How to Build Your MVP

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How to Build Your MVP

  1. 1. Winter Xcelerate WorkshopHow To Build Your MVP for startup success Abby Fichtner Hacker Chick Harvard Innovation Lab http://HackerChick.com
  2. 2. your startup isn’t a business it’s a hobbyXcelerate - @HackerChick @Justin_Wilcox
  3. 3. your startup hobby business fun obsession cost lots $Xcelerate - @HackerChick @Justin_Wilcox
  4. 4. your startup hobby business fun cost opportunity obsession $150K salary cost lots $Xcelerate - @HackerChick @Justin_Wilcox
  5. 5. your startup hobby business fun obsession profit $ cost lots $Xcelerate - @HackerChick @Justin_Wilcox
  6. 6. is your startup going to be business or a hobby ?Xcelerate - @HackerChick
  7. 7. MVP Goal VISION REALITYXcelerate - @HackerChick
  8. 8. Xcelerate - @HackerChick
  9. 9. Xcelerate - @HackerChick
  10. 10. Xcelerate - @HackerChick Andrew Mason, CEO of Groupon (NY Tech Meetup)
  11. 11. you‘re way too dumb to figure out whether your idea is goodXcelerate - @HackerChick Andrew Mason, CEO of Groupon (NY Tech Meetup)
  12. 12. (MVP) Minimum Viable ProductXcelerate - @HackerChick
  13. 13. MVPWhat’s the smallest thing I can do… business vs hobby ?Xcelerate - @HackerChick
  14. 14. Xcelerate - @HackerChick
  15. 15. Xcelerate - @HackerChick
  16. 16. COOL?Xcelerate - @HackerChick
  17. 17. Step #1 Find a problem worth solvingXcelerate - @HackerChick
  18. 18. We had an idea for a new product. We went off & built it, put it on our website.Xcelerate - @HackerChick
  19. 19. We had an idea for a new product. We went off & built it, put it on our website. not a single person clicked thruXcelerate - @HackerChick
  20. 20. We had an idea for a new product. We went off & built it, put it on our website. not a single person clicked thru What did we learn from that?Xcelerate - @HackerChick
  21. 21. We had an idea for a new product. We went off & built it, put it on our website. not a single person clicked thru Was there a faster way to learn that?Xcelerate - @HackerChick
  22. 22. Xcelerate - @HackerChick
  23. 23. Xcelerate - @HackerChick
  24. 24. Xcelerate - @HackerChick
  25. 25. Xcelerate - @HackerChick
  26. 26. Xcelerate - @HackerChick
  27. 27. [MVP Tool] Landing PagesXcelerate - @HackerChick
  28. 28. Xcelerate - @HackerChick
  29. 29. Xcelerate - @HackerChick
  30. 30. Xcelerate - @HackerChick
  31. 31. Crowd Testing $5 1.4% $10 1.7% sample: 5,549Xcelerate - @HackerChick @Justin_Wilcox, Bounce pre-orders
  32. 32. [MVP Tool] KickStarterXcelerate - @HackerChick
  33. 33. Xcelerate - @HackerChick
  34. 34. [MVP Tool] VideoXcelerate - @HackerChick
  35. 35. Know where your target audience hangs out & speak to them in an authentic wayXcelerate - @HackerChick @drewhouston, Startup Lessons Learned 2010
  36. 36. VC: “There are a million cloud storage startups!” Drew: “Do you use any of them?” VC: “No” Drew: “…”Xcelerate - @HackerChick @drewhouston, Startup Lessons Learned 2010
  37. 37. Photo Sharing App Recipe App Discover Local Events Group Travel Planning Facebook for <happy people/smart kids/psychos/dogs/travel agents/astronauts…>Xcelerate - @HackerChick
  38. 38. Photo Sharing App Recipe App Discover Local Events Group Travel Planning Facebook for <happy people/smart kids/psychos/dogs/travel agents/astronauts…>Xcelerate - @HackerChick
  39. 39. [MVP Tool] Business Model CanvasXcelerate - @HackerChick http://LeanCanvas.com
  40. 40. Brainstorm Customer Problem anyone who cooks can’t find recipesXcelerate - @HackerChick
  41. 41. Brainstorm Customer Problem anyone who cooks can’t find recipes amateur gourmet chefs want to make fabulous food for friends & familyXcelerate - @HackerChick
  42. 42. Brainstorm Customer Problem anyone who cooks can’t find recipes amateur gourmet chefs want to make fabulous food for friends & family dieters need to lose weightXcelerate - @HackerChick
  43. 43. Brainstorm Customer Problem anyone who cooks can’t find recipes amateur gourmet chefs want to make fabulous food for friends & family in college dieters ^ need to lose weightXcelerate - @HackerChick
  44. 44. Xcelerate - @HackerChick
  45. 45. Xcelerate - @HackerChick
  46. 46. Xcelerate - @HackerChick
  47. 47. Xcelerate - @HackerChick
  48. 48. [MVP Tool] Customer InterviewXcelerate - @HackerChick
  49. 49. Xcelerate - @HackerChick
  50. 50. What are the Top 3 Problems?Xcelerate - @HackerChick
  51. 51. How are they solving those problems today?Xcelerate - @HackerChick
  52. 52. Step #2 Find a solution that resonatesXcelerate - @HackerChick
  53. 53. [MVP Tool] Concierge Service (AKA Wizard of Oz)Xcelerate - -@HackerChick Xcelerate @HackerChick
  54. 54. Xcelerate - @HackerChick
  55. 55. Concierge TestXcelerate - @HackerChick
  56. 56. Xcelerate - @HackerChick
  57. 57. Xcelerate - -@HackerChick Xcelerate @HackerChick
  58. 58. remember to… demosolutions with target customers before you buildXcelerate - @HackerChick
  59. 59. Xcelerate - @HackerChick
  60. 60. [MVP Tool] MashupXcelerate - @HackerChick
  61. 61. Step #3…n-1Xcelerate - @HackerChick
  62. 62. Problem/Solution FitXcelerate - @HackerChick
  63. 63. Step #n launch! when you have a quantum of utilityXcelerate - @HackerChick @paulg, Y Combinator
  64. 64. prioritize for… speed & excitementXcelerate - @HackerChick @paulg, Y Combinator
  65. 65. but don’t be…Xcelerate - @HackerChick
  66. 66. but don’t be… too minimalXcelerate - @HackerChick
  67. 67. Some MVP Tools 1. Business Model Canvas 2. Customer Interviews 3. Landing Pages 4. Kickstarter 5. Videos 6. Concierge Service 7. Existing Tools Mashup (WordPress, Wufoo, Google Forms, etc.) 8. Your imaginationXcelerate - @HackerChick
  68. 68. Learn More Eric Ries @EricRies http://startuplessonslearned.com/ Steve Blank @sgblank http://steveblank.com/ Ash Maurya @ashmaurya http://ashmaurya.com/ Abby FichtnerXcelerate - @HackerChick

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