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LSMAccra_ConciergeMVP_SethAkumaniClaimSync
- 2. Co-founder @claimsync Customer Dev’t & Sales Co-organizer, Healthees Africa Sales Director @genkey ABOUT ME
- 3. What is an MVP? What is a Concierge MVP? 3 Examples of Concierge MVPs Assumptions for Concierge MVPs Creating a Concierge MVP WHAT WE WILL COVER
- 4. Find problem/solution fit Find product/market fit STARTUP MAIN GOALS - Business Model - Repeatable sales process -Problem worth solving -MVP
- 6. An MVP is the smallest solution that delivers customer value. (Bonus: And captures customer value) WHAT IS AN MVP?
- 7. “The minimum amount of effort you have to do to complete exactly one turn of the Build-Measure-Learn feedback loop.” - Eric Ries WHAT IS AN MVP? *It is for learning not launching
- 9. A manual service that consists of exactly the same steps customers would go through with your product. “Concierge” (i.e. be the software) WHAT IS A CONCIERGE MVP
- 10. Concierge MVP validates value proposition.
- 11. EXAMPLE: FOOD ON THE TABLE
- 12. • Creates weekly meal plans and grocery lists, and hooks into grocery stores to find best deals on ingredients • MVP was basic service with one store – no software at all • Customers found through interviews in local supermarkets • Signed up 1st customer and dropped off groceries weekly.Collected $9.95 on each visit! TRUE CONCIERGE Complete manual service
- 13. EXAMPLE: ZAPPOS
- 14. THE WIZARD OF OZ Illusion of backend functionality • Nick (Founder) went to local shoe store, took photos of shoes and put them online • Once the orders came in, he went to the store, bought the pair that was ordered, shipped it, handled payments, returns… all manually. • He validated his theory that people will buy shoes online
- 16. ONE USE CASE • Product functioned only for claims generation. • We signed up three hospitals as ‘beta testers’ • Manually filled some claims at hospital site • All claims sent went to our own database! • Used this to learn about what hospitals’ needs. Product works only for one use case
- 17. ASSUMPTIONS FOR A CONCIERGE MVP • Who actually needs/wants to use this product • Is there sufficient demand for this product? • How do they use the product? • Will they pay for the product? • How much revenue can be made? • Is this a solution that can be productized? see Business Assumptions exercise – www.giffconstable.com
- 18. Approach: What is the product hypothesis OR value proposition that will be tested? What does success look like? 1 CREATING A CONCIERGE MVP
- 19. Execution: How would you execute the MVP? (email, phone, in person) How many customers would you engage? Who are they? (names, roles, etc) 2 CREATING A CONCIERGE MVP
- 20. Learnings: What does the customer data confirm OR invalidate about the Concierge MVP? What hypothesis would you test next? 3 CREATING A CONCIERGE MVP
- 21. Do you need to create a Concierge MVP?
Editor's Notes
- Why do we need an MVP anyway?
- So what is an MVP?
- (Bonus: and captures customer value)We’ll see how one of our case studies captures customer value in delivering the Concierge MVP
- An MVP is used to test business hypotheses.
- Concierge is a French word that broadly refers to an employee of an apartment, hotel or office who serves guests. Concierge is about service. Its about personalized service.
- In the same way, the Concierge MVP involves manually delivering the solution, as a service to the customer, to see if the delivery matches the customer’s needs/expectations and makes the customer satisfied!
- Ignoring the possible technical problems and implementation, would the product be attractive to the customers?
- Illusion of backend functionality orinfrastructure. !
- Making your product function for only asingle use case.!
- Ignoring the possible technical problems and implementation, would the product be attractive to the customers?
- Here are some assumptions that can form the basis for creating an MVP
- A great way to map this is to use the business model canvas
- Document your learning's. Show conversations, leads, everything.Review results and make a decision.
- BTW This technique is not just for startups, but for any initiative