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ProductTank Austin: Ash Maurya - Don't Start with an MVP
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A lot of people boil down the Lean Startup to: 1. Build an MVP, and 2. Run lots of experiments. But while rapid experimentation is key for idea validation, success is often predicated on starting with a reasonably good idea in the first place which begs the question: Where do good ideas come from? In this talk, Ash Maurya will outline a customer forces model that drives customer motivation/behavior, and show you how to find, define, and measure better product ideas. BIO: Ash Maurya is the author of two bestselling books “Running Lean” and “Scaling Lean”, and is also the creator of the highly popular one-page business modeling tool “Lean Canvas”. Ash is praised for offering some of the best and most practical advice for entrepreneurs and intrapreneurs all over the world. Driven by the search for better and faster ways for building successful products, Ash has developed a systematic methodology for raising the odds of success built upon Lean Startup, Customer Development, and Bootstrapping techniques. Ash is also a leading business blogger and his posts and advice have been featured in Inc. Magazine, Forbes, and Fortune. He regularly hosts sold out workshops around the world and serves as a mentor to several accelerators including TechStars, MaRS, Capital Factory, and guest lecturers at several universities including MIT, Harvard, and UT Austin. Ash serves on the advisory board of a number of startups, and has consulted to new and established companies. Ash lives in Austin, TX.
Segments Timeline
Introduction to Ash Maurya
George introduces Ash Maurya, highlighting his influential book 'Running Lean' and its impact on product management. The introduction sets the stage for a discussion on innovative product development, emphasizing the importance of customer interviews and idea validation.
"and i'm george so i'm really really super excited to have ash talk to us today i remember reading running lean which is a book i think every product manager should read and really put a good framework..."
Setting the Stage for Product Development
Ash Maurya takes the stage to discuss the evolution of product development methodologies. He outlines the historical context, from mass production to agile and lean startup approaches, emphasizing the need for adaptation to changing customer demands.
"some new ideas um specifically you know i know you saw the title probably don't start with mvp that's interesting let's see what that is all about because everyone else is talking about mvps so again ..."
The Shift from Waterfall to Lean
Ash explains the transition from traditional waterfall methods to lean startup practices. He highlights how customer demands have driven this shift, necessitating faster iterations and continuous innovation in product development.
"of applause thank you george all right welcome everyone's this can you all hear me well perfect all right so i'm ash um we're going to talk about a whole bunch of stuff today but i'd like to start by ..."
Understanding Lean Startup Principles
In this segment, Ash discusses the core principles of the lean startup methodology, focusing on the build-measure-learn loop. He critiques the common reliance on MVPs, stressing the importance of starting with a solid idea to avoid wasted efforts.
"anything to them and that kind of spawned this new era of continuous innovation or the lean startup now the point i want to raise here is that the reason we go from one methodology to the other is not..."
The Importance of Good Ideas
Ash emphasizes that successful product development begins with good ideas. He warns against the pitfalls of launching MVPs without validating the underlying concepts, explaining how flawed inputs can lead to failure in the lean startup process.
"so you could offer to start with a product and if it didn't work you had time to iterate and get yourself back on track that's how innovation was done in government there's the old joke of raise twice..."
The Role of Experimentation
Ash discusses the necessity of experimentation in the lean startup framework. He explains that experiments should validate good ideas rather than serve as a creative process, highlighting the importance of quality inputs for successful outcomes.
"your business model thrive and grow on a raise here is that this is relative to your industry so if you're in a car company you don't have to go as fast as facebook that's just silly and impossible bu..."
Identifying Sources of Ideas
In this segment, Ash outlines various sources for generating product ideas. He stresses the need to avoid starting with solutions and instead focus on identifying customer problems to ensure that the resulting products resonate with users.
"let's put it in front of the customers get some feedback and start the learning process and the thinking is that they will help us to find they will help us to iterate and all that makes so don't spen..."
The Lean Canvas as a Tool
Ash introduces the Lean Canvas as a practical tool for deconstructing product ideas. He explains how it helps entrepreneurs clarify their concepts, identify customer segments, and articulate the problems they aim to solve.
"we have to start by asking where do these ideas come from if you look at the build measure learn loop it's an experiment and if you look at the by nature experiments require inputs and if the inputs a..."
Focusing on Customer Needs
Ash emphasizes the importance of understanding customer needs and problems. He encourages entrepreneurs to narrow their focus to early adopters and specific customer segments to create more effective marketing strategies.
"down then the key building becomes a lot easier because that's what we're good at that's our strengths this part isn't so if you can start here you can actually create this mindset shift in your minds..."
Building a Strong Foundation
In this segment, Ash discusses the foundational elements necessary for successful product development. He highlights the significance of identifying the right customers and understanding their problems to ensure that the product resonates in the market.
"or how we can start process the first place usually is deconstruct your idea so how many of you here have seen this this is the lean canvas so i see number of hands going up this is essentially a one-..."
Identifying Customer Problems
Ash Maurya emphasizes the importance of identifying the right customers and their problems before developing a solution. He explains that if the foundational elements of customer and problem are incorrect, even a well-built MVP will fail to resonate, leading to a lack of feedback and financial support. This segment highlights the critical questions entrepreneurs must ask to ensure their ideas are grounded in real customer needs.
"and they'll just spend the whole time talking about the solution they'll talk about the technology and that takes up all the time here as you can see the solution box is purposefully very small becaus..."
The Innovator Bias
In this segment, Ash Maurya discusses the 'innovator bias' that often leads entrepreneurs to focus on their solutions rather than the problems they aim to solve. He warns against the tendency to justify a pre-determined solution, which can result in inventing problems that don't truly exist. Maurya stresses the need for entrepreneurs to recognize this bias to effectively utilize the Lean Canvas methodology.
"these are the fundamental pillars that you want to start with and these are the questions we want to ask ourselves in other words who is the customer and to me a customer is very clear a customer pays..."
Challenges in Customer Feedback
Ash Maurya addresses the difficulties in obtaining genuine customer feedback about their problems. He explains that customers often provide surface-level answers and may not fully understand their own needs. This segment highlights the importance of building trust with customers to elicit deeper insights and the challenges that arise when customers are unaware of their true problems.
"um the last piece we'll get into a lot more detail is how do they solve the problem today uh we want to talk about that so this in theory also works now there are challenges with starting with problem..."
The Problem with Solution Bias
In this segment, Ash Maurya elaborates on the concept of solution bias, where customers suggest solutions instead of articulating their problems. He explains that this can lead to a backlog of features that don't address the core issues. Maurya emphasizes the need for innovators to focus on understanding the underlying problems rather than simply responding to customer requests for specific features.
"and that's step one the next thing is why don't we just ask our customers talking to customers around problems is again tricky sometimes you only get surface answers because your customers oftentimes ..."
Exploring New Problems
Ash Maurya introduces the idea of exploring new problems that arise as byproducts of existing solutions. He suggests that instead of trying to invent problems to justify a solution, entrepreneurs should study current alternatives to identify gaps and opportunities for innovation. This segment encourages a shift in perspective to uncover valuable insights for product development.
"close to product has probably lived this you look at your backlog and they're essentially solutions disguised as problems the customer is asking you things and 10 customers could be asking you those t..."
Understanding Jobs to Be Done
In this segment, Ash Maurya explains the 'Jobs to Be Done' framework, emphasizing that products are hired to fulfill specific jobs for customers. He illustrates this concept using the example of a drill bit, highlighting that customers ultimately seek the outcome of a drilled hole, not the drill itself. This perspective encourages innovators to focus on the desired outcomes rather than the tools used to achieve them.
"so i'll illustrate that some of this can be a bit high level still so i mentioned outcome or jobs to be how many of you are familiar with the theory of jobs to be done all right so actually maybe half..."
Beyond the Immediate Problem
Ash Maurya discusses the importance of recognizing both immediate and latent problems that customers face. He uses the example of drilling a hole to illustrate how anxiety and mess can be significant concerns for customers. This segment emphasizes the need for innovators to address not just the primary job but also the associated challenges that customers encounter.
"a bit deeper so if we ask ourselves why do people hire a quarter inch drill bit it's not for the drill bit they're not, going to, do, anything, with, the, drill bit and keep that on you know the pedes..."
Innovating Beyond Traditional Solutions
In this segment, Ash Maurya shares how innovative solutions can emerge by addressing the problems associated with existing products. He cites the example of 3M's mounting tape as a solution that eliminates the mess and anxiety of drilling holes. This discussion encourages entrepreneurs to think creatively about how to improve customer experiences by solving underlying issues.
"which was the whole anyone see the second one you can just shout out the answer there's a shavings there's a bit of this mess it's a it's what i call an immediate problem so i drill this hole i've got..."
The Evolution of Customer Needs
Ash Maurya reflects on the evolution of customer needs and solutions in the context of music consumption. He traces the transition from cassettes to digital music and the emergence of smart devices like Alexa. This segment illustrates how understanding the changing landscape of customer needs can lead to innovative solutions that better serve users over time.
"3m did so 3m which is you know has has invented a lot of glue that they've used in post-it notes and things like that invented a certain type of glue that could be used as mounting tape and if you can..."
Understanding Customer Jobs
In this segment, Ash Maurya discusses the concept of 'jobs to be done' in the context of consumer behavior. He emphasizes that while solutions to problems may change, the fundamental jobs that customers need to accomplish remain constant. This insight is crucial for innovators looking to create products that truly meet customer needs.
"what i'm telling you that that isn't there's going to be something else that will come out two years from now and we'll all switch to that right so that's the nature of jobs is that the solution chang..."
The Innovator's Bias
Ash Maurya introduces the 'innovator's bias' and explains how it can hinder product development. He encourages innovators to study existing alternatives and uncover problems within those solutions to differentiate their offerings. This approach helps in identifying opportunities for innovation that align with customer needs.
"myself that allows me to stand out so how do we apply this so the way we apply this there is another there is a new canvas you can find this i'll, have, links, at the, end, where, you, can download th..."
The Triggering Event for Change
In this segment, Ash discusses the concept of triggering events that prompt customers to move from a state of status quo to considering new options. He illustrates this with a relatable example of how conversations with friends about new cars can shift one's perception and desire for change, highlighting the importance of understanding these triggers in product development.
"making towards progress does that make sense but at any given point in time we are in a state of status quo we're not all currently buying anything you're listening to me so at this point certain jobs..."
Navigating Customer Inertia
Ash Maurya explains the concept of inertia in customer decision-making, detailing how comfort with existing solutions can create resistance to change. He emphasizes that for a customer to switch to a new product, the motivation for change must outweigh the comfort of the old way, illustrating this with a scenario involving car purchases.
"you hear about something you experience that causes an expectation violation so to give you a very simple example let's assume i'm meeting some friends after this for drinks and i go and the first fri..."
The Consideration Phase
In this segment, Ash delves into the consideration phase of customer decision-making, where individuals actively research alternatives after experiencing a triggering event. He discusses how customers may explore various options, including those outside their usual categories, and the importance of understanding this phase for effective product positioning.
"the second law unfortunately is that for every motivation for change there's usually resistance to that change and we call this in this stage inertia so this is the comfort of the old way so buying a ..."
Understanding Competition Beyond Direct Rivals
Ash Maurya highlights the importance of recognizing competition beyond direct rivals. He explains that many startups fail not due to other startups but because they overlook existing solutions like email and spreadsheets that customers currently use. This insight is crucial for innovators to effectively position their products in the market.
"where i am in the consideration phase so this is where i start considering alternatives and i start doing that active more active research here to the point i want to raise is that i may not limit mys..."
The Customer Journey and Product Adoption
In this segment, Ash discusses the customer journey from initial consideration to product adoption. He emphasizes the significance of the 'aha moment' in product experience and how it influences whether customers continue using a product or revert to old habits. Understanding this journey is vital for businesses aiming to enhance customer retention.
"gets you into that more basic understanding that when people are triggered they're going to try to find alternatives which may not be within your specific product category now at this point we start c..."
Strategies for Business Growth
Ash Maurya outlines three key strategies for business growth: acquisition, retention, and referrals. He explains how understanding customer motivations and the forces at play can help businesses effectively attract new customers, retain existing ones, and leverage satisfied customers to bring in referrals, ultimately driving sustainable growth.
"repeats itself that's what the journey looks like as customers go from one to the other we'll make sure you have these slides you can also find some recent blog posts at leanstack.com which have this ..."
Firing the Competition: Acquisition Strategies
Maurya elaborates on the concept of customer acquisition, likening it to 'firing' existing alternatives. He uses Slack as an example, illustrating how effective messaging can position a product as the superior choice, thus encouraging customers to switch from their current solutions.
"we can grow a business using this framework we define it this way so acquisition is nothing more than causing your customer to fire their existing alternative fire email and hire my product instead hi..."
Simplifying Customer Personas
Ash Maurya advises against overcomplicating customer personas in the early stages of product development. He suggests focusing on one or two key attributes that drive customer decisions, using a straightforward approach to identify target customers effectively.
"having a product and trying to get this out there so the first thing i want to do is get you to forget personas at least in the early stages of innovation in the early stages of startups simply becaus..."
Timing is Everything: The Mattress Example
Using the example of a mattress company, Maurya illustrates the significance of timing in marketing strategies. He explains how understanding the triggering events that lead to a purchase can enhance advertising effectiveness, particularly during moments of acute customer need.
"so let's illustrate that with an example so let's say i'm a mattress company i could be casper or whoever else but one of the things that i'm that i my value proposition is is we're trying to target p..."
The Best Time to Advertise: Insights from Home Buying
Maurya shares insights on the best times to advertise for home builders, challenging common assumptions about holiday advertising. He emphasizes the importance of understanding customer triggers and positioning marketing efforts accordingly to capture interest when competition is low.
"competition there what is the worst time of the year if you're a builder when is the worst time of the year to advertise for homes any thoughts christmas holidays what if i tell you that's the best ti..."
Building a Mafia Offer
In this segment, Maurya introduces the concept of a 'mafia offer'—a compelling value proposition that customers cannot refuse. He discusses how thorough research and understanding customer needs can lead to creating offers that resonate deeply with potential buyers.
"place of course but it's still not the best place so there's actually a builder who bob some of you who follow jobs to be done may have heard his name he also is one of the thought leaders and jobs to..."
Retention and Referrals: The Story Arc
Ash Maurya explains the importance of storytelling in customer retention and referrals. He emphasizes that testimonials should reflect the customer's journey, including their objections and anxieties, to create a more compelling narrative that encourages word-of-mouth marketing.
"the worst time to advertise is not holidays it's just you're running a different type of ad so hopefully that kind of gives you some insights there are many other places we can apply this we are kind ..."
Workshops and Further Learning
Maurya invites the audience to participate in upcoming workshops that delve deeper into the concepts discussed. He highlights the practical applications of his methodologies and encourages attendees to engage with the material for better product development.
"retention and then eventually referrals is about referrals kind of uses a story arc so you can get your customers to tell the story when you go and watch hollywood movies if the movie was only the her..."
Addressing Stakeholder Concerns
In the Q&A segment, Maurya addresses a question about balancing lean startup principles with stakeholder expectations for market sizing. He discusses the challenges entrepreneurs face when trying to validate ideas with limited customer feedback while needing to satisfy funding requirements.
"anything i presented one two give it up for ash please that was fantastic and i think a lot i like a lot of the ideas here and i can't wait to try some of those and i'm sure um you are probably feelin..."
Building a Traction Roadmap
Ash explains the concept of a traction roadmap, which helps entrepreneurs present realistic growth projections to investors. He emphasizes the importance of starting with a few key metrics rather than overwhelming stakeholders with complex spreadsheets, advocating for a structured approach to forecasting and accountability.
"and and so so that's a very real problem after the first book um a lot of people as they got outside of the building they validated this with 10 people but when they got to their stakeholders they sai..."
Choosing Between Business Opportunities
In response to a question about starting a new business, Ash discusses the process of evaluating potential opportunities. He suggests modeling different options and considering the associated risks and efforts, highlighting the importance of aligning business goals with personal ambitions and market realities.
"so it shows to your investors why is the right number now but in three months that number is going to be bigger and it's going to be bigger and so it's a road map that you can show and they can at lea..."
Identifying Triggers in B2B Sales
Ash shares insights on how to identify buying triggers in B2B sales, emphasizing the importance of recognizing signals that indicate a company is ready to consider new solutions. He discusses the role of salespeople in spotting these triggers and the significance of understanding customer pain points during the buying cycle.
"very different so to me i can't answer that in a hypothetical but i would start from a process perspective of looking at each idea and then putting layers of risk putting layers of even self-ambition ..."
Focusing on Problems, Not Solutions
A participant raises a concern about the tendency to focus on solutions rather than problems in product discussions. Ash offers strategies for fostering a problem-centric mindset in teams, advocating for a disciplined approach to separate problem identification from solution brainstorming to encourage diverse ideas.
"only go there and they can try and establish themselves as a favorite when they can target those types of things and so in the very early stages you might even be looking for signals of that of that s..."
Frameworks for Complex Problems
Ash discusses frameworks for addressing complex, multi-layered problems in product development. He emphasizes the need to identify key drivers behind customer decisions and suggests using discovery techniques to validate assumptions about customer needs, rather than relying solely on initial hypotheses.
"so much and product people also work with um engineers and engineers like to talk about solutions so like how do we find that balance you know yeah it takes discipline so i even even in my team which ..."
Finding Your First Customer
In this segment, Ash Maurya discusses strategies for identifying your first customer by focusing on triggering events. He explains the importance of asking the right questions to find individuals who have recently faced the problem your product aims to solve. This approach helps in targeting potential customers who are more likely to provide valuable insights and feedback.
"where where this what this approach is about so in your instance as well i would find that complex product go back to that buying purchase procurement cycle and you'd be surprised but there'd probably..."
Refining the Lean Canvas
Ash Maurya addresses the challenges of scaling a product idea using the Lean Canvas. He suggests that when problems are too broad, it may be necessary to create multiple canvases to explore specific customer segments and their unique needs. This segment discusses the Goldilocks problem of finding the right balance between specificity and opportunity in product development.
"tried it do all this work understand what tools they use what problems they ran into how long it took were people well all the people who raised their hands successful with the with the with the job s..."
The Heart of the MVP
In this segment, Ash Maurya explains the essence of a Minimum Viable Product (MVP) by focusing on a unique value proposition that can drive customer adoption. He uses the example of the iPhone's initial launch to illustrate how a stripped-down product can effectively meet a core customer need without overwhelming features. This highlights the importance of understanding customer behavior and the job your product is meant to accomplish.
"wise type of technique so ask yourself why is something a problem and you go down multiple levels some problems could be problems are like someone asked in the back could be a month three or month fou..."