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Startup MBA 2.2 - MVPs in practice

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  • 1. mvps in practice http://startupmba.foundercentric.com
  • 2. hello@foundercentric.com foundercentric.com @foundercentric ! Mailing list: http://bit.ly/fc-list
  • 3. FORM & FUNCTION
  • 4. FORM FOLLOWS FUNCTION An objects shape should be based on and exhibit it's primary purpose.
  • 5. Good design is as little design as possible” Dieter Rams “
  • 6. PERFORMANCE VERSUS PREFERENCE The designs that help people perform optimally are often not the same as the designs they find most desirable.
  • 7. PERFORMANCE VERSUS PREFERENCE
  • 8. PERFORMANCE VERSUS PREFERENCE Dvorak
  • 9. HIERARCHY OF NEEDS Based on Maslow's Hierarchy of Needs FUNCTIONALITY RELIABILITY USABILITY PROFICIENCY CREATIVITY
  • 10. THE ANATOMY OF A GOOD MVP
  • 11. WHAT IS AN MVP, REALLY? An MVP is the smallest thing you can build that tests your business.
  • 12. WHAT IS AN MVP, REALLY? An MVP is the smallest thing you can build that tests your business. NO!
  • 13. WHAT IS AN MVP, REALLY? An MVP is an experiment that tests a critical, falsifiable hypothesis of your business.
  • 14. DESIGNING A GOOD EXPERIMENT MVP customers learnin’ !
  • 15. SO, WHAT IS AN MVP? MVPs are just a tool to conduct fast, measurable customer learning.
  • 16. THREE OF MVPs TYPES
  • 17. THREE METHODS OF LEARNING Exploration
  • 18. Pitch THREE METHODS OF LEARNING
  • 19. Concierge THREE METHODS OF LEARNING
  • 20. AN MVP IS CUSTOMER VALIDATED LEARNING The MVP is just the vehicle. Decide what you need to test and choose your weapon.
  • 21. EXPLORATION 1
  • 22. “OK...
  • 23. “OK... I WANT TO CREATE AN ONLINE MARKET PLACE
  • 24. “OK... I WANT TO CREATE AN ONLINE MARKET PLACE FOR FINE MARBLE SCULPTURES”
  • 25. LET’S DESIGN A TEST!
  • 26. LET’S DESIGN A TEST!
  • 27. LET’S DESIGN A TEST!
  • 28. EXPLORE IS GREAT WHEN • You have an early idea • You don’t know what budget you belong to • You don’t know how to segment your customers • You don’t know how consistent your problem is
  • 29. PITCH 2
  • 30. A PITCH MVP IS BASICALLY A LANDING PAGE
  • 31. A PITCH MVP IS “BASICALLY” A LANDING PAGE
  • 32. WHAT ARE MOST LANDING PAGES TESTING? Usually, just if your copy describes a pain or problem that potential customers have
  • 33. If people have that problem? If people will pay for it? If a segment identifies with that problem? WHAT DO YOU ACTUALLY WANT TO TEST?
  • 34. “AND WHAT IF MY PRODUCT ISN’T AN APP?”
  • 35. PITCH IS GREAT WHEN... • You have an idea when / how people will buy from you • You have an idea where customers would look for you • You have an action you want to measure for
  • 36. CONCIERGE 3
  • 37. BOB
  • 38. !
  • 39. EMAIL
  • 40. CONCIERGE IS GREAT WHEN... • Confident on your customer segment • Building a full solution is a large, uncertain investment • You have an idea for a solution, but you’re not sure how to execute it
  • 41. PROTOTYPE 4
  • 42. A PROTOTYPE MVP IS THE “FUCK IT, LET’S TRY IT” OF MVPS Perfect for when your company is creating novel value.
  • 43. PROTOTYPE IS GREAT WHEN... • You have a novel solution that needs testing • The other three methods of learning can’t execute the experiment
  • 44. A WARNING LABEL A prototype MVP is still a throwaway experimentation tool. Not your first version!
  • 45. THE WRAP UP • MVPs are about designing falsifiable experiments, not making first versions • Choose the tool that best tests your hypothesis • More often then not, that tool isn’t a landing page • Keep them quick, sloppy, and disposable.