roger van duinen - lunch & learn march 3, 2017

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Confidential Property of Varo Money Inc.

How to create an MVP

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MVP is the Minimum Viable Product a

business should bring to market

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An MVP is NOT a Prototype

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Prototype MVP

What are you selling The Dream The Product

Purpose Test FeasibilityProof of Concept

Getting to MarketBuying Information

AudienceAngel InvestorsStakeholders

VendorsCustomers

Stage Pre-Money Go to Market

Completeness Demonstrates Main Concept Fully-Functional, but Basic

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A Quick Example…

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MVP Cake

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Not An MVP Cake

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Good balance between spend and market product fit

Increase speed to market

Improve ability to raise money

Easier to hire people

More tangible story for the press

Fail Faster

Why consider an MVP at all?

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Each business will have its own reasons

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There are Different Ways to Think About MVP

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A Classic MVP Example

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A Traditional Approach

An MVP Approach

Image Courtesy of: Fred Voorhorst - www.expressiveproductdesign.com

What if your Customer Proposition is “We Get You There Fast”?

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A Twist on the Usual

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Usual Approach

Alternative Approach

Image Courtesy of: Fred Voorhorst - www.expressiveproductdesign.com

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The Key to “the Right” MVP is to Understand the Key Factors

to Solve in the Effort

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Minimum Banking Functionality (customer expectation)

Minimum Insights Functionality (customer expectation)

Minimum Chat functionality (customer expectation)

What’s achievable in a reasonable timeframe (burn down)

What our investors wanted to see (commitments)

Economics (what will generate revenue or get us the data we need)

What data we needed

Regulatory requirements

For Varo, the MVP was driven by:

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Now What?

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Get the Features you do build Right!

Understand (or Figure Out) the Key to Customer Delight

Minimize Friction in Your Product

Make Sure Your MVP is a Complete Experience

Feedback, Feedback, Feedback

Expect (and Plan) to Fail Before You Get it Right

Obsessive Focus on MVP

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Confidential Property of Varo Money Inc.

MVP Exercise

Confidential property of Varo Money Inc.

Co-Founder, CPO, & Head of Lending

roger@varomoney.com

@rogervand

Roger Van Duinen

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