roger van duinen - lunch & learn march 3, 2017
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Confidential Property of Varo Money Inc.
How to create an MVP
Confidential Property of Varo Money Inc.
MVP is the Minimum Viable Product a
business should bring to market
Confidential property of Varo Money Inc.
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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Confidential property of Varo Money Inc.
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
Confidential Property of Varo Money Inc.
The Key to “the Right” MVP is to Understand the Key Factors
to Solve in the Effort
Confidential property of Varo Money Inc.
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
@rogervand
Roger Van Duinen
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