SCRUMDAY PORTUGAL CONFERENCE OCTOBER 2016 Things to Consider to Ensure a Successful Minimum Viable Product (MVP) Tom Friend Business Agility Consultant Interna6onal Ins6tute for Learning PMI-ACP, CSP, PSM & Airline Transport Pilot
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SCRUMDAY PORTUGAL
CONFERENCE OCTOBER 2016
ThingstoConsidertoEnsureaSuccessfulMinimumViableProduct(MVP)
TomFriend BusinessAgilityConsultant Interna6onalIns6tuteforLearning PMI-ACP,CSP,PSM&AirlineTransportPilot
Corporate IT • Agile Scrum Coach - Instructor • 12+ Years Agile Scrum Experience • 25+ Year IT Application Dev
Military / Aviation • US Naval Aviator & Air Force Pilot • Air War College / Honors Graduate • Squadron Commander
TOM FRIEND, PMI-ACP, CSP, PSM, ATP
LEARNING OBJECTIVES
1. MVP case studies: (Dropbox, Airbnb, Twitter) 2. Define what a MVPs actually looks like. 3. Discuss the 4 Stages and 9 steps of the Lean Canvas. 4. Reflect on why MVPs fail using the Lean Canvas Risks. 5. Review patterns for MPV Validation. 6. How to launch a MVP and get is out the door.
DROPBOX – EXPLAINER VIDEO
Source: Dropbox
AIRBNB – CONCIERGE MVP
Source: AirBed And Breakfast Takes Pad Crashing To A Whole New Level
TWITTER - PROTOTYPE
Source: Famous First Landing Pages
MVP DEFINED § “Theminimumviableproduct(MVP)isastrategyused
forfastandquanAtaAvemarkettesAngofaproductorproductfeature.”
§ ThetermwascoinedbyFrankRobinsonandpopularizedbyEricRiesforwebapplicaAonsinhisLeanStartupMethods.
WELL, WHAT DOES ERIC SAY?
EricRies,cofounder/CTOofIMVUandMVPproponent,definesanMVPasaversionofanewproductthatallowsforthemostlearningpossiblefortheleastamountofeffort.
BUILD - MEASURE - LEARN
Source: Build Measure Learn
LEAN CANVAS STAGES 1. Firstmakesureyouhaveaproblemworth
solving.2. ThendefinethesmallestpossiblesoluAon
(MVP).3. BuildandvalidateyourMVPatsmallscale
(demonstrateUVP).4. Thenverifyitatlargescale.
STEPS IN THE LEAN CANVAS
LEAN CANVAS AND RISKS
Source: The 10x Product Launch
PRODUCT RISK
GETTINGTHEPRODUCTRIGHT• Firstmakesureyouhaveaproblemworthsolving.• ThendefinethesmallestpossiblesoluAon(MVP).• BuildandvalidateyourMVPatsmallscale
(demonstrateUVP).• Thenverifyitatlargescale.
BUILDINGAPATHTOCUSTOMERS• FirstidenAfywhohasthepain.• Thennarrowdowntoearlyadopterswhoreallywantyourproductnow.
• It’sokaytostartwithoutboundchannels.• Butgraduallybuild/developscalableinboundchannels–theearlierthebe\er.
CUSTOMER RISK
MARKET RISK
BUILDINGAVIABLEBUSINESS§ IdenAfycompeAAonthroughexisAng
alternaAvesandpickapriceforyoursoluAon.§ Testpricingfirstbymeasuringwhatcustomers
say(verbalcommitments).§ Thenbywhattheydo.§ OpAmizeyourcoststructuretomakethe
businessmodelwork.
M IN MVP: MINIMALISM § Seizeyourunfairadvantagequickly§ FocusontheassumpAonstoavoidscopecreep§ StaytruetoyourproductDNA§ Keepitsimpleandexperimental
AFFORDABLE AND APPEALING?
Startbyunderstandingthedifferencebetweenthese2quesAons:§ Ques6onA:Howcanwebuildthesimplesttechnicallyfeasibleproduct?
§ Ques6onB:Howcanwebuildthesimplestproducttoresonatewithearlyadopters?
SEIZE THE ADVANTAGE QUICKLY
AccordingtoMatchist.comcofounder,StellaFayman,inapieceonMVPsforKISS-Metrics,balancethese3quesAonstostayontrack:§ AreresourcesdedicatedtosimplifyingtheMVP?§ AretheassumpAonsfocusedjustonthecorevalue?§ IsmyAmelineasleanaspossible?
KEEP IT SIMPLE AND EXPERIMENTAL
MVPssucceedbytesAngifthere’smarketdemandforanalternaAvewithoutobsessingoverfeatures. LimityourscopetotesAngjustthecorevalueofyourproduct,yougiveyourselfroomtofailwithoutbreakingthebank.
THE CUPCAKE MODEL “TheMVPisoneofthemostreferencedandleastunderstoodconceptsinmodernproductdevelopment"
Source: the cake model of product planning
TASTY TREAT !
Source: the cake model of product planning
THE V IN MVP: VIABILITY EstablishingandSustainingViability UnderstandingProductvs.BusinessViability§ DeterminingProductViability§ DeterminingBusinessViability HaveamethodforthequalitaAvemadness Giveyourproductalifeofitsown
MVP VS VIABLE PRODUCT
Source: Don’t Let The Minimum Win Over Viable, HBR Blog
Source: Don’t Let The Minimum Win Over Viable, HBR Blog
CONTINUAL VALIDATION
P IN MVP: PRODUCT & QUALITY Howtothinkaboutqualitywhenbuildingyournextproduct
Source: Moz, “7 unlikely recommendations for startups & entrepreneurs”
THE 8 DIMENSIONS OF PRODUCT QUALITY
5 MVP TECHNIQUES FOR TESTING YOUR HYPOTHESIS
1. Customer Interviews 2. Landing Pages 3. A/B Tests 4. Paper Prototypes 5. Pre-Order Pages
1. CUSTOMER INTERVIEWS
Source: Driving Corporate Innovation: Design Thinking vs. Customer Development
2. LANDING PAGES
Source: Idea to Paying Customers in 7 Weeks - How We Did It
3. A/B TESTS
Source: The Ultimate Guide to A/B Testing
4. PAPER PROTOTYPES
Source: Caryn Vainio, Winnie Chang, Adrian Kosmaczewski
5. PRE-ORDER PAGES
Source: Oculus Rift
MVP LAUNCH: GETTING IT OUT THE DOOR
• Don’tgetboggeddownbyunnecessarydetailsandoverheadwhenbuildingMVPs.
• GatherandvalidateassumpAons• Gooutandbuildit!• TestyourhypothesesintheMarket
PARTING THOUGHT
FrankLloydWrightprobablysaiditbeNerthananyone:§ “Youcanuseaneraseron
thedraQingtableorasledgehammerontheconstruc6onsite.”
QUESTIONS ?
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