This document describes an iteration process for developing a GPS tracking device and mobile app called "iwantmybikeback" to help bike owners recover stolen bikes. It discusses the target user "Elena" and her needs. Four iterations are described, with assumptions tested and metrics provided. The first iteration of an alarm/RFID/GPS device was validated but subsequent ideas of a fitness subscription app and relying on police reports were invalidated. The fourth iteration of a $100 price point was validated via A/B testing.

1. i
want
my
bike
back
Lean
Startup
Machine
Boulder,
CO
May
20,
2012

2. Problem:
2
million
broken
hearts

3. SoluDon
“iwantmybikeback”
GPS
tracking
device
and
mobile/
web
applicaDon

4. Enter,
Elena
(the
target)
The
Commuter
• Bike
is
integral
to
life
• $500
bike
• Disposable
income
• Trendy
• Uses
social
media
• Has
a
smartphone
• Early
Adopter
• Looking
for
a
soluDon
to
keep
her
bike
safe

5. IteraDons
ITERATIONS
1
2
3
4
Test
Alarm,
RFID,
Fitness
App
People
will
Price
GPS,
lock?
SubscripDon
not
act
AssumpDon
People
want
Want
more
FatalisDc
People
will
GPS
features
pay
$100
Metrics
VALIDATED
INVALIDATED
INVALIDATED
VALIDATED
8/17
2/12
7/10
21/23
Learned
Locks
don’t
cut
No
monthly
File
police
$100
is
good
it
fee
reports
AcDon
PIVOT
PIVOT
PIVOT
PERSEVERE

6. @wantmybikeback
A/B
tesEng
10
visits
per
hour

8. iwantmystuack.com

9. QuesDons
&
Answers
THANK
YOU.