LSMAccra_ConciergeMVP_SethAkumaniClaimSync
Post on 27-Jan-2015
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Seth Akumani@mawusey
CONCIERGE MVP
Co-founder @claimsync Customer Dev’t & Sales Co-organizer, Healthees AfricaSales Director @genkey
ABOUT ME
What is an MVP? What is a Concierge MVP? 3 Examples of Concierge MVPs Assumptions for Concierge MVPs Creating a Concierge MVP
WHAT WE WILL COVER
Find problem/solution
fit
Find product/market
fit
STARTUP MAIN GOALS
- Business Model - Repeatable sales process
-Problem worth solving-MVP
An MVP is the smallest solution thatdelivers customer value.
(Bonus: And captures customer value)
WHAT IS AN MVP?
“The minimum amount of effort you have to do to complete exactly one turn of the Build-Measure-Learn feedback loop.”
- Eric Ries
WHAT IS AN MVP?
*It is for learning not launching
A manual service that consists of exactly the same steps customers
would go through with your product.
“Concierge” (i.e. be the software)
WHAT IS A CONCIERGE MVP
Concierge MVP validates value proposition.
EXAMPLE: FOOD ON THE TABLE
• Creates weekly meal plans and grocery lists, and hooks into grocery stores to find best deals on ingredients
• MVP was basic service with one store – no software at all• Customers found through interviews in local
supermarkets• Signed up 1st customer and dropped off groceries
weekly.Collected $9.95 on each visit!
TRUE CONCIERGE
Complete manual service
EXAMPLE: ZAPPOS
THE WIZARD OF OZ
Illusion of backend functionality
• Nick (Founder) went to local shoe store, took photos of shoes and put them online
• Once the orders came in, he went to the store, bought the pair that was ordered, shipped it, handled payments, returns… all manually.
• He validated his theory that people will buy shoes online
EXAMPLE: CLAIMSYNC
ONE USE CASE
• Product functioned only for claims generation.• We signed up three hospitals as ‘beta testers’• Manually filled some claims at hospital site• All claims sent went to our own database!• Used this to learn about what hospitals’ needs.
Product works only for one use case
ASSUMPTIONS FOR A CONCIERGE MVP
• Who actually needs/wants to use this product• Is there sufficient demand for this product?• How do they use the product?• Will they pay for the product?• How much revenue can be made?• Is this a solution that can be productized?
see Business Assumptions exercise – www.giffconstable.com
Approach: What is the product hypothesis OR value proposition that will be tested? What does success look like? 1
CREATING A CONCIERGE MVP
Execution: How would you execute the MVP?(email, phone, in person)How many customers would you engage? Who are they? (names, roles, etc)
2
CREATING A CONCIERGE MVP
Learnings: What does the customer data confirm OR invalidate about the Concierge MVP? What hypothesis would you test next?3
CREATING A CONCIERGE MVP
Do you need to create a Concierge MVP?