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MVP: The Steps After Ideation

So you have a great product idea. Now what? Learn the most productive and successful methods for creating your Minimum Viable Product (MVP).

GrowthHackingAsia
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MVP: The Steps After Ideation

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  1. GROWTH HACKING ASIA MVP: The Steps After Ideation

  2. Why do an MVP? BIGGEST RISK IS MAKING SOMETHING NOBODY WANTS This happens 42% of the time * 2 * according to CB Insights, https://www.cbinsights.com/blog/startup-failure-reasons-top/

  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. 3

  4. Build Ideas Product Learn Measure Data 4

  5. 5 Source: http://www.themacro.com/

  6. 6 Source: http://www.themacro.com/

  7. Product-market fit 7 Source: http://www.themacro.com/

  8. Product Market Fit “It is being in a good market, with a product that can satisfy that market” MARC ANDREESSEN 8

  9. TYPES OF MVPS 9

  10. CONCIERGE MVP Groupon started with just a WordPress blog and manually sending PDFs with the first vouchers 10

  11. LANDING PAGE Lyft kicked off recruitment by first tracking conversions on a landing page to hire drivers. 11

  12. VIDEO MVP Dropbox explored with a series of MVPs to help tie down what really resonated with users before building the product 12

  13. WIREFRAMES A lo-fidelity wireframe can be useful for testing quick hypotheses. Don’t spend effort making them look good! 13

  14. INTERACTIVE MOCKUPS Put interactive, hi-fidelity mockups in front of users to observe and gain important feedback. DEMO 14

  15. 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. 15

  16. Source: Tech Crunch

  17. Source: Tech Crunch

  18. 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 19

  19. What is a User Story? A high level requirement that provides value to a specific user FOR EXAMPLE “ As a <type of user>, I want <some goal> so that <some reason>. ” 20

  20. 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! 21

  21. PRIORITIZE A list of stories with all equal prioritisation is failure to prioritise. Empathy Stickiness Virality Revenue Scale 22

  22. I CAN’T GET A TAXI WHEN I NEED IT THE MOST 23

  23. CHOOSE AND DESIGN AN MVP 15 MINS 24

  24. USER STORIES FOR A PRODUCT MVP 15 MINS 25

  25. Q&A 26

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