Startups can be wasteful creatures. 75% of startup capital gets lost in a black hole of engineering, design and product development. We fix that.
Building things users never see is a waste of time and money.
In a typical approach, the development of an app for a startup looks something like this.
- A team gets together to brainstorm the app idea.
- That turns into a requirements breakdown and maybe some wireframes explaining what the 'final' product will do.
- This is then given to engineers or shopped out for bids with a team.
- The developers will give an estimate based on the requirements and then they begin working to build this masterpiece product.
- Months pass, deadlines get missed and the bank account starts to get strained.
In many cases, these products will never even ship because they are simply too bloated. If the product does ship it doesn't catch on with users and you end up back at the drawing board trying to figure out why.
At Coplex, we are all about the elimination of waste in the process of getting a startup to product-market fit. We believe that the vast majority of early-stage startups fail because they don't build the right product at the right time. We use our Coplex Lean Process to drive what we build using techniques from your high school lectures on the scientific method.
The Coplex Lean Process is based on the premise that the success or failure of a startup is largely dependent upon the product, the market, and the fit between the two.
Time to simplify, build, test & repeat.
Our process looks like this.
- We start by defining the underlying assumptions around who your customers are, what they want, how they will find your product, and how they will actually use it.
- These priorities are built into an assumption tree, which we use to trace assumptions back to a few foundational principles that, if wrong, tank the whole business model.
- Once we’ve defined those core assumptions, we work together with you to define and design the first product iteration in the simplest form possible. This helps us validate the underlying assumptions.
- We use test cards to track our experiment, determine which assumptions we got right, and assess where we might need to make some changes.
- Then we do the development.
- Once we’ve developed the first iteration, we release it to a limited group and start the validation process.
After our experimentation window closes, we sit down together to review the qualitative and quantitative feedback from the test.
It's all about listening to your users
We see what we got right (and wrong) from real users. That data informs both the product direction as well as the assumptions we test next. If we got things wrong and we need to pivot, it's okay because we didn't overbuild for the first iteration.
For iteration 2, we update our assumption tree and carve out a few more assumptions to test. We define and design the next iteration based on the test cards that we’ve put in place. We build it, then we run the next experiment. We repeat this process until we find product-market fit.
In many cases, we end up with a very different product than what we start with and we call this the validated learning process. The most successful startups that you see today evolved from something simple and weren't a master plan from the start.
Every startup that works with Coplex goes through a highly collaborative, intensely focused process specifically designed to get their product to product-market fit as fast as possible.