MatMaX

MatMaX is a Maturity Matrix: a metrics designed as a work tool for the startup entrepreneur or innovation project manager.

MatMaX helps quantify the maturity level of a product innovation project in two dimensions:

The Technical Readiness Level (TRL)
The Commercial Readiness Level (CRL)

Position your project or startup onto the matrix grid, using the levels definitions. Identify:

your current objective maturity status
the next levels to be reached
the actions to be taken to reach them

MatMaX is a powerful dynamic tool enabling you, depending on the position in the matrix, to identify and activate expertise and coaching in:

R&D and product management
Marketing & Industrial design
Sales & Business development
Organisation & Governance
Financing
Intellectual property & Legal
Human resources...

TRL9 - Mass deployed and debugged product

A structured process is in place for collecting users feedbacks
The collected products faults (bugs) have been identified and prioritized
The identified product faults have been solved

TRL8 - Commercial product available and qualified

The product development is finalized.
The product is tested and validated to the required 'commercial' quality level.
The production process and associated resources are defined and implemented.
The product has been commercially launched.
A product maintenance process has been defined and implemented.

TRL7 - Product prototype in operational environment (field proto)

The product has been developped to a prototype stage enabling its use and test in an operational environment at a client site (field proto).
The prototypes have been deployed at a series of 'alpha' customers/partners and collect their usage feedback (first paying product/MVP).

TRL6 - Product prototype in simulated environment (factory proto)

An agile product development process has been set-up.
Rapid prototyping methods are used to collect early market feedback about the product.
The elementary development tasks and their priorities have been identified and defined.
The development roadmap has been defined with a technical milestones calendar.
The necessary development ressources have been identified and secured. An agile planning is in use with development in 'sprints' (e.g. SCRUM).
The first product prototype has been developped and is used for demonstrations in a simulated environment (e.g. with simulated inputs and outputs).

TRL5 - Demonstrator of all critical functions in a simulated environment

The overall system architecture to be used for the final product has been defined.
The components have been assembled into a realistic functional (laboratory) system. In particular the interfaces between components have been defined and documented.
The system functions and performances have been validated in the real target market application, and in a representative (simulated) environment.
The 'Functional market requirements' of the target product have been defined on the basis of actual market demands. User stories and usage scenarios are defined.

TRL4 - Lab demonstrator of integrated solution/system

An «Ad-hoc» functional system has been assembled from the individual components.
The complete system functions have been validated through experiments and its performances have been characterized.

TRL3 - Lab proof of concept and feasibility analysis of individual components

The individual components of the solution have been validated through experiments.
The components performances have been characterized and the components have been developed till they are ready for use in the targetted application.

TRL2 - Concepts formulated

The invention is validated on a theoretical basis.
The intellectual property and the possibility to apply for patents has been investigated.

TRL1 - Basic principles observed and described

The idea is described in general terms.
There is a description on how the idea differentiate from the existing.
The possible added value of the idea is clearly expressed.
The key technical hypotheses to be validated are identified.

CRL9 - Validate complete business model and prepare to scale

You have validated that the global business model is profitable and scalable (e.g. verified that the sales are repeatable and scalable).
Pivot if this is not the case: back to customer discovery (CRL<5).
If the business model is validated, prepare for growth by tuning the cost and pricing model for larger volumes, defining a market plan for growth, identifying the organizational and financial needs. This initiates the transition to the «scale-up» phase of the company.

CRL8 - Achieve general sales at a profit

Using the early customers as reference, you sell to a broader range of customers in the target segment.
You got a better view of the operational costs and of the real value for the customers.
You have validated the pricing model and verified that you can sell at a profit.

CRL7 - Achieve first sales

You have found visionary customers who will buy your product for real money and will be willing to become «»product ambassadors».
You try to sell at standard price without early adopter discount to verify the real value of the offer.
Early customers get a time-to-market advantage in exchange for their risk-taking.
You are selling to 3 to 5 visionary customers.
You get early orders from channel and service partners.

CRL6 - Get ready to sell

You have defined the positioning of the company and products compared to competition, and can explain the uniqueness of the offer.
You have prepared sales material and collaterals: this should include a clear explanation of the global value proposition for the targeted customers as well as description of the constituting products and services.
You have a price list and have developed a preliminary distribution channel plan.
You have a preliminary sales roadmap with a list of customer leads, and how to access them.

CRL5 - Achieve Product-Market fit

Based on the validated market needs and value proposition, you have selected the target segment(s) to be addressed, and defined the product specifications of a «Minimum Viable Product» (MVP).
You have verified that the MVP answers the most important customer needs of the target segment.
You have verified that real value can be extracted in the form of revenue.
You have quantified the revenues and costs estimates and verified that there is a profitable business model.

CRL4 - Validate the Solution hypotheses (Value proposition design)

You have got «out of the building» to test, through direct contact with the customers, the proposed solution to the 'pains & gains' identified in the previous step.
You have checked that the solution solves the pains ('pain reliever') or enables gains ('gains creator').
You have an answer to the question: «What is the value in money of solving these pains and enabling these gains?». This testing phase can be helped by a visual or physical 'mock-up' of the proposed solution (in the form of presentation, pictures, ...) and demo prototypes of various levels of maturity.
If necessary, modify the hypotheses (proposed solution) and re-test.

CRL3 - Validate the Market hypotheses

You have got «out of the building» to test the Market-related hypotheses through direct contact with the end customers in the selected segments.
You know who are the potential customers (the buyers), what are their tasks, the obstacles in performing their tasks (their 'pains') and what could enable them to reach new goals (their 'gains').
You have identified potential partners who can have interest in helping the project evolve (ideally future early customers).
Modify hypotheses if necessary and re-test.

CRL2 - Analyze the market

You have a good understanding of the market structure and segmentation.
You have estimates of the market size and growth.
You have identified the market eco-systems of actors, and who are the potential partners and competitors.
You have identified the market value chain and the position of the intended business in this chain (in particular, which proportion of price paid by the end-customer can be captured).
You have selected one or a small number of segments (<=3) as commercial targets.
You have identified a list of customers to be approached in the next phases.

CRL1 - Identify the hypotheses

Using the Business Model Canvas, or a similar framework, you have identified all the hypotheses of the business model. In particular, you have identified the possible markets segments and their needs (pains/gains), how the envisaged value proposition answers the needs, and how the revenue is generated.

To reach TRL9

Implement a structured process for collecting users feedbacks.
Identify and prioritize the collected products faults (bugs).
Solve identified product faults.

To reach TRL8

Finalize the product development.
Test and validate the product to the required 'commercial' quality level.
Define and implement the production process and associated resources.
Launch the product commercially.
Define and implement a product maintenance process.

To reach TRL7

Develop the product to a prototype stage enabling its use and test in an operational environment at a client site (field proto).
Deploy the prototypes at a series of 'alpha' customers/partners and collect their usage feedback (first paying product/MVP).

To reach TRL6

Set-up of an agile product development process.
Use rapid prototyping methods to collect early market feedback about the product.
Identify and define the elementary development tasks and their priorities.
Define the development roadmap with technical milestones calendar. Identify the necessary development ressources. Use agile planning with development in «sprints» (e.g. SCRUM).
Technically develop the first product prototype and demonstrate it in a simulated environment (e.g. with simulated inputs and outputs).

To reach TRL5

Define the overall system architecture to be used for the final product.
Assemble the components into a realistic functional (laboratory) system. In particular, define and document the interfaces between components.
Validate the system functions and performances in the real target market application, and in a representative (simulated) environment.
Define the 'Functional market requirements' of the target product on the basis of actual market demands. Define user stories and usage scenarios.

To reach TRL4

Assemble an «ad-hoc» functional system from the individual components.
Validate through experiment the complete system functions and characterize its performances.

To reach TRL3

Validate throuh experiments the individual components of the solution.
Characterize the components performances and develop them till they are ready for use in the targetted application.

To reach TRL2

Validate the invention on a theoretical basis.

nvestigate intellectual property and the possibility to apply for patents.

Scale-up.

To reach CRL9

Validate that the global business model is profitable and scalable (e.g. verify that the sales are repeatable and scalable).
Pivot if this is not the case: back to customer discovery (CRL<5).
If the business model is validated, prepare for growth by tuning the cost and pricing model for larger volumes, defining a market plan for growth, identifying the organizational and financial needs. This initiates the transition to the «scale-up» phase of the company.

To reach CRL8

Using the early customers as reference, sell to a broader range of customers in the target segment.
Get a better view of the operational costs and of the real value for the customers.
Validate the pricing model and verify that you can sell at a profit.

To reach CRL7

Find visionary customers that will buy your product for real money and will be willing to become «»product ambassadors».
Try to sell at standard price without early adopter discount to verify the real value of the offer.
Early customers get a time-to-market advantage in exchange for their risk-taking.
Sell to 3 to 5 visionary customers.
Get early orders from channel and service partners.

To reach CRL6

Define the positioning of the company and products compared to competition, and explain the uniqueness of the offer.
Prepare sales material and collaterals: this should include a clear explanation of the global value proposition for the targeted customers as well as descrition of the constituting products and services.
Define the price list. Devevelop a preliminary disctribution channel plan.
Develop a preliminary sales roadmap with list of customer leads, and how to access them.

To reach CRL5

Based on the validated market needs and value proposition, select the target segment(s) to be addressed, and define the product specifications of a «Minimum Viable Product» (MVP).
Verify that the MVP answers the most important customer needs of the target segment.
Verify that real value can be extracted in the form of revenue.
Quantify the revenues and costs estimates and verify that there is a profitable business model.

To reach CRL4

«Get out of the building» to test, through direct contact with the customers, the proposed solution to the 'pains & gains' identified in the previous step.
Check if the solution solves the pains ('pain reliever') or enables gains ('gains creator').
What is the value in money of solving these pains and enabling these gains? This testing phase can be helped by a visual or physical 'mock-up' of the proposed solution (in the form of presentation, pictures, ...) and demo prototypes of various levels of maturity.
If necessary, modify the hypotheses (proposed solution) and re-test.

To reach CRL3

«Get out of the building» to test the Market-related hypotheses through direct contact with the end customers in the selected segments.
Get to know who are the customers (the buyers), what are their tasks, the obstacles in performing their tasks (their 'pains') and what could enable them to reach new goals (their 'gains').
At this stage, identify potential partners that can have interest in helping the project evolve (ideally future early customers).
Modify hypotheses if necessary and re-test.

To reach CRL2

Get an understanding of the market structure and segmentation.
Get estimates of the market size and growth.
Identify the market eco-systems of actors, and who are the potential partners and competitors.
Identify the market value chain and the position of the intended business in this chain (in particular, which proportion of price paid by the end-customer can be captured).
Select one or a small number of segments (<=3) as commercial targets.
Identify a list of customers to be approached in the next phases.

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