For Founder Institute, Chisinau 2017. Building minimum viable products.

1. Building MVPs
Jordan Valdma,
API & Global Partnerships @ TransferWise
Twitter: @JordanValdma
For Founders Institute, Chisinau 2017

2. The scientific method
Image via wired.com

3. The scientific method
Image via wired.com

4. Minimum Viable Product
Minimum Viable Product 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

5. Data driven decisions

6. KPI Examples
Monthly New or Active Users
● MoM (Month over month
growth)
● If growth is accelerating

7. KPI Examples
Conversion funnel
● % of people converted
● Measure the dropouts
image via Google search

8. KPI Examples
Net Promoter Score
● How likely are you to
recommend this product?
Image via vertafore.com

9. What vs Why
Quantitative data usually tells you what,
not necessarily why - talk to your customers.
You are not your customer.

10. Build Measure Learn Cycle
Image via extremeuncertainty.com

11. MVP Exemplified
image via Google search

12. Pivoting
“a structural course correction to test a new fundamental hypothesis about a
product, strategy [or] engine of growth.” The Lean Startup
White iterating involves small changes like altering a product price, pivoting
involves substantial changes like identifying a better target market.

13. Pivoting & team
Startups that pivot once or twice raise
2.5x more money, have 3.6x better
user growth,
and are 52% less likely to scale
prematurely than startups that pivot
more than 2 times or not at all.
● 2-3 founders seems optimal
Source - Startup Genome Report

14. Thank you!
@JordanValdma