MVP: The Steps After Ideation GROWTH HACKING ASIA
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MVP: The Steps After IdeationGROWTH HACKING ASIA
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Why do an MVP?
BIGGEST RISK IS MAKING SOMETHING
NOBODY WANTS
* according to CB Insights, https://www.cbinsights.com/blog/startup-failure-reasons-top/
This happens 42% of the time *
3
MVP & Lean Startup
A Minimum Viable Product is an experiment that allows a team to
maximise validated learning about customers with the least
effort.
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Build
MeasureLearn
Ideas Product
Data
5 Source: http://www.themacro.com/
6 Source: http://www.themacro.com/
7 Source: http://www.themacro.com/
Product-market fit
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Product Market Fit
“It is being in a good market, with a product that
can satisfy that market”MARC ANDREESSEN
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TYPES OF MVPS
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CONCIERGE MVPGroupon started with just a WordPress blog and manually sending PDFs with the first vouchers
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LANDING PAGELyft kicked off recruitment by first tracking
conversions on a landing page to hire drivers.
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VIDEO MVPDropbox explored with a series of MVPs to help tie
down what really resonated with users before building the product
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A lo-fidelity wireframe can be useful for testing quick hypotheses. Don’t spend effort making them
look good!
WIREFRAMES
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INTERACTIVE MOCKUPS
DEMO
Put interactive, hi-fidelity mockups in front of users to observe and gain important feedback.
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What is NOT an MVP?
AN MVP IS NOT A CHEAPER PRODUCT NOR THE
SMALLEST COLLECTION OF FEATURES
Beware of building cheap MVPs that will lead you astray. Validated learning trumps
saving money.
Source: Tech Crunch
Source: Tech Crunch
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When to Build a Product MVP?
Once you’ve validated some of the fundamental hypotheses of
your business
You are ready to commit resources to building it
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What is a User Story?
A high level requirement that provides value to a specific user
As a <type of user>, I want <some goal>
so that <some reason>.
“
”
FOR EXAMPLE
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What shouldn’t be a user story
Technical tasks
Design tasks
Fixing bugs, or managing servers, etc.
Fixing bugs, or managing servers, etc.
Throw stories away after they are delivered!
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PRIORITIZE
Empathy Stickiness Virality Revenue Scale
A list of stories with all equal prioritisation is failure to prioritise.
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I CAN’T GET A TAXI WHEN I NEED IT
THE MOST
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15 MINS
CHOOSE AND DESIGN AN MVP
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15 MINS
USER STORIES FOR A PRODUCT MVP
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Q&A
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