Loading presentation...
Prezi is an interactive zooming presentation

Present Remotely

Send the link below via email or IM

Copy

Present to your audience

Start remote presentation

  • Invited audience members will follow you as you navigate and present
  • People invited to a presentation do not need a Prezi account
  • This link expires 10 minutes after you close the presentation
  • A maximum of 30 users can follow your presentation
  • Learn more about this feature in our knowledge base article

Do you really want to delete this prezi?

Neither you, nor the coeditors you shared it with will be able to recover it again.

DeleteCancel

Make your likes visible on Facebook?

Connect your Facebook account to Prezi and let your likes appear on your timeline.
You can change this under Settings & Account at any time.

No, thanks

MVP - Founders Institute

No description
by

Justin Wilcox

on 6 August 2013

Comments (0)

Please log in to add your comment.

Report abuse

Transcript of MVP - Founders Institute

What is an MVP?
Justin Wilcox
Blog:
CustomerDevLabs.com
Web Startup
where we messed up...
Mobile Apps
M
inimal
V
iable
P
roduct
"An MVP has just those features that allow the product to be
deployed
and no more."
Many definitions
- Wikipedia
- Venture Hacks
"An MVP is the product with just the necessary features to
get money
and
feedback
from early adopters."
- Lean Startup Machine
"The
simpliest
version of your product, that tests your
riskiest assumption
."
The
least
amount of work you can do to...
...
test
a piece of your business model.
Can you have more than one MVP?
Yes.
Story time
What if you don't build an MVP?
I'm working at Microsoft
"Our company needs a way to scan & share medical records online."
- Family friend
"Great! It'll be done shortly."
18 months later
We finally launch!
But they barely use us...
We didn't ask the hard questions
1. How
exactly
does your business work?
2.
When
would you use our product?
3.
How
often does that happen?
4.
Who
has to
approve
the use of our product?
Tried to Sell it to other Companies
Conferences & cold calls
No one wanted it
We weren't solving a major
pain
for them
Lower price?
Weren't losing sleep
How would their customers benefit?
Over 18 months, the market changed
Wasted
18
months
$
50
k
a new idea
electronic Release of Information
1st MVP
Riskiest Hypothesis:
solving a problem?
cold email
MVP:
10
Cold Emails:
5
replies
Conclusion:
solves a problem
Riskiest Assumption:
they'll pay
MVP:
PowerPoint
5
Meetings:
0
payments
Conclusion:
won't pay
Wasting
18
months building a product
3
months to discover...
6
months trying to sell it
there was no business
A PowerPoint MVP saved
21
months

$
50
k

Your MVP?
b2c MVP
be on time iPhone app
1st MVP
Riskiest Hypothesis:
we can build it
prototype
MVP:
24
hours

yes we can
Next MVP
Riskiest Hypothesis:
solve a problem?
landing page
MVP:
1
month

iPhone signups:
3,000
Conclusion:
solves a problem
Next MVP:
iPhone version
?
Riskiest Assumption:
we'll make $
Conclusion
Web Startup
where we messed up...
Mobile Apps
What is an MVP?
"Simplest version of your product that tests your
riskiest assumption
"
Etc.
Crowdfunding project
Prototype
PowerPoint
Landing page
Will it work?
What makes you nervous?
"An MVP has just those features that allow the product to be
deployed
and no more."
Many definitions
- Wikipedia
- Venture Hacks
"An MVP is the product with just the necessary features to
get money
and
feedback
from early adopters."
- Lean Startup Machine
"The simpliest version of your product, that tests your
riskiest hypothesis
."
The
least
amount of work you can do to...
...
test
a piece of your business model.
Can you have more than one MVP?
Yes.
Product
Will customers care?
Will they pay?
Marketing?
Price point?
Best customer segment?
B
A
B
A
B
A
Conclusion:
$.20/visitor
Riskiest Assumption:
customers will discover it
Next MVP:
sharing experiment
I have to code sometime...
demos
36 Hours
3 features
Riskiest Assumption:
he'll pay
MVP:
smoke & mirrors
"I have asked corporate we strongly consider using Breeze"
Result
Full transcript