MVP Startup Weekend World 2015

Transcript

1. MVP: Why we should care A very effective learning tool 1 Manuel Vidaurre http://about.me/manuel.vidaurre manuel.vidaurre@magmalabs.io
2. #SWWorld - Manuel Vidaurre - @mvidaurre Customers don’t care about your solution. They care about solving their problems 2
3. #SWWorld - Manuel Vidaurre - @mvidaurre Think problems Not solutions 3
4. #SWWorld - Manuel Vidaurre - @mvidaurre Think learning Test your assumptions 4
6. #SWWorld - Manuel Vidaurre - @mvidaurre Use MVP to prove or disprove your hypotheses 6
7. #SWWorld - Manuel Vidaurre - @mvidaurre Minimum: The absolute necessary features that are needed from day 1 to solve customers’ top problems 7
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   !NWJEBVSSF Brandon Schauer cupcake model 8
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   !NWJEBVSSF Brandon Schauer cupcake model 9
10. #SWWorld - Manuel Vidaurre - @mvidaurre Viable: Solve real world problems. What will customers “pay” for? 10
12. #SWWorld - Manuel Vidaurre - @mvidaurre Focusing on Product/Market Fit 12
13. #SWWorld - Manuel Vidaurre - @mvidaurre Types of MVPs 13
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    !NWJEBVSSF Types of MVPs • Problem Exploration • Product Pitch • Concierge 14 Tests the Riskiest Assumption associated with your Solution Hypothesis (in order of increasing opportunity cost)
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    !NWJEBVSSF Problem Exploration An interaction focused on customer’s problems to understand past behavior and urgency. (Learn, aka Customer Discovery) 16 Aim: Reproduce Problem Opportunity Cost: Very Low
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    !NWJEBVSSF Problem Exploration 17 Interview Strangers that fulfill your customer profile Face to face interviews Key: question about past behavior
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    !NWJEBVSSF MVP Problem Exploration • Scene of the Customer: go where the highest geographic density • Doppleganger: find someone already executing on your idea, do they have paying customers? • Conversation Starter • Menu: if you’re not sure what to build, have a bunch of fake features and see what people click on the most 18
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    !NWJEBVSSF Product Pitch Exchange of product for some form of currency: time, money, or work. (Confirm, aka Customer Validation) 20 Aim: Collect Currency Opportunity Cost: Very Low to Low
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    !NWJEBVSSF Product Pitch 21 Landing pages Asking for cash at the end of an interview Video Demos Fake Ads Kickstarting
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    !NWJEBVSSF MVP Product Pitch • Decreasing Discount: with a mockup you are poised to collect money from customers. When you close your first customer be sure to offer a large discount • Innovator: if there are people out there already solving the problem you’re focused on, find them and see if you can productize their tactics. • Better Alternative: try to sell customers of the existing market leader on why your proposed product is better • Meta: have your customer design the first version of your product 22
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    !NWJEBVSSF Concierge Manually delivering on the solution, as a service to the customer, to see if the delivery matches the customer’s expectations and makes them happy. (Learn or Confirm) 24 Aim: Deliver Customer Expectation Opportunity Cost: Medium
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    !NWJEBVSSF Concierge 25 Wizard of Oz is when you put up a front that looks like a real working product, but you manually carry out product functions Pure Concierge. Instead of providing a product, you start with a manual service. The service should consist of exactly the same steps people would go through with your product Piecemeal a blend between approaches. Again, you emulate the steps people would go through using your product – as you envision it. But instead of delivering them manually, you emulate them using existing tools.
27. #SWWorld - Manuel Vidaurre - @mvidaurre Progress through validated learning 27
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    !NWJEBVSSF Charge from day one, but collect on day 30 • Price is part of the product • Price defines your customers (segmentation) • Getting paid is the first form of validation 28
30. #SWWorld - Manuel Vidaurre - @mvidaurre Lean startup is about Big Vision Think Big Start Small Scale Fast 30
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    !NWJEBVSSF References (1) • Ries, Eric. The Lean Startup: How Today's Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses. New York: Crown Business, 2011. • Owens, Trevor, and Obie Fernandez. The Lean Enterprise: How Corporations Can Innovate like Startups. Wiley, 2014 • Blank, Steven G., and Bob Dorf. The Startup Owner's Manual the Step-by-step Guide for Building a Great Company. Pescadero, Calif.: K&S Ranch, 2012. • Maurya, Ash. Running Lean: Iterate from Plan A to a Plan That Works. 2nd ed. Sebastopol, CA: O'Reilly, 2012 32
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    !NWJEBVSSF References (2) • Ramli John, A Landing Page is NOT an MVP http://goo.gl/ qG9a5Q • Trevor Owens.10 Awesome MVPs from Lean Startup Machine http://goo.gl/sK4e4B • Lean Startup Machine. Building a successful MVP http:// goo.gl/jUL2Qb • Lean Startup Machine. Identifying and Learning from Your Target Customers http://goo.gl/MwsOO2 • Shardul Mehta, An MVP Is Not The Smallest Collection Of Features You Can Deliver http://goo.gl/3P9de3 33
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    !NWJEBVSSF References (3) • Kate Rutter. MVP: What it is and why we all (should) care http://goo.gl/ZKsoRK • Kate Rutter. From cold-sweat questions to hot validated learning http://goo.gl/QKoBvt • businessinbeta. I want my MVP! From idea to testable artefact http://goo.gl/TA4gqB • David Binetti. The Art of the Pivot http://goo.gl/biil8j • Hiten Shah. Creating Experiments to Test Hypotheses 34