![MCO Theme; 1. Sports Car Replacement
For Head of household – replacing a two-seater sport car
they’re selling sport car
That needs to carry at least one child ~ 7 yr. and maybe a friend
Family will use other vehicles for full family and friends
With 5 star safety rating while keeping under a $31K
For each backlog item fill in the blanks:
Capability _[backlog item X] is the value type [use decision tree] (see next)](https://image.slidesharecdn.com/marketfistfast-esvr6-14ss-180617212026/85/Market-fist-fast-East-Side-VR-6-14-14-320.jpg)
Market fist fast East Side VR 6-14
- 1. Market-Fit-Fast Intro New Revenues Fast - often in ¼ the time Align your work to how customers value Gateway Adopters LLC Patrick F. Hogan East Side VR SIG, 6/14/2018
- 2. Innovation is Tough – But it’s Simple Execution3Selection2Ideas1 Engageme nt 4 5Innovate on your Innovation Synthesize Feedback Gateway Adopters © Breakthrough Innovation Solutions Unstick Thinking - Innovation Demystified From startups to corporate R&D - 90%+ fail – with big consequences
- 4. Target Gateway Adopters for:Requirements Marketing Messaging Sales Qualification Emulate $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $$ $ $ $ Breakthrough? Disruptive? Psychographic
- 5. Increase Win Rate - Demystify Innovation Execution3Selection2Ideas1 Engageme nt 4 5Innovate on your Innovation Synthesize Feedback Gateway Adopters © Breakthrough Innovation Solutions Execution2 3 Unstick Thinking Selection2
- 6. Are you aligning what you do with how customers value? Frequent Choke-Point: Symptoms and Indicators Gateway Adopters © Breakthrough Innovation Solutions Compelling enough to get adopted? Important problem? Clear advantage? Change behaviors? Taking too long to deliver? Too many cycles “Gold plate”? Not needed? Not overinvesting?
- 7. Most teams don’t know that: Customers value different features on the same product in different ways There are five different types of value Most teams use a blunt instrument: one-dimensional “high-low” rank-ordering Agile offers rigor for "how“ – but not "what" More precise model => big change in work Why is the Selection Choke-Point Hard? Gateway Adopters © Breakthrough Innovation Solutions
- 8. Concept Overview Market Fit Fast
- 9. Customer Can Value a feature in 5 different ways Essential / Expected “Deal killer” if not present 1. “Must”: no upside 2. “Linear”: more the better Gateway Adopters © Breakthrough Innovation Solutions NOT Essential / NOT Expected 3. “Delighter”: adds value Even simple Set product apart – differentiating? Can define a compelling release Change a market 4. “Indifferent”: no value, up/down 5. “Detractor”: not desired
- 10. Value Engineer to the minimum bar that will satisfy Prescription: Align Releases and Work to Delighter-Value Scenarios / Problem 3Scenarios / Problem 2Scenarios / Problem 1 Optimize for customer value across all linear features (no “sore thumbs”, max “ROI”) Focus on one “gold plate” for competitive advantage Linears Musts Delighters Gateway Adopters © Breakthrough Innovation Solutions
- 11. Value Type a Backlog Market Fit Fast Categorization Tool: Decision Tree Create a Consumer Vehicle
- 12. Family Sedan Target Persona, Scenario
- 13. Vehicle investment areas/examples (backlog) A. Passenger room Hip, head, knee room B. Cargo capacity Trunk space C. Passive Safety Airbags, crash zones D. Economy - TCO low ownership cost – overall E. Active Safety / “Autonomy” Active breaking, lane keeping L. Infotainment Audio, in car screens, phone compatibility M. Instruments Dash readout, configurability, heads up display N. Engine/Motor Size and sophistication of engine, motor/battery O. Drive train # Transmission ratios, AW/FW/RW drive P. Chassis / body Frame/body sophistication/strength, materials F. Interior quality Service finish, materials, fit H. Design / Styling Follow, new shapes I. Tires & Wheels Size and material sophistication J. Brakes Short stopping K. Ride & Handling Suspension sophistication & tuning
- 14. MCO Theme; 1. Sports Car Replacement For Head of household – replacing a two-seater sport car they’re selling sport car That needs to carry at least one child ~ 7 yr. and maybe a friend Family will use other vehicles for full family and friends With 5 star safety rating while keeping under a $31K For each backlog item fill in the blanks: Capability _[backlog item X] is the value type [use decision tree] (see next)
- 15. Tool: What type of value does your capability deliver? Expecte d? Yes No Indifferent Must Delighter Linear Hostile/ DetractorDetracts? Yes No Add Value? Yes No Adds value? No Yes B a c k l o g Work Customer Value
- 16. Concept Theory
- 17. Think in New “Box”: Change “Value” Model One-Dimensional High Low Two-Dimensional If Present If Absent transition to Gateway Adopters © Breakthrough Innovation Solutions
- 18. Concept Impact
- 19. New Revenues Fast - Target this Choke-Point: Gateway Adopters © Breakthrough Innovation Solutions Market Fit Fast aligns teams’ work to Delighters customers value Unsticks thinking Leaves shackles of old prioritization “box” Own a market: drive implementation by a “delighter” strategy Leverage your teams’ unique skills drive MCO to “Expected” Cross the chasm quickly Common language drives social change and breakthrough innovation Bridging teams and functions – aligns to same vision of value Works across product life cycle One meeting often cuts time-to-market 75%
- 20. How to adopt
- 21. Ad hoc Facilitate a project Need 3rd party? Fast Experience the impact How to adopt MFF Gateway Adopters © Breakthrough Innovation Solutions Expand – Scope and Depth - Use the language across teams Use in ceremonies – Planning and “definition of done” Use in spec’s – subtitle prescriptions Use when describing vision to other functions Workshop Learn as a team – make mistakes at low cost Then use on your project Introduce Concepts
- 22. Unstick Your Thinking Deliver Compelling Offering often in ¼ of the time
- 24. Gateway Adopters © Breakthrough Innovation Solutions Patrick Hogan Are you Engaging the Right part of the market for your new concept? Are you emulating the most successful innovators? Patrick.Hogan@GatewayAdopters.com www.GatewayAdopters.com @GatewayAdopters Phone: +1 (425) 444 2904 .co
- 25. Broad Range of Innovation - enterprise and startup - experience 35+ years of Experience • Envisioning and driving new offerings Rigorous Research • Adopting, creating new and improving innovation tools and best practices • 100+ of C level executives interviews • 1,000+ of consumer interviews • 100,000+ data point from thousands of projects Across many markets • New Cloud Dev API’s and supporting application platforms • Developer tools • Big data analytics solutions • Imaging and VR application platforms • Digital media consumer advertising analytics • CRM and mobile applications • New hosted authoring platform for ecommerce websites Bridge to many industries – beyond high-tech • Automotive and aerospace • Consumer banking • P&C insurance • Healthcare and eldercare • Online resort travel
Editor's Notes
- #2: Streamline the presentation to get "hands on" the decision tree ASAP with a short "why you should care" (value prop/outcomes) After experiencing the model - allude to the benefits and several ways one can use the (newly acquired) skill - but not the details e.g. don't teach how to create a target market definitions, elevator pitch, value prop/scenarios an MCO theme
- #3: Is tough – lots of places to get stuck Innovation is simple process - can be managed – when you do 4 steps – Use to figure out where you are – focus - which spot is your choke point Bespoke custom fix to your problem ID choke points in each step in process
- #4: Target the right segment….
- #7: Compliments Lean; defines the “what” at a granular level Repeatable risk assessment and mitigation / create a great Market Fit When there are many things your could do – figure out what the one thing you should do, NEXT Do more with less Align your team to what customers value Cut your time to market by 75% streamline to land faster get to market fast by doing what… Create a minimum compelling offering that gets adopted fast – not just viable what makes your idea compelling Test your value faster Does your product create customer value? Make the most of your unique skills Target the problem your best equipped to solve – Maximize your competitive advantage
- #8: Compliments Lean; defines the “what” at a granular level Repeatable risk assessment and mitigation / create a great Market Fit When there are many things your could do – figure out what the one thing you should do, NEXT Do more with less Align your team to what customers value Cut your time to market by 75% streamline to land faster get to market fast by doing what… Create a minimum compelling offering that gets adopted fast – not just viable what makes your idea compelling Test your value faster Does your product create customer value? Make the most of your unique skills Target the problem your best equipped to solve – Maximize your competitive advantage
- #10: “Must Have’s” NOT always true with very complex products
- #11: Musts: must be minimally functional but more is overinvesting Coffee has to be hot house; must have a good foundation family sedan; tires, brakes, fender liners - waxed cardboard is a great, value engineered solution, for a fender liner Linear: required and add value - need to balance across portfolio bundle of features need “make sense” for target segment / scenarios. product is valued at it’s lowest feature - don’t drag value down with inferior feature don’t overinvest where you won’t realize gain Coffee; Flavor; People pay 4 dollars for coffee which used to cost 50 cents because Starbucks had good tasting coffee. there is a niche $7.00 for Costa Rica beans(?) House; Plumbing fixtures – faucets, sinks, toilets Family sedan; seat & interior coverings, climate control, sound system, headlights, passive & active safety features, sat nav, Bluetooth. Cheep dashboard makes it an economy car, heated, ventilated leather seats does not transform a economy car into a luxury car Differentiator: not required but add high value – can compliment value proposition Select one “Cool” item – the marketing team can’t easily message more then that anyway Coffee: Foam art is a delighter. Some people select a coffee shop in Fremont that has skull and crossbones foam art. The coffee is probably below Café Vita, but they doesn’t the foam artwork. House: period textured wall covering Family Sedan; auto-park, auto-brake, glass roof Indifferent: not important - I don’t know anyone that cares what color the cup is. White is a-ok. NOTES ONE USE Segments and team dynamics: when there are divergent opinions on categories it is typically because of unidentified differences in scenarios and target segments – they are all likely correct, but NOT the same
- #12: Handouts: decision tree, prescriptions, auto persona, Auto trade offs, auto spectrum
- #18: One – $’s Full on Kano Pseudo Kano
- #22: Compliments Lean; defines the “what” at a granular level Repeatable risk assessment and mitigation / create a great Market Fit When there are many things your could do – figure out what the one thing you should do, NEXT Do more with less Align your team to what customers value Cut your time to market by 75% streamline to land faster get to market fast by doing what… Create a minimum compelling offering that gets adopted fast – not just viable what makes your idea compelling Test your value faster Does your product create customer value? Make the most of your unique skills Target the problem your best equipped to solve – Maximize your competitive advantage
- #23: If you are stuck - I can help get unstuck or I can help adopt the model BTW – Feedback – help people like you Compelling - – now make it better
- #25: Is tough – lots of places to get stuck Innovation is simple process - can be managed – when you do 4 steps – Use to figure out where you are – focus - which spot is your choke point Bespoke custom fix to your problem ID chock points in each step in process