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Different faces of MVP


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Lean Startup Zürich - 19 Januar 2015

The "Minimum viable Product" (MVP) is one of the core concepts of the Lean Startup Methodology. Tonight, Adrian will shortly summarize the essence of the MVP concept and then present several MVP examples from different industries.

Published in: Business

Different faces of MVP

  1. 1. Adrian von Orelli Zürich, January 2015 Different faces of MVPs 19.1.2015 1
  2. 2. Topics addressed in this talk • Why you need an MVP • What it is (definition) • Pretotype • MVP • Examples 19.1.2015 2
  3. 3. Why you need an MVP Don’t sell the products you can build Build the products you can sell 19.1.2015 3
  4. 4. Lean Innovation Framework 19.1.2015 4
  5. 5. Everything is an experiment Internal debates do not generate facts, but smart experiments do. Persuade by selling your opinion eloquently Design effective experiments that generate facts 19.1.2015 6
  6. 6. What do you want to learn first? How to build your product? or If customers will buy your product? 19.1.2015 7
  7. 7. Minimal Viable Product The MVP is that version of a new product which allows a team to collect the maximum amount of validated learning about customers with the least effort. (Eric Ries) 19.1.2015 8
  8. 8. Don’t be afraid … Don’t be afraid to be “embarrassed” when customers see your product for the first time, you will be embarrassed anyway. Eric Ries 19.1.2015 9
  9. 9. Where does an MVP start? 4) Early version with minimal feature set that can be sold to early adopters. Sales channel can be crowd founding (e.g. Pebble). 1) Proposal: a document describing the solution 3) Fake demo of any kind 2) Smoke Test: Landing Page to test interest MVPPretotype 19.1.2015 10
  10. 10. Alberto Savoia 19.1.2015 11
  11. 11. Minimal Viable Product An MVP is NOT a crappy version of the final product. The challenge is to achieve “minimal” and “viable”. 19.1.2015 12
  12. 12. Minimal Viable Product An MVP is NOT a crappy version of the final product. The challenge is to achieve “minimal” and “viable”. 19.1.2015 13
  13. 13. Pretotype Example (Hardware) How IDEO worked in 1999 19.1.2015 14
  14. 14. Types of Pretotypes Smoke test: Landing Page + Adwords Mechanical Turk Fake Door 19.1.2015 15 In Person Interview / Proposal Explainer Video Pinocchio (Mockup)
  15. 15. Purpose of Pretotypes Be able to test a product hypothesis with minimal resources Accelerate learning Reduce wasted engineering hours source: Wikipedia Get the product to early customers as soon as possible 19.1.2015 16
  16. 16. Pretotype Example (Pinocchio) Simulate living room ambience effect of flat Screen TV (compared to CRT) Around 2002 From Tom Kelly „the ten faces of innovation“ 19.1.2015 17
  17. 17. Pretotype Example (Explainer Video) Test vision of cloud service offering - Dropbox 19.1.2015 18
  18. 18. Pretotype Example (Pinocchio) Simulate mobile app Pawel 19.1.2015 19
  19. 19. Famous Landing Pages (Smoke Test) 19.1.2015 20
  20. 20. Landing Pages (Smoke Test) 19.1.2015 21
  21. 21. 19.1.2015 22
  22. 22. Types of MVPs Wizard of Oz: Zappos Concierge model: Food on the table Crowd funding: Pebble 19.1.2015 23
  23. 23. MVP: Food on the table (Concierge) • Signed up first customer by describing benefits of service plus subscription fee • Provided recipe service personally (concierge MVP) • Learned customer needs in detail and automated later what worked 19.1.2015 24
  24. 24. MVP: Groupon (Wizard of Oz) • Skinned Wordpress blog and posted daily • Used filemaker to create PDF coupons and emailed • Effectively validated the demand for such service without developing a seamless system 19.1.2015 25
  25. 25. MVP Examples The first GoPro cameras used 35mm film and were strapped to a person’s wrist and only captured pictures of the ride. 19.1.2015 26
  26. 26. MVP Examples (Concierge) Test business model for Drone based agricultural imaging service MVP: Rent camera and plane instead of building a drone 19.1.2015 27
  27. 27. Crowdfunding 19.1.2015 28
  28. 28. Crowdfunding Test traction early Get early customer feedback Marketing channel Sales channel Finance development and first batch of production 19.1.2015 29
  29. 29. MVP Examples (Clever Demo) Demo of multi location synchronized touch screen scrum board by video conference. 19.1.2015 31
  30. 30. Things to note Progress is not getting it’s work done, its about learning and understanding if you are effective 19.1.2015 32
  31. 31. MVP Example (Explainer Video) Thalmic Lab’s Myo device was able to attract 10,000 pre-orders or $1,5 million in sales in the first 48 hours with this video. 19.1.2015 33