4 ms·
Not sure this is exactly what you're looking for (non-dev here) but I had a chance to interview Michel Feaster (HP/acquired Opsware/mentored by Ben Horowitz/fou
by collin128 5y ago
Not sure this is exactly what you're looking for (non-dev here) but I had a chance to interview Michel Feaster (HP/acquired Opsware/mentored by Ben Horowitz/founded Usermind) and picked her brain on how to create something.
The conversation centered around how to create a category but I think the process applies to side projects as well.
Copy/paste from Google doc didn't work well on mobile so here's a link to the doc: https://docs.google.com/document/d/1F0ex-c-vmitYQiDnSSODUZCWHtFBTk0Vm6QS6Y2X8FU/edit?usp=drivesdk https://docs.google.com/document/d/1F0ex-c-vmitYQiDnSSODUZCW...
Michel’s playbook
Look for 3 big shifts in the buyer’s world
Conduct day in the life interviews
Asking
When you walk in in the morning, what is the first thing you do every day?
How many applications do you log into?
What applications do you love and why?
If there was a problem I could solve for you, what would it be and why?
Who do you report to
What are you MBOs
Looking for
What did they do all day
What did they love
What did they perceive as pain
What were they promoted for if they did well
What are their challenges in their interactions with their boss
Make sure you understand
Technology landscape
Daily work life
Responsibilities / mission
Look for patterns in the data
Common pains / problems
Value attached to solving it
Find a gap you can solve
What’s the value to the user?
What’s the impact on the organization?
What’s the ROI of the impact? Value of solving?
Market
Start with a bottoms up TAM
How much do I think they’ll pay me for this? Shoot for 10% of the value, eventually.
If I achieve 20% share of the market, is it a $1 billion company?
Then do a top down TAM
If I could redirect 1% of category spending, what would that be?
$100b TAM = great for B2B, $1t for B2C?
Product
Break down what you’re going to build
Is it defensible enough from the way our competitors are currently doing things?
Is there mental space for a new Kleenex?
Whiteboard the solution
Identify 3 core capabilities you must build
See what’s out there for each of these
How difficult is it to build each?
How defensible is it?
Time horizon
Is anyone out there doing anything close to this?
Positioning / differentiated narrative
Can you define the narrative?
How difficult is it to copy?
How different is the platform?
Can you get your competitors to sell on your narrative?
Ex. No Software, Inbound Marketing, Conversational Marketing
Value
Early days you’ll only get 1% of the value you create
As you grow, you’ll have more leverage and will be able to slowly bring that up to 10%