Jim Newbery - Lean by Instinct at FanDuel

Transcript

1. Lean by Instinct at FanDuel Jim Newbery @froots101 #ONEMeetup3
2. Lean by Instinct at FanDuel Jim Newbery @froots101 #ONEMeetup3
3. @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 james@tinnedfruit.com #ONEMeetup3
4. @froots101 * Web product strategy * Front end architecture * Product development flow * Tech lead coaching * Interim engineering management * Startup mentoring #ONEMeetup3
5. @froots101 2018 #ONEMeetup3
6. @froots101
7. @froots101 2011 #ONEMeetup3
8. @froots101
11. @froots101 2011 #ONEMeetup3
12. @froots101 HEALTH WARNING Survivor bias #ONEMeetup3
13. @froots101 We had no idea what we were doing* * I can’t speak for everyone at FanDuel #ONEMeetup3
14. @froots101 “A startup is a human institution designed to create a new product or service under conditions of extreme uncertainty” #ONEMeetup3
15. @froots101 Value
 vs
 Waste #ONEMeetup3
16. @froots101 Validated learning 
 is the unit of value for startups #ONEMeetup3
17. @froots101 PRODUCT STRATEGY VISION #ONEMeetup3
18. @froots101 Leap of faith assumptions #ONEMeetup3
19. @froots101 Value hypothesis Does it deliver value to customers? #ONEMeetup3
20. @froots101 Growth hypothesis Will it spread? #ONEMeetup3
21. @froots101 Build Measure Learn Ideas Product Data #ONEMeetup3
22. @froots101 PRODUCT STRATEGY VISION OPTIMISE PIVOT #ONEMeetup3
23. @froots101 STORY 1 Finding the Value
 or The Big Pivot #ONEMeetup3
24. 2008 @froots101
25. The effect
26. @froots101 Vanity metrics vs Startup accounting #ONEMeetup3
27. @froots101 PRODUCT STRATEGY VISION PIVOT ? #ONEMeetup3 What did your 
 investors buy into? (TEAM)
28. @froots101 2009 #ONEMeetup3
29. @froots101 #ONEMeetup3
30. @froots101 #ONEMeetup3 “Pretty cool” “meh” “nope” “meh” “not bad” “OK I suppose” “meh” “meh” “meh” “NO!” “Huh?” “meh” “TAKE MY MONEY!!!”
31. @froots101 #ONEMeetup3 BUILD
32. @froots101 Sean Ellis’ Market Fit survey #ONEMeetup3 MEASURE
33. @froots101 “How would you feel if you could no longer use the product/service?” #ONEMeetup3 MEASURE
34. @froots101 #ONEMeetup3 Very Somewhat Not disappointed MEASURE
35. LEARN
36. @froots101 From 20% to over 50% positive responses #ONEMeetup3 LEARN
37. @froots101 STORY 2 Finding the Engine of Growth
 or How FanDuel Discovered Radio #ONEMeetup3
38. @froots101 Three Engines of Growth #ONEMeetup3 Paid Sticky Viral
39. @froots101 The Paid Engine of Growth Customer Acquisition Cost (CAC)
 <
 Life-time value (LTV) #ONEMeetup3
40. @froots101 The throw-shit-at-the-wall
 consumer marketing strategy #ONEMeetup3 BUILD
41. @froots101 Promo codes! #ONEMeetup3 MEASURE TOUCHDOWN3
42. @froots101 Radio? Really? #ONEMeetup3 LEARN
43. @froots101 Seasonality #ONEMeetup3 NFL NBA NHL MLB
44. @froots101 The Sticky Engine of Growth Life-time value (LTV) Churn rate Time to recover CAC Cohort analysis #ONEMeetup3
45. @froots101 Will players come back next season? #ONEMeetup3
46. @froots101 Can we cross the chasm? #ONEMeetup3 THE CHASM INNOVATORS VISIONARIES PRAGMATISTS CONSERVATIVES SKEPTICS
47. @froots101 #ONEMeetup3 And then…
48. @froots101 TAKE AWAY Increase the likelihood of happy little accidents 
 (with apologies to Bob Ross) #ONEMeetup3
49. @froots101 THANKS! #ONEMeetup3