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MVP Prioritization: How to Choose Your Favorite Child

MVP Prioritization: How to Choose Your Favorite Child

How do you make the hard choices to get your product off on the right foot? Intended for early stage founders, this presentation walks through testing your riskiest assumption using frameworks such as Lean Canvas, the core tenets of building an MVP, and prioritization techniques such as Impact/Effort and Kano model to help you determine your highest value proposition.

We'll also walk through clear case studies of MVPs in the real world, both in larger companies and early-stage startups alike.

Regan Davis

March 04, 2020
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  1. regan davis product leader from chicago, il BACKGROUND Director of

    Product @ SpotHero VP of Product @ Jellyvision VP of Product @ info.com regandavis.com
  2. (credit: Diffusion of Innovation, Rogers Adoption Curve) regandavis.com adoption curve

    innovators early adopters early majority late majority laggards
  3. (credit: leanstack.com) regandavis.com MVP Talk - MVP Talk Lean Canvas

    is adapted from The Business Model Canvas (BusinessModelGeneration.com) and is licensed under the Creative Commons Attribution-Share Alike 3.0 Un-ported License. PROBLEM I need clear actionable steps to know if I'm on the right path I don't know how to prioritize features for my MVP I need coaching on how to apply theory to my actual business. EXISTING ALTERNATIVES SOLUTION Walk through an approach to determine where to start. Explain basic prioritization techniques Case studies using real entrepeneurs UNIQUE VALUE PROPOSITION Build a Minimum Viable Business and have the Judgement to Know Where to Invest Your Time. HIGH-LEVEL CONCEPT Business Books for People who don't have time to read UNFAIR ADVANTAGE Humorous and casual approach Willingness to talk about own failure Chicago Product company credibility CUSTOMER SEGMENTS Startup Founders Product Managers Small Business Owners EARLY ADOPTERS Pre-Build Phase Startup Founders KEY METRICS NPS Score of 50+ Asked to present again for next cohort 3+ requests for mentoring CHANNELS In-person Presentation (1 hr workshop) Followup questions via email / downloads COST STRUCTURE Personal time (30 hrs at $50/hr to recoup in 1yr) $7/mo license for slides ($84 amortized across talks) $12/mo license for hosting ($144 amortized across talks) REVENUE STREAMS Offers for free coffee 1x/mo Testimonials to help book pd speaking engagements LinkedIn Network recommendations
  4. (credit: leanstack.com) regandavis.com MVP Talk - MVP Talk Lean Canvas

    is adapted from The Business Model Canvas (BusinessModelGeneration.com) and is licensed under the Creative Commons Attribution-Share Alike 3.0 Un-ported License. PROBLEM I need clear actionable steps to know if I'm on the right path I don't know how to prioritize features for my MVP I need coaching on how to apply theory to my actual business. EXISTING ALTERNATIVES SOLUTION Walk through an approach to determine where to start. Explain basic prioritization techniques Case studies using real entrepeneurs UNIQUE VALUE PROPOSITION Build a Minimum Viable Business and have the Judgement to Know Where to Invest Your Time. HIGH-LEVEL CONCEPT Business Books for People who don't have time to read UNFAIR ADVANTAGE Humorous and casual approach Willingness to talk about own failure Chicago Product company credibility CUSTOMER SEGMENTS Startup Founders Product Managers Small Business Owners EARLY ADOPTERS Pre-Build Phase Startup Founders KEY METRICS NPS Score of 50+ Asked to present again for next cohort 3+ requests for mentoring CHANNELS In-person Presentation (1 hr workshop) Followup questions via email / downloads COST STRUCTURE Personal time (30 hrs at $50/hr to recoup in 1yr) $7/mo license for slides ($84 amortized across talks) $12/mo license for hosting ($144 amortized across talks) REVENUE STREAMS Offers for free coffee 1x/mo Testimonials to help book pd speaking engagements LinkedIn Network recommendations
  5. regandavis.com “Have your engineers help with customer validation. They should

    know the problem better than you do.” —Greg Svitak, Head of SpotHero Labs
  6. biz model risks your customer and problem are aligned your

    problem represents a monetizable pain you have a path (or can build one) to customers regandavis.com (credit: Ash Maura, Running Lean) target market revenue stream channels
  7. regandavis.com “If you use [low hanging fruit] to prioritize what

    to build next, you’ll end up with a product full of easy solutions.” —Teresa Torres, Product Talk
  8. regandavis.com make your user successful • What is the heart

    of this idea? • How does the user derive value from this idea? • What is the smallest piece of work we can do to capture that value? (credit: Teresa Torres — "How you Build Matters", Product Talk)
  9. regandavis.com (diagram: Kano model) fully implemented not implemented satisfied unsatisfied

    linear (performance) threshold (must be) exciters (delighters)
  10. regandavis.com threshold (must be) linear (performance) exciter (delighter) basic expectations,

    ”table stakes” implement as lightly as you can to stop complaints core features, ”unique value proposition” implement more fully and market them unexpected ”delight” add as time permits to aid retention
  11. regandavis.com let’s try it copy and paste can make phone

    calls loads desktop web pages camera stock market tracking touch-based keyboard only capacitive touch (no stylus) GPS map navigation 3.5 in screen
  12. regandavis.com (diagram: Kano model) fully implemented not implemented satisfied unsatisfied

    linear (performance) threshold (must be) exciters (delighters)
  13. Diagram courtesy of Jussi Pasanen, with acknowledgements to Aarron Walter,

    Ben Tollady, Ben Rowe, Lexi Thorn and Senthil Kugalur. regandavis.com
  14. brian fritton CEO & Founder, Havoc Shield BACKGROUND CEO &

    Founder @ Havoc Shield VP of Engineering @ Civis Analytics CTO @ Patch of Land regandavis.com
  15. ”red team in a box” original value proposition regandavis.com target

    market revenue stream channels for small businesses
  16. regandavis.com ”Brian, I don’t even know what the top 5

    most impactful things I should do are.” ”I really just want to answer these security questionnaires to get this deal closed.”
  17. regandavis.com ensure you’re staying on target with your market use

    analytics to measure if your guess was right keep learning — talk to your early adopters often focus on who measure what ask why
  18. regandavis.com “Double down on the core of what makes your

    product great.” —Emmet Shear, Co-Founder of Twitch
  19. biz model risks your customer and problem are aligned your

    problem represents a monetizable pain you have a path (or can build one) to customers regandavis.com (credit: Ash Maura, Running Lean) target market revenue stream channels
  20. regandavis.com make your user successful • What is the heart

    of this idea? • How does the user derive value from this idea? • What is the smallest piece of work we can do to capture that value? (credit: Teresa Torres — "How you Build Matters", Product Talk)
  21. (diagram courtesy of Jussi Pasanen, with acknowledgements to Aarron Walter,

    Ben Tollady, Ben Rowe, Lexi Thorn and Senthil Kugalur.) regandavis.com
  22. (credit: leanstack.com) regandavis.com MVP Talk - MVP Talk Lean Canvas

    is adapted from The Business Model Canvas (BusinessModelGeneration.com) and is licensed under the Creative Commons Attribution-Share Alike 3.0 Un-ported License. PROBLEM I need clear actionable steps to know if I'm on the right path I don't know how to prioritize features for my MVP I need coaching on how to apply theory to my actual business. EXISTING ALTERNATIVES SOLUTION Walk through an approach to determine where to start. Explain basic prioritization techniques Case studies using real entrepeneurs UNIQUE VALUE PROPOSITION Build a Minimum Viable Business and have the Judgement to Know Where to Invest Your Time. HIGH-LEVEL CONCEPT Business Books for People who don't have time to read UNFAIR ADVANTAGE Humorous and casual approach Willingness to talk about own failure Chicago Product company credibility CUSTOMER SEGMENTS Startup Founders Product Managers Small Business Owners EARLY ADOPTERS Pre-Build Phase Startup Founders KEY METRICS NPS Score of 50+ Asked to present again for next cohort 3+ requests for mentoring CHANNELS In-person Presentation (1 hr workshop) Followup questions via email / downloads COST STRUCTURE Personal time (30 hrs at $50/hr to recoup in 1yr) $7/mo license for slides ($84 amortized across talks) $12/mo license for hosting ($144 amortized across talks) REVENUE STREAMS Offers for free coffee 1x/mo Testimonials to help book pd speaking engagements LinkedIn Network recommendations