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Jim Newbery - Lean by Instinct at FanDuel

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November 15, 2018
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Jim Newbery - Lean by Instinct at FanDuel

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November 15, 2018
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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 [email protected] #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

  9. None
  10. None

  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