Ash Maurya, Running Lean Presentation at Lean Startup SXSW

MVPHashtag:#leanstartup ASH MAURYA @ashmaurya ashmaurya.com spark59.com

IDEASLEARN BUILD DATA PRODUCT MEASURE

IDEASLEARN BUILD Customer Interviews Demos DATA PRODUCT Teaser Pages MEASURE Smoke Tests Release 1.0 Concierge MVP Wizard of Oz MVP

An MVP is the smallest solutionthat delivers customer value.

IDEASLEARN BUILD Customer Interviews Demos DATA PRODUCT Teaser Pages MEASURE Smoke Tests Release 1.0 Concierge MVP Wizard of Oz MVP

An MVP is the smallest solutionthat delivers customer value.(BONUS: And captures customervalue.)

AGENDA 01 Finding a problem worth solving 02 Deﬁning the MVP 03 Maximizing for learning

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Awesome Solution We built it and we didn’t expect it to be a company,we were just building this because we thought it was awesome. - Mark Zuckerberg

Your “solution” is NOT theproduct Solution

Your business model is theproductProblem Solution Unique Unfair Customer Value Advantage Segments Proposition Key Metrics ChannelsCost Structure Revenue Streams

Problem Interviews Workshops BookBlogTime

PROBLEM CUSTOMER SEGMENTSEXISTING EARLYALTERNATIVES ADOPTERS

PROBLEM CUSTOMER SEGMENTS 1. Hard to measure real progress. 2. Drown in a sea of numbers. 3. Metrics can’t tell you why.EXISTING EARLYALTERNATIVES ADOPTERS

PROBLEM CUSTOMER SEGMENTS 1. Hard to measure real progress. 2. Drown in a sea of numbers. Software Companies 3. Metrics can’t tell you why.EXISTING EARLYALTERNATIVES ADOPTERS

PROBLEM CUSTOMER SEGMENTS 1. Hard to measure real progress. 2. Drown in a sea of numbers. Software Companies 3. Metrics can’t tell you why.EXISTING EARLYALTERNATIVES ADOPTERS 1. Homegrown 2. Analytics & CRM software

PROBLEM CUSTOMER SEGMENTS 1. Hard to measure real progress. 2. Drown in a sea of numbers. Software Companies 3. Metrics can’t tell you why.EXISTING EARLYALTERNATIVES ADOPTERS 1. Homegrown SaaS products 2. Analytics & CRM software with > 20 sign-ups/day

SOLUTION

SOLUTION 1. Pirate metrics + cohorts 2. Lifecycle messaging 3. Actionable visualization

Simple to understand.Hard to implement so it’ssimple.

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You don’t need code to test avision.

1. Are we making progress? -WHAT

1. Are we making progress? -WHAT2. What caused the change? -WHY

1. Are we making progress? -WHAT2. What caused the change? -WHY3. How do we improve? - HOW

June Acquisition 1000 (100%) Activated 800 (80%) Retention 500 (50%) Revenue 100 (10%)Pros: Simple and visual

May June Acquisition Acquisition 900 (100%) 1000 (100%) Activated Activated 750 (83%) 900 (90%) Retention Retention 500 (56%) 500 (50%) Revenue Revenue 95 (11%) 100 (10%)Cons: Hard to see what changed.

May JuneActivation Activation900 (100%) 1000 (100%)Activated Activated750 (83%) 900 (90%)Retention Retention500 (56%) 500 (50%) Revenue Revenue 95 (11%) 100 (10%)

MAY JUNE 900 signed-up 1000 signed-upACTIVATION RATE 83% 90%RETENTION RATE 56% 50% PAID 11% 10% 0 20 40 60 80 100 0 20 40 60 80 100

JUNE 1000 signed-upACTIVATION RATE 90%RETENTION RATE 50% PAID 10% 0 20 40 60 80 100

Days not weeks ormonths.

Solution Interviews Build Demo Problem Interviews Workshops BookBlogTime

A ttention I nterest D esire A ction

01 Nail the problem.

02 Deliver a compelling demo.

PROSPECTS / USERS CUSTOMERSStage 1 100 10 High-touch, Market Risk, QualitativeStage 2 1,000 100Stage 3 10,000 1,000 Self-serve, Technical Risk,Stage 4 100,000 10,000 Quantiative 10X Product Launch

03 Unintentional use of prizing and scarcity.

Position your MVP as the prize.

04 Don’t lower sign-up friction. Raise it.

Qualify early adopters.

EXISTINGALTERNATIVES 1. Homegrown SaaS products 2. Analytics & CRM software with > 20 sign-ups/day REVENUE STREAMS 30-day trial @ $150-200/mo

05 Use price anchoring.

$200/mo < 4 developerhours /mo

Could you build a similarhomegrown system spendinghalf a day/month?

06 Make a big promise you plan on keeping.

Deliver value or go home.

THANKS! ASH MAURYA ashmaurya.com @ashmaurya spark59.com

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Ash Maurya, Running Lean Presentation at Lean Startup SXSW

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