Example
Knowledge Management vs. Note Taking
@mjskok startupsecrets.comTurning Products Into Companies 30
Proprietary and Confidential
Simple
 Simplify to your C.O.R.E. value [link on startupsecrets.com]
• Create a whole product with partnerships
• And or Open Source etc
Capabilities
Of
Really
Exceptional
Value
Focus on it!
C.O.R.E.
Value
@mjskok startupsecrets.comTurning Products Into Companies 31
Proprietary and Confidential
Low to no initial cost
 Potential for
• Frictionless trials
• Lower initial CARC
• Self identifying Freemium prospects

http://www.wired.com/techbiz/it/magazine/16-03/ff_free
@mjskok startupsecrets.comTurning Products Into Companies
“Freeconomics"
32
Proprietary and Confidential
Low to no initial cost
 Potential for
• Frictionless trials
• Lower initial CARC
• Self identifying Freemium prospects
 Free-fall, free-fail ?
• It’s worth what people are paying for it = nothing
= no proof of value
• And perceived value can also be zero
• Ultimately have to upsell
@mjskok startupsecrets.comTurning Products Into Companies 33
Proprietary and Confidential
Low to no initial cost
• Value
• Network
• Monetization
@mjskok startupsecrets.comTurning Products Into Companies 34
Proprietary and Confidential
Installs easily, integrates well
 Slippery not Trip-up-ery!
@mjskok startupsecrets.comTurning Products Into Companies 35
Proprietary and Confidential
Installs easily, integrates well
 Reducing the Pain for customers to try, adopt, deploy
Inertia,
RISK
Gain
Pain
>10
@mjskok startupsecrets.comTurning Products Into Companies 36
Proprietary and Confidential
• Integrates well
– “Embrace & Extend”
Open & Extensible…
• Assume
– Change = risky, painful, time consuming & costly
Incumbents far and wide
Applications
Operating environments
Business processes
Human skills
Installs easily, integrates well
@mjskok startupsecrets.comTurning Products Into Companies 38
Proprietary and Confidential
Products that integrate, play well with others…
Encourage others to
play with them…
®
LINK Technology
Partners
@mjskok startupsecrets.comTurning Products Into Companies
LINK program
39
Proprietary and Confidential
Proves value quickly
 Consumer
• Instant gratification
 Enterprise,
• Rapid payback
 ≤3 months is great
 >12 months is bad
@mjskok startupsecrets.comTurning Products Into Companies 40
Proprietary and Confidential
 For example
• If your product is about improving a process…
 Provide proof as part of the product!
• Baseline current before the product usage
• Provide key metrics, visibility into progress
• Integrate analytics, dashboards
• Clearly surface reports that prove the value
Self proving value
@mjskok startupsecrets.comTurning Products Into Companies 41
Proprietary and Confidential
Package and progressively disclose value
VS.
@mjskok startupsecrets.comTurning Products Into Companies 42
Proprietary and Confidential
Package and progressively disclose value
Examples?
@mjskok startupsecrets.comTurning Products Into Companies 43
Proprietary and Confidential
Package and progressively disclose value
Examples?
@mjskok startupsecrets.comTurning Products Into Companies 44
Proprietary and Confidential
Easy to use and apply
 “OOBE!”
• Out Of the Box Experience
• Delight & entrance users
@mjskok startupsecrets.comTurning Products Into Companies 46
Proprietary and Confidential
 Example Salesforce vs SIEBEL
VS.
Easy to use and apply
@mjskok startupsecrets.comTurning Products Into Companies 47
Proprietary and Confidential
ROI is Obvious
 Quantifiable
• Increase revenue
• Reduce time, resources, costs
 Or
• Reduce risk
• Drives competitive advantage
(ties to fast payback)
@mjskok startupsecrets.comTurning Products Into Companies 48
Proprietary and Confidential
ROI is Obvious
(Supported by Self Proving Value)
 Example: Unidesk
@mjskok startupsecrets.comTurning Products Into Companies 49
Proprietary and Confidential
StickY
 Your customers can’t live
without it!
• Avoids Churn
 Leaves customers
wanting more !
• Encourages Upsell
@mjskok startupsecrets.comTurning Products Into Companies 50
Proprietary and Confidential
• Simple
• Low to no initial cost
• Installs easily
• Proves value quickly
• Plays well with others
• Easy to use
• ROI is obvious
• Your customers can’t live without it – it’s stickY
Friction Free, SLIPPERY products
@mjskok startupsecrets.comTurning Products Into Companies 51
Think of how this
improves the Gain/Pain
Ratio in our Value
Proposition Workshop
Gain
Pain
Proprietary and Confidential
Thank you!
@underscorevc #startupsecrets

More Related Content

What's hot

Startup Secrets - Vision, Mission, Culture
Startup Secrets - Vision, Mission, CultureStartup Secrets - Vision, Mission, Culture
Startup Secrets - Vision, Mission, CultureMichael Skok
 
Funding Strategies to Go the Distance
Funding Strategies to Go the DistanceFunding Strategies to Go the Distance
Funding Strategies to Go the DistanceMichael Skok
 
Game Changing Business Models - Case - Dries Drupal, Open Source, Co-Creation
Game Changing Business Models - Case - Dries Drupal, Open Source, Co-CreationGame Changing Business Models - Case - Dries Drupal, Open Source, Co-Creation
Game Changing Business Models - Case - Dries Drupal, Open Source, Co-CreationMichael Skok
 
Startup Secrets - Building a Compelling Value Proposition
Startup Secrets - Building a Compelling Value PropositionStartup Secrets - Building a Compelling Value Proposition
Startup Secrets - Building a Compelling Value PropositionMichael Skok
 
Game Changing Business Models - V2! - with case examples - Competitive Advant...
Game Changing Business Models - V2! - with case examples - Competitive Advant...Game Changing Business Models - V2! - with case examples - Competitive Advant...
Game Changing Business Models - V2! - with case examples - Competitive Advant...Michael Skok
 
Startup Secrets: Building a Compelling Value Proposition
Startup Secrets: Building a Compelling Value PropositionStartup Secrets: Building a Compelling Value Proposition
Startup Secrets: Building a Compelling Value PropositionMichael Skok
 
Turning Products into Companies
Turning Products into CompaniesTurning Products into Companies
Turning Products into CompaniesMichael Skok
 
Culture, Vision / Mission
Culture, Vision / MissionCulture, Vision / Mission
Culture, Vision / MissionMichael Skok
 
Startup Secrets - Game Changing Business Models
Startup Secrets - Game Changing Business ModelsStartup Secrets - Game Changing Business Models
Startup Secrets - Game Changing Business ModelsMichael Skok
 
Startup Secrets - Have you got what it takes?
Startup Secrets - Have you got what it takes?Startup Secrets - Have you got what it takes?
Startup Secrets - Have you got what it takes?Michael Skok
 
Startup Roadmap Workshop
Startup Roadmap WorkshopStartup Roadmap Workshop
Startup Roadmap WorkshopMichael Skok
 
Building a Compelling Value Proposition - Competitive Advantage for Startups
Building a Compelling Value Proposition - Competitive Advantage for StartupsBuilding a Compelling Value Proposition - Competitive Advantage for Startups
Building a Compelling Value Proposition - Competitive Advantage for StartupsMichael Skok
 
What's Your Roadmap to Success?
What's Your Roadmap to Success?What's Your Roadmap to Success?
What's Your Roadmap to Success?Startup Secrets
 
Driving to Market - V2! - How to "Drive" Competitive Advantage in your Go To ...
Driving to Market - V2! - How to "Drive" Competitive Advantage in your Go To ...Driving to Market - V2! - How to "Drive" Competitive Advantage in your Go To ...
Driving to Market - V2! - How to "Drive" Competitive Advantage in your Go To ...Michael Skok
 
Game-Changing Business Models
Game-Changing Business ModelsGame-Changing Business Models
Game-Changing Business ModelsStartup Secrets
 
Startup Secrets - Funding Strategies to Go the Distance
Startup Secrets - Funding Strategies to Go the DistanceStartup Secrets - Funding Strategies to Go the Distance
Startup Secrets - Funding Strategies to Go the DistanceMichael Skok
 
Go To Market – Case – Demandware Rebranding
Go To Market – Case – Demandware RebrandingGo To Market – Case – Demandware Rebranding
Go To Market – Case – Demandware RebrandingMichael Skok
 
Getting behind the Perfect Pitch - Harvard Innovation Lab Workshop
Getting behind the Perfect Pitch - Harvard Innovation Lab WorkshopGetting behind the Perfect Pitch - Harvard Innovation Lab Workshop
Getting behind the Perfect Pitch - Harvard Innovation Lab WorkshopMichael Skok
 
Startup Secrets: Wrap Up & Geoffrey Moore - An Insider’s Guide
Startup Secrets: Wrap Up & Geoffrey Moore - An Insider’s GuideStartup Secrets: Wrap Up & Geoffrey Moore - An Insider’s Guide
Startup Secrets: Wrap Up & Geoffrey Moore - An Insider’s GuideMichael Skok
 
Building a Compelling Value Proposition
Building a Compelling Value PropositionBuilding a Compelling Value Proposition
Building a Compelling Value PropositionStartup Secrets
 

What's hot (20)

Startup Secrets - Vision, Mission, Culture
Startup Secrets - Vision, Mission, CultureStartup Secrets - Vision, Mission, Culture
Startup Secrets - Vision, Mission, Culture
 
Funding Strategies to Go the Distance
Funding Strategies to Go the DistanceFunding Strategies to Go the Distance
Funding Strategies to Go the Distance
 
Game Changing Business Models - Case - Dries Drupal, Open Source, Co-Creation
Game Changing Business Models - Case - Dries Drupal, Open Source, Co-CreationGame Changing Business Models - Case - Dries Drupal, Open Source, Co-Creation
Game Changing Business Models - Case - Dries Drupal, Open Source, Co-Creation
 
Startup Secrets - Building a Compelling Value Proposition
Startup Secrets - Building a Compelling Value PropositionStartup Secrets - Building a Compelling Value Proposition
Startup Secrets - Building a Compelling Value Proposition
 
Game Changing Business Models - V2! - with case examples - Competitive Advant...
Game Changing Business Models - V2! - with case examples - Competitive Advant...Game Changing Business Models - V2! - with case examples - Competitive Advant...
Game Changing Business Models - V2! - with case examples - Competitive Advant...
 
Startup Secrets: Building a Compelling Value Proposition
Startup Secrets: Building a Compelling Value PropositionStartup Secrets: Building a Compelling Value Proposition
Startup Secrets: Building a Compelling Value Proposition
 
Turning Products into Companies
Turning Products into CompaniesTurning Products into Companies
Turning Products into Companies
 
Culture, Vision / Mission
Culture, Vision / MissionCulture, Vision / Mission
Culture, Vision / Mission
 
Startup Secrets - Game Changing Business Models
Startup Secrets - Game Changing Business ModelsStartup Secrets - Game Changing Business Models
Startup Secrets - Game Changing Business Models
 
Startup Secrets - Have you got what it takes?
Startup Secrets - Have you got what it takes?Startup Secrets - Have you got what it takes?
Startup Secrets - Have you got what it takes?
 
Startup Roadmap Workshop
Startup Roadmap WorkshopStartup Roadmap Workshop
Startup Roadmap Workshop
 
Building a Compelling Value Proposition - Competitive Advantage for Startups
Building a Compelling Value Proposition - Competitive Advantage for StartupsBuilding a Compelling Value Proposition - Competitive Advantage for Startups
Building a Compelling Value Proposition - Competitive Advantage for Startups
 
What's Your Roadmap to Success?
What's Your Roadmap to Success?What's Your Roadmap to Success?
What's Your Roadmap to Success?
 
Driving to Market - V2! - How to "Drive" Competitive Advantage in your Go To ...
Driving to Market - V2! - How to "Drive" Competitive Advantage in your Go To ...Driving to Market - V2! - How to "Drive" Competitive Advantage in your Go To ...
Driving to Market - V2! - How to "Drive" Competitive Advantage in your Go To ...
 
Game-Changing Business Models
Game-Changing Business ModelsGame-Changing Business Models
Game-Changing Business Models
 
Startup Secrets - Funding Strategies to Go the Distance
Startup Secrets - Funding Strategies to Go the DistanceStartup Secrets - Funding Strategies to Go the Distance
Startup Secrets - Funding Strategies to Go the Distance
 
Go To Market – Case – Demandware Rebranding
Go To Market – Case – Demandware RebrandingGo To Market – Case – Demandware Rebranding
Go To Market – Case – Demandware Rebranding
 
Getting behind the Perfect Pitch - Harvard Innovation Lab Workshop
Getting behind the Perfect Pitch - Harvard Innovation Lab WorkshopGetting behind the Perfect Pitch - Harvard Innovation Lab Workshop
Getting behind the Perfect Pitch - Harvard Innovation Lab Workshop
 
Startup Secrets: Wrap Up & Geoffrey Moore - An Insider’s Guide
Startup Secrets: Wrap Up & Geoffrey Moore - An Insider’s GuideStartup Secrets: Wrap Up & Geoffrey Moore - An Insider’s Guide
Startup Secrets: Wrap Up & Geoffrey Moore - An Insider’s Guide
 
Building a Compelling Value Proposition
Building a Compelling Value PropositionBuilding a Compelling Value Proposition
Building a Compelling Value Proposition
 

Similar to Turning Products Into Companies

Turning Products into Companies
Turning Products into CompaniesTurning Products into Companies
Turning Products into CompaniesStartup Secrets
 
The Importance of Product Validation by RetailMeNot Dir. of PM
The Importance of Product Validation by RetailMeNot Dir. of PMThe Importance of Product Validation by RetailMeNot Dir. of PM
The Importance of Product Validation by RetailMeNot Dir. of PMProduct School
 
2016 Innovation Roundtable Keynote by Michael Skok
2016 Innovation Roundtable Keynote by Michael Skok2016 Innovation Roundtable Keynote by Michael Skok
2016 Innovation Roundtable Keynote by Michael SkokMichael Skok
 
Build Innovation into Your Admin Routine
Build Innovation into Your Admin RoutineBuild Innovation into Your Admin Routine
Build Innovation into Your Admin RoutineSalesforce Admins
 
Think like a tech startup webinar
Think like a tech startup   webinarThink like a tech startup   webinar
Think like a tech startup webinarTallwave
 
Startup Secrets - an insiders guide to unfair competitive advantage. Michael ...
Startup Secrets - an insiders guide to unfair competitive advantage. Michael ...Startup Secrets - an insiders guide to unfair competitive advantage. Michael ...
Startup Secrets - an insiders guide to unfair competitive advantage. Michael ...Business of Software Conference
 
Turning Products Into Companies
Turning Products Into CompaniesTurning Products Into Companies
Turning Products Into CompaniesStartup Secrets
 
What is Customer Validation
What is Customer ValidationWhat is Customer Validation
What is Customer ValidationCentercode
 
Game-Changing Business Models
Game-Changing Business ModelsGame-Changing Business Models
Game-Changing Business ModelsStartup Secrets
 
E2 Virtual Conf 2010 slides "Accelerating Business Performance with Enterpris...
E2 Virtual Conf 2010 slides "Accelerating Business Performance with Enterpris...E2 Virtual Conf 2010 slides "Accelerating Business Performance with Enterpris...
E2 Virtual Conf 2010 slides "Accelerating Business Performance with Enterpris...Sovos Group
 
The Role and Challenges of a PM in a New Industry by Elliptic PM
The Role and Challenges of a PM in a New Industry by Elliptic PMThe Role and Challenges of a PM in a New Industry by Elliptic PM
The Role and Challenges of a PM in a New Industry by Elliptic PMProduct School
 
Your Roadmap, Your Product Story & Datadriven Product Management
Your Roadmap, Your Product Story & Datadriven Product ManagementYour Roadmap, Your Product Story & Datadriven Product Management
Your Roadmap, Your Product Story & Datadriven Product ManagementProduct School
 
Building Enterprise Products in 2021 by Google Product Leader
Building Enterprise Products in 2021 by Google Product LeaderBuilding Enterprise Products in 2021 by Google Product Leader
Building Enterprise Products in 2021 by Google Product LeaderProduct School
 
Quant + Qual + Iteration for Great Products
Quant + Qual + Iteration for Great ProductsQuant + Qual + Iteration for Great Products
Quant + Qual + Iteration for Great ProductsBen Carey
 
Master Modern Work by Workfront VP of Product Management
Master Modern Work by Workfront VP of Product ManagementMaster Modern Work by Workfront VP of Product Management
Master Modern Work by Workfront VP of Product ManagementProduct School
 
Product Management introduction
Product Management introductionProduct Management introduction
Product Management introductionMalthiSatish
 
Building and Scaling a Product Team
 Building and Scaling a Product Team Building and Scaling a Product Team
Building and Scaling a Product TeamRich Mironov
 
The Problem with Product Market Fit (and What to Use Instead)
The Problem with Product Market Fit (and What to Use Instead)The Problem with Product Market Fit (and What to Use Instead)
The Problem with Product Market Fit (and What to Use Instead)Aggregage
 
Startup vs Corporate Products by Oracle's Director of Product
Startup vs Corporate Products by Oracle's Director of ProductStartup vs Corporate Products by Oracle's Director of Product
Startup vs Corporate Products by Oracle's Director of ProductProduct School
 
Inclusive innovation - Patrick Dalle, Minds & More
Inclusive innovation - Patrick Dalle, Minds & MoreInclusive innovation - Patrick Dalle, Minds & More
Inclusive innovation - Patrick Dalle, Minds & MorePatrick Dalle
 

Similar to Turning Products Into Companies (20)

Turning Products into Companies
Turning Products into CompaniesTurning Products into Companies
Turning Products into Companies
 
The Importance of Product Validation by RetailMeNot Dir. of PM
The Importance of Product Validation by RetailMeNot Dir. of PMThe Importance of Product Validation by RetailMeNot Dir. of PM
The Importance of Product Validation by RetailMeNot Dir. of PM
 
2016 Innovation Roundtable Keynote by Michael Skok
2016 Innovation Roundtable Keynote by Michael Skok2016 Innovation Roundtable Keynote by Michael Skok
2016 Innovation Roundtable Keynote by Michael Skok
 
Build Innovation into Your Admin Routine
Build Innovation into Your Admin RoutineBuild Innovation into Your Admin Routine
Build Innovation into Your Admin Routine
 
Think like a tech startup webinar
Think like a tech startup   webinarThink like a tech startup   webinar
Think like a tech startup webinar
 
Startup Secrets - an insiders guide to unfair competitive advantage. Michael ...
Startup Secrets - an insiders guide to unfair competitive advantage. Michael ...Startup Secrets - an insiders guide to unfair competitive advantage. Michael ...
Startup Secrets - an insiders guide to unfair competitive advantage. Michael ...
 
Turning Products Into Companies
Turning Products Into CompaniesTurning Products Into Companies
Turning Products Into Companies
 
What is Customer Validation
What is Customer ValidationWhat is Customer Validation
What is Customer Validation
 
Game-Changing Business Models
Game-Changing Business ModelsGame-Changing Business Models
Game-Changing Business Models
 
E2 Virtual Conf 2010 slides "Accelerating Business Performance with Enterpris...
E2 Virtual Conf 2010 slides "Accelerating Business Performance with Enterpris...E2 Virtual Conf 2010 slides "Accelerating Business Performance with Enterpris...
E2 Virtual Conf 2010 slides "Accelerating Business Performance with Enterpris...
 
The Role and Challenges of a PM in a New Industry by Elliptic PM
The Role and Challenges of a PM in a New Industry by Elliptic PMThe Role and Challenges of a PM in a New Industry by Elliptic PM
The Role and Challenges of a PM in a New Industry by Elliptic PM
 
Your Roadmap, Your Product Story & Datadriven Product Management
Your Roadmap, Your Product Story & Datadriven Product ManagementYour Roadmap, Your Product Story & Datadriven Product Management
Your Roadmap, Your Product Story & Datadriven Product Management
 
Building Enterprise Products in 2021 by Google Product Leader
Building Enterprise Products in 2021 by Google Product LeaderBuilding Enterprise Products in 2021 by Google Product Leader
Building Enterprise Products in 2021 by Google Product Leader
 
Quant + Qual + Iteration for Great Products
Quant + Qual + Iteration for Great ProductsQuant + Qual + Iteration for Great Products
Quant + Qual + Iteration for Great Products
 
Master Modern Work by Workfront VP of Product Management
Master Modern Work by Workfront VP of Product ManagementMaster Modern Work by Workfront VP of Product Management
Master Modern Work by Workfront VP of Product Management
 
Product Management introduction
Product Management introductionProduct Management introduction
Product Management introduction
 
Building and Scaling a Product Team
 Building and Scaling a Product Team Building and Scaling a Product Team
Building and Scaling a Product Team
 
The Problem with Product Market Fit (and What to Use Instead)
The Problem with Product Market Fit (and What to Use Instead)The Problem with Product Market Fit (and What to Use Instead)
The Problem with Product Market Fit (and What to Use Instead)
 
Startup vs Corporate Products by Oracle's Director of Product
Startup vs Corporate Products by Oracle's Director of ProductStartup vs Corporate Products by Oracle's Director of Product
Startup vs Corporate Products by Oracle's Director of Product
 
Inclusive innovation - Patrick Dalle, Minds & More
Inclusive innovation - Patrick Dalle, Minds & MoreInclusive innovation - Patrick Dalle, Minds & More
Inclusive innovation - Patrick Dalle, Minds & More
 

More from Michael Skok

Startup Secrets - Getting Behind the Perfect Investor Pitch
Startup Secrets - Getting Behind the Perfect Investor PitchStartup Secrets - Getting Behind the Perfect Investor Pitch
Startup Secrets - Getting Behind the Perfect Investor PitchMichael Skok
 
Startup Secrets - Mastering Mutual Mentorship
Startup Secrets - Mastering Mutual MentorshipStartup Secrets - Mastering Mutual Mentorship
Startup Secrets - Mastering Mutual MentorshipMichael Skok
 
Funding Strategies to go the Distance – Case – Endeca: By Steve Papa, founder...
Funding Strategies to go the Distance – Case – Endeca: By Steve Papa, founder...Funding Strategies to go the Distance – Case – Endeca: By Steve Papa, founder...
Funding Strategies to go the Distance – Case – Endeca: By Steve Papa, founder...Michael Skok
 
Re-evaluating growth...
Re-evaluating growth...Re-evaluating growth...
Re-evaluating growth...Michael Skok
 
3 Skills to Master the gift of Mutual Mentorship
3 Skills to Master the gift of Mutual Mentorship3 Skills to Master the gift of Mutual Mentorship
3 Skills to Master the gift of Mutual MentorshipMichael Skok
 
2014 Future of Cloud Computing - 4th Annual Survey Results
2014 Future of Cloud Computing - 4th Annual Survey Results2014 Future of Cloud Computing - 4th Annual Survey Results
2014 Future of Cloud Computing - 4th Annual Survey ResultsMichael Skok
 
2014 Future of Open Source - 8th Annual Survey results
2014 Future of Open Source - 8th Annual Survey results2014 Future of Open Source - 8th Annual Survey results
2014 Future of Open Source - 8th Annual Survey resultsMichael Skok
 
Andy Jassy Illuminates Amazon Web Services
Andy Jassy Illuminates Amazon Web ServicesAndy Jassy Illuminates Amazon Web Services
Andy Jassy Illuminates Amazon Web ServicesMichael Skok
 
Company Formation: Hiring
Company Formation: HiringCompany Formation: Hiring
Company Formation: HiringMichael Skok
 
Building a compelling value proposition
Building a compelling value propositionBuilding a compelling value proposition
Building a compelling value propositionMichael Skok
 
Value Proposition – Case – Diagnostics for All
Value Proposition – Case – Diagnostics for AllValue Proposition – Case – Diagnostics for All
Value Proposition – Case – Diagnostics for AllMichael Skok
 
Value Proposition – Case – Disqus
Value Proposition – Case – DisqusValue Proposition – Case – Disqus
Value Proposition – Case – DisqusMichael Skok
 
Startup Secrets: Raising Funding - Case – Givology
Startup Secrets: Raising Funding - Case – GivologyStartup Secrets: Raising Funding - Case – Givology
Startup Secrets: Raising Funding - Case – GivologyMichael Skok
 

More from Michael Skok (14)

Startup Secrets - Getting Behind the Perfect Investor Pitch
Startup Secrets - Getting Behind the Perfect Investor PitchStartup Secrets - Getting Behind the Perfect Investor Pitch
Startup Secrets - Getting Behind the Perfect Investor Pitch
 
Startup Secrets - Mastering Mutual Mentorship
Startup Secrets - Mastering Mutual MentorshipStartup Secrets - Mastering Mutual Mentorship
Startup Secrets - Mastering Mutual Mentorship
 
Funding Strategies to go the Distance – Case – Endeca: By Steve Papa, founder...
Funding Strategies to go the Distance – Case – Endeca: By Steve Papa, founder...Funding Strategies to go the Distance – Case – Endeca: By Steve Papa, founder...
Funding Strategies to go the Distance – Case – Endeca: By Steve Papa, founder...
 
Re-evaluating growth...
Re-evaluating growth...Re-evaluating growth...
Re-evaluating growth...
 
3 Skills to Master the gift of Mutual Mentorship
3 Skills to Master the gift of Mutual Mentorship3 Skills to Master the gift of Mutual Mentorship
3 Skills to Master the gift of Mutual Mentorship
 
2014 Future of Cloud Computing - 4th Annual Survey Results
2014 Future of Cloud Computing - 4th Annual Survey Results2014 Future of Cloud Computing - 4th Annual Survey Results
2014 Future of Cloud Computing - 4th Annual Survey Results
 
2014 Future of Open Source - 8th Annual Survey results
2014 Future of Open Source - 8th Annual Survey results2014 Future of Open Source - 8th Annual Survey results
2014 Future of Open Source - 8th Annual Survey results
 
Andy Jassy Illuminates Amazon Web Services
Andy Jassy Illuminates Amazon Web ServicesAndy Jassy Illuminates Amazon Web Services
Andy Jassy Illuminates Amazon Web Services
 
Company Formation: Hiring
Company Formation: HiringCompany Formation: Hiring
Company Formation: Hiring
 
Building a compelling value proposition
Building a compelling value propositionBuilding a compelling value proposition
Building a compelling value proposition
 
Value Proposition – Case – Diagnostics for All
Value Proposition – Case – Diagnostics for AllValue Proposition – Case – Diagnostics for All
Value Proposition – Case – Diagnostics for All
 
Value Proposition – Case – Disqus
Value Proposition – Case – DisqusValue Proposition – Case – Disqus
Value Proposition – Case – Disqus
 
How I Hire
How I HireHow I Hire
How I Hire
 
Startup Secrets: Raising Funding - Case – Givology
Startup Secrets: Raising Funding - Case – GivologyStartup Secrets: Raising Funding - Case – Givology
Startup Secrets: Raising Funding - Case – Givology
 

Recently uploaded

Building Your Personal Brand on LinkedIn - Expert Planet- 2024
 Building Your Personal Brand on LinkedIn - Expert Planet-  2024 Building Your Personal Brand on LinkedIn - Expert Planet-  2024
Building Your Personal Brand on LinkedIn - Expert Planet- 2024Stephan Koning
 
Borderless Access - Global B2B Panel book-unlock 2024
Borderless Access - Global B2B Panel book-unlock 2024Borderless Access - Global B2B Panel book-unlock 2024
Borderless Access - Global B2B Panel book-unlock 2024Borderless Access
 
Slicing Work on Business Agility Meetup Berlin
Slicing Work on Business Agility Meetup BerlinSlicing Work on Business Agility Meetup Berlin
Slicing Work on Business Agility Meetup BerlinAnton Skornyakov
 
NewBase 25 March 2024 Energy News issue - 1710 by Khaled Al Awadi_compress...
NewBase  25 March  2024  Energy News issue - 1710 by Khaled Al Awadi_compress...NewBase  25 March  2024  Energy News issue - 1710 by Khaled Al Awadi_compress...
NewBase 25 March 2024 Energy News issue - 1710 by Khaled Al Awadi_compress...Khaled Al Awadi
 
IIBA® Melbourne - Navigating Business Analysis - Excellence for Career Growth...
IIBA® Melbourne - Navigating Business Analysis - Excellence for Career Growth...IIBA® Melbourne - Navigating Business Analysis - Excellence for Career Growth...
IIBA® Melbourne - Navigating Business Analysis - Excellence for Career Growth...AustraliaChapterIIBA
 
Talent Management research intelligence_13 paradigm shifts_20 March 2024.pdf
Talent Management research intelligence_13 paradigm shifts_20 March 2024.pdfTalent Management research intelligence_13 paradigm shifts_20 March 2024.pdf
Talent Management research intelligence_13 paradigm shifts_20 March 2024.pdfCharles Cotter, PhD
 
Entrepreneurship and individuals workshop
Entrepreneurship and individuals workshopEntrepreneurship and individuals workshop
Entrepreneurship and individuals workshopP&CO
 
The Vietnam Believer Newsletter_MARCH 25, 2024_EN_Vol. 003
The Vietnam Believer Newsletter_MARCH 25, 2024_EN_Vol. 003The Vietnam Believer Newsletter_MARCH 25, 2024_EN_Vol. 003
The Vietnam Believer Newsletter_MARCH 25, 2024_EN_Vol. 003believeminhh
 
Al Taj Al Malaki Company Profile -------
Al Taj Al Malaki Company Profile -------Al Taj Al Malaki Company Profile -------
Al Taj Al Malaki Company Profile -------ThanzirNazer
 
UNLEASHING THE POWER OF PROGRAMMATIC ADVERTISING
UNLEASHING THE POWER OF PROGRAMMATIC ADVERTISINGUNLEASHING THE POWER OF PROGRAMMATIC ADVERTISING
UNLEASHING THE POWER OF PROGRAMMATIC ADVERTISINGlokeshwarmaha
 
Human Resource Management Chapter 9: Performance Management and Appraisal
Human Resource Management Chapter 9: Performance Management and AppraisalHuman Resource Management Chapter 9: Performance Management and Appraisal
Human Resource Management Chapter 9: Performance Management and Appraisalgomezdominic3
 
Upgrade Your Banking Experience with Advanced Core Banking Applications
Upgrade Your Banking Experience with Advanced Core Banking ApplicationsUpgrade Your Banking Experience with Advanced Core Banking Applications
Upgrade Your Banking Experience with Advanced Core Banking ApplicationsIntellect Design Arena Ltd
 
MC Heights construction company in Jhang
MC Heights construction company in JhangMC Heights construction company in Jhang
MC Heights construction company in Jhangmcgroupjeya
 
AMAZON SELLER VIRTUAL ASSISTANT PRODUCT RESEARCH .pdf
AMAZON SELLER VIRTUAL ASSISTANT PRODUCT RESEARCH .pdfAMAZON SELLER VIRTUAL ASSISTANT PRODUCT RESEARCH .pdf
AMAZON SELLER VIRTUAL ASSISTANT PRODUCT RESEARCH .pdfJohnCarloValencia4
 
The End of Business as Usual: Rewire the Way You Work to Succeed in the Consu...
The End of Business as Usual: Rewire the Way You Work to Succeed in the Consu...The End of Business as Usual: Rewire the Way You Work to Succeed in the Consu...
The End of Business as Usual: Rewire the Way You Work to Succeed in the Consu...Brian Solis
 
Borderless Access - Global B2B Panel book-unlock 2024
Borderless Access - Global B2B Panel book-unlock 2024Borderless Access - Global B2B Panel book-unlock 2024
Borderless Access - Global B2B Panel book-unlock 2024Borderless Access
 
Project Brief & Information Architecture Report
Project Brief & Information Architecture ReportProject Brief & Information Architecture Report
Project Brief & Information Architecture Reportamberjiles31
 

Recently uploaded (20)

Building Your Personal Brand on LinkedIn - Expert Planet- 2024
 Building Your Personal Brand on LinkedIn - Expert Planet-  2024 Building Your Personal Brand on LinkedIn - Expert Planet-  2024
Building Your Personal Brand on LinkedIn - Expert Planet- 2024
 
Borderless Access - Global B2B Panel book-unlock 2024
Borderless Access - Global B2B Panel book-unlock 2024Borderless Access - Global B2B Panel book-unlock 2024
Borderless Access - Global B2B Panel book-unlock 2024
 
Slicing Work on Business Agility Meetup Berlin
Slicing Work on Business Agility Meetup BerlinSlicing Work on Business Agility Meetup Berlin
Slicing Work on Business Agility Meetup Berlin
 
NewBase 25 March 2024 Energy News issue - 1710 by Khaled Al Awadi_compress...
NewBase  25 March  2024  Energy News issue - 1710 by Khaled Al Awadi_compress...NewBase  25 March  2024  Energy News issue - 1710 by Khaled Al Awadi_compress...
NewBase 25 March 2024 Energy News issue - 1710 by Khaled Al Awadi_compress...
 
Deira Dubai Call Girls +971552825767 Call Girls In Downtown Dubai
Deira Dubai Call Girls +971552825767 Call Girls In Downtown DubaiDeira Dubai Call Girls +971552825767 Call Girls In Downtown Dubai
Deira Dubai Call Girls +971552825767 Call Girls In Downtown Dubai
 
IIBA® Melbourne - Navigating Business Analysis - Excellence for Career Growth...
IIBA® Melbourne - Navigating Business Analysis - Excellence for Career Growth...IIBA® Melbourne - Navigating Business Analysis - Excellence for Career Growth...
IIBA® Melbourne - Navigating Business Analysis - Excellence for Career Growth...
 
Talent Management research intelligence_13 paradigm shifts_20 March 2024.pdf
Talent Management research intelligence_13 paradigm shifts_20 March 2024.pdfTalent Management research intelligence_13 paradigm shifts_20 March 2024.pdf
Talent Management research intelligence_13 paradigm shifts_20 March 2024.pdf
 
Entrepreneurship and individuals workshop
Entrepreneurship and individuals workshopEntrepreneurship and individuals workshop
Entrepreneurship and individuals workshop
 
The Vietnam Believer Newsletter_MARCH 25, 2024_EN_Vol. 003
The Vietnam Believer Newsletter_MARCH 25, 2024_EN_Vol. 003The Vietnam Believer Newsletter_MARCH 25, 2024_EN_Vol. 003
The Vietnam Believer Newsletter_MARCH 25, 2024_EN_Vol. 003
 
Al Taj Al Malaki Company Profile -------
Al Taj Al Malaki Company Profile -------Al Taj Al Malaki Company Profile -------
Al Taj Al Malaki Company Profile -------
 
WAM Corporate Presentation Mar 25 2024.pdf
WAM Corporate Presentation Mar 25 2024.pdfWAM Corporate Presentation Mar 25 2024.pdf
WAM Corporate Presentation Mar 25 2024.pdf
 
UNLEASHING THE POWER OF PROGRAMMATIC ADVERTISING
UNLEASHING THE POWER OF PROGRAMMATIC ADVERTISINGUNLEASHING THE POWER OF PROGRAMMATIC ADVERTISING
UNLEASHING THE POWER OF PROGRAMMATIC ADVERTISING
 
Human Resource Management Chapter 9: Performance Management and Appraisal
Human Resource Management Chapter 9: Performance Management and AppraisalHuman Resource Management Chapter 9: Performance Management and Appraisal
Human Resource Management Chapter 9: Performance Management and Appraisal
 
Upgrade Your Banking Experience with Advanced Core Banking Applications
Upgrade Your Banking Experience with Advanced Core Banking ApplicationsUpgrade Your Banking Experience with Advanced Core Banking Applications
Upgrade Your Banking Experience with Advanced Core Banking Applications
 
MC Heights construction company in Jhang
MC Heights construction company in JhangMC Heights construction company in Jhang
MC Heights construction company in Jhang
 
AMAZON SELLER VIRTUAL ASSISTANT PRODUCT RESEARCH .pdf
AMAZON SELLER VIRTUAL ASSISTANT PRODUCT RESEARCH .pdfAMAZON SELLER VIRTUAL ASSISTANT PRODUCT RESEARCH .pdf
AMAZON SELLER VIRTUAL ASSISTANT PRODUCT RESEARCH .pdf
 
The End of Business as Usual: Rewire the Way You Work to Succeed in the Consu...
The End of Business as Usual: Rewire the Way You Work to Succeed in the Consu...The End of Business as Usual: Rewire the Way You Work to Succeed in the Consu...
The End of Business as Usual: Rewire the Way You Work to Succeed in the Consu...
 
AL Satwa Dubai Call Girls +971552825767 Call Girls In AL Karama
AL Satwa Dubai Call Girls +971552825767  Call Girls In AL KaramaAL Satwa Dubai Call Girls +971552825767  Call Girls In AL Karama
AL Satwa Dubai Call Girls +971552825767 Call Girls In AL Karama
 
Borderless Access - Global B2B Panel book-unlock 2024
Borderless Access - Global B2B Panel book-unlock 2024Borderless Access - Global B2B Panel book-unlock 2024
Borderless Access - Global B2B Panel book-unlock 2024
 
Project Brief & Information Architecture Report
Project Brief & Information Architecture ReportProject Brief & Information Architecture Report
Project Brief & Information Architecture Report
 

Turning Products Into Companies

  • 2. Proprietary and Confidential START UP SECRETS An insider’s guide to unfair competitive advantage Hi Turning Products into Companies by Design & Architecture twitter: @mjskok startupsecrets.com Michael J Skok
  • 3. Proprietary and Confidential Agenda: Closing the Product Company GAP by Design & Architecture  Design • Product Go To Market Fit  PVP  MVP  MVS  MRP  Architecture • Business Model  SLIPPERY Products  Russian Doll Pricing and Packaging  Whole Product  Services @mjskok startupsecrets.comTurning Products Into Companies 9
  • 4. Proprietary and Confidential Design for Product Go To Market fit  MVP and introducing MVS, MRP @mjskok startupsecrets.comTurning Products Into Companies 10
  • 5. Proprietary and Confidential The Product Market Fit MarketProduct Fit @mjskok startupsecrets.comTurning Products Into Companies 11
  • 6. Proprietary and Confidential Adding to Lean Startup thinking… Minimum Viable Product (MVP) . @mjskok startupsecrets.comTurning Products Into Companies 12 MarketProduct Fit
  • 7. Proprietary and Confidential The Product Market Fit Question here? here? here? here? MV P here? Market @mjskok startupsecrets.comTurning Products Into Companies 13 Product
  • 8. Proprietary and Confidential The Product Market Fit Problem here? here? here? here? Fit ? Stretch ? MV P MVP ++ here? Market @mjskok startupsecrets.comTurning Products Into Companies 14 Product
  • 9. Proprietary and Confidential Market not here not here not here not here Fit MV P @mjskok startupsecrets.comTurning Products Into Companies 15 Product The Product Market Fit Solution = MVS
  • 10. Proprietary and Confidential MV S MVP Adding to Lean Startup thinking… 16 Minimum Viable Product (MVP) + Minimum Viable Segment (MVS) Repeat? @mjskok startupsecrets.comTurning Products Into Companies
  • 11. Proprietary and Confidential MV S MV P Adding to Lean Startup thinking… 17 Minimum Viable Product (MVP) + Minimum Viable Segment (MVS) = Minimum Repeatable Product (MRP) MR P Repeatable  MR P = same NEEDS @mjskok startupsecrets.comTurning Products Into Companies
  • 12. Proprietary and Confidential MV S MV P Adding to Lean Startup thinking… 18 Minimum Viable Product (MVP) + Minimum Viable Segment (MVS) = Minimum Repeatable Product (MRP) Smaller target to reference lead, dominate MR P Repeatable, Referenceable  MR P = same NEEDS @mjskok startupsecrets.comTurning Products Into Companies
  • 13. Proprietary and Confidential Minimum Viable Segment…  Maintains MVProduct footprint • Same functionality needed by all customers  People reference according to the same NEEDS • Customers can compare solutions  Potential for leadership, domination • At least initial Beachhead Segment according to the same NEEDS MV S MV P = same NEEDS @mjskok startupsecrets.comTurning Products Into Companies 19 MR P MR P
  • 14. Proprietary and Confidential vs. Office Worker vs. White Collar vs. Sales vs. Office Equipment vs. Medical Clinics vs. Diagnostics + Blatant Critical need if possible: Mobile Professionals Field Workers Services Hospitals Critical Care Medical Equipment Targeting, Segmentation - example @mjskok startupsecrets.comTurning Products Into Companies 20
  • 15. Proprietary and Confidential Targeting, Segmentation – Need Attribution @mjskok startupsecrets.comTurning Products Into Companies 21 To what do you attribute their need? Brainstorm all the attributes you can think of… Obvious examples - Size / Stage - Domain, sub domain, (eg Financial Services, Insurance, - Sub sector (eg Property and Casualty) What are your LESS obvious, and MORE specific examples? - What kind of end customer they serve - What problem that end customer is solving? - etc
  • 16. Proprietary and Confidential No longer just Product Market Fit  It’s about Product Go To Market Fit • Narrow your target • Segment it by need • Focus your product  Vital for • Positioning, Messaging, Communication • Packaging and Pricing • Channels & Distribution, Partner Alignment, Support etc  Enables • Reference selling, network effects, virality • Overall Business alignment @mjskok startupsecrets.comTurning Products Into Companies 22
  • 17. Proprietary and Confidential NUMBER ONE Startup Secret? #1 @mjskok startupsecrets.comTurning Products Into Companies 23 FOCUS
  • 18. Proprietary and Confidential  Narrow as possible to start! • Think small targets to dominate  Which would you rather… • Expand on success? • Contract on failure?  Balance Vision vs. Execution • See post on startupsecrets.com NUMBER ONE Startup Secret = FOCUS! Don’t be afraid to pick one thing and focus on it! #1 @mjskok startupsecrets.comTurning Products Into Companies 24
  • 19. Proprietary and Confidential • Simple • Low to no initial cost • Installs easily • Proves value quickly • Plays well with others • Easy to use • ROI is obvious • Your customers can’t live without it – it’s stickY Friction Free, SLIPPERY products @mjskok startupsecrets.comTurning Products Into Companies 25
  • 20. Proprietary and Confidential • Simple • Low to no initial cost • Installs easily • Proves value quickly • Plays well with others • Easy to use • ROI is obvious • Your customers can’t live without it – it’s stickY Friction Free, SLIPPERY products @mjskok startupsecrets.comTurning Products Into Companies 26 Think of how this improves the Gain/Pain Ratio in our Value Proposition Workshop Gain Pain
  • 21. Proprietary and Confidential Simple Complexity Simplicity FIRST PRINCIPLES Advantage Disadvantage @mjskok startupsecrets.comTurning Products Into Companies 27
  • 22. Proprietary and Confidential Simple Advantage = Innovation * Simplicity Disadvantage = Innovation * Complexity @mjskok startupsecrets.comTurning Products Into Companies 28
  • 23. Proprietary and Confidential Even Simpler = Less is More! Microsoft APPLE @mjskok startupsecrets.comTurning Products Into Companies 29
  • 24. Proprietary and Confidential Example Knowledge Management vs. Note Taking @mjskok startupsecrets.comTurning Products Into Companies 30
  • 25. Proprietary and Confidential Simple  Simplify to your C.O.R.E. value [link on startupsecrets.com] • Create a whole product with partnerships • And or Open Source etc Capabilities Of Really Exceptional Value Focus on it! C.O.R.E. Value @mjskok startupsecrets.comTurning Products Into Companies 31
  • 26. Proprietary and Confidential Low to no initial cost  Potential for • Frictionless trials • Lower initial CARC • Self identifying Freemium prospects  http://www.wired.com/techbiz/it/magazine/16-03/ff_free @mjskok startupsecrets.comTurning Products Into Companies “Freeconomics" 32
  • 27. Proprietary and Confidential Low to no initial cost  Potential for • Frictionless trials • Lower initial CARC • Self identifying Freemium prospects  Free-fall, free-fail ? • It’s worth what people are paying for it = nothing = no proof of value • And perceived value can also be zero • Ultimately have to upsell @mjskok startupsecrets.comTurning Products Into Companies 33
  • 28. Proprietary and Confidential Low to no initial cost • Value • Network • Monetization @mjskok startupsecrets.comTurning Products Into Companies 34
  • 29. Proprietary and Confidential Installs easily, integrates well  Slippery not Trip-up-ery! @mjskok startupsecrets.comTurning Products Into Companies 35
  • 30. Proprietary and Confidential Installs easily, integrates well  Reducing the Pain for customers to try, adopt, deploy Inertia, RISK Gain Pain >10 @mjskok startupsecrets.comTurning Products Into Companies 36
  • 31. Proprietary and Confidential • Integrates well – “Embrace & Extend” Open & Extensible… • Assume – Change = risky, painful, time consuming & costly Incumbents far and wide Applications Operating environments Business processes Human skills Installs easily, integrates well @mjskok startupsecrets.comTurning Products Into Companies 38
  • 32. Proprietary and Confidential Products that integrate, play well with others… Encourage others to play with them… ® LINK Technology Partners @mjskok startupsecrets.comTurning Products Into Companies LINK program 39
  • 33. Proprietary and Confidential Proves value quickly  Consumer • Instant gratification  Enterprise, • Rapid payback  ≤3 months is great  >12 months is bad @mjskok startupsecrets.comTurning Products Into Companies 40
  • 34. Proprietary and Confidential  For example • If your product is about improving a process…  Provide proof as part of the product! • Baseline current before the product usage • Provide key metrics, visibility into progress • Integrate analytics, dashboards • Clearly surface reports that prove the value Self proving value @mjskok startupsecrets.comTurning Products Into Companies 41
  • 35. Proprietary and Confidential Package and progressively disclose value VS. @mjskok startupsecrets.comTurning Products Into Companies 42
  • 36. Proprietary and Confidential Package and progressively disclose value Examples? @mjskok startupsecrets.comTurning Products Into Companies 43
  • 37. Proprietary and Confidential Package and progressively disclose value Examples? @mjskok startupsecrets.comTurning Products Into Companies 44
  • 38. Proprietary and Confidential Easy to use and apply  “OOBE!” • Out Of the Box Experience • Delight & entrance users @mjskok startupsecrets.comTurning Products Into Companies 46
  • 39. Proprietary and Confidential  Example Salesforce vs SIEBEL VS. Easy to use and apply @mjskok startupsecrets.comTurning Products Into Companies 47
  • 40. Proprietary and Confidential ROI is Obvious  Quantifiable • Increase revenue • Reduce time, resources, costs  Or • Reduce risk • Drives competitive advantage (ties to fast payback) @mjskok startupsecrets.comTurning Products Into Companies 48
  • 41. Proprietary and Confidential ROI is Obvious (Supported by Self Proving Value)  Example: Unidesk @mjskok startupsecrets.comTurning Products Into Companies 49
  • 42. Proprietary and Confidential StickY  Your customers can’t live without it! • Avoids Churn  Leaves customers wanting more ! • Encourages Upsell @mjskok startupsecrets.comTurning Products Into Companies 50
  • 43. Proprietary and Confidential • Simple • Low to no initial cost • Installs easily • Proves value quickly • Plays well with others • Easy to use • ROI is obvious • Your customers can’t live without it – it’s stickY Friction Free, SLIPPERY products @mjskok startupsecrets.comTurning Products Into Companies 51 Think of how this improves the Gain/Pain Ratio in our Value Proposition Workshop Gain Pain
  • 44. Proprietary and Confidential Thank you! @underscorevc #startupsecrets

Editor's Notes

  1. Per our most recent newsletters to you, formally introducing U first which was announced just yesterday. We wanted to be first to intercept the entpep, we want to be founder first and we want to help our founders get to market first introducing… U first.
  2. Hi Everyone! Welcome to the _U First
  3. Hi Everyone! Welcome to the _U First
  4. Intelligent line art only Text in box resizable
  5. Product shrinks
  6. a set of actual or potential customers for a given set of products or services who have a common set of needs or wants, and who reference each other when making a buying decision. Moore, Geoffrey A. (2009-03-17). Crossing the Chasm
  7. By Chris Anderson 02.25.08
  8. By Chris Anderson 02.25.08
  9. “NPG!”
  10. Fast path to value
  11. Per our most recent newsletters to you, formally introducing U first which was announced just yesterday. We wanted to be first to intercept the entpep, we want to be founder first and we want to help our founders get to market first introducing… U first.