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Experiments (What are MVPs?)

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Experiments (What are MVPs?)

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What are MVPs in this lean startup world? I prefer to use the word "experiment" since one of the critical elements of lean startups is bringing a results-oriented scientific method approach to business and product design. Here is an overview of concepts, tactics and tips. (from my presentation to LUXr NYC Dec 2011)

What are MVPs in this lean startup world? I prefer to use the word "experiment" since one of the critical elements of lean startups is bringing a results-oriented scientific method approach to business and product design. Here is an overview of concepts, tactics and tips. (from my presentation to LUXr NYC Dec 2011)

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Experiments (What are MVPs?)

  1. 1. What are MVPs? Think Experiments Giff Constable Dec 2011
  2. 2. fall in love with a customer need, not a solution Giff Constable Dec 2011
  3. 3. Validate: need solution customer & market customer acquisition business model Giff Constable Dec 2011
  4. 4. Your Goal: The fastest, simplest path to validated learning Giff Constable Dec 2011
  5. 5. Prioritize experiments experiment here first High Risk Known Unknown Low Risk Giff Constable Dec 2011
  6. 6. Examples pre-sales (with LOI, discounts) Giff Constable Dec 2011
  7. 7. Examples “concierge” (i.e. be the software) Giff Constable Dec 2011
  8. 8. Examples manual delivery (aka “wizard of oz”) Giff Constable Dec 2011
  9. 9. Examples paper testing Giff Constable Dec 2011
  10. 10. Examples landing page (with calls to action) Giff Constable Dec 2011
  11. 11. Examples video Giff Constable Dec 2011
  12. 12. Examples working software Giff Constable Dec 2011
  13. 13. experiments can be analog or digital Giff Constable Dec 2011
  14. 14. usually many ways to skin the cat Giff Constable Dec 2011
  15. 15. Process 1. have a hypothesis to test 2. brainstorm a few different tests, offline and online 3. try to break the tests into even smaller units of work 4. choose a test and set a goal 5. run the test (try to hit the goal) 6. review results and make a decision Giff Constable Dec 2011
  16. 16. Results Hit goal and confirmed assumption (for now) OR Missed goal 1. need to iterate the test or 2. need to iterate the business Giff Constable Dec 2011
  17. 17. “MVP” isn’t always about product It definitely isn’t about a launch Giff Constable Dec 2011
  18. 18. At some point, you’ll be building something real so remember... Giff Constable Dec 2011
  19. 19. a minimal viable product is not a point release it is a rolling series of releases that iterate and improve based on a mix of data and vision/judgement Giff Constable Dec 2011
  20. 20. an MVP is not the first step in a linear feature rollout if you aren't setting goals, gathering data, and iterating what you have, then you are piling risk on top of risk Giff Constable Dec 2011
  21. 21. focus ruthlessly on the target customer, and the core function / benefit don't get lost in add-ons, improvements, futures, or attempting to serve everyone Giff Constable Dec 2011
  22. 22. a minimal viable product is for learning, not marketing find product optimize promote market fit conversion* * for enterprise-focused startups, think of this step as “find your repeatable sales process” Giff Constable Dec 2011
  23. 23. keep on doing simple experiments outside of the product development path Giff Constable Dec 2011
  24. 24. this isn’t just for ground-floor startups Giff Constable Dec 2011
  25. 25. but rather, for any product or business that faces uncertainty Giff Constable Dec 2011
  26. 26. now let’s create some experiments giff.constable@gmail.com http://giffconstable.com Giff Constable Dec 2011

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