This document outlines the process a company took over 1 year to develop their sleep sensor product from prototype to being on shelves, including finding the minimum viable product, using frequent software updates to improve the hardware, and building strategic partnerships. They focused on solving key problems in phases, ensuring each solution could be shipped before expanding, and used rapid software cycles compared to longer hardware cycles to continuously enhance the product. Their approach combined minimizing features at first while gathering user feedback to then expand the product through software updates and evolving the hardware over time.
4. Building AN EVOLUTIONARY
REVOLUTIONARY Product
1. Finding the minimum shippable great product
2. Using software to make product great
3. Building the right partnerships
5. Minimum Shippable Great Solution
1. Having a set of problems to solve
2. Solving it in the right order
3. Making sure it s shippable
12. 3. Gut check- is it shippable?
1) Will people pay?
2) Is the enabling technology priced right?
Cost of product in small/medium scale
=
25%-50% Willingness to Pay Price
13. Building A EVOLUTIONARY
REVOLUTIONARY Product
1. Finding the minimum shippable great product
2. Using software to make hardware great
3. Building the right partnerships
21. The Product Cycle: 12-18 mo
Predict, Simplify, Make Robust!
The Software Cycle: 1-2 mo
Innovate, Take Risks, Experiment!
22. Building A EVOLUTIONARY
REVOLUTIONARY Product
1. Finding the minimum shippable great product
2. Using software to make hardware great
3. Building the right partnerships
23. Stay lean.
Employees
Contractors
Partners
Work like a Gotta get this Opportunity to
dog and are project done now, grow
smart and know what you have synergistically,
hungry, like got to do amazing strategic
you.
immediately.
partner.
24. What to look for in a great partner
• Creative
with new
models
• Courage in
risk taking
• Long-term
perspective