Minimum Viable Experiment

         @leancircle
        #leanstartup
Tristan Kromer
    LUXr.co


   @TriKro
About LUXr
LUXr’s mission is to educate early-stage entrepreneurs on
effective practices to deliver products that customers want,
need and love to buy.




Residency                    Core                     Workshops               Advising
                          Curriculum
8 weeks to                  Learning products          Core concepts and     Coaching &
awesome for                 for accelerators &         hands-on activities   guidance for teams
early-stage teams.          startup teams.             for everyone.         going at lightspeed.




LUXr • 3435 Cesar Chavez
San Francisco, CA • 94110
info@luxr.co • http://luxr.co • twitter: @luxrco

Janice Fraser, Founder & CEO [janice@luxr.co • @clevergirl ]
Jason Fraser, Co-Founder & Operations Lead [jason@luxr.co ]
Kate Rutter, Co-Founder & Designer [kate@luxr.co • @katerutter ]


LUXR.CO   AUGUST 2012
Disclaimer

I am not an expert in your business.

Only you can be the expert
  in your business.

My job is:
 • to ask the unasked questions;
 • to challenge assumptions;
 • and give you tools to succeed.
Steve Blank   Eric Ries
Learn"           Execute"
         P/MF"
What is a
Minimum Viable Product?
“...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
Smoke Test
Video Test




  Click Me
Wizard of Oz Test
Wizard of Oz Test
Concierge Test
Behavior Test
Pocket God
My Favorite
Pocket God, 2009
Pocket God Sales
Buy my
 book!
Janice Fraser
    LUXr.co
product
product   UI
product   UI
• Mass Market
• Niche Market
• Segmented
• Diversified
• Multi-sided Platforms
• Mass Market
• Niche Market
• Segmented
• Diversified
• Multi-sided Platforms
• As vague as possible
BEHAVIORS
                                  Gets SMS from kids “Pick me up!”

                                  Has a housekeeper once a week

                                   Complains “I feel overwhelmed”

                                  Orders take-out 3 nights/wk

                                  Calls to remind husband for errands


  DEMOGRAPHICS                         NEEDS & GOALS
   Married, 2 kids                 Help coordinating errands, manage
                                   kids, keep things running
    Working mom
                                    Have time for herself
Household income is $15k / year   Feel like she has life under control
    34 years old
                                      “to clone herself”
Lives in Walnut Creek,
   works in San Jose
• Newness
• Performance
• Customization
• “Getting a Job Done”
• Design
• Brand Status
• Price
• Cost reduction
• Risk Reduction
• Newness
• Performance
• Customization
• “Getting a Job Done”
• Design
• Brand Status
• Price
• Cost reduction       • Accessibility
• Risk Reduction       • Convenience / usability
• Sales force
• Web sales
• Own stores
• Partner stores
• Wholesaler
• Sales force      • Awareness
• Web sales        • Evaluation
• Own stores       • Purchase
• Partner stores   • Delivery
• Wholesaler       • After sales
• Personal assistance
• Dedicated personal
  assistance
• Self-service
• Automated services
• Communities
• Co-creation
• Production
• Problem Solving
• Platform / network
• Production
• Problem Solving
• Platform / network
• Production
• Problem Solving
• Platform / network

                       • Sharing
                       • Creating content
                       • Curating
                       • ???
• Physical
• Intellectual
• Human
• Financial
• Physical       • Key Partners
• Intellectual    •   Optimization of
                      Economies of Scale
• Human           •   Reduction of Risk
• Financial       •   Acquisition of particular
                      resources and activities
• Asset sale
• Usage Fees
• Subscription fees
• Lending / Renting /
  Leasing
• Licensing
• Brokerage Fees
• Advertising
• Cost driven
• Value-driven
• Fixed costs
• Variable costs
• Economies of scale
• Economies of scope
Tristan Kromer
    LUXr.co


   @TriKro
About LUXr
LUXr’s mission is to educate early-stage entrepreneurs on
effective practices to deliver products that customers want,
need and love to buy.




Residency                    Core                     Workshops               Advising
                          Curriculum
8 weeks to                  Learning products          Core concepts and     Coaching &
awesome for                 for accelerators &         hands-on activities   guidance for teams
early-stage teams.          startup teams.             for everyone.         going at lightspeed.




LUXr • 3435 Cesar Chavez
San Francisco, CA • 94110
info@luxr.co • http://luxr.co • twitter: @luxrco

Janice Fraser, Founder & CEO [janice@luxr.co • @clevergirl ]
Jason Fraser, Co-Founder & Operations Lead [jason@luxr.co ]
Kate Rutter, Co-Founder & Designer [kate@luxr.co • @katerutter ]


LUXR.CO   AUGUST 2012

Lean Startup Oslo, Norway, MVP Workshop 2012-10-04

  • 1.
    Minimum Viable Experiment @leancircle #leanstartup
  • 2.
    Tristan Kromer LUXr.co @TriKro
  • 3.
    About LUXr LUXr’s missionis to educate early-stage entrepreneurs on effective practices to deliver products that customers want, need and love to buy. Residency Core Workshops Advising Curriculum 8 weeks to Learning products Core concepts and Coaching & awesome for for accelerators & hands-on activities guidance for teams early-stage teams. startup teams. for everyone. going at lightspeed. LUXr • 3435 Cesar Chavez San Francisco, CA • 94110 info@luxr.co • http://luxr.co • twitter: @luxrco Janice Fraser, Founder & CEO [janice@luxr.co • @clevergirl ] Jason Fraser, Co-Founder & Operations Lead [jason@luxr.co ] Kate Rutter, Co-Founder & Designer [kate@luxr.co • @katerutter ] LUXR.CO AUGUST 2012
  • 4.
    Disclaimer I am notan expert in your business. Only you can be the expert in your business. My job is: • to ask the unasked questions; • to challenge assumptions; • and give you tools to succeed.
  • 5.
    Steve Blank Eric Ries
  • 6.
    Learn" Execute" P/MF"
  • 11.
    What is a MinimumViable Product?
  • 13.
    “...that version ofa new product which allows a team to collect the maximum amount of validated learning about customers with the least effort” - Eric Ries
  • 15.
  • 20.
    Video Test Click Me
  • 21.
  • 22.
  • 23.
  • 26.
  • 27.
  • 28.
  • 29.
  • 30.
  • 32.
  • 33.
  • 40.
  • 41.
  • 42.
  • 49.
    • Mass Market •Niche Market • Segmented • Diversified • Multi-sided Platforms
  • 50.
    • Mass Market •Niche Market • Segmented • Diversified • Multi-sided Platforms • As vague as possible
  • 53.
    BEHAVIORS Gets SMS from kids “Pick me up!” Has a housekeeper once a week Complains “I feel overwhelmed” Orders take-out 3 nights/wk Calls to remind husband for errands DEMOGRAPHICS NEEDS & GOALS Married, 2 kids Help coordinating errands, manage kids, keep things running Working mom Have time for herself Household income is $15k / year Feel like she has life under control 34 years old “to clone herself” Lives in Walnut Creek, works in San Jose
  • 55.
    • Newness • Performance •Customization • “Getting a Job Done” • Design • Brand Status • Price • Cost reduction • Risk Reduction
  • 56.
    • Newness • Performance •Customization • “Getting a Job Done” • Design • Brand Status • Price • Cost reduction • Accessibility • Risk Reduction • Convenience / usability
  • 60.
    • Sales force •Web sales • Own stores • Partner stores • Wholesaler
  • 61.
    • Sales force • Awareness • Web sales • Evaluation • Own stores • Purchase • Partner stores • Delivery • Wholesaler • After sales
  • 63.
    • Personal assistance •Dedicated personal assistance • Self-service • Automated services • Communities • Co-creation
  • 65.
    • Production • ProblemSolving • Platform / network
  • 66.
    • Production • ProblemSolving • Platform / network
  • 67.
    • Production • ProblemSolving • Platform / network • Sharing • Creating content • Curating • ???
  • 69.
  • 70.
    • Physical • Key Partners • Intellectual • Optimization of Economies of Scale • Human • Reduction of Risk • Financial • Acquisition of particular resources and activities
  • 72.
    • Asset sale •Usage Fees • Subscription fees • Lending / Renting / Leasing • Licensing • Brokerage Fees • Advertising
  • 74.
    • Cost driven •Value-driven • Fixed costs • Variable costs • Economies of scale • Economies of scope
  • 77.
    Tristan Kromer LUXr.co @TriKro
  • 78.
    About LUXr LUXr’s missionis to educate early-stage entrepreneurs on effective practices to deliver products that customers want, need and love to buy. Residency Core Workshops Advising Curriculum 8 weeks to Learning products Core concepts and Coaching & awesome for for accelerators & hands-on activities guidance for teams early-stage teams. startup teams. for everyone. going at lightspeed. LUXr • 3435 Cesar Chavez San Francisco, CA • 94110 info@luxr.co • http://luxr.co • twitter: @luxrco Janice Fraser, Founder & CEO [janice@luxr.co • @clevergirl ] Jason Fraser, Co-Founder & Operations Lead [jason@luxr.co ] Kate Rutter, Co-Founder & Designer [kate@luxr.co • @katerutter ] LUXR.CO AUGUST 2012

Editor's Notes

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  • #30 Bolt Creative’s Dave Castelnuevo and freelance artist Allan Dye.\n\nThey finished the game, submitted it to Apple on Jan. 3, and then saw it appear on the App Store on Jan. 9. A half-dozen fans reviewed it and offered valuable feedback. Some said it was fun for five minutes and then got boring.\n\nAt the peak, Pocket God was selling about 18,000 copies a day. At 99 cents, that meant $18,000 a day was coming in.\n
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  • #32 Who here knows the Business Model Canvas?\nWho has used it?\nOnce you did it, where did it go? Did you revise it? Is it on a wall or in a drawer?\n\nExternalizing personas, BMCs, etc serves a few purposes:\n\n1) Develops a shared team vision (no “user wants this” “no he doesn’t” arguments)\n... also communicates quickly and effectively with external parties (such as investors, advisors)\n2) Serves as a prompt and checklist for catching gaps in our thinking processes (check riskiest assumptions)\n3) Should help develop and exercise empathy for the user\n
  • #33 Who here knows the Business Model Canvas?\nWho has used it?\nOnce you did it, where did it go? Did you revise it? Is it on a wall or in a drawer?\n\nExternalizing personas, BMCs, etc serves a few purposes:\n\n1) Develops a shared team vision (no “user wants this” “no he doesn’t” arguments)\n... also communicates quickly and effectively with external parties (such as investors, advisors)\n2) Serves as a prompt and checklist for catching gaps in our thinking processes (check riskiest assumptions)\n3) Should help develop and exercise empathy for the user\n
  • #34 Who here knows the Business Model Canvas?\nWho has used it?\nOnce you did it, where did it go? Did you revise it? Is it on a wall or in a drawer?\n\nExternalizing personas, BMCs, etc serves a few purposes:\n\n1) Develops a shared team vision (no “user wants this” “no he doesn’t” arguments)\n... also communicates quickly and effectively with external parties (such as investors, advisors)\n2) Serves as a prompt and checklist for catching gaps in our thinking processes (check riskiest assumptions)\n3) Should help develop and exercise empathy for the user\n
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  • #36 I believe businesses must be about creating value for the user. User experience should focus on the customer and turn a frowny face into a happy face. We need to figure out what’s in the box!\n
  • #37 Problems don’t exist - a Problem is the mental state of a human being, in a certain context.\n
  • #38 Problems don’t exist - a Problem is the mental state of a human being, in a certain context.\n
  • #39 Problems don’t exist - a Problem is the mental state of a human being, in a certain context.\n
  • #40 I believe businesses must be about creating value for the user. User experience should focus on the customer and turn a frowny face into a happy face. We need to figure out what’s in the box!\n
  • #41 I believe businesses must be about creating value for the user. User experience should focus on the customer and turn a frowny face into a happy face. We need to figure out what’s in the box!\n
  • #42 I believe businesses must be about creating value for the user. User experience should focus on the customer and turn a frowny face into a happy face. We need to figure out what’s in the box!\n
  • #43 Who here knows the Business Model Canvas?\nWho has used it?\nOnce you did it, where did it go? Did you revise it? Is it on a wall or in a drawer?\n\nExternalizing personas, BMCs, etc serves a few purposes:\n\n1) Develops a shared team vision (no “user wants this” “no he doesn’t” arguments)\n... also communicates quickly and effectively with external parties (such as investors, advisors)\n2) Serves as a prompt and checklist for catching gaps in our thinking processes (check riskiest assumptions)\n3) Should help develop and exercise empathy for the user\n
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  • #45 Who here knows the Business Model Canvas?\nWho has used it?\nOnce you did it, where did it go? Did you revise it? Is it on a wall or in a drawer?\n\nExternalizing personas, BMCs, etc serves a few purposes:\n\n1) Develops a shared team vision (no “user wants this” “no he doesn’t” arguments)\n... also communicates quickly and effectively with external parties (such as investors, advisors)\n2) Serves as a prompt and checklist for catching gaps in our thinking processes (check riskiest assumptions)\n3) Should help develop and exercise empathy for the user\n
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