CEED Go-To-Market - day 2November 5th 2012

Tilen Travnik, D·Labs

Minimum Viable Product

@tilentravnik• Dad, husband, geek

• 10+ years of internet product development

• CSM, CSPO, MBA (not to be taken seriously)

• Assembled and ran 10+ product teams

• Clients: Telekom, Marand, Studio Moderna, Zemanta ...

Books

Spaghetti Challenge 1

A bit of theory

Definitions

• The Minimum Viable Product or MVP is a strategy used for fast and quantitative market testing of a product or product feature

• The minimum viable product is that version of a new product which allows a team to collect the maximum amount of validated learning about customers with the least effort.

Wikipedia & Lean Startup

More definitions

• MVP is a tactic for reducing wasted engineering hours.

• MVP is a strategy to put the product into the hands of earlyvangelists asap.

Why MVP often fails• You haven’t figured out how to provide a

simple value proposition that differentiates your product from your competition.

• You haven’t identified who the early adopter for the product is.

• You have statistically calculated the correct feature set and did not use judgement.

femgineer.com/2012/10/2-reasons-mvps-fail/ & Lean Startup

Unjustified Fears• Legal issues, patents (get a professional

oppinion)

• Branding (big brands launching ebarrasing products)

• Tefth of ideas

• Fear of false negative

Data Sources for MVP• Sell a wireframe

• Sell an idea

• Watch people use competition

• Usage data

• Helpdesk

• Whatever you do ... Get outside the building!

MVP Grooming

• Burn-rate

• Pareto principle

• MoSCoW

• Prediction Markets

Do not add features that will only get one more customer!

Steve Blank, Startup Owner’s Manual

Quality of MVP

• If you do not know who the customer is, you can not know what quality is (Ries).

• There is a difference between being sloppy and not having features.

• Good UX is a priority.

Set a release date for your MVP before starting.

Developing the MVP is the only time when you will have total influence

over your product.

After you launch the MVP, your customers will inform the

development.

Steve Blank, Startup Owner’s Manual

MVP ApproachesCase discussions

The Video MVP

• Only make a sexy video (or other add), no product.

• Alow users to sign into a waiting list.

• Cool case: Dropbox

The Concierge MVP

• You make nothing, not even an add.

• You literally search for customers offline.

• You become a service for your first customer.

• Cool case: www.foodonthetable.com

Google's G+ MVP

• Sometimes MVP needs to be a mature product.

• Google can match Facebook in features, but can not steal user engagement.

• Slightly less cool case: Google +

Some more cases

• House builders MVP

• Spinout MVP

• ...

Spaghetti Challenge 2

MVP Workshop

Hand in your homework

Pitch your MVP in one minute

Organize into groups

Re-write your feature list(20 minutes)

Userstory workshop

MoSCoW

Userstory workshop

Crowdfunding of MVPs