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Mvp development
 

Mvp development

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MVP in the context of Lean Startup Machine workshops.

MVP in the context of Lean Startup Machine workshops.
Attent a workshop : www.leanstartupmachine.com

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    Mvp development Mvp development Presentation Transcript

    • Building a Successful MVP
    • What You Will Learn•  What is an MVP?•  What are the different types of MVPs?•  What does the MVP actually test?•  Examples of “good” MVPs•  Individual Assessments
    • What is an MVP?“The minimum amount of effort you haveto do to complete exactly one turn of theBuild-Measure-Learn feedback loop.” - Eric Ries
    • Don’t Be Misled…MVP ≠ a functioning product
    • In Simpler Terms MVP = Experiment (Think: Minimum Viable Experiment)
    • Goals of MVP•  Maximum validated learning with minimum effort.•  Minimum opportunity cost.•  Rapid testing and iteration.
    • When do MVPs Get Created?1. Problem or Solution Hypothesis2. Make a Prediction3. Outline Assumptions4. Identify Riskiest Assumption ✔  5. Define Success Criterion
    • Riskiest AssumptionTuesday, February 28, 2012
    • Where do I Begin?•  Not all MVPs are created equal.•  MVP most appropriate… i.  For your business model ii.  Both minimum and viable iii.  Learn whether it succeeds or fails
    • Types of MVPs1.  Problem Exploration2.  Product Pitch3.  Concierge(in order of increasing opportunity cost)
    • Validation1.  Success criterion.2.  “Signal.”3.  “Foaming at the mouth.”
    • Early Adopters“Foaming at the Mouth” means:1.  Have the problem2.  Aware they have the problem3.  Searched for a solution4.  Hacked a solution5.  Paid for a solution
    • Problem ExplorationAn interaction focused on customer’sproblems to understand past behaviorand urgency.
    • Problem Exploration Opportunity Cost: Very Low
    • Examples of Problem Exploration1. Scene of the CustomerHighest geographic density of yourcustomer use case.
    • Scene of the Customer
    • Examples of Problem Exploration2. DoppelgangerSomeone already executing on your idea.
    • Doppelganger
    • Examples of Problem Exploration3. Conversation StarterGetting your customer’s attention andactivating their imagination.
    • Conversation Starter
    • Examples of Problem Exploration4. Menu of FeaturesFake features to ascertain which ones thecustomer is most interested in.
    • Menu of Features
    • Product PitchExchange of product for some form ofcurrency: time, money, or work.Tests the Riskiest Assumption associatedwith your Solution Hypothesis.
    • Product Pitch Opportunity Cost: Very Low à Low
    • Examples of Product Pitch1. Decreasing DiscountDecrease the discount over time for newsales.Think: Invalidation = discount rejected
    • Examples of Product Pitch Now just $0.99!
    • Examples of Product Pitch Now just $1.29!
    • Examples of Product Pitch2. InnovatorLearn innovators’ tactics and see if youcan productize them into a solution.
    • Examples of Product Pitch3. Better AlternativeGet the customers of the existing marketleader.
    • Examples of Product Pitch4. MetaHave your customer design the firstversion of your product.
    • Meta
    • ConciergeManually delivering on the solution, as aservice to the customer, to see if thedelivery matches the customer’sexpectations and makes them happy.
    • Concierge Opportunity Cost: Medium
    • Examples of Concierge1. One Use CaseMaking your product function for only asingle use case.
    • One Use Case
    • Examples of Concierge2. Real Life SimulationIllusion of backend functionality orinfrastructure. Think: Validation = Reason to Build Out
    • Real Life Simulation
    • Real Life Simulation
    • Real Life Simulation
    • Real Life Simulation
    • InteractiveWhat MVPs have you already created?
    • Remember…Focus on testing your Riskiest Assumption
    • Thanksryan@leanstartupmachine.com @ryanmaccarrigan