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BUSINESS FOR ENGINEERS: 
MINUMUM VIABLE PRODUCTS 
Jan Isakovic 
@iYan
THE STORY SO FAR 
2 
Short 
Long Sales cycle 
Has a 
budget 
Assembled 
a solution out 
of parts 
Been actively 
looking f...
THE STORY SO FAR 
• Customers may want other features 
once they can actually buy the product 
• This requires new product...
MINIMUM VIABLE PRODUCT 
• Coined by Eric Ries, author of Lean Startup 
• Not a demo, but a PRODUCT: it has features and 
a...
“LOW-FIDELITY” MVP 
“I have my first lo-fi MVP up at 
http://thinknaturalhealth.com/Get-Guts-to-Glory/ 
I am testing how m...
DROPBOX MVP 
In parallel with their product development efforts, the 
founders wanted feedback from customers about what 
...
DROPBOX MVP 
Video URL
DROPBOX MVP 
“It drove hundreds of thousands of people to 
the website. Our beta waiting list went from 
5,000 people to 7...
FOOD ON THE TABLE MVP 
• Company provides software that creates weekly meal plans and 
grocery lists of food your family l...
“CONCIERGE” MVP 
• One customer, one store, two men - the CEO and VP of product 
• Go to stores and interview potential cu...
2 YEARS LATER 
Source
How could you use the MVP concept at your company?
BUSINESS FOR ENGINEERS 
1: Customers and sales 4: Value proposition 
2: Product conception 5: Core competencies 
3: Minimu...
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Business for engineers part 3: Minimum viable products

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A quick introduction to basic business concepts aimed at engineers and all who wish a simple and quick explanation. Part 3 in the series is covering the concept of a Minimum Viable Product.

Published in: Business

Business for engineers part 3: Minimum viable products

  1. 1. BUSINESS FOR ENGINEERS: MINUMUM VIABLE PRODUCTS Jan Isakovic @iYan
  2. 2. THE STORY SO FAR 2 Short Long Sales cycle Has a budget Assembled a solution out of parts Been actively looking for a solution Is aware of having a problem Has a problem
  3. 3. THE STORY SO FAR • Customers may want other features once they can actually buy the product • This requires new product development • How can we optimize this effort? • Answer: Lean development and MVPs • The topic of this workshop! Sales Engineering Sales Engineering Customer identifies a problem Solution design Solution feedback Product development Product sales Sales
  4. 4. MINIMUM VIABLE PRODUCT • Coined by Eric Ries, author of Lean Startup • Not a demo, but a PRODUCT: it has features and a price. • “Sacrifice short term pain for long term gain” • Allows us to test our assumptions
  5. 5. “LOW-FIDELITY” MVP “I have my first lo-fi MVP up at http://thinknaturalhealth.com/Get-Guts-to-Glory/ I am testing how many people will click on the "Add to Cart" button, and if I get at least 1% response rate, then I will go ahead and make the actual product.”
  6. 6. DROPBOX MVP In parallel with their product development efforts, the founders wanted feedback from customers about what really mattered to them. In particular, Dropbox needed to test its leap- of- faith question: if we can provide a superior customer experience, will people give our product a try? Source: TechCrunch
  7. 7. DROPBOX MVP Video URL
  8. 8. DROPBOX MVP “It drove hundreds of thousands of people to the website. Our beta waiting list went from 5,000 people to 75,000 people literally overnight. It totally blew us away.”
  9. 9. FOOD ON THE TABLE MVP • Company provides software that creates weekly meal plans and grocery lists of food your family likes, then hooks into your local grocery stores to find the best deals on the ingredients for a weekly subscription fee • Elements: • Meal database; Recipes based on desired preparation time, money, health, variety; Recommendation engine; Up-to-date databases of grocery store inventory and prices; Defining and printing purchase lists • How would you test such a service?
  10. 10. “CONCIERGE” MVP • One customer, one store, two men - the CEO and VP of product • Go to stores and interview potential customers; try and sell the service (for the weekly fee) until they get a customer • Visit the customer personally each week, go to stores and get coupons, prepare recipes for the user - and collect the $9,95 per week • “They were not building the software; but, each week, they were learning more and more about what was required to make their product a success” Source 1 Source 2
  11. 11. 2 YEARS LATER Source
  12. 12. How could you use the MVP concept at your company?
  13. 13. BUSINESS FOR ENGINEERS 1: Customers and sales 4: Value proposition 2: Product conception 5: Core competencies 3: Minimum Viable Product 6: Company values Jan Isakovic @iYan

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