Crowdtesting uses crowdfunding to test minimum viable products (MVPs) before building them by gauging customer interest and determining how much customers are willing to pay through pre-orders. It allows founders to validate their ideas and determine if their startup is an actual business or just a hobby by getting customer feedback on paper prototypes to understand if their product solves a problem and if customers will pay for the solution before expending resources to fully develop the product.

1. crowdtesting
using crowdfunding to
test an MVP
justin wilcox
customerDevLabs.com

2. exploring
businesses

3. Crowdfunding MVP
• Crowdfunding is like swiss cheese
• It smells good and has holes in it
• MVP sometimes stands for most
valuable player
• Crowdtesting is different than
crowdfunding
• See they have different letters in them

4. George
Bush

5. Conversion Rates

6. fool

7. Crowdfunding MVP
• This slide will be skipped over
• The slide following this one is not
intended
• To be offensive in anyway
• It’s more of an attention grabber as we
fly by it
• Here we go…

9. your
startup
isn‘t a
business
it‘s a hobby

10. your startup
opportunity cost
hobby business
$175k salary
fun
obsession profit $
costs lots $

11. i’ve
started
hobbies

12. interviewing
customers
“does it solve a problem?”
an idea…

13. paper
prototypes
“can we solve it?”
yes, it does

14. business or
a hobby?
“how much will they pay?”
our own problem

16. business or
a hobby?
“how much will they pay?”
critically important

17. savior

18. savior

20. pebble
hobby product business

21. Bounce: Be on time
Goal: $ ______
5
10
Price: $ ______
how much willpay… pay?
will they they

22. crowd funding
testing

25. A
B

26. Bounce pre-orders
$5 x 1.4% = $.07/visitor
$10 x 1.7% = $.17/visitor
before built product
sample: 5,549

27. how much will they pay?
business or
a hobby

28. crowdtesting
your product
business or
a hobby
before you build it
[clap now]

29. crowdtesting
details
tips
bit.ly/crowdtesting
justin wilcox customerDevLabs.com