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LEAN : White boarding techniques to “understand customer” and “design of product concepts”
Baidurjya Sinha (Tatan)
Product and UX Strategist
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• This is not an introduction to Lean• It does not cover how to use Lean step by step
What is this workshop not about ?
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• Give an introduction to the white boarding techniques used for LEAN innovation
• Will help you with preliminary knowledge so that you can use it in your product conception
What is this workshop about ?
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What is LEAN?Lean manufacturing or lean production, often simply "lean", is a systematic method for the elimination of waste within a manufacturing system. Lean also takes into account waste created through overburden and waste created through unevenness in work loads .
The core idea is to maximize customer value while minimizing waste. Simply, lean means creating more value for customers with fewer resources.
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What is MVP?In product development, the minimum viable product (MVP) is the product with the highest return on investment versus risk. It is the sweet spot between products without the required features that fail at sunrise and the products with too many features that cut return and increase risk.
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• New set of ideas that does not exist in the market• Existing set of ideas but an added (extra) value• Existing set of ideas but cheaper and better
Types of Idea
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• Mass market – Ambassador car
• Niche market – Mercedes car
• Segmented – Samsung phones
• Diversified – Amazon eCom and Cloud platform
• Multisided platforms – Google- search and advertising
Customer Segments
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• Newness • Performance• Customization• Getting the Job done• UX Design• Brand• Price• Cost reduction• Risk reduction• Accessibility
Value Propositions
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Channels
• Awareness - How to raise awareness about company’s products
• Evaluation - How to help customers evaluate our organizations value proposition
• Purchase - How to allow customers to purchase specific products and services
• Delivery - How to deliver a Value Prop to customer
• After Sales – How to provide post-purchase customer support
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• Personal assistance- ICICI Telephone banking
• Dedicated personal assistance – Relationship Manager
• Self service – ICICI bank portal
• Automated services – ECS service
• Communities – User communities of Microsoft
• Co-creation – User review section in Amazon.com
Customer Relationship
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• Asset Sale – eCom products
• Usage Fee – Hotel rental
• Subscription Fee – Gym membership
• Lending/Renting/Leasing- House Lease
• Licensing – Microsoft office license
• Brokerage Fees – Policy Bazaar
• Advertising- Google Search
Revenue Streams
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• Physical – machines, vehicles, computers
• Intellectual – patents, partnerships, customer data
• Human - us
• Financial – credit lines, stock, cash
Key Resources
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• Production - design, making & delivery
• Problem Solving - new solutions to customer problems, consultancy
• Platform/Network – maintaining software platforms, Amazon portal
Key Activities
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• Optimization and economy of scale - Outsourcing
• Reduction of risk and uncertainty – partnership JV
• Acquisition of particular resources and activities – Windows OS, Android
Key Partnership
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• Cost driven – minimize cost Indigo Airlines
• Value driven – premium service Taj Hotels
• Fixed costs – rent, cost of machines, salary
• Variable costs – unplanned costs like travels
• Economics of scale – bulk purchase less cost
• Economies scope – Common marketing to sell multiple products
Cost Structure
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• Problem and existing alternative:– What are the top 3 problems that needs to be solved for customer ?– How are people solving the problems today ?
• Customer Segments and early adopters:– Who are the people having the problem you are describing ?– Who is the group of people you are doing this for specially ?– What makes them unique, where are they from and how do the
behave
Lean Canvas
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• Why are you different and worth getting attention ?• What makes you stand out ?• What is the number 1 problem you are solving and
from whom ?
Lean Canvas
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• Solution– Top 3 features of your product for the problem you are
solving
Lean Canvas
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• Channels– How do you reach out to your customers ?
• SEO• Advertisement• Blogs• Events/ Conferences• Social Media
Lean Canvas
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• Revenue Streams– How are you going to make money ?– How much revenue from each stream?
• Cost structures– What are your upcoming operational costs ?
Lean Canvas
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• Key Metrics– The numbers that tell you what are you performing ?– Come up with 3 numbers ?
Lean Canvas
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• Unfair advantage– What do you have that others do not have and cannot
copy or buy ?• Patents• Outstanding Team
Lean Canvas
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• Business Model Generation- Wiley India• Value Proposition Design – Wiley India• The LEAN startup- Eric Ries
References
