Lean Product Development And How To Choose The Right Value Proposition | Lars Lofgren
We recently hosted a conversation between Lars Lofgren, Senior Director of Growth at I Will Teach You To Be Rich, and Elliot Susel, Faculty Member at Lean Startup Co., about implementing lean product development into your organization and how to choose the right value proposition.
In Lars and Elliot’s conversation, they discuss:
- How Lars moved the company from a rigid waterfall product development process to a more lean approach.
- Why the most important part of the product development process is choosing the right value proposition.
- How to choose the right value proposition through customer interviews, surveys, and AB testing.
And much, much more…
When Lars came on to I Will Teach You To Be Rich, the company was engaged in a waterfall approach to product development where they released a bunch of courses at once and hoped they’d make “a bunch of money,” he said. The process had some hits, but just as many misses, and he knew it was time to make some changes.
As his role shifted from generating new leads to product development, he realized that it was important to drive new products to maintain the growth of the company but the process had to be significantly refined toward a lean approach. “I didn’t throw out the entire process,” he explained, “but I did throw out huge chunks of it. Now I’d say 80% of the cycle is completely different even than a year ago.”
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