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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/