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Lean Startup Dojo: MVP

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  • You’re selling the vision and delivering the minimum feature set to visionaries not everyone.
  • Transcript

    • 1. Lean Startup: Minimum Viable Products December 1, 2010 Rich Collins & Patrick Vlaskovits with input from Eric Ries
    • 2. Today’s Agenda
      • What is an MVP?
      • Why do we use them?
      • MVP Myths
      • Examples
      • Exercises
    • 3. Similar Ideas: Quantum of Utility
      • “ 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.”
      • -Paul Graham
    • 4. Similar Ideas: Minimum Feature Set
      • “ 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.”
      • -Steve Blank
    • 5. Definition of MVP
      • “… that version of a new product which allows a team to collect the maximum amount of validated learning about customers with the least effort.”
      • -Eric Ries
    • 6. Why MVP?
      • Avoid building things nobody actually wants.
    • 7. Build-Measure-Learn Loop
    • 8. MVP Myths
      • Minimalism may not be the goal.
      • Aesthetics/design may matter.
      • Not “release early, release often”!
      • Not "one and done”
    • 9. Iteration based on Validated Learning
    • 10. Gall’s Law
      • A complex system that works is invariably found to have evolved from a simple system that worked.
      • 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.
      • **"A simple system may or may not work."
    • 11. Minimum is judgment call. It’s not always cheap.
    • 12. MVP Examples from “Real World”
      • Landing Page Smoke Tests (AdWords, Craigslist, Bill Gates, Dropbox)
      • In-house built solution – Ovia
      • Screenshots & LOIs (Sell the vision)
      • Kickstarter Campaigns
      • Wizard of Oz
      • Links to nowhere (Zynga)
      • Screencasts
      • Infomercial Tests
    • 13. Exercise: Hypotheses
      • 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
    • 14. Exercise: Tests
      • For the hypotheses with the highest priority, create some tests that could falsify them.
    • 15. Exercise: MVP Series
      • Consider the possible outcomes of the tests. What follow on tests could you create to gain further insight into the hypotheses.