Five Misunderstandings about MVPs

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I believe the concept of an “MVP” (or minimally viable product) is both one of the most powerful concepts for entrepreneurs thinking through their product strategy and also one of the most misunderstood / misused terms by entrepreneurs today. These are my opinion of the five biggest misunderstandings about MVPs.

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Five Misunderstandings about MVPs

  1. 1. Five Misunderstandings about MVPs
  2. 2. Build Learn Measure
  3. 3. “that version of a new product [or service] which allows a team to collect the maximum amount of validated learning about customers with the least effort” ! -- Eric Reis What do you build?
  4. 4. #1: Viable ≠ Crappy
  5. 5. #2: Not a destination!
  6. 6. What do you measure
 & learn? MAP #1 PPC Campaign Landing Page MAP #2 Product Drawings Detailed Spec MAP #3 Prototype Functional Output Features / Benefits description ‘More info’ Call to Action Face-to-face technology demo Field Pilot Market insight Find early adopters Locate Strategic partners Seed Funding Paid-beta customers Revenue Customer Validation Capital Investment Customer Interaction Learning Objective MAPS #1 > Concept MAPS #2 > P-M Eval MAPS #3 > P-M Fit Investment $ $$ $$$
  7. 7. #3: Validates or invalidates
 key hypothesis
  8. 8. #4: Doesn’t have to be a product at all
  9. 9. #5: Not always a landing page
  10. 10. Thank you @SeanAmmirati
  11. 11. Creative Commons Slide 1: http://www.flickr.com/photos/ kylemay/526384959 Slide 4: http://www.flickr.com/photos/ mattimattila/8687764367 Slide 5: http://www.flickr.com/photos/isolino/ 3238550310 Slide 7: http://www.flickr.com/photos/ superfamous/7550687770/sizes/o/
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