Coloqui engr 245 lean launch pad stanford 2020
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The document outlines the developmental journey of a micro-learning platform aimed at supporting new tech managers through feedback-driven coaching and communication skills enhancement. Despite initial setbacks and pivots due to privacy concerns and product complexity, the team refined their approach and received positive feedback on their simplified MVP. Future steps include testing the effectiveness of micro-learnings and establishing a sustainable business model.
Coloqui engr 245 lean launch pad stanford 2020
- 1. Coloqui Smarter, personalized, in-time learning and development for managers Teresa Briggs Mentor
- 3. Real-time communication feedback & coaching Timely, nudge based micro learnings for new tech managers Despite many changes along the way, our core mission remains to empower individuals by overcoming workplace challenges 134 25Potential customers, partners and experts interviewed Real users served Week 0 Week 10
- 4. OUR JOURNEY B2C2B communication coaching for new tech managers MVP 2 Real time communications feedback and coaching THE ORIGINAL IDEA A feedback driven, holistic, micro-learning program for new tech managers MVP 1 The value proposed did not outweigh privacy concerns PIVOT 1 MVP 1 was too ambitious PIVOT 2
- 5. Our initial product hypothesis was that minorities need extra support to communicate effectively at work THE ORIGINAL IDEA - WEEK 1 Key Activities: Analyze conversations and speech styles in meetings Value Proposition: Help empower women and minority employees Revenue Streams: Per employee subscriptions paid by companies Value Proposition: Reduce soft-skills training costs and increase retention
- 6. Draft of Envisaged User Dashboard After 40+ customer interviews, it was clear that analyzing workplace communication was not valuable enough to justify the privacy concerns “Getting companies to allow you to listen in on conversations, without enormous business benefits, just wouldn’t happen.” - CHRO at major company THE ORIGINAL IDEA - WEEK 1
- 7. KEY LEARNING 1 Don’t get attached to your ideas ! “We sometimes really struggled to objectively assess our own ideas. You need to actively try to disprove them, and not see them as an extension of yourself. “ - Lorenz
- 8. I wasn’t prepared. No one teaches you how to manage people, and I felt very alone on this journey. - Tech Manager PIVOT 1 - WEEK 2 We discovered that new managers in technical roles struggle with their new responsibilities, and that they feel unprepared for this transition 29 of 31 technical managers we spoke with reported that they were ill prepared for the job “
- 9. KEY LEARNING 2 Pivot continuously ! “Not every pivot necessarily involved a major change. Read between the lines of the feedback you receive and continuously make small adjustments to refine your value proposition.” - Victoria
- 10. MVP 1 - WEEK 3 to 5 To address this issue, we developed an elaborate product hypothesis that would holistically help new tech managers execute their new responsibilities Customer needs addressed 1. Prioritization/time management 2. Difficult conversations/conflict resolution 3. Mental health support 4. Managing your team 5. 1:1 facilitation and data tracking
- 11. The key to our value proposition was that our product would close the loop between feedback and personalized learning 1. Team-generated feedback for managers informs... 2. ...timely, personalized micro-learning... 3. ...driving behavior change MVP 1 - WEEK 3 to 5
- 12. PIVOT 2 - WEEK 6 While customers reacted positively to our MVP, we decided to pivot due expert and product complexity concerns “I’ve never seen any organization that manages to get its employees to provide feedback in this way. They can’t even get them to fill in one HR survey per quarter.” “Focus on what you can actually trial and test in this class. What’s the one functionality that’s at the core of what you’re doing? Just do that.” - World leading L&D expert - Team Mentor (A) Expert Concerns (B) Product Complexity
- 13. Which led us to narrow down our product hypothesis to only providing managers help with imminent difficult conversations Insight: ⇒ really challenge yourself to test the simplest version of your product PIVOT 2 - WEEK 6
- 14. KEY LEARNING 3 Have the courage to do less ! “Boiling our product down to something really small and testable was a real challenge for our team. In the end we deconstructed our product idea piece by piece, and looked what we’d be left with.” - Karen
- 15. To test our MVP 2, we used social media campaigns on Facebook to find potential customers MVP 2 - WEEK 7 to 10 Insight: ⇒ change one thing at a time, so you can figure out what works
- 16. Once we had acquired customers, we provided them with curated, timely micro-learning via text message Onboarding Micro-Learning Delivery Please tell me about a communication challenge you will be facing next week? Disagreement with my PM Reject a project proposal Reject a project proposal Empathy in my 1-on-1’s ……. Here are 5 tips on how to handle this conversation: 1) …. 2) …. 3) …. Hear an expert talk about a similar situation in this 2min video: MVP 2 - WEEK 7 to 10
- 17. “I love how easy it is for me to get the most important insights in less than 5 min. It’s very tactical, practical and can be applied straight away.” - A paying customer After 3 weeks of serving 25 customers, feedback highlighted the in- time and bite-size nature of our MVP as the main value drivers Our average rating: 4.16 N = 21 MVP 2 - WEEK 7 to 10 Rita Marketing Executive & first paying customer
- 18. While we have begun to narrow in on product-market fit, next steps would require testing two further key hypotheses Hypothesis To-Test 1: Micro learnings are enough to help people actually master communication challenges Hypothesis To-Test 2: People will repurchase, we can build a financially viable business model MVP 2 - WEEK 7 to 10
- 19. KEY LEARNINGS - RECAP ! 3key lessons 1. Don’t get attached to your ideas 1. Pivot continuously 1. Have the courage to do less
- 20. Launching other startup ideas Karen Yang Starting full-time at Uber Victoria Toli Continuing with his PhD and part- time with Coloqui Brendan Fereday Continuing with MBA and other ventures Lorenz Pallhuber WHAT’S NEXT FOR COLOQUI? A big thank you to our amazing mentor Teresa, the Teaching Team & the TAs Continuing with MBA and other ventures Marisa Reddy