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How to get your Minimum Viable Product (MVP)

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So you have a great product idea. Now what?! Learn how to get your Minimum Viable Product (MVP) and what methods are most effective in helping you achieve this.

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How to get your Minimum Viable Product (MVP)

  1. 1. MVP: The Steps After Ideation GROWTH HACKING ASIA
  2. 2. 2 Why do an MVP? BIGGEST RISK IS MAKING SOMETHING NOBODY WANTS * according to CB Insights, https://www.cbinsights.com/blog/startup-failure-reasons-top/ This happens 42% of the time *
  3. 3. 3 MVP & Lean Startup A Minimum Viable Product is an experiment that allows a team to maximise validated learning about customers with the least effort.
  4. 4. 4 Build MeasureLearn Ideas Product Data
  5. 5. 5 Source: http://www.themacro.com/
  6. 6. 6 Source: http://www.themacro.com/
  7. 7. 7 Source: http://www.themacro.com/ Product-market fit
  8. 8. 8 Product Market Fit “It is being in a good market, with a product that can satisfy that market” MARC ANDREESSEN
  9. 9. 9 TYPES OF MVPS
  10. 10. 10 CONCIERGE MVP Groupon started with just a WordPress blog and manually sending PDFs with the first vouchers
  11. 11. 11 LANDING PAGE Lyft kicked off recruitment by first tracking conversions on a landing page to hire drivers.
  12. 12. 12 VIDEO MVP Dropbox explored with a series of MVPs to help tie down what really resonated with users before building the product
  13. 13. 13 A lo-fidelity wireframe can be useful for testing quick hypotheses. Don’t spend effort making them look good! WIREFRAMES
  14. 14. 14 INTERACTIVE MOCKUPS DEMO Put interactive, hi-fidelity mockups in front of users to observe and gain important feedback.
  15. 15. 15 What is NOT an MVP? AN MVP IS NOT A CHEAPER PRODUCT NOR THE SMALLEST COLLECTION OF FEATURES Beware of building cheap MVPs that will lead you astray. Validated learning trumps saving money.
  16. 16. Source: Tech Crunch
  17. 17. Source: Tech Crunch
  18. 18. 19 When to Build a Product MVP? Once you’ve validated some of the fundamental hypotheses of your business You are ready to commit resources to building it
  19. 19. 20 What is a User Story? A high level requirement that provides value to a specific user As a <type of user>, I want <some goal> so that <some reason>. “ ” FOR EXAMPLE
  20. 20. 21 What shouldn’t be a user story Technical tasks Design tasks Fixing bugs, or managing servers, etc. Fixing bugs, or managing servers, etc. Throw stories away after they are delivered!
  21. 21. 22 PRIORITIZE Empathy Stickiness Virality Revenue Scale A list of stories with all equal prioritisation is failure to prioritise.
  22. 22. 23 I CAN’T GET A TAXI WHEN I NEED IT THE MOST
  23. 23. 24 15 MINS CHOOSE AND DESIGN AN MVP
  24. 24. 25 15 MINS USER STORIES FOR A PRODUCT MVP
  25. 25. 26 Q&A

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