FI_SiliconValleySummer2016_ProductDevelopment_OmarValle

FI_SiliconValleySummer2016_ProductDevelopment_OmarValle

• 2.
  • What isJTBD? • Define your customer’s Job-To-Be-Done • Identify your Job Steps • Identify the Customer Needs within each Job Step • Quantify the Importance and Satisfaction of the Customer Needs to find the unmet Needs • Determine features based on Opportunity Score = Biggest underserved Needs
• 3.
  • JTBD isan idea that people buy products and services to get jobs done. • It links a company’s value creation activities to customer-defined metrics (needs) • Jobs are independent of any product or service • Jobs are stable over time – “Start with the customer experience and work back toward the technology.” – Steve Jobs – “People don’t want a quarter-inch drill, they want a quarter-inch hole” –Theodore Levitt
• 4.
  • What isyour customer trying to with or without your product/service? It’s agnostic to a solution and is nearly timeless. • Examples of Jobs-To-Be-Done: – Ensure my kids are not late to things – Create a way to pay organizations whatever, whenever, and however I want – Ensure I don’t miss out on any business
• 5.
  • If anexisting product goes away, will the job go away? If yes, it is not a job. • Was anyone trying to do this job 100 years ago? • Does your customer wake up some mornings, thinking about getting this job done? For example, few people wake up thinking, “I need to manage the data around my customers,” but many people wake up thinking, “I can’t let this customer churn!”
• 6.
  • So whatJOB is your startup helping people do? • Pick the most important job for the customer that will get the most value of the job being done (and possible pay for it)
• 7.
  • Every jobis a process that has a beginning, a middle, and an end. They can be broken down into different steps that fall into six main categories: ConcludeModifyMonitor ExecuteDefine Prepare
• 8.
  1. Define- Whatmust be defined, selected, decided to ensure the job is successfully executed? 2. Preparation – What must be prepared, confirmed, validated to execute the job correctly? 3. Execution- What tasks must be executed to start the job? 4. Monitoring- What inputs, outputs, or processes must be monitored during execution 5. Modify- What inputs, outputs, or processes need to be modified during execution 6. Conclusion- What decision need to be made to conclude the job? What output is required to conclude the job? What tasks need to be done to prepare to execute the job again?
• 9.
  Assess the vehicle's market value Define Gatherinformation to market the vehicle Prepare Attract potential buyers Execute Screen potential buyers Monitor Negotiate the transaction Modify Deliver the vehicle Conclude
• 10.
  Define Prepare Execute MonitorModify Conclude
• 11.
  • Pick onejob step ask the interviewee: – “What makes this job step, difficult, frustrating, or time-consuming • Try to uncover 1-2 Customer Needs within a Job Step • The Customer Need is a metric that customer uses to measure the speed and accuracy of executing a job step. There are 3 elements: 1. A direction of improvement (usually “minimize”) 2. A metric (usually “time” or “likelihood”) 3. A goal that relates to the job step. It is independent of any solution Job: Sell a car Job Step: Define- “Access the vehicle's market value” Customer Need: Minimize the time it takes to find my car’s market value
• 12.
  • Importance: ameasure of how important a customer need is to the customer • Satisfaction: a measure of how satisfied customers are that they can achieve the goal of the Customer Need • Measure on 5-point score: not important, somewhat important, important, very important, and extremely important • Opportunity Score: Importance + (Importance – Satisfaction)
• 16.
  JTBD helps acompany innovate. It helps it create products and services that let consumers perform a job faster, better, more conveniently, and/or less expensively than before. To be innovative, companies must know what outcomes customer are trying to achieve (what metrics they use to determine how well a job is getting done) and figure out which technologies, products, and features will best satisfy the important outcomes that are currently underserved.
• 17.
  • The costincurred in making an economic exchange of some sort, or the cost of participating in a market: – Search and information costs – Bargaining costs – Policing and enforcement Will other party sticks to terms of agreement/contract? If not, what is the appropriate actions (legal)? Is it in the market? Is it at the best price? Can we come to an acceptable agreement? Do we need contracts?