The Lean Product Playbook: How to Innovate with Minimum Viable Products and Rapid Customer Feedback

The Lean Product Playbook: How to Innovate with Minimum Viable Products and Rapid Customer Feedback

Dan Olsen

Language: English

Pages: 336

ISBN: 1118960874

Format: PDF / Kindle (mobi) / ePub


The missing manual on how to apply Lean Startup to build products that customers love

The Lean Product Playbook is a practical guide to building products that customers love. Whether you work at a startup or a large, established company, we all know that building great products is hard. Most new products fail. This book helps improve your chances of building successful products through clear, step-by-step guidance and advice.

The Lean Startup movement has contributed new and valuable ideas about product development and has generated lots of excitement. However, many companies have yet to successfully adopt Lean thinking. Despite their enthusiasm and familiarity with the high-level concepts, many teams run into challenges trying to adopt Lean because they feel like they lack specific guidance on what exactly they should be doing.

If you are interested in Lean Startup principles and want to apply them to develop winning products, this book is for you. This book describes the Lean Product Process: a repeatable, easy-to-follow methodology for iterating your way to product-market fit. It walks you through how to:

  • Determine your target customers
  • Identify underserved customer needs
  • Create a winning product strategy
  • Decide on your Minimum Viable Product (MVP)
  • Design your MVP prototype
  • Test your MVP with customers
  • Iterate rapidly to achieve product-market fit

This book was written by entrepreneur and Lean product expert Dan Olsen whose experience spans product management, UX design, coding, analytics, and marketing across a variety of products. As a hands-on consultant, he refined and applied the advice in this book as he helped many companies improve their product process and build great products. His clients include Facebook, Box, Hightail, Epocrates, and Medallia.

Entrepreneurs, executives, product managers, designers, developers, marketers, analysts and anyone who is passionate about building great products will find The Lean Product Playbook an indispensable, hands-on resource.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

become customers. The percentage of prospects that convert into customers is your prospect conversion rate. You can improve this metric by optimizing your landing pages for conversion, which includes improving the messaging and UX design. A/B testing is a great tool for doing that. To generate a profit, you want your LTV to exceed your CAC, and the larger the difference, the larger your profit. Instead of looking at the difference, some businesses prefer to look at the ratio of LTV to CAC. For

13.1 Research Methods Framework Figure 13.2 AARRR Metrics Framework Figure 13.3 Retention Curve Figure 13.4 Cohort Retention Curves Figure 13.5 Improving Retention Rate over Time Chapter 14: Use Analytics to Optimize Your Product and Business Figure 14.1 The Lean Product Analytics Process Figure 14.2 ROI Curves for Three Different Metrics Figure 14.3 Friendster Viral Loop Figure 14.4 Friendster Viral Loop Metrics Figure 14.5 The Upside Potential of a Metric Figure 14.6 Average Number of Invites

cool colors such as green, blue, and purple are more calming and reserved. Many applications and websites use a blue color scheme because it conveys trustworthiness and calm. Green is associated with nature, growth, and money. Purple suggests luxury and creativity. Red is associated with aggression, passion, power, and danger. Orange is energetic and vibrant. Yellow conveys happiness and sunshine. Brown is associated with warmth and the earth. Black can suggest sophistication, elegance, and

have a Scrum Master that works with one or more Scrum teams, but a dev lead or dev manager often fills this role. Although it's not consistent with the Scrum guidelines, sometimes the role isn't explicitly filled by a single person—it's either ignored or the responsibilities of the role are distributed among the team. The team carries out certain activities to prepare for the next sprint before it starts. The Product Owner will groom the backlog to make sure that stories being considered for the

1965: a wonderful piece of technology that works great in zero gravity. Faced with the same challenge, the Russian space agency equipped their astronauts with pencils. You can actually buy a “Russian space pen” (which is just a cleverly packaged red pencil). This story shows the risk of jumping into the solution space prematurely and the advantage of starting in the problem space. If we constrain our thinking to “a pen that works in zero gravity,” we may not consider creative, less-expensive

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