Learning with MVPs
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This document discusses Minimum Viable Products (MVPs) and provides examples of different types of MVPs. It explains that MVPs allow you to collect validated learning about customers with minimal effort. Various MVP examples are given, including paper prototypes, landing pages, online campaigns, explainer videos, and single feature apps. The document emphasizes starting with simple MVPs and gathering customer feedback to reduce uncertainty and inform further product development.
![Gather Product/Market Fit Insights (Sean Ellis)
“How would you feel if you could no longer use [product]?”
“Very Disappointed” Actions
More than 40% Focus on retention cohorts, start
transitioning
Less than 40% Keep iterating product,
positioning, and targeting
Startup-Marketing.com](https://image.slidesharecdn.com/learningwithmvpsshared-180321132525/85/Learning-with-MVPs-26-320.jpg)
Learning with MVPs
- 1. MVP: your tool to faster learning and better products Nestholma Venture Accelerator
- 2. MVP’s come big and small
- 3. Minimum Viable Product (broad) Allows you to collect the maximum amount of validated learning about customers with the least effort - E. Ries
- 4. MVP for learning about the need Need MVP
- 5. Minimum Viable Product (strict) Smallest possible set of features that provide the core value of the product idea
- 6. MVP for learning about the solution Solution MVP
- 7. Validate the core value Then progress to features Core Features
- 8. What do your customers value? UX, content, a feature, pricing model, brand or something else?
- 9. Think about it MVP for a car?
- 11. MVP Prototype Concentrates on understanding the core value the final product should deliver Goal: test and validate with customers An early and simplified version of the main features of the product Goal: demonstrate and convince to customers vs.
- 13. Paper/digital prototypes as MVP’s • Test your idea, flow, UI concept etc. with customers using paper or, for ex., PowerPoint slides • Easy to iterate the next version • Good for testing functionality and usability Source: alistapart.com
- 14. Landing Page (Smoke test) • A type of Smoke Test that can be a sign-up page with basic info to test the interest. Without any functionality. • Example: Buffer.com
- 15. Online campaigns • Test the interest with an online campaign that leads to, for example, a smokescreen landing page • Adwords, Yahoo!Bing, Facebook Ads etc.
- 16. Explainer Videos • Show your product in action (even if it is not built yet) • Example: Dropbox https://dl.dropboxusercon tent.com/u/27532820/ori ginal_screencast.html
- 17. Concierge MVP Instead of providing a product, you start with a manual service. Everything is done manually until you know what customers, what steps are needed etc. Example: First versions of foodonthetable.com and AirBnB
- 18. Wizard of Oz MVP • A front that looks and feels like to real thing for the customer. • Behind the scenes, you do everything manually until you know what customers, what steps are needed etc. • Example: First version of Zappos.com
- 19. Piecemeal MVP • Use existing tools and services to build your service. Customer sees a new service, but behind the scenes it’s a combination of existing services and manual work to tie them together • Example: First version of Groupon
- 20. Single feature app • Build a basic app that only has one feature. The one that you believe provides the core value. Examples: • Foursquare: Check-in at a location • Google: search for something • Twitter: send short messages
- 21. Crowfunding campaign • Validate the product/market fit by with a crowdfunding campaign. • Invesdor, Kickstarter and others
- 22. Think about what is your Riskiest assumption
- 23. Risk = Probability x Impact
- 24. Start with simple MVP’s, polish them as you learn Fidelity Uncertainty time
- 25. Gather Product/Market Fit Insights (Sean Ellis) Pre-MVP feedback (interviews) • What % “must have”? • Why a “must have”? • Who loves it? Post-MVP feedback (surveys) • Verify problem exists • Understand importance • Any current solutions? Startup-Marketing.com
- 26. Gather Product/Market Fit Insights (Sean Ellis) “How would you feel if you could no longer use [product]?” “Very Disappointed” Actions More than 40% Focus on retention cohorts, start transitioning Less than 40% Keep iterating product, positioning, and targeting Startup-Marketing.com
- 27. Contact TopiJärvinen +358 40 754 3131 [email protected] http://www.nestholma.com