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3 Different Methods to Define amp; Build Awesome Products

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Saved by Dave Nielsen
on March 25, 2012 at 4:28:46 pm
 
Presenter: Mike Harding http://re.vu/MikeHarding follow: @mah1
NoteTaker: Kyle Warneck (@KyleWarneck)

*3 Methods to Define & Build Awesome Products*
Presenter: Mike Harding
http://re.vu/MikeHarding
follow: @mah1

Session 1 - 10 AM
NoteTaker: Kyle Warneck (@KyleWarneck)

Standing room only - And tons of folks pouring out the door into the hallway.
Note to firemarshall: that's not true
Not to everyone else: No really, it's packed

h3. Why are there so many bad products?
* Microsoft's BOB
* The ISmell (Smell the internet!)
* Xervac
* Chest hair toupee
* Edsel
* New coke
* color.com (great team- no actual product idea)
* Santa Dreidel (Facepalm!)
*Serious thought, money and PM methodology went into these products*

h2. 3 approaches for building products

h3. Approach 1: Best imaginable product
* Peter Wilton (Haas lecturer)
** satisfied customers irrelevant. Loyal customers invaluable
* *Start with a blank sheet of paper and imagine the best imaginable experience*

ex. Airtravel for business
** trips suck
** jetBlue tries to adress has emphasized in seat entertainment as a way to improve the experience But are they best imaginable???
** but what ae travelers trying to accomplish?
best imaginable experience is probably not to have to travel at all!

ex. PowerPoint
* the tool is a big distraction (crashed on Mike last night)
* but the goal is communication and that's important

h3. Approach 2: Design as a product

Book: Design is How It Works by Jay Green
recommended read by Mike
Example: the *Ace Hotel*
* identified segment that is cost sensistive and community motivated
* heard people complain about the lack of options in downtown seattle
* Came up with the feel for the hotel. Took photos of other hotels as inspiration and treated hotel as a movie
* each room is distinct and furnished with vintage stuff (lean!)
** room w/ bunkbed and no restroom for $75 - perfect for the kids
** put record player and records in room - customers loved it - began bidding up price of those rooms

But Ace had some failures too
* Ace bought a vintage work table and had a furniture maker mass produce replicas
** the resutl was not awesome- hugely expensive fail
** They scrapped all the tables and then reassembled tables from the scraps

Question from audience: Is this design driving or really knowing a demographic?
Mike's answer:
* yes, but they started with a purpose and then came up with the look/feel
* and they're pulling customers from outside their demographic
Question: what about apple? don't they do this? Answer: Highlighted apple brand loyalists in the room Question: what was their process? We don't know Question: wasn't this really price point driven? Vintage is cheap? * but got to price by going in a different direction *Ace outfit's hotel for $15,000 per room vs industry standard $40,000 per room* Question: but what about the labor cost of finding cool buildings and old vintage stuff? * definite question about scalability Audience member notes: NYC rooms start at $300 - $400 Mike says the Seattle one was <$100, but somewhat minimalist h3. Self as a customer example: Mike's time leading a business unit at Juniper during reorg in 2011 and started looking for new gig looking at his resume - thought the format felt archaic *As a hiring manager, what do I want to see?* ** treat resumes as a chronological list of lies ** used only to disqualify people- not to pick who he wants * looks for 3 things: ** skills ** passion ** fit w/ culture *and traditional resume doesn'tanswer those questions* Mike partners with a designer and makes a personal infographic and he got a gig and a positive response met with Stephen Years to do this without a designer and create re.vu Survey of HR pro's: Yuck, breaks my tools! (but I'd contact anyway) * lots of feedback like this * disintermediates HR - connects candidate with hiring manager Candidates: say "when can I get it" Hiring managers: " a breath of fresh air" Entered 59 days of code comp- and they won! Launched Re.Vu in Sept 2011. tens of thoussands of users today (in 6 months!) Between Jan 2012 - March 2012 increased users 2.5 times more examples of self as customer: * Mint.com ** design as product approach ** 1/10th of quicken features - but Mint does the work for you * Electric power production - internoch (sp?) ** Rewards clients for conservation- as if they were producing the power, but without having to build a plant * Angie's list * experiment to clean salton sea *** used shrimp famring as test procedure *** became a successful shrimp farming business * Jazzercise * nest - thermostat ** honeywell explored years ago and decided not to pursue ** nest is selling like crazy h3. conclusion *Escape* from normal mode get *perspective* *experiment* *Succeed* - create awesome projects

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