Lean Startup Dojo: MVP


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  • You’re selling the vision and delivering the minimum feature set to visionaries not everyone.
  • Lean Startup Dojo: MVP

    1. 1. Lean Startup: Minimum Viable Products December 1, 2010 Rich Collins & Patrick Vlaskovits with input from Eric Ries
    2. 2. Today’s Agenda <ul><li>What is an MVP? </li></ul><ul><li>Why do we use them? </li></ul><ul><li>MVP Myths </li></ul><ul><li>Examples </li></ul><ul><li>Exercises </li></ul>
    3. 3. Similar Ideas: Quantum of Utility <ul><li>“ We advise startups to launch when they've added a quantum of utility : when there is at least some set of users who would be excited to hear about it, because they can now do something they couldn't do before.” </li></ul><ul><li>-Paul Graham </li></ul>
    4. 4. Similar Ideas: Minimum Feature Set <ul><li>“ The reality is that the minimum feature set is 1) a tactic to reduce wasted engineering hours (code left on the floor) and 2) to get the product in the hands of early visionary customers as soon as possible.” </li></ul><ul><li>-Steve Blank </li></ul>
    5. 5. Definition of MVP <ul><li>“… 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><li>-Eric Ries </li></ul>
    6. 6. Why MVP? <ul><li>Avoid building things nobody actually wants. </li></ul>
    7. 7. Build-Measure-Learn Loop
    8. 8. MVP Myths <ul><li>Minimalism may not be the goal. </li></ul><ul><li>Aesthetics/design may matter. </li></ul><ul><li>Not “release early, release often”! </li></ul><ul><li>Not &quot;one and done” </li></ul>
    9. 9. Iteration based on Validated Learning
    10. 10. Gall’s Law <ul><li>A complex system that works is invariably found to have evolved from a simple system that worked. </li></ul><ul><li>A complex system designed from scratch never works and cannot be made to work. You have to start over, beginning with a working simple system. </li></ul><ul><li>**&quot;A simple system may or may not work.&quot; </li></ul>
    11. 11. Minimum is judgment call. It’s not always cheap.
    12. 12. MVP Examples from “Real World” <ul><li>Landing Page Smoke Tests (AdWords, Craigslist, Bill Gates, Dropbox) </li></ul><ul><li>In-house built solution – Ovia </li></ul><ul><li>Screenshots & LOIs (Sell the vision) </li></ul><ul><li>Kickstarter Campaigns </li></ul><ul><li>Wizard of Oz </li></ul><ul><li>Links to nowhere (Zynga) </li></ul><ul><li>Screencasts </li></ul><ul><li>Infomercial Tests </li></ul>
    13. 13. Exercise: Hypotheses <ul><li>Write down all of the hypotheses that you'd like to test with a Minimum Viable Product. Prioritize them from most to least risky to the success of your startup </li></ul>
    14. 14. Exercise: Tests <ul><li>For the hypotheses with the highest priority, create some tests that could falsify them. </li></ul>
    15. 15. Exercise: MVP Series <ul><li>Consider the possible outcomes of the tests. What follow on tests could you create to gain further insight into the hypotheses. </li></ul>
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