mvp/experiments talk at sva ixd program
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Giff Constable Jan 2012
Experiments & MVPs
http://proof-nyc.com http://giffconstable.com
partner @ Proof
early stage specialist
skillset generalist
16 years of startups
2 years as a fine artist
co-organizer, lean startup meetup
who am I?
The core of lean startup
reducing waste
things people don't want or needthings that have no business potential
The core of lean startup
how to reduce waste?
validate early and oftenget the formula right before you scale
The core of lean startup
not just for startups
for any innovative project
“lean startup” goes beyond talking to customers
It's about running experiments
1. have a hypothesis to test
2. brainstorm a few different tests, offline and offline
3. try to break the tests into even smaller units of work
4. choose a test and set a goal
5. run the test (try to hit the goal)
6. review results and make a decision (a. confirmed belief; b. iterate test; c. iterate business)
Running Experiments
manual delivery(aka “wizard of oz”)
Examples
“concierge”(i.e. be the software)
Examples
pre-sales(with LOI, discounts)
Examples
landing page(with calls to action)
Examples
video
Examples
paper testing
fake features
Examples
working software
and of course...
it’s a rolling series of iterations
a minimal viable product is not a point release
a minimal viable product is for learning, not launching
find product market fit
optimizeconversion*
promote
* for enterprise-focused startups, replace with “find your repeatable sales process”
btw “as small as possible” != “small”
the best experiments
digital *or* analogcreativefocusedmeasured
as small as possible
vision is essential -- you can’t A/B test your way to greatness
lead with vision
use experiments to reality check against the market
I don’t buy knee-jerk excuses to avoid this stuff
experiments are often not definitive
and results have to be balanced against vision and judgement
but that doesn’t mean we should stick our heads in the sand
Business Assumptions Exercise
can be found at http://giffconstable.com
I believe that my customers have a need to ________________________________________.
Customer-Needs Assumption
keep it concise!
This need can be solved with ________________ _________________________________________.
Solution Assumption
My initial customers will be _________________ ________________________________________.
Initial Customer Assumption
describe the person(s)
The #1 value a client wants to get out of my service is: ________________________.
Value Proposition Assumptions
The client can also get these additional benefits: ___________________ and __________________.
I will acquire the majority of my users/customers through _______________________ and ________________________.
Marketing Assumptions
I will make money by _______________________ _________________________________________.
Business Model Assumption
My primary competition will be ______________ and ______________.
Competition Assumptions
We will beat them in the market due to __________________ and __________________.
My biggest product risk is ___________________.
Product Risk Assumptions
We will solve this through ____________________ ______________________________.
What assumptions does my business hold, that if proven wrong, could cause the business to fail?1._______________________________________.2._______________________________________.3._______________________________________.4._______________________________________.5._______________________________________.
Critical Risk Assumptions
Prioritize your assumptions
High Risk
Low Risk
UnknownKnown
prioritize here
1. have a hypothesis to test
2. brainstorm a few different tests, offline and offline
3. try to break the tests into even smaller units of work
4. choose a test and set a goal
5. run the test (try to hit the goal)
6. review results and make a decision (a. confirmed belief; b. iterate test; c. iterate business)
Running Experiments
email:giff@proof-nyc.com
twitter: giffconstable
blog: http://giffconstable.com
site: http://proof-nyc.com
Thank You
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