M.V.P.

Lean Startup stuff
Taiwan Startup Stadium "42"
April 18, 2016

@chingmei

Minimum Viable Product

Definition: The MVP is that version of a new product which allows a team to collect the maximum amount of validated learning with the least effort.

Translation: a quick and cheap ("ghetto fabulous") way of producing something for learning purposes.

Interpretation: You have ABSOLUTELY NO IDEA (nor money for) what you're doing and need fast, cheap ways to validate it before committing too much.

TRADITIONAL PRODUCT DEVELOPMENT

Unit of Progress: Advance to Next Stage

Lean Product Development

(Unit of Progress: minimize total time to next iteration)

Waterfall vs. Lean

ACHIEVING FAILURE

Definition: *Successfully* executing a bad plan!

If we're building something nobody wants,
NONE OF IT MATTERS!

Marketing is not "sales", but the science of knowing what people who buy your product repeatedly think of that product and whether they will buy it again, and why.

~ W Edwards Deming

7 Ways of MVP-ING

explainer Video

Landing Page

Wizard of Oz ("flinstoning')

Concierge

PieceMeal MVP

Raise Funds from Customers

Single Feature MVP

（記好，接下來要考試！）

1. Explainer Video

Definition: A video that explains what your product/service does BEFORE the product/service actually exists.

Explain your product in a simple, short video.

Measure what the response is before building anything.

2. Landing Page

Build simple landing pages and/or "fake" buttons.

Set up Adwords/Google Analytics.

If people don't even click on the fake stuff,

who will buy the real stuff?

3. Wizard of Oz (or "flinstoning)

Origins: "A nutcase who rules a magical land from behind a curtain, despite being only 1.9 foot fall."

A person "behind the curtain", offering a magical service/product,

but executing on it manually.

4. Concierge

Definition: a hotel employee whose job is to assist guests by booking tours, making theatre and restaurant reservations, etc.

Instead of a product, start with a manual service.

5. PieceMeal MVP

Definition: 一點一點地 ......

This strategy is a cross between (3) and (4) (name them!).

Emulate the steps people would go through using your product/service (as you envision it).

BUT, instead of delivering them manually,

use existing tools!

6. Raise Funds from Customers

In today's terms: Crowdfund it.

through e.g., kickstarter, indiegogo, flyingV.

7. Single Feature MVP

Definition: Launch with ONE feature.

The value of simplicity:

Solving 80% of the original problem for 20% of the effort is a major win. The original problem is almost never so bad that it's worth five times the effort to solve it.

~37 Signals blog post "Signal to Noise"