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Michael Margolis

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108
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2024-12-01
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2024-12-01
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podcast

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  1. “So, a bullseye customer is the very specific subset of your target market who initially is most likely to adopt your product or service. And so compared to when we talk to founders about their ICP or the personas that they come with, this tends to be more specific, Eben, than they usually have gotten. And the reason that this concept of bullseye customers become so important to us is we've seen this as really key to accelerating teams. ambitious founder wants to build a product for everybody. And we're investors. So at GV, we want them to be successful and have these huge markets. But it doesn't start there. So to build success, usually you have to be much more focused and much more specific. So you can look at lots of companies, right? Amazon started just selling books or Facebook was just profiles for college students, et cetera, et cetera. So helping founders.”

    2024-12-01 · Lenny's Podcast · Identify your bullseye customer in one day | Michael Margolis (UX Research Partner at Google Ventures) · IDENTIFIED FROM THE TRANSCRIPT · source

  2. “It's hundreds. So I've conducted at this point over 300 hands on research sprints with them. So we also work with many, many others where we're just doing tons of office hours. And so it's everything from, just to give you a sense, it's anything from biotech to healthcare to security, food. I've worked with farmers. It's really all over the place.”

    2024-12-01 · Lenny's Podcast · Identify your bullseye customer in one day | Michael Margolis (UX Research Partner at Google Ventures) · IDENTIFIED FROM THE TRANSCRIPT · source

  3. “And so it took a lot of those techniques and recombined them and have adapted them and experimented over the last 14 years, working with hundreds of different kinds of startups. So we have a very broad variety of founders and product people that we're working with. So over the past 14 years, what we've really experiment got into experiment and gotten to work with them and be kind of a small piece of the journey that they're on to learn and answer these fundamental questions that they have about their products and their people.”

    2024-12-01 · Lenny's Podcast · Identify your bullseye customer in one day | Michael Margolis (UX Research Partner at Google Ventures) · IDENTIFIED FROM THE TRANSCRIPT · source

  4. “Everyday low cost and speed. And so I had to really compress those techniques and make them much, much faster and learn to combine deep ethnographic discovery work with usability work and getting lots and lots of reps. From there, I went to Google. So I was embedded in a Gmail team early on in 2006. And so what we did there was then combining these also at scale, doing this kind of innovation at speed. You can see kind of this trend of getting faster and faster. One of the things we did a lot there was the way I would do the research is with watch parties so teams would be able to see it. Google had invested in lots of video conferencing, streaming from the labs, one-way mirrors, a lot of things early on. So the teams were involved and they were seeing and watching this stuff. So a lot of those techniques I brought then to GV, to Google Ventures when I joined in 2010. So I was the first UX research partner in venture capital at the time.”

    2024-12-01 · Lenny's Podcast · Identify your bullseye customer in one day | Michael Margolis (UX Research Partner at Google Ventures) · IDENTIFIED FROM THE TRANSCRIPT · source

  5. “Yeah, so I've been doing this kind of product in UX work for over 30 years. So the work that I'm going to describe here is kind of the culmination or the synthesis of about 30 plus years of that. And so there are a lot of different pieces that I've picked up along the way and recombined and adapted for this. So started out studying anthropology. My first job was working in educational software as an editor. So it was kind of introduction to UX. My introduction to usability testing and went from there to working at a boutique product design innovation studio. So basically consulting with big companies like Alcoa and DuPont and Erickson. And so learning really deep ethnographic research techniques, very big, long, expensive projects, consulting projects. And then from there, I went to Walmart.com. So going from there to walmart.com was really learning to take those techniques and compress them and accelerate them. Walmart is really all about execution, about scale, about”

    2024-12-01 · Lenny's Podcast · Identify your bullseye customer in one day | Michael Margolis (UX Research Partner at Google Ventures) · IDENTIFIED FROM THE TRANSCRIPT · source

  6. “The basic formula the way I think about it is five and three and one. So it's five bullseye customers and three very simple prototypes, and then we conduct those interviews in one day while the whole team is watching and debriefing and kind of thinking about what are the key big takeaways at the end of that. So, step one is”

    2024-12-01 · Lenny's Podcast · Identify your bullseye customer in one day | Michael Margolis (UX Research Partner at Google Ventures) · IDENTIFIED FROM THE TRANSCRIPT · source

  7. “Helps you get really deep in understanding who are those people and understanding what they need. It helps you prioritize the feedback you're getting and it just gets everybody as a team much more aligned on what are we doing and what are we doing first”

    2024-12-01 · Lenny's Podcast · Identify your bullseye customer in one day | Michael Margolis (UX Research Partner at Google Ventures) · IDENTIFIED FROM THE TRANSCRIPT · source

  8. “Every ambitious founder wants to build a product for everybody, but it doesn't start there. Amazon started just selling books or Facebook was just profiles for college students. So a bullseye customer is the very specific subset of your target market who initially is most likely to adopt your product or service.”

    2024-12-01 · Lenny's Podcast · Identify your bullseye customer in one day | Michael Margolis (UX Research Partner at Google Ventures) · IDENTIFIED FROM THE TRANSCRIPT · source