Lean ITP NYU Class 2: Value Proposition and Customer Discovery

We have settled on four teams, four concepts –

(Our descriptions – we look forward to your more refined Value Propositions as you progress).

Jewelry with digital memories
Modular car dashboards that are contextually aware
Volunteering apps connecting uneaten restaurant food to soup kitchens and shelters
Self-care social communities and product recommenders for chronically ill patients

Thanks to our guest speakers Chris Milne from IDEO and Travis Hardman from The Daily Voice for telling us about prototyping, and focusing on a narrow problem to solve.

Our lecture notes gave guidance for how to start the customer discovery process when you’re at the fuzzy front end of company development. Lean ITP style means more room for playful design research exercises before we narrow in and get super rigorous in future weeks.

The following sources are guidelines for how to ask questions in numerous styles and methods to get around the cover stories that we tell each other, and the lies we tell when answering questions about our unmet needs and pain points:

Actual Books:

Interviewing Users: How to Uncover Compelling Insights: Steve Portigal

Universal Methods of Design: Bella Harrington, Bruce Hanington.

Free Resources:

DSchool Bootcamp Bootleg: PDF Download

Talking to Humans: Giff Constable with our NYU Innovation lead Frank Rimalovski

Here are the lecture notes:

For Next week – Please tighten up your presentations and don’t make us do so much work to understand what you are trying to do.

Watch Customer Segments lecture.

Business Model Generation, 126-145.

The Founder’s Dilemma (HBR) and optional – The Founder’s Dilemma Noam Wasserman (Stanford Entrepreneurial Thought Leaders Podcast)

The Lean UX Manifesto by Anthony Viviano

Talk to at least 5 potential customers. Post discovery narratives on your team blog, or in an appendix in your presentation.

Prepare a presentation – guidelines below:

  • Cover slide
  • Latest version Business Model Canvas with changes marked
  • Market size (TAM, SAM, Target Market)

Total addressable: how big is the universe

Served available market: how many can I reach with my sales channel?

Target market: who will be the most likely buyers?

Propose experiments to test your value proposition. What constitutes a pass/fail signal for each test?

 

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