Lean Startup: Minimum Viable Products December 1, 2010 Rich Collins & Patrick Vlaskovits with input from Eric Ries
What is an MVP?
Why do we use them?
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.”
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.”
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.”
Avoid building things nobody actually wants.
Minimalism may not be the goal.
Aesthetics/design may matter.
Not “release early, release often”!
Not "one and done”
Iteration based on Validated Learning
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."
Minimum is judgment call. It’s not always cheap.
MVP Examples from “Real World”
Landing Page Smoke Tests (AdWords, Craigslist, Bill Gates, Dropbox)
In-house built solution – Ovia
Screenshots & LOIs (Sell the vision)
Wizard of Oz
Links to nowhere (Zynga)
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
For the hypotheses with the highest priority, create some tests that could falsify them.
Exercise: MVP Series
Consider the possible outcomes of the tests. What follow on tests could you create to gain further insight into the hypotheses.