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Flashcards in Week 3 Deck (10):
1

Who are the most imp users
Why?

The “first” ones; the early adopters
If they understand and use, they will promote to lower tiers and help define value proposition

2

What is the target market?

Group of users product/service is aimed at

Identify in terms of demographic, purchasing power, literacy, education etc

3

TAM

Total opportunity for product in addressable units

Use research or extrapolate data from early selling efforts

4

What is product-market-fit?
Goal?

Gauge whether good match between users and product

Test whether conceptual product solves the problem

Is this the right soln? Should we pivot?

5

What are product features? How are they defined?

Any considerable component of product
Defined by developing a table of estimated effort and estimated value

6

What is the minimum viable product?

Minimum set of features that achieves product goals

Solve problem robustly

7

How is positioning done?

Know competitors and competing products
Take two critical parameters that matter to users
Fill landscape with competitors and fill gap
Position your idea here!
(Graphical)

8

Why go modular?

Upgrades without big cost

Testing in isolation

Eliminates dependencies

9

Problems with modularity?

Integration bugs

Overall system may not be seamless

10

How should you deal with critical assumptions?

Any product is based on a set of assumptions

Need to be tested; If fail, need to re-evaluate