Lean Startup Dojo: MVP
Download as PPT, PDF6 likes1,998 views
The document discusses minimum viable products (MVPs) which are the simplest version of a new product that allows a team to collect validated learning about customers with minimal effort. It defines MVP and explains why they are used to avoid building things nobody wants by following a build-measure-learn loop. Some myths about MVPs are debunked and examples of real-world MVPs are provided. Exercises are included to help identify hypotheses to test and create MVP tests.
Lean Startup Dojo: MVP
- 1. Lean Startup: Minimum Viable Products December 1, 2010 Rich Collins & Patrick Vlaskovits with input from Eric Ries
- 2. Today’s Agenda What is an MVP? Why do we use them? MVP Myths Examples Exercises
- 3. Similar Ideas: Quantum of Utility “ We advise startups to launch when they've added a quantum of utility : when there is at least some set of users who would be excited to hear about it, because they can now do something they couldn't do before.” -Paul Graham
- 4. Similar Ideas: Minimum Feature Set “ The reality is that the minimum feature set is 1) a tactic to reduce wasted engineering hours (code left on the floor) and 2) to get the product in the hands of early visionary customers as soon as possible.” -Steve Blank
- 5. Definition of MVP “… 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
- 6. Why MVP? Avoid building things nobody actually wants.
- 8. MVP Myths Minimalism may not be the goal. Aesthetics/design may matter. Not “release early, release often”! Not "one and done”
- 9. Iteration based on Validated Learning
- 10. Gall’s Law A complex system that works is invariably found to have evolved from a simple system that worked. A complex system designed from scratch never works and cannot be made to work. You have to start over, beginning with a working simple system. **"A simple system may or may not work."
- 11. Minimum is judgment call. It’s not always cheap.
- 12. MVP Examples from “Real World” Landing Page Smoke Tests (AdWords, Craigslist, Bill Gates, Dropbox) In-house built solution – Ovia Screenshots & LOIs (Sell the vision) Kickstarter Campaigns Wizard of Oz Links to nowhere (Zynga) Screencasts Infomercial Tests
- 13. Exercise: Hypotheses Write down all of the hypotheses that you'd like to test with a Minimum Viable Product. Prioritize them from most to least risky to the success of your startup
- 14. Exercise: Tests For the hypotheses with the highest priority, create some tests that could falsify them.
- 15. Exercise: MVP Series Consider the possible outcomes of the tests. What follow on tests could you create to gain further insight into the hypotheses.
Editor's Notes
- #5: You’re selling the vision and delivering the minimum feature set to visionaries not everyone.