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MVP Workshop @ Aeternity Starfleet 3 | Malta


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Genesis Week Day 2:
All-day workshop with Stefan Ignjatovic Business Developer and Petar Atanasovski Product Manager from MVP Workshop
In the first half, we went through the basics for the blockchain projects - the Value Proposition, Customer Satisfaction, and the Marketing Fit, for which you can:

- Focus on the unique solution offered by your product so you can build your MVP;

- Outline the strengths and weaknesses of your idea so you can enhance your app later;

- Identify metrics that are the most important for your app to see how well it satisfies customer needs.

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MVP Workshop @ Aeternity Starfleet 3 | Malta

  1. 1. Building non-existent products based on raw business ideas of our partners, using unstable new technologies
  2. 2. What's on the menu for these two days? 01 02 03 Value Proposition Design Tuesday Customer Development Tuesday Decentralized Business Model Canvas Wednesday
  4. 4. Customer Segmentation Who are your customers? Teamwork - 20 minutes Guide Outline ➔ Demographic Years, Gender, Marital status, Incomes, Education ➔ Psychographic Believes, Opinions, Interests, Values ➔ Behavioral Performing particular action & how often ➔ Needs Same product, different needs
  5. 5. Product Adoption Life Cycle Who are your customers? Teamwork - 15 minutes ➔ Who are your Innovators ➔ Who are your Early Adopters
  6. 6. User Personas Who are your customers? Teamwork - 20 minutes ➔ Draft at least three User Personas ➔ Prioritize them
  7. 7. Pick the Main User Persona The Product / Market Fit Teamwork - 30 minutes ➔ Analyze the Product / Market Fit Canvas for your main User Persona Canvas link
  8. 8. Remaining User Personas Value Proposition Canvas Teamwork - 30 minutes ➔ Analyze the Value Proposition Canvas for your second and third User Persona Canvas link
  10. 10. What do we Assume about? Assumptions & Experiments ➔ Clients ➔ Products ➔ Features
  11. 11. Risk = Probability * Impact Prevention - Mitigation - Reaction
  12. 12. Determining risks Intuition1 Talk to domain experts2 Start with universal risks Real problem, revenue stream, channels3
  13. 13. Qualitative QuantitativeQualitative Analytics A/B & MV (multivariate) testing Card sorting BenchmarkingSurveys Desirability studies Usability testing Focus groups Diary studies Interviews
  14. 14. Generative Evaluative Ethnography Card sorting User Interview User Surveys Stakeholder interviews Focus groups Persona Development Storyboarding
  15. 15. Behavioral Attitudinal Interviews Card sorting Focus groups User Surveys Usability testing Analytics A/B & MV testing Eyetracking
  16. 16. Running an example experiment MVP / Experiment Canvas Teamwork - 30 minutes ➔ List your product risky assumptions ➔ Prioritize them ➔ Figure out how to run a test Canvas link
  17. 17. Experiments on an existing product Map out business model and funnel of your product.1 Collect data on each of the stage in your funnel.2 Assign a value to a single conversion, based on the financial model. 3 Use a histogram to measure variance. Do A-B testing and run one change at a time. 4 5
  18. 18. In a statement... Rethink your Value Proposition ➔ Value Proposition is a statement that explains what benefit you provide for who and how you do it uniquely well. Teamwork - 5 minutes
  19. 19. Minimum Viable Product Proof of Concept Products ➔ Minimum Viable Product is a tool you use to validate your risky assumption before scaling under conditions of extreme uncertainty Why? How? What? Is there a problem? Can it be solved? Is there a product here?
  20. 20. Teamwork - 30 minutes MVP Features Matrix Minimum Viable Product ➔ Minimum Viable Product is a tool you use to validate your risky assumption before scaling under conditions of extreme uncertainty
  22. 22. ➔ User/Customer Segments  Who we are building the product for / covered in Value Proposition Design ➔ Value Proposition  What is the value we promise to deliver to our users / covered in Value Proposition Design ➔ Proposed Solution  What does the solution actually look like ➔ Reaching Trust   What mechanisms do we use to reach trust ➔ Validator Incentive  What are the incentives for validators to take part in the network and work in its best interest ➔ Interaction Channels   What are the best channels for communicating with users and community in general ➔ Network Governance  How are decisions made within the network ➔ Cost Structure  What are the key costs of doing business ➔ Revenue Streams   What are the key ways to generate revenue
  23. 23. Failing fast is good because you try something else faster. Big spending doesn’t make your chances of success any bigger. If you minimize your feature set you maximize respect to your customers. TIME & MONEY ARE EQUALLY IMPORTANT RESOURCES
  24. 24. Being first is better than being better. Every new iteration should bring new knowledge. If an assumption is not risky than it's not a valuable assumption. MAXIMIZE LEARNING & MINIMIZE TIME TO MARKET
  25. 25. Explore & Apply Bonus Materials Customer journey mapping example Cross SWOT/TOWS analysis MVP Workshop @ Malta - Blog Post 10 Usability Heuristics for UI Design in the Blockchain Era Case Library - Useful Examples
  26. 26. That’s all Let’s Rock!