At KeyString Labs, we make collaboration and inclusivity informative and effective. Understanding our customers means knowing how to improve our customers' lives while benefiting our stakeholders. Our seven-step process informs us in providing solutions for both. Each phase of our process is essential to building the most beneficial product for our customers.
In the exploration phase, we become aware of our customers' evolving needs by uncovering frictions from ethnographic research, customer interviews, surveys, and even regulatory processes. From there, we define the problem statement, develop customer personas, and map the ecosystem while conducting preliminary market sizing and regulatory research.
As we enter the ideation phase, we narrow our focus to one friction and begin to generate potential solutions for the problem. We lean on our brains' right side to ideate through exercises like "How Might Wes" to define our customer segmentation and value propositions. We then switch to our brains' left side to complete the three horizons perspective, business model canvas and finalize market sizing and regulatory analysis.
Once we land on the solution, we move on to the concept build phase, defining the long-term vision and investment case for a chosen solution. We focus on business and economic analysis in this phase, leading to a product roadmap and financial and regulatory plans.
As we finalize our business case, we transition to developing the MVP, which stands for a minimum viable product. In this phase, we define the product offer and core features. Then we assess the market fit through user testing. From there, we establish the build requirements and establish OKRs (objectives and key results) and KPIs (key performance indicators).
Once the MVP is defined, we enter a build, measure, learn, rebuild phase to develop a functioning product. We conduct user testing for product refinement in these two stages, solve secondary and tertiary risks, and begin developing a commercialization plan.
Once we've refined an MVP solution, we enter the commercialization stage. We use this time to launch and transition the product into its permanent home in the organization. In this stage, we continue to staff a team while finalizing the product enhancement and ongoing business plan.
With a newly formed product team established, KSL transfers product ownership to the Entergy business unit responsible for scaling our new product and ensuring that it continues to meet our customers' evolving needs.
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