4th Nov 15 - Creating Great Minimum Viable Products - Alex Elkins

CREATING A GREAT MVP

Feline

Fine

A smart collar for the smart owner

Health

GPS tracking

Boundary alerts

Food monitoring

Mobile app – data mapping

Links to your vets pet records

Business case

• 18 months to profit• Looking for 500K investment• Primary market is cat owners• Looking to partner with pets stores, pet food brands

and veterinary medicine/ insurance companies

First beta available

• Collar £125 (normally £200)• Personalised app including alerts• Emergency 24hr support/ vet hotline• Optional Monthly subscription £25 – includes

dry food and worm/ flea treatments, pet insurance and exclusive pet offers

Would you buy one?

It was all a ruse

Testing a hypothesis

“would cat owners value this service enough to spend £125 on the ‘Feline fine’ collar to monitor and support their cat’s wellbeing”

Existing products$149

$149

$450

Learning

• Product is priced too highly?• Cat owners don’t want additional

up front cost• Cat owners are cat owners for a

reason

MVP

Using prototypes/ experiments to test hypotheses and learn to progress, pivot or shutdown

development

Handover to Brian