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Discuss L2, making an MVP

Discuss L2, making an MVP. Agenda: Discuss L2, making an MVP Coming Up : Discuss Customer Segments (L3) Report on Value Proposition (L2). Developing a product. For the FEW, not the many Focus on the early evangelists Are the most willing and eager Have a problem or need

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Discuss L2, making an MVP

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  1. Discuss L2, making an MVP • Agenda: • Discuss L2, making an MVP • Coming Up: • Discuss Customer Segments (L3) • Report on Value Proposition (L2)

  2. Developing a product • For the FEW, not the many • Focus on the early evangelists • Are the most willing and eager • Have a problem or need • Understand they have a problem • Actively searching for a solution • May have interim solution • Committed/can quickly acquire ability to purchase

  3. MVP and Discovery

  4. Low Fidelity MVP Strategy (web) • Low-fidelity website • Describe the problem’s severity in words • Does your office look like this? • Describe the problem, encouraging users to “sign up to learn more” • Shows screen shots of the solution (“pay your bills this way”) • Could be wordpress, Powerpoint, Google sites • Could insert a survey using Google Forms • Youtube video • You can use multiple MVPs

  5. Low Fidelity MVP Strategy (product) • Minimum • Slide-based, nonworking illustration or video • Shows the old way and the new way • Options • Build out of styrofoam, wood, plastic • Sketches, 3-D drawing in Google Sketchup • Goal: • Bring the product to life

  6. Minimum Viable Products Minimum + Viable: Good products that startups can build, test, and learn from Viable Minimum Crappy products that nobody wants to use Products build by companies with better financing.

  7. What do they look like? • http://gethover.com/ Is there a cheaper, easier way to test if the customer will pay for your solution?

  8. Web Examples • http://blog.turnmvp.com/minimum-viable-product-examples/ • http://scalemybusiness.com/the-ultimate-guide-to-minimum-viable-products/ • Most basic approach • describe the problem's severity in words or pictures • (“Does your office look like this?”) • Describe (illustrate) your solution (“pay your bills this way”) • Asks users to “sign up to learn more” if they have this problem • More tools • Landing page • http://www.landerapp.com/

  9. Let’s Try It

  10. VP Out-of-the-building blog posts • Narrative – describe what you did, and who did it • Your major goal for the week – what were you trying to do? • Restate value proposition hypotheses • Describe Interviews, Surveys • Report # of customers (>5 customers/team member) interviewed • What did potential customers think about your value proposition hypotheses? • Describe insightful interviews in detail • Illustrate with Videos, photos • Other progress: Show MVP • Any other detail that is helpful • Describe major insights • Show updated Business Model Canvas (Scorekeeping) and reasons for changes

  11. Wrap-up • Key Take-aways: • Bring the idea to life with an MVP • MVP can help you test • Coming Up: • Discuss Customer Segments (L3) • Report on Value Proposition (L2)

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