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Minimum Viable Product
 

Minimum Viable Product

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    Minimum Viable Product Minimum Viable Product Presentation Transcript

    • Minimum Viable Product#leanstartup
      Eric Ries (@ericries)
      http://StartupLessonsLearned.blogspot.com
    • Why do we build products?
      Delight customers
      Get lots of them signed up
      Make a lot of money
      Realize a big vision; change the world
    • Possible Approaches
      “Maximize chances of success”
      build a great product with enough features that increase the odds that customers will want it
      Problem: no feedback until the end, might be too late to adjust
      “Release early, release often”
      Get as much feedback as possible, as soon as possible
      Problem: run around in circles, chasing what customers think they want
    • Minimum Viable Product
      The minimum set of features needed to learn from earlyvangelists – visionary early adopters
      Avoid building products that nobody wants
      Maximize the learning per dollar spent
      Probably much more minimum than you think!
    • Minimum Viable Product
      Visionary customers can “fill in the gaps” on missing features, if the product solves a real problem
      Allows us to achieve a big vision in small increments without going in circles
      Requires a commitment to iteration
    • Minimize TOTAL time through the loop
      IDEAS
      LEARN
      BUILD
      DATA
      CODE
      MEASURE
    • Examples
      Building IMVU in six months
      2004 “Kerry vs. Bush avatar debate”
      Lean Startup workshop
      VIP link in the header
    • Product Development at Lean Startup
      Unit of Progress: Validated Learning About Customers ($$$)
      Customer Development
      Hypotheses,
      Experiments,
      Insights
      Problem: unknown
      Data,
      Feedback,
      Insights
      Solution: unknown
    • Techniques
      Smoke testing with landing pages, AdWords
      SEM on five dollars a day
      In-product split testing
      Paper prototypes
      Customer discovery/validation
      Removing features (“cut and paste”)
    • Fears
      False negative: “customers would have liked the full product, but the MVP sucks, so we abandoned the vision”
      Visionary complex: “but customers don’t know what they want!”
      Too busy to learn: “it would be faster to just build it right, all this measuring distracts from delighting customers”
    • Thanks!
      • Startup Lessons Learned Blog
      • http://StartupLessonsLearned.blogspot.com/
      • Getting in touch (#leanstartup)
      • http://twitter.com/ericries
      • eric@theleanstartup.com
      • The Lean Startup Workshop
      • October 30, 2009 in San Francisco
      • December 10, 2009 in New York
      • http://training.oreilly.com/theleanstartup/