startup mba 2.2 - mvps in practice

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mvps in practice http://startupmba.foundercentric.com

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Page 1: Startup MBA 2.2 - MVPs in practice

mvps in practice

http://startupmba.foundercentric.com

Page 2: Startup MBA 2.2 - MVPs in practice

[email protected] foundercentric.com @foundercentric !Mailing list: http://bit.ly/fc-list

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FORM & FUNCTION

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FORM FOLLOWS FUNCTIONAn objects shape should be based on and exhibit it's primary purpose.

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Good design is as little design as possible”Dieter Rams

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PERFORMANCE VERSUS PREFERENCEThe designs that help people perform optimally are often not the same as the designs they find most desirable.

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PERFORMANCE VERSUS PREFERENCE

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PERFORMANCE VERSUS PREFERENCE

Dvorak

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HIERARCHY OF NEEDSBased on Maslow's

Hierarchy of Needs

FUNCTIONALITY

RELIABILITY

USABILITY

PROFICIENCY

CREATIVITY

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THE ANATOMY OF A GOOD MVP

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WHAT IS AN MVP, REALLY?

An MVP is the smallest thing you can build that tests your business.

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WHAT IS AN MVP, REALLY?

An MVP is the smallest thing you can build that tests your business.

NO!

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WHAT IS AN MVP, REALLY?

An MVP is an experiment that tests a critical, falsifiable hypothesis of your business.

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DESIGNING A GOOD EXPERIMENT

MVP

customers learnin’

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SO, WHAT IS AN MVP?

MVPs are just a tool to conduct fast, measurable customer learning.

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THREE OF MVPs

TYPES

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THREE METHODS OF LEARNING

Exploration

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Pitch

THREE METHODS OF LEARNING

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Concierge

THREE METHODS OF LEARNING

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AN MVP IS CUSTOMER VALIDATED LEARNING

The MVP is just the vehicle. Decide what you need to test and choose your weapon.

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EXPLORATION1

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“OK...

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“OK... I WANT TO CREATE AN ONLINE MARKET PLACE

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“OK... I WANT TO CREATE AN ONLINE MARKET PLACE FOR FINE MARBLE SCULPTURES”

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LET’S DESIGN A TEST!

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LET’S DESIGN A TEST!

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LET’S DESIGN A TEST!

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EXPLORE IS GREAT WHEN• You have an early idea • You don’t know what budget you belong to • You don’t know how to segment your

customers • You don’t know how consistent your problem is

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PITCH2

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A PITCH MVP IS BASICALLY A LANDING PAGE

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A PITCH MVP IS “BASICALLY” A LANDING PAGE

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WHAT ARE MOST LANDING PAGES TESTING?

Usually, just if your copy describes a pain or problem that potential customers have

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If people have that problem? If people will pay for it? If a segment identifies with that problem?

WHAT DO YOU ACTUALLY WANT TO TEST?

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“AND WHAT IF MY PRODUCT ISN’T AN

APP?”

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PITCH IS GREAT WHEN...• You have an idea when / how people will buy

from you • You have an idea where customers would look

for you • You have an action you want to measure for

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CONCIERGE3

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BOB

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EMAIL

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CONCIERGE IS GREAT WHEN...

• Confident on your customer segment • Building a full solution is a large, uncertain

investment • You have an idea for a solution, but you’re not

sure how to execute it

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PROTOTYPE4

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A PROTOTYPE MVP IS THE “FUCK IT, LET’S TRY IT” OF MVPS

Perfect for when your company is creating novel value.

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PROTOTYPE IS GREAT WHEN...

• You have a novel solution that needs testing • The other three methods of learning can’t

execute the experiment

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A WARNING LABEL

A prototype MVP is still a throwaway experimentation tool. Not your first version!

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THE WRAP UP• MVPs are about designing falsifiable

experiments, not making first versions • Choose the tool that best tests your hypothesis • More often then not, that tool isn’t a landing

page • Keep them quick, sloppy, and disposable.