The Lean Product Playbook provides specific, step-by-step guidance on how to apply Lean Startup ideas. In his talk, Dan describes an actionable model for product-market fit and a 6-step process that explains how to rapidly iterate based on customer feedback, illustrated with real world examples. Key takeaways: • Lean Startup principles. • The Lean Product Process: a methodology for achieving product-market fit.

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8. Dan Olsen
TONIGHT’S SPEAKER

9. A Playbook
For Achieving
Product-
Market Fit
DAN OLSEN

10. Product Manager’s motto:
Spiderman’s motto:
“With great power comes
great responsibility”
“With great responsibility
comes NO power”
Copyright © 2018 @danolsen

11. Product-Market Fit

12. That’s Why I Wrote
■ Book giveaway on Twitter
■ Tweet: include @danolsen
■ Hashtags
#leanstartup
#prodmgmt
#productcon
Copyright © 2018 @danolsen

13. The Product-Market Fit Pyramid

14. The Lean Product Process
I’m going to cover
these 3 steps

15. The Lean Product Process
1. Determine your target customer
2. Identify underserved customer needs
3. Define your value proposition
4. Specify your MVP feature set
5. Create your MVP prototype
6. Test your MVP with customers
Copyright © 2018 @danolsen

16. Transportation within 100 miles of my home
Soccer Mom Speed Demon
Carry kids & gear
Safety
Fuel economy
Go fast
Looks cool
Makes me look cool
Target Customer Has Distinct Needs
High-level need
Target Customer
Detailed needs
Ideal Product
Soccer Mom Speed Demon

17. The Lean Product Process
1. Determine your target customer
2. Identify underserved customer needs
3. Define your value proposition
4. Specify your MVP feature set
5. Create your MVP prototype
6. Test your MVP with customers
Copyright © 2018 @danolsen

18. Russians: pencil
Space pen: $1 M R&D cost
Example
■ Ability to write in space
(zero gravity)
Problem Space vs. Solution Space
Problem Space
■ A customer problem, need
or benefit that the product
should address
■ A product requirement
Solution Space
■ A specific
implementation to
address the customer
need or requirement
Copyright © 2018 @danolsen

19. Problem vs. Solution Space: Product Level
Problem Space
(user benefits)
Solution Space
(product)
TurboTax
TaxCut
Pen and
paper
Prepare
my taxes
Copyright © 2018 @danolsen

20. Problem vs. Solution Space: Product Level
Problem Space
(user benefits)
Solution Space
(product)
Prepare
my taxes
File my
taxes
Check my
taxes
Maximize my
deductions
Reduce my
audit risk
Copyright © 2018 @danolsen

22. Prioritizing Needs: Importance vs.
SatisfactionImportanceofUserNeed
User Satisfaction with Current Alternatives
Competitive
Market
Low High
Low
High
Not Worth Going After
Copyright © 2018 @danolsen

23. Prioritizing Needs: Importance vs.
SatisfactionImportanceofUserNeed
User Satisfaction with Current Alternatives
Low High
Low
High
Copyright © 2018 @danolsen

24. Prioritizing Needs: Importance vs.
SatisfactionImportanceofUserNeed
User Satisfaction with Current Alternatives
Competitive
Market
Low High
Low
High
Not Worth Going After
Copyright © 2018 @danolsen

25. Prioritizing Needs: Importance vs.
SatisfactionImportanceofUserNeed
User Satisfaction with Current Alternatives
Competitive
Market
Opportunity
Low High
Low
High
Not Worth Going After
Copyright © 2018 @danolsen

26. Prioritizing Needs: Importance vs.
SatisfactionImportanceofUserNeed
User Satisfaction with Current Alternatives
Low High
Low
High
Copyright © 2018 @danolsen

27. Users Rated 13 Key Features in a Survey
Recommended reading:
“What Customers Want” by Anthony Ulwick
Great
Copyright © 2018 @danolsen
Bad

28. The Lean Product Process
1. Determine your target customer
2. Identify underserved customer needs
3. Define your value proposition
4. Specify your MVP feature set
5. Create your MVP prototype
6. Test your MVP with customers
Copyright © 2018 @danolsen

29. Kano Model: User Needs & Satisfaction
Need
not met
Need
fully met
Copyright © 2018 @danolsen

30. Kano Model: User Needs & Satisfaction
User Satisfaction
User Dissatisfaction
Need
not met
Need
fully met
Copyright © 2018 @danolsen

31. Kano Model: User Needs & Satisfaction
User Satisfaction
User Dissatisfaction
Performance
(more is better)
Delighter (wow)
Need
not met
Need
fully met
Must Have
Copyright © 2018 @danolsen

32. Kano Model: User Needs & Satisfaction
User Satisfaction
User Dissatisfaction
Performance
(more is better)
Delighter (wow)
Need
not met
Need
fully met
Must Have
Needs & features
migrate over time
Copyright © 2018 @danolsen

33. What is Your Value Proposition?
■ Which user benefits are you providing?
■ How are you better than competitors?
Must Have Benefit 1
Performance Benefit 1
Performance Benefit 2
Performance Benefit 3
Delighter Benefit 1
Delighter Benefit 2
Copyright © 2018 @danolsen

34. What is Your Value Proposition?
■ Which user benefits are you providing?
■ How are you better than competitors?
Competitor A Competitor B You
Must Have Benefit 1
Performance Benefit 1
Performance Benefit 2
Performance Benefit 3
Delighter Benefit 1
Delighter Benefit 2
Copyright © 2018 @danolsen

35. What is Your Value Proposition?
■ Which user benefits are you providing?
■ How are you better than competitors?
Competitor A Competitor B You
Must Have Benefit 1 Y Y
Performance Benefit 1 High Low
Performance Benefit 2 Low High
Performance Benefit 3 Med Med
Delighter Benefit 1 Y -
Delighter Benefit 2 - -
Copyright © 2018 @danolsen

36. What is Your Value Proposition?
■ Which user benefits are you providing?
■ How are you better than competitors?
Competitor A Competitor B You
Must Have Benefit 1 Y Y Y
Performance Benefit 1 High Low Med
Performance Benefit 2 Low High Low
Performance Benefit 3 Med Med High
Delighter Benefit 1 Y - -
Delighter Benefit 2 - - Y
Copyright © 2018 @danolsen

37. What were Instagram’s
Unique Differentiators?

38. Instagram Value Prop
Other Photo
Sharing Apps Instagram
Must Haves
Let me share my photos Y Y
Performance benefits
Post my photos quickly Low High
Delighters
Make my photos look good
(filters, square aspect ratio)
N Y
Copyright © 2018 @danolsen

41. Who are Uber’s competitors?

42. What customer problems or
benefits does Uber call out?

43. Uber’s Value Prop
Copyright © 2018 @danolsen
Customer Benefit
Performance benefits
Let me quickly get a ride (faster)
Save me money (cheaper)
Give me a nice experience (nicer)
Make me feel safe (safer)

44. Uber’s Value Prop
Copyright © 2018 @danolsen
Customer Benefit Taxis Car Services Uber
Performance benefits
Let me quickly get a ride (faster)
Save me money (cheaper)
Give me a nice experience (nicer)
Make me feel safe (safer)

45. Uber’s Value Prop
Copyright © 2018 @danolsen
Customer Benefit Taxis Car Services Uber
Performance benefits
Let me quickly get a ride (faster) Med Low
Save me money (cheaper) High Low
Give me a nice experience (nicer) Low High
Make me feel safe (safer) Low-Med High

46. Uber’s Value Prop
Copyright © 2018 @danolsen
Customer Benefit Taxis Car Services Uber
Performance benefits
Let me quickly get a ride (faster) Med Low
Save me money (cheaper) High Low
Give me a nice experience (nicer) Low High
Make me feel safe (safer) Low-Med High

47. Uber’s Value Prop
Copyright © 2018 @danolsen
Customer Benefit Taxis Car Services Uber
Performance benefits
Let me quickly get a ride (faster) Med Low High
Save me money (cheaper) High Low Med
Give me a nice experience (nicer) Low High High
Make me feel safe (safer) Low-Med High High

48. Uber’s Value Prop
Customer Benefit Taxis Car Services Uber
Must Haves
Take me where I want to go Y Y Y
Performance benefits
Let me quickly get a ride (faster) Med Low High
Save me money (cheaper) High Low Med
Give me a nice experience (nicer) Low High High
Make me feel safe (safer) Low-Med High High
Delighters
I can book without having to call N N Y
I can see where the car is N N Y

49. Summary
■ Peel the onion to:
■ Determine your target customer
■ Identify their customer needs
■ Define the problem space
■ Identify underserved needs by using
importance and satisfaction
■ Define your value proposition using the
Kano Model
Copyright © 2018 @danolsen

50. Kintan Brahmbhatt, Director of Product, Amazon
Thu Mar 22nd at Intuit, Mountain View
How Amazon Builds Products with Customer

51. Product Management Consulting
I’ve been helping tech
companies for
9 years at VP/CPO level
I’ve expanded my PM
consulting team:
■ Senior PM level
■ Director of PM level
■ Senior Director of PM
Questions?
@danolsen
dan-olsen.com
meetup.com/lean-product
I’ll ping winners on Twitter
Happy to connect LinkedIn
Copyright © 2018 @danolsen

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