Lean Analytics: Use Data to Build a Better Startup Faster (Lean (O'Reilly))

by Alistair Croll

Business model Company stage E-commerce Two-sided marketplace Software as a Service Free mobile app Media User-generated content The really big question Will they buy enough for enough money from you? Will it solve a pain they’ll pay for? Will they engage with content in a repeatable manner? Empathy stage: Problem validation: getting inside your market’s head to discover real needs you can solve. These tend to be qualitative discussions and open questions. How do buyers become aware of the need? How do they try to find a solution? What pain do they encounter as a result? What are their demographics and tech profiles? Do buyers need a place to sell? Do sellers need a place to buy? How do they transact today? How do they find items? What prevents them from buying through those channels? Do prospects have a known need they are pained to solve today? Can they do it with software? How do they learn about such solutions? What’s the buying process? What’s your target market? What similar games and models have worked? Are there examples of similar pricing and gameplay habits? Can you get enough attention around a subject? How do people consume information? Does a community exist? What makes it special and unique? How do others join it? How fast is it growing? Empathy stage: Solution validation. This happens in both qualitative and quantitative approaches, and in some cases curated MVPs or regional tests. What competes with the product you’re proposing? What’s the price elasticity ...

What metrics matters depending on your business model and stage