intro to mvps
DESCRIPTION
A brief talk on minimum viable products, for the talented teams at the 2014 NEXT pre-accelerator in Los Angeles. Originally given May 7, 2014.TRANSCRIPT
An Intro to MVPs
For NEXT Los Angeles, 2014 @skotcarruth
An Intro to MVPs(A Minimum Viable Presentation)
For NEXT Los Angeles, 2014 @skotcarruth
What is an MVP?
For NEXT Los Angeles, 2014 @skotcarruth
…it depends
• stage of your company
• your industry and competition
• whom you ask
For NEXT Los Angeles, 2014 @skotcarruth
The Super-Lean Answer
The smallest thing you can create to learn the next thing you need to learn.
For NEXT Los Angeles, 2014 @skotcarruth
The Product Smoke Test
• SEM
• Sign-up page
• Kickstarter
For NEXT Los Angeles, 2014 @skotcarruth
The Product Smoke Test
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The Product Smoke Test
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For NEXT Los Angeles, 2014 @skotcarruth
For NEXT Los Angeles, 2014 @skotcarruth
The Product Answer
The most efficient thing you can build to deliver customer value.
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The Concierge MVP
• Manual
• “Wizard of Oz”
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For NEXT Los Angeles, 2014 @skotcarruth
For NEXT Los Angeles, 2014 @skotcarruth
Nick Swinmurn
For NEXT Los Angeles, 2014 @skotcarruth
What is the value?
Customer Development
ProfitableProduct?
For NEXT Los Angeles, 2014 @skotcarruth
What is the value?
Customer Development
ProfitableProduct?MVP
For NEXT Los Angeles, 2014 @skotcarruth
What is the value?
Customer Development
ProfitableProductMVP
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What do you test?
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…it depends
What do you need to learn?
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How do I test it?
Low Fidelity High Fidelity
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Low Fidelity MVPs
• SEM campaign
• paper prototype
• rough functional prototype
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High Fidelity MVPs
• Well-produced teaser video or landing page
• Solid single-feature product
For NEXT Los Angeles, 2014 @skotcarruth
For NEXT Los Angeles, 2014 @skotcarruth
For NEXT Los Angeles, 2014 @skotcarruth
What sort of metrics should you use?
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…it depends
What is important to your business? What is your success criteria?
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AARRR• Acquisition
• Activation
• Retention
• Revenue
• Referral
From Dave McClure: http://www.slideshare.net/dmc500hats/startup-metrics-for-pirates-long-version
For NEXT Los Angeles, 2014 @skotcarruth
Subscription
• Monthly Recurring Revenue (MRR)
• Active subscriptions
• Lifetime Value (LTV)
• Churn
From Thoughtbot: http://playbook.thoughtbot.com/#subscription-metrics
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Be Metrics-Driven
From Buffer: https://buffer.baremetrics.io/dashboard
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Discussion
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