Workshop 4 belize minimum viable product


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Workshop 4 belize minimum viable product

  1. 1. Workshop 4 – The Minimum Viable ProductMario ReyesResearch Manager P3 Ventures S.A.
  2. 2. Objectives of the Workshop•  Understand the function of a prototype and of aMinimum Viable Product, in each stage ofresolution.•  Bring the solution to its essential features.•  Explore if the solution works in the customer’scontext.•  Prepare the testing of an early prototype of thesolution (Minimum Viable Product). Include in theplan the objectives and indicators to be measured.
  3. 3. Activity 1•  Individually, list the 5 main features of the productor solution, from the 1st to the 5th, in order ofimportance.•  Then, 2 people in each group should present theirexercise.15 minutes
  4. 4. Returning to the Loop of ValidatedLearning…
  5. 5. Definition of Minimum ViableProduct“Is that version of a new product which allows ateam to collect the maximum amount ofvalidated learning about the customers with theleast effort”.  (Eric Ries)
  6. 6. Minimum Viable Product Product
  7. 7. Focus on the 20% of the funcionality thatwill be used the 80% of the time.
  8. 8. Do many iterations and pivots•  Iterations: small changes in features specific tothe product.•  Pivot: a big change based on the testing of abasic assumption of the value propostion.
  9. 9. Role of the prototype in a DesignThinking ProcessUNDERSTAND   OBSERVE   DEFINE   IDEATE   PROTOTYPE   TEST  
  10. 10. Prototype Definition•  A prototype is an integrative tool,which allows to learn, communicateand persuade.
  11. 11. Traditional Lineal Approach
  12. 12. Standard Sequential Approach
  13. 13. Suggested ApproachPrototyping multiple Minimum ViableProducts
  14. 14. Tools for making the MinimumViable Product•  Physical prototypes of low and high resolution(3D printing):– Develop tests: split test, A/B test, etc.•  Storyboard (low resolution).•  Low resolution service prototypes.•  “Wizard of Oz” Prototypes (higher resolution).•  Crowdsourcing Test.
  15. 15. Visual Thinking•  “Use of visual tools such as pictures, sketches,diagrams and post-it notes, to construct anddiscuss meaning.”(“Business Model Generation” Alex Osterwalder)
  16. 16. The Four Steps of Visual ThinkingLook See Imagine ShowWhat is it there?What am I looking?What are the limits?What do I see?Have I seen thesebefore?What patternsemerge?Which is the mostoutstanding?What is missing?How can Imanipulate thepatterns?How can I close thebreaches?Have I seen enough?Or do I need to comeback?This is what I sawand this is what Ibelieve it means.Is this what Iexpected or not?When you see thisDo you see thesame things?
  17. 17. An image is worth a thousand words
  18. 18. 6 Ways of Seeing•  Why?•  How?•  When?•  Where?•  How many?•  Who/what?
  19. 19. To Look vs. To See•  To see is the opposite side of looking. To look is torecollect visual information; to see is to select andidentify patterns, is to identify the problem.
  20. 20. Looking at a problem is the way to begin, butdoesn’t add to the solution. For knowing what tofix, we need to be capable of seeing what isdamaged.
  21. 21. How to Show the Problem
  22. 22. Different Levels of Resolution:Lo-fi vs Hi-fi
  23. 23. Different Levels of ResolutionLow Resolution Medium Resolution High Resolution
  24. 24. How to do quick prototypes?Learn from low cost and quick tests.
  25. 25. Diverse tools: drawings, storyboards,videos, etc.
  26. 26. •  Technique originated incinematography. Walt Disneypioneered it, discovering atechnique that allowed him tofollow up the progress andimprove the story.•  It is a useful exercise to imagineand create new possibilities.•  The relevant thing is the storythat is being told, the imagesjust support the story.Storyboard
  27. 27. Storyboard Example•  Offer: Molecularmarker test of marinespecies. Certificationof the trazability ofmarine products, bythe application of anaunthenticity test.This test allows toknow if what is beingsold is authentic.
  28. 28. Storyboard Premium: Ipadapp
  29. 29. Storyboard 6 keyframesKeyframe 1 Keyframe 2 Keyframe 3Keyframe 4 Keyframe 5 Keyframe 6
  30. 30. Activity 2: Draw an Storyboard ofthe Solution•  Individually, create a storyboard of the solution,explaining how it fits in the context of theproblem.•  Following that, two persons in each groupshould present their storyboard to the rest ofthe group and receive feedback from them.15 minutes
  31. 31. Early Prototype: DropboxPublish or launch a web site of a inexistent product. Whenthey access the site, they are offered to be the first onesin trying the beta prototype if they provide contactinformation or answer questions.It applies to web and physical projects.
  32. 32. Early Prototype: Groupon•  They started as a collective activism platformnamed El Punto, but they got weak results.•  They promoted themselves using a wordpressblog and sending pdf coupons.•  They started with the announcement of a 2x1discount in pizza.•  During the first announcement 20 people bought.•  How much is this company worth today? 12 billiondollars.
  33. 33. Pain Test:•  Value the quaintity of annoyances they confrontwith the problem.•  The web site sent anannouncement in Google, about online movies,that gave access to the testing web site. Fromethe people who entered, 50% gave their email.•  They were asked to describe the annoyances theyexperienced in relation to classifications formovies directed to kids and the lack of access tothem.
  34. 34. The Concierge MVP: Food on theTable•  The Concierge MVP is a learning process with thefirst customers..•  A service that offers the elaboration of a weeklymeal plan, where you can budget expenses indifferent stores based on recipes and ingredients.•  At the moment, the sites allows to reviewthousands of stores, but they started just with onestore for one client.•  It was the first “concierge” client, who received theshopping list at home.
  35. 35. Wizard of Oz: Carsdirect, ZapposThe intention of purchasing was validated,without having the whole logistics.
  36. 36. Wizard of Oz: Berkeley Pizza•  They started without a physical space..•  They assured themselves there was enoughdemand. Only when they showed that therewas enought people intending to pay, theinvested in a location for a restaurant.
  37. 37. Crowdfunding Test: Pebble•  Pebble is a digital watch that was fundedexclusively by Kickstarter. The funding ofpeople is proof that you have potentialcustomers.
  38. 38. Split Test•  A version is tested with one group ofcustomers, and the other version with theother group.•  You compare the results with one and the otherversion: with or without the feature.
  39. 39. Refining  the  Features:  The  100  dollar  test  •  Ask the customer to point, between a list offeatures, how he will distribute 100 dollar.•  This test allow to understand what features arethe most important for customers. It helps tofocus when you have many features.
  40. 40. Ranking System•  Ask the customers to qualify the features thatare more important to them.•  They have to be the feature that betterrespond to a problem faced by a customersegment.
  41. 41. “Choice, happiness and SpaghettiSauce”Malcolm Gladwell(
  42. 42. Apps for Prototyping•  Mobile Prototypes
  43. 43. Physical Prototypes•  Quick Prototyping: Physical model of theproject.•  3D Printing.
  44. 44. Levels of Resolution in a PorschePrototype
  45. 45. Prototype of the FirstMouse
  46. 46. IDEO Method:Supermarket Cart•  IDEO was presented the followingchallenge for a TV show: reinventthe supermarket cart.•  For that reason, they put inpractice their methodology,observing, generating ideas,prototyping and refining, untilthey got to a result in recordtime.•
  47. 47. 3D Printing
  48. 48. Prototypes(D. School Stanford)“The only way to do it isto DO IT.”“Nothing is a mistake. There’sno win or fail. There’s onlyMAKE”
  49. 49. Role PlayingThe experience of a product or service, with alltheir emotional and sensorial components, it isbetter expressed by acting and performing therole of the customer.
  50. 50. Activity: Physical Prototype•  Choose any project from the group that its closerto a physical product.•  Individually, look for objects you may have in yoursorrouding (any object).•  Build a prototype that represents this product.•  Then simulate that you are introducing theproduct to the customer. Simulate an introductionof the product to your customer.15 minutes
  51. 51. Business Opportunities!...•  They emerge when you there are barriers toconsumption.– A barrier to consumption means that persons orcompanies posses barriers that stops them from doingcertain activities or to consume certain products orservices.
  52. 52. Business Opportunities!...•  Also when markets are saturated.– A market is saturated when the available solutionsdon’t add value and the companies are not able tooffer better solutions.
  53. 53. •  The objective should be to identify thequantity of non consumption in a marketspace.•  You have 4 types of barriers to consumption:Which are the main Barriers toConsumption?
  54. 54. Barriers to ConsumptionYou find barriers in:• Skills• Resources• Access• Time
  55. 55. Barriers to Consumption: Skills•  Frequent problems when a newtechnology is introduced.•  Heart Start Home Defibrilatorfrom Phillips, to be used bypeople without medicaltraining.
  56. 56. Barriers to Consumption: Resources•  M o t o f o n e b yMotorola (2006): thefirst cel phone forcustomer of lowerincomes in developingnations.
  57. 57. Barriers to Consumption: Access•  Online Retailers likeA m a z o n a l l o wcustomers to accessto a broad range ofproducts form everylocation.
  58. 58. Barriers to Consumption:Time•  Metro: newspapersfor people withoutenough time, thatcan be read in thepublic transport.
  59. 59. Summarizing…  •  Barriers  from  skills:  a  simpler  solu>on.    •  Barriers  from  resources:  less  costly  solu>on.    •  Barriers  from  access:  more  accessible  solu>on.  •  Barriers  from  >me:  quickest  solu>on.