Scrum Day Portugal 2017 MVP Presentation
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Tom Friend discusses key considerations for ensuring a successful Minimum Viable Product (MVP). He outlines case studies of early MVPs from Dropbox, Airbnb, and Twitter. Friend defines an MVP as the smallest version of a new product that allows for the most learning with the least effort. He discusses the four stages and nine steps of the Lean Canvas model and how it can be used to reduce risks. Friend then reviews five techniques for testing hypotheses with an MVP: customer interviews, landing pages, A/B tests, paper prototypes, and pre-order pages. He emphasizes the importance of gathering assumptions, building quickly, and testing in the market.
Scrum Day Portugal 2017 MVP Presentation
- 2. 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
- 3. 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.
- 4. DROPBOX – EXPLAINER VIDEO Source: Dropbox
- 5. AIRBNB – CONCIERGE MVP Source: AirBed And Breakfast Takes Pad Crashing To A Whole New Level
- 6. TWITTER - PROTOTYPE Source: Famous First Landing Pages
- 7. MVP DEFINED § “The minimum viable product (MVP) is a strategy used for fast and quanAtaAve market tesAng of a product or product feature.” § The term was coined by Frank Robinson and popularized by Eric Ries for web applicaAons in his Lean Startup Methods.
- 8. WELL, WHAT DOES ERIC SAY? Eric Ries, cofounder/CTO of IMVU and MVP proponent, defines an MVP as a version of a new product that allows for the most learning possible for the least amount of effort.
- 9. BUILD - MEASURE - LEARN Source: Build Measure Learn
- 10. LEAN CANVAS STAGES 1. First make sure you have a problem worth solving. 2. Then define the smallest possible soluAon (MVP). 3. Build and validate your MVP at small scale (demonstrate UVP). 4. Then verify it at large scale.
- 11. STEPS IN THE LEAN CANVAS
- 12. LEAN CANVAS AND RISKS Source: The 10x Product Launch
- 13. PRODUCT RISK GETTING THE PRODUCT RIGHT • First make sure you have a problem worth solving. • Then define the smallest possible soluAon (MVP). • Build and validate your MVP at small scale (demonstrate UVP). • Then verify it at large scale.
- 14. BUILDING A PATH TO CUSTOMERS • First idenAfy who has the pain. • Then narrow down to early adopters who really want your product now. • It’s okay to start with outbound channels. • But gradually build/develop scalable inbound channels – the earlier the beer. CUSTOMER RISK
- 15. MARKET RISK BUILDING A VIABLE BUSINESS § IdenAfy compeAAon through exisAng alternaAves and pick a price for your soluAon. § Test pricing first by measuring what customers say (verbal commitments). § Then by what they do. § OpAmize your cost structure to make the business model work.
- 16. M IN MVP: MINIMALISM § Seize your unfair advantage quickly § Focus on the assumpAons to avoid scope creep § Stay true to your product DNA § Keep it simple and experimental
- 18. SEIZE THE ADVANTAGE QUICKLY According to Matchist.com cofounder, Stella Fayman, in a piece on MVPs for KISS-Metrics, balance these 3 quesAons to stay on track: § Are resources dedicated to simplifying the MVP? § Are the assumpAons focused just on the core value? § Is my Ameline as lean as possible?
- 19. KEEP IT SIMPLE AND EXPERIMENTAL MVPs succeed by tesAng if there’s market demand for an alternaAve without obsessing over features. Limit your scope to tesAng just the core value of your product, you give yourself room to fail without breaking the bank.
- 20. THE CUPCAKE MODEL “The MVP is one of the most referenced and least understood concepts in modern product development" Source: the cake model of product planning
- 21. TASTY TREAT ! Source: the cake model of product planning
- 22. THE V IN MVP: VIABILITY Establishing and Sustaining Viability Understanding Product vs. Business Viability § Determining Product Viability § Determining Business Viability Have a method for the qualitaAve madness Give your product a life of its own
- 23. MVP VS VIABLE PRODUCT Source: Don’t Let The Minimum Win Over Viable, HBR Blog
- 24. Source: Don’t Let The Minimum Win Over Viable, HBR Blog CONTINUAL VALIDATION
- 25. P IN MVP: PRODUCT & QUALITY How to think about quality when building your next product Source: Moz, “7 unlikely recommendations for startups & entrepreneurs”
- 26. THE 8 DIMENSIONS OF PRODUCT QUALITY
- 27. 5 MVP TECHNIQUES FOR TESTING YOUR HYPOTHESIS 1. Customer Interviews 2. Landing Pages 3. A/B Tests 4. Paper Prototypes 5. Pre-Order Pages
- 28. 1. CUSTOMER INTERVIEWS Source: Driving Corporate Innovation: Design Thinking vs. Customer Development
- 29. 2. LANDING PAGES Source: Idea to Paying Customers in 7 Weeks - How We Did It
- 30. 3. A/B TESTS Source: The Ultimate Guide to A/B Testing
- 31. 4. PAPER PROTOTYPES Source: Caryn Vainio, Winnie Chang, Adrian Kosmaczewski
- 32. 5. PRE-ORDER PAGES Source: Oculus Rift
- 33. MVP LAUNCH: GETTING IT OUT THE DOOR • Don’t get bogged down by unnecessary details and overhead when building MVPs. • Gather and validate assumpAons • Go out and build it! • Test your hypotheses in the Market
- 36. SPONSORS & PARTNERS SPONSORS PARTNERS TECNOLOGIA