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Jim Newbery - Lean by Instinct at FanDuel
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Code Base
November 15, 2018
Technology
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Jim Newbery - Lean by Instinct at FanDuel
Code Base
November 15, 2018
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Transcript
Lean by Instinct at FanDuel Jim Newbery @froots101 #ONEMeetup3
Lean by Instinct at FanDuel Jim Newbery @froots101 #ONEMeetup3
@froots101 Jim Newbery (Shameless self-promotion bit) Product development coach &
consultant I help B2B SaaS product teams build profitable and sustainable web applications tinnedfruit.com
[email protected]
#ONEMeetup3
@froots101 * Web product strategy * Front end architecture *
Product development flow * Tech lead coaching * Interim engineering management * Startup mentoring #ONEMeetup3
@froots101 2018 #ONEMeetup3
@froots101
@froots101 2011 #ONEMeetup3
@froots101
None
None
@froots101 2011 #ONEMeetup3
@froots101 HEALTH WARNING Survivor bias #ONEMeetup3
@froots101 We had no idea what we were doing* *
I can’t speak for everyone at FanDuel #ONEMeetup3
@froots101 “A startup is a human institution designed to create
a new product or service under conditions of extreme uncertainty” #ONEMeetup3
@froots101 Value vs Waste #ONEMeetup3
@froots101 Validated learning is the unit of value for
startups #ONEMeetup3
@froots101 PRODUCT STRATEGY VISION #ONEMeetup3
@froots101 Leap of faith assumptions #ONEMeetup3
@froots101 Value hypothesis Does it deliver value to customers? #ONEMeetup3
@froots101 Growth hypothesis Will it spread? #ONEMeetup3
@froots101 Build Measure Learn Ideas Product Data #ONEMeetup3
@froots101 PRODUCT STRATEGY VISION OPTIMISE PIVOT #ONEMeetup3
@froots101 STORY 1 Finding the Value or The Big Pivot
#ONEMeetup3
2008 @froots101
The effect
@froots101 Vanity metrics vs Startup accounting #ONEMeetup3
@froots101 PRODUCT STRATEGY VISION PIVOT ? #ONEMeetup3 What did your
investors buy into? (TEAM)
@froots101 2009 #ONEMeetup3
@froots101 #ONEMeetup3
@froots101 #ONEMeetup3 “Pretty cool” “meh” “nope” “meh” “not bad” “OK
I suppose” “meh” “meh” “meh” “NO!” “Huh?” “meh” “TAKE MY MONEY!!!”
@froots101 #ONEMeetup3 BUILD
@froots101 Sean Ellis’ Market Fit survey #ONEMeetup3 MEASURE
@froots101 “How would you feel if you could no longer
use the product/service?” #ONEMeetup3 MEASURE
@froots101 #ONEMeetup3 Very Somewhat Not disappointed MEASURE
LEARN
@froots101 From 20% to over 50% positive responses #ONEMeetup3 LEARN
@froots101 STORY 2 Finding the Engine of Growth or How
FanDuel Discovered Radio #ONEMeetup3
@froots101 Three Engines of Growth #ONEMeetup3 Paid Sticky Viral
@froots101 The Paid Engine of Growth Customer Acquisition Cost (CAC)
< Life-time value (LTV) #ONEMeetup3
@froots101 The throw-shit-at-the-wall consumer marketing strategy #ONEMeetup3 BUILD
@froots101 Promo codes! #ONEMeetup3 MEASURE TOUCHDOWN3
@froots101 Radio? Really? #ONEMeetup3 LEARN
@froots101 Seasonality #ONEMeetup3 NFL NBA NHL MLB
@froots101 The Sticky Engine of Growth Life-time value (LTV) Churn
rate Time to recover CAC Cohort analysis #ONEMeetup3
@froots101 Will players come back next season? #ONEMeetup3
@froots101 Can we cross the chasm? #ONEMeetup3 THE CHASM INNOVATORS
VISIONARIES PRAGMATISTS CONSERVATIVES SKEPTICS
@froots101 #ONEMeetup3 And then…
@froots101 TAKE AWAY Increase the likelihood of happy little accidents
(with apologies to Bob Ross) #ONEMeetup3
@froots101 THANKS! #ONEMeetup3