how to get your minimum viable product (mvp)

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MVP: The Steps After Ideation GROWTH HACKING ASIA

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MVP: The Steps After IdeationGROWTH HACKING ASIA

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Why do an MVP?

BIGGEST RISK IS MAKING SOMETHING

NOBODY WANTS

* according to CB Insights, https://www.cbinsights.com/blog/startup-failure-reasons-top/

This happens 42% of the time *

3

MVP & Lean Startup

A Minimum Viable Product is an experiment that allows a team to

maximise validated learning about customers with the least

effort.

4

Build

MeasureLearn

Ideas Product

Data

5 Source: http://www.themacro.com/

6 Source: http://www.themacro.com/

7 Source: http://www.themacro.com/

Product-market fit

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Product Market Fit

“It is being in a good market, with a product that

can satisfy that market”MARC ANDREESSEN

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TYPES OF MVPS

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CONCIERGE MVPGroupon started with just a WordPress blog and manually sending PDFs with the first vouchers

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LANDING PAGELyft kicked off recruitment by first tracking

conversions on a landing page to hire drivers.

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VIDEO MVPDropbox explored with a series of MVPs to help tie

down what really resonated with users before building the product

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A lo-fidelity wireframe can be useful for testing quick hypotheses. Don’t spend effort making them

look good!

WIREFRAMES

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INTERACTIVE MOCKUPS

DEMO

Put interactive, hi-fidelity mockups in front of users to observe and gain important feedback.

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What is NOT an MVP?

AN MVP IS NOT A CHEAPER PRODUCT NOR THE

SMALLEST COLLECTION OF FEATURES

Beware of building cheap MVPs that will lead you astray. Validated learning trumps

saving money.

Source: Tech Crunch

Source: Tech Crunch

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When to Build a Product MVP?

Once you’ve validated some of the fundamental hypotheses of

your business

You are ready to commit resources to building it

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What is a User Story?

A high level requirement that provides value to a specific user

As a <type of user>, I want <some goal>

so that <some reason>.

FOR EXAMPLE

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What shouldn’t be a user story

Technical tasks

Design tasks

Fixing bugs, or managing servers, etc.

Fixing bugs, or managing servers, etc.

Throw stories away after they are delivered!

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PRIORITIZE

Empathy Stickiness Virality Revenue Scale

A list of stories with all equal prioritisation is failure to prioritise.

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I CAN’T GET A TAXI WHEN I NEED IT

THE MOST

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15 MINS

CHOOSE AND DESIGN AN MVP

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15 MINS

USER STORIES FOR A PRODUCT MVP

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Q&A