Discuss L2, making an MVP• Agenda:– Discuss L2, making an MVP

• Coming Up:• Discuss Customer Segments (L3)• Report on Value Proposition (L2)

Developing a product

• For the FEW, not the many• Focus on the early evangelists– Are the most willing and eager– Have a problem or need– Understand they have a problem– Actively searching for a solution– May have interim solution– Committed/can quickly acquire ability to purchase

MVP and DiscoveryPhase Action Goal

Prepare for customer engagement

Build lo-fi MVPEngage customers

See if the vision of the need/problem matches and how important the problem is

Low Fidelity MVP Problem Test

Gradually increase invitations to MVP. Observe their behavior.Keep meeting customers.Consider if it can scale.

Understand the problem/need you are solvingDoes the customer care?

High Fidelity MVP test Invite more customersWatch for velocity (how fast are customers activated).

Determine whether customers will engageDiscover earlyvangelists who clearly believe

Optimize getting more customers

Hang the “open” sign and try to get wine race to get customers

Optimize get-customers strategy.

Low Fidelity MVP Strategy (web)

• Low-fidelity website – Describe the problem’s severity in words

• Does your office look like this?

– Describe the problem, encouraging users to “sign up to learn more”

– Shows screen shots of the solution (“pay your bills this way”)

– Could be wordpress, Powerpoint, Google sites– Could insert a survey using Google Forms

• Youtube video• You can use multiple MVPs

Low Fidelity MVP Strategy (product)

• Minimum– Slide-based, nonworking illustration or video– Shows the old way and the new way

• Options– Build out of styrofoam, wood, plastic– Sketches, 3-D drawing in Google Sketchup

• Goal:– Bring the product to life

Minimum Viable Products

Minimum Viable

Crappy products that nobody wants to use

Products build by companies with better financing.

Minimum + Viable: Good products that startups can build, test, and learn from

What do they look like?

• http://gethover.com/

Is there a cheaper, easier way to test if the customer will pay for your solution?

Web Examples

• http://blog.turnmvp.com/minimum-viable-product-examples/

• http://scalemybusiness.com/the-ultimate-guide-to-minimum-viable-products/

• Most basic approach– describe the problem's severity in words or pictures

• (“Does your office look like this?”)

– Describe (illustrate) your solution (“pay your bills this way”)– Asks users to “sign up to learn more” if they have this problem

• More tools• Landing page• http://www.landerapp.com/

Let’s Try It

VP Out-of-the-building blog posts• Narrative – describe what you did, and who did it

– Your major goal for the week – what were you trying to do?• Restate value proposition hypotheses

– Describe Interviews, Surveys• Report # of customers (>5 customers/team member) interviewed• What did potential customers think about your value proposition hypotheses?• Describe insightful interviews in detail• Illustrate with Videos, photos

– Other progress: Show MVP– Any other detail that is helpful

• Describe major insights• Show updated Business Model Canvas (Scorekeeping) and

reasons for changes

Wrap-up

• Key Take-aways:– Bring the idea to life with an MVP– MVP can help you test

• Coming Up:• Discuss Customer Segments (L3)• Report on Value Proposition (L2)