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Minimum Viable Product How to mitigate new product development risk and better focus your efforts
My Background <ul><li>Videogame producer/creative director for 15 years </li></ul><ul><li>Independent consultant for last ...
CPG Product Development <ul><li>Designer creates concept </li></ul><ul><li>Producer pitches to Executives </li></ul><ul><l...
What is MVP? <ul><li>Minimum Viable Product </li></ul><ul><ul><li>Part of the “Lean Startup” methodology espoused by Eric ...
More In-Depth <ul><li>In early days, all you’ll get are early adopters </li></ul><ul><li>Accept this, and use it to your b...
Theme Park… <ul><li>CPG – build whole theme park, then open </li></ul><ul><li>MVP – build one ride, open early, iterate </...
How Zynga Uses MVP <ul><li>From Mark Pincus, CEO & Founder </li></ul><ul><li>Create a 5-word pitch for a new product or fe...
PMF is the #1 goal of MVP <ul><li>Don’t scale before PMF (Product Market Fit) </li></ul><ul><ul><li>CPG scale = ramping up...
Myths of MVP <ul><li>Means the same as “cheap” </li></ul><ul><li>MVP only for consumer internet companies </li></ul><ul><l...
Further Research <ul><li>Eric Ries’ Startup Lessons Learned  ( http :// www.startuplessonslearned.com )   </li></ul><ul><l...
Q & A <ul><li>My contact details: </li></ul><ul><li>Adrian Crook </li></ul><ul><li>www.AdrianCrook.com </li></ul><ul><li>[...
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Minimum viable product done

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Transcript of "Minimum viable product done"

  1. 1. Minimum Viable Product How to mitigate new product development risk and better focus your efforts
  2. 2. My Background <ul><li>Videogame producer/creative director for 15 years </li></ul><ul><li>Independent consultant for last 3 years </li></ul><ul><li>Led development of console, PC and web games </li></ul><ul><li>Licensed products, original IP, TV, etc </li></ul>
  3. 3. CPG Product Development <ul><li>Designer creates concept </li></ul><ul><li>Producer pitches to Executives </li></ul><ul><li>Executives greenlight concept </li></ul><ul><li>Team staffed up, production underway </li></ul><ul><li>12 months into production, marketing does a focus group </li></ul><ul><li>24 months after start, product is released </li></ul><ul><li>Finally chat with players via XBL, see what they like! </li></ul><ul><li>All or nothing approach </li></ul><ul><li>Feedback comes too late </li></ul>
  4. 4. What is MVP? <ul><li>Minimum Viable Product </li></ul><ul><ul><li>Part of the “Lean Startup” methodology espoused by Eric Ries </li></ul></ul><ul><ul><li>Eric Ries’ definition: </li></ul></ul><ul><ul><li>The minimum viable product is that version of a new product which allows a team to collect the maximum amount of validated learning about customers with the least effort. </li></ul></ul><ul><ul><li>Big vision meets rapid, metrics-based iteration </li></ul></ul>
  5. 5. More In-Depth <ul><li>In early days, all you’ll get are early adopters </li></ul><ul><li>Accept this, and use it to your benefit </li></ul><ul><li>What is minimum amount of work needed to engage with these customers? </li></ul><ul><li>Could simply be a mockup or webpage </li></ul><ul><li>Early adopters are smart enough to “fill in the gaps” – they don’t need full product to tell you if it meets a market need </li></ul>
  6. 6. Theme Park… <ul><li>CPG – build whole theme park, then open </li></ul><ul><li>MVP – build one ride, open early, iterate </li></ul><ul><li>Or an even slimmer MVP… </li></ul><ul><ul><li>Take reservations for rides, then build most popular ride! </li></ul></ul>
  7. 7. How Zynga Uses MVP <ul><li>From Mark Pincus, CEO & Founder </li></ul><ul><li>Create a 5-word pitch for a new product or feature </li></ul><ul><li>Put it up on a high traffic webpage </li></ul><ul><li>If it gets clicks, collect the emails of interested customers </li></ul><ul><li>Build a ‘ghetto’ version of the product or feature </li></ul><ul><li>Test everything </li></ul><ul><li>Iterate constantly </li></ul><ul><li>Source: http://grattisfaction.com/2010/01/how-zynga-does-customer-development-minimum-viable-product/ </li></ul>
  8. 8. PMF is the #1 goal of MVP <ul><li>Don’t scale before PMF (Product Market Fit) </li></ul><ul><ul><li>CPG scale = ramping up team </li></ul></ul><ul><ul><li>Online game scale = team, infrastructure, support, additional funding, etc. </li></ul></ul><ul><li>Without it, attracting interest from partners and investors will be harder/lower value </li></ul>
  9. 9. Myths of MVP <ul><li>Means the same as “cheap” </li></ul><ul><li>MVP only for consumer internet companies </li></ul><ul><li>No vision needed – just use data! </li></ul><ul><li>Source: http://www.startuplessonslearned.com/2010/04/five-myths-about-lean-startup.html </li></ul>
  10. 10. Further Research <ul><li>Eric Ries’ Startup Lessons Learned ( http :// www.startuplessonslearned.com ) </li></ul><ul><li>Andrew Chen’s Minimum Desirable Product Presentation ( http://andrewchenblog.com/2010/04/07/minimum-desirable-product-and-lean-startups-slides-included ) </li></ul><ul><li>Google “Minimum Viable Product” </li></ul>
  11. 11. Q & A <ul><li>My contact details: </li></ul><ul><li>Adrian Crook </li></ul><ul><li>www.AdrianCrook.com </li></ul><ul><li>[email_address] </li></ul><ul><li>Twitter, Facebook, LinkedIn URLs on my site </li></ul>
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