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Build-Measure-Learn : Without Spending a Fortune!

Experience report presented at Agile India 2014.
by Nikhil Joshi on 4 April 2014

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Transcript of Build-Measure-Learn : Without Spending a Fortune!

Build-Measure-Learn : Without spending a fortune
Write the primary idea of the mind map in the center. Use different color notes to differentiate between topics. Use lines and arrows to create branches that connect ideas to each other.
Nikhil Joshi
@niksjoshi
"Platform for marathi theatre enthusiasts "
1. For enthusiasts : Discover shows happening around
2. For producers : Know which shows to host
3. For artists : Explore new opportunities & connect with fellow artists
The first step?
Lightweight
Is there an alternative?
YES!
Scientific
Minimum efforts
Highly influenced by real customer feedback
Low cost
What's in it?
Who is this guy?
Birth of the next BIG idea!
Problem hypothesis
How do i know if my idea has any potential
Validate riskiest assumptions first!
Solution hypothesis
How do we do it?
Business
Customers
Idea
Working software
Continuous Improvement
Continuous Delivery
Deming cycle
Lean Startup Hipsters
What will we cover?
* Lean startup : Less about "what" more about "how"
* Tools
* Natyarang.in Journey
Tools
Business Model Canvas
Concepts
© Alexander Osterwalder
Start with the lean canvas!
© Ash Maurya - Lean canvas
Hold on, I can't code...
How do I get started?
http://launchrock.com
Great stuff! Landing page live in minutes!!
Data is the fuel!
Are people interested?
Funnel reporting
Figure out what your users are upto
14 days free trial!!
Cohort analysis
Problems reaching out to
right audience?
Free if you use your own list. Paid if you ask ATYM to provide survey takers.
Reach out to interested visitors!
Interview live customers
When they're looking at your site!
Detailed visitor logs
Free 14 days trial!
Reports based on
- User environment
- Activity by agent
- Activity by hour
- Chat durations/logs
Results at in50hrs?
Launchrock:
5 signups
43 unique views
6 shares

Facebook Page:
98 Likes
596 people reached
4 conversions


Total cost to implement - 0
Total time spent - 50 hrs!


Revenue - INR 1500
Profit - INR 250


Twitter
9 tweets
98 unique hits
The major change that has happened in last 10 years?
Product Development cost dropped
Access to customer data has gone up!
PLAN: Recognise an opportunity, devise a change plan to improve results
DO: Implement the plan and measure its performance
CHECK: Assess the measurements and report the results to decision makers
ACT: Decide on changes needed to improve the process
Reference :Edward Deming - 1950
http://kissmetrics.com
http://aytm.com
http://snapengage,com
Shopify Page:
432 Page views
5 conversions


- 25 yrs old
- Fresh out of MIT Comp Sci ('05)
- Founder of 3 start-ups

"Get rid of your USB drive, mobile file cabinet!"
Drew Howard
Founder and CEO of Dropbox
http://nikhiljoshi.net
Validate the riskiest assumption first!
FB Page to describe who we are
Assumption - "Enthusiasts would like to discover the shows
happening around them and purchase tickets online"
Questions?
Reach out!
@niksjoshi
http://nikhiljoshi.net

Google analytics tells you what's happening but KISSmetrics tells you who's doing it
What we learned from KISSmetrics?
- Primarily used for knowing who's visiting different pages & What they're upto
- ~50 visitors added shows to the shopping cart in 12 hrs!
- 0 Conversions
- 25 people referred shows to a friend
Put it in front the customer!
The major change that has happened in last 10 years?
Product Development cost dropped
Access to customer data has gone up!
Natyaranga MVP


- Natyaranga.in webstore on
Shopify
to enable ticket purchase
- Free access to current/upcoming show reviews and open opportunities section on purchase of any ticket!
- 3 shows at different venues
- Guaranteed seat in first 5 rows*
- Guaranteed doorstep delivery within 24 hrs
Launchrock
Facebook
Ayojak (explara)
What we learned from AYTM?
- Primarily used for open survey's
- Survey's around show genres, preferred location, preferred ticket delivery mechanism
- 32 of ~150 people reached responded to various survey's in 12 hrs
- Survey's also resulted in a surge in page views on shopify (~300 page views in next 24 hrs
- Survey's were limited to enthusiasts (Not to production houses and theater venues)
AYTM:
32 responses
More page views


Results in first 3 months
Total cost to implement - 0
Revenue - ~ INR 8k
Validated Learnings - PRICELESS!
Facebook Page:
170 Likes
5000+ people reached
Shopify Page:
3000+ Page views
Relationship with 3 theater venues in Pune
More than 40 conversions
Key Takeaways
Start by validating your hypothesis NOT the solution!
You don't need to be a developer to get started on your idea
Plenty of tools out there to help you get started without writing any code
Gather Insights NOT just data
Lean startup concepts are principles but they're not "rules". So experiment with them and choose what works for your idea
Build - Measure - Learn : Without spending a fortune!

https://www.vizify.com/nikhil-joshi
for purchasing tickets
http://natyaranga.in/
Minimum Viable Product
"Validate the potential in your idea without writing a line of code"
Or in short,
"Validate the value/growth hypothesis first"
Dollar shave club
Is this just a gimmick?
NO!
- So many page views that the website couldn't handle the traffic!
- More than 5000 sign-ups in first few days!
- 13M+ people reached so far!
Link to an Ayojak (Now explara) page
Michael Dubin - Founder of dollarshaveclub
Take the first step!
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