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Presentation slides given by Scott Cook at Software 2005 conference. See http://onproductmanagement.net/2009/06/10/scott-cook for more info.
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Stories of Invention
Scott Cook
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Revolutionize Peoples’ Lives
Our Mission
Changes so profound customers can’timagine going back to the old way
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The QuickBooks Story
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Challenges in the QuickBooks Launch
Unknown name Higher price...2X the market leader Tiny feature set…less than 1/2 the features Bad advertising
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Challenges in the QuickBooks Launch
Unknown name Higher price...2X the market leader Tiny feature set…less than 1/2 the features Bad advertising Bugs Vanishing data Tech support hell
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% DOS Unit Volume
QuickBooks LaunchShare of Retail Sales, 1992-93
Pacioli DacEasy
OtherPeachtree
70%
60%
50%
40%
30%
20%
10%
0%JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR
QuickBooksQuickBooks
Sh
are
of
Reta
il S
ale
s
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The Essence of the Invention
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The Customer ProblemMost small firms hate& can’t do debit/creditaccounting
Our Solution: QuickBooksThe first accountingsoftware with no debits orcredits
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Find an ImportantCustomer Problem
that’s Unsolved
SolveIt Well
Customer Driven Invention
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The Customer ProblemMost small firms hate& can’t dodebit/creditaccounting
Our Solution: QuickBooksThe first accountingsoftware with no debits orcredits
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Employees
Customers
Shareholders
What Drives Success…Our View
• High-performing org• Great place to work
• Delight so they buy more & tell friends• Invent better ways to live
• Profitable growth• Big successful businesses
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Find an ImportantCustomer Problem
that’s Unsolved
SolveIt Well
Customer Driven Invention
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Three mindsets had to change
That accounting was the areawe should address
That POS is complex andcustom installed by VARs for$4,000
That Intuit sells software
The QB Point of Sale Story
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Two Versions of QuickBooksPoint of Sale
Software Only - $799
Receipt Printer
Cash Drawer
Bar CodeScanner
Credit Card Swipe
Hardware + Software - $1499
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Results: Nation’s #1 sellingPOS system among smallretailers
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Two Keys to Customer Driven Innovation
The mindset most in need ofchange is likely your own
The key to mindset change is tostudy customers
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The Barrier to Mindset Change
“Empathy is not just about walking inanother’s shoes...first you must removeyour own shoes.”
-- Indian proverb
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“Empathy is not just about walking inanother’s shoes...first you must removeyour own shoes.”
-- Indian proverb
“Before you criticize someone, you shouldwalk a mile in their shoes. That way,when you criticize them, you’re a mileaway and you have their shoes.”
-- Unknown
The Barrier to Mindset Change
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Victoria’s Secret
Action: Follow-me-home…to the lingerie drawerDiscovery: Missing 5/7ths of usage as sexy underwearisn’t thought comfortable
New offering: Body by Victoria…seamless underwear Result: Growth rate doubled
victoriassecret.com
Situation: Share flat at just over 20%
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The Key to Customer Driven Innovation
The mindset most in need ofchange is likely your own
The key to mindset change is tostudy customers
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Developers Financial InstitutionsVisa/MC/AmEx
IndustryPartners
Customers
Accountants
Mid-SizedBusinesses
Federal & State Government
Startup
OFX
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What’s Driving Customers Now
Return ToSimplicity
Right For Me…
Right Out Of The Box
On Demand IsIn Demand
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23 September 15, 20042323
Return ToSimplicity
Right For Me…
Right Out Of The Box
On Demand IsIn Demand
What’s Driving Customers Now
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2003 edition
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2004 edition
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Results
Leaps in customer ratings
Driving TurboTax volume gains
While leading competitor shrinks
FYTD 2004 2005 GainTurboTax Web 69 78 + 9 points
First time users 48 71 +23 points
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After – Three Step Process
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Simplicity In Many Businesses
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Right For Me…
Right Out Of The Box
Return ToSimplicity
On Demand IsIn Demand
What’s Driving Customers Now
3636
Inc’s Fastest Growing Business, 2003
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QuickBooks Enterprise Solutions
Priced at $3,500a fraction of competitors’ cost
Aug 03
83% Unit Growth RateFY04
Jan 05
QB EnterpriseRevenues
Rev
enue
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Developers Financial InstitutionsVisa/MC/AmEx
IndustryPartners
Customers
Accountants
Mid-SizedBusinesses
Federal & State Government
Startup
OFX
39 September 15, 20043939
On Demand IsIn Demand
Right For Me…
Right Out Of The Box
Return ToSimplicity
What’s Driving Customers Now
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Intuit Hosts for 4 Million Customers
1999 2000 2001 2002 2003 2004
0
Reven
ue
Intuit ASPRevenue
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Return ToSimplicity
Right For Me…
Right Out Of The Box
On Demand IsIn Demand
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What’s Driving Customers Now
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The QuickBase Story
HostedFlexible
“Database”
forSmall Business
Technology Out
EasyFast
Team Workflow
forCorporate Workgroups
Customer In
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Team Workflow for Corporate Workgroups
“Tivo and QuickBase… neither has ever let me down!”-- Strategic Planning Lead, Fortune 100 Financial Services Company
Project Management
Sales and Marketing
Customer Support
Finance and Treasury
Product Development
Quality Assurance
Operations
HR and Training
Workgroups Manufacturing
High Tech
Telecommunications
Airlines
Real Estate
Aerospace & Defense
Beverages
Transport & Logistics
Banks
Healthcare
Entertainment
Retail
Builders
Pharmaceuticals
Temporary Services
Apparel
Industries
24 of the Fortune 100, including Sprint, Bank of America
Top accounts average over 1000 users, and manage over60 workflows
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Revolutionize Peoples’ Lives
Our Mission
Changes so profound customers can’timagine going back to the old way
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4646
Continuing Invention
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Changes so profound customers can’timagine going back to the old way