Go Lean or Go Bust: Be Ruthless to Survive
Over the years REA has mastered the art of delivering products following the lean startup principles, however, working with a bank to create a home loans product was a different ballgame. Functioning in the Build-Measure-Learn cycles requires a fundamental change in the way people (or organizations) think and work.
In spring of 2017, REA made a big leap from being purely a media organization to venturing into financial services. As a result, there is now an innovative product offering in the Australian home loans market that allows consumers to sort out their home finance needs while they are still in the market looking for their dream home, all from the comfort of their living room couch.
This talk is about how to shape up your products with decisions based on data, metrics, and evidence over personal opinion.
Outline/Structure of the Talk
1. Intro - How did REA spin up a business from scratch and what were the key learnings during this journey.
2. Engage the audience with questions related to property buying - this ties back to the importance of consumer research
3. Real examples of how we validated our hypothesis and pivot our path based on user feedback
4. Conclude with top takeaways that audience can potentially apply to their day to day work.
- Importance of establishing a common goal within teams
- How to avoid waste by listening to your users
- What is ruthless prioritization
- Developing an appetite for risk
Anyone interested in taking the complexity out of an enterprise solution and building what users really want.