mvp – buzzword bingo or the best way to fastrack …files.darrylfeldman.com/whymvp.pdfmvp –...
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MVP – BUZZWORD BINGO OR THE BEST WAY TO FASTRACK YOUR PRODUCT?Darryl Feldman
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Trending list of the most over used industry buzzwords…
Meaningless bullshit or the way forward..!?
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THE CONCEPT OF MINIMUM VIABLE PRODUCT IS HORRIBLY MISUNDERSTOOD…AND YET OVERUSED.
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YOU MAY SHIP SOMETHING IN THE FIRST STEP THAT IS MINIMAL BUT IT WON’T BE VIABLE (YET) AND NOT REALLY A COMPLETE PRODUCT.
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Eric Ries defines MVP as “…that version of a new product which allows a team to collect the maximum amount of validated learning about customers with the least effort.”
the lean startup Guy
—->
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Minimum The least you can get away with… !
Viable …and still get early adopters to play with it… !
Product …providing learnings to shape the thing.
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Simply put an MVP is an experiment to test product / market fit, nothing more.
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However…!
Many product teams use ‘MVP’ as an excuse to ship half-baked products because:
-they do not have a clear value proposition -they confuse MVP with simplicity / UI minimalism -they don’t have the time to do it properly -they want something quick to show their boss -they believe their customers will still love it anyway !
!
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Assumption by many “lean” software teams is less = more, sometimes less is well, just less… !
…and importantly MVP can lead to creating things that users do not fall in love with. !
…imagine… !
!
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MVP Mona Lisa !
!
!
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MVP Porsche !
!
!
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MVP Eiffel Tower (well not the hat) !
!
!
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MVP Smart home cleaning system !
!
!
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!
It is not always the right approach to MVP as it depends on the maturity of the business idea and what end of the innovation spectrum you are… !
SUSTAINING VS DISRUPTING
!“ A new 1 click payment feature for e-commerce”
“ A new way of selling health products based on wearables data”
a well understood problem a new paradigm
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Also what kind of company and brand you are…both approaches can work !
!
!
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Things to consider before going for an MVP approach…
!
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1) Define if MVP is the right approach for your company - ask yourself where are we in the innovation spectrum?
!
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2) Develop a basic value proposition for your idea - use as a provider of ‘laser focus’ for the MVP
! Benefits, features & experience VS user needs
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3) Clarify the learning objectives of the MVP - what will you test and gather data on, and how will these learnings feed back into further iterations of the product?
!
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4) Target clearly your users - identify who will be the first guinea pigs for your experiment and would provide the best data for learning
!
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5) Define and build your minimum solution - remember your value proposition and ship the least you can do to create / measure that value
!
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6) Set expectations within your company - ensure C-Levels and Marketing get MVP and don’t over promise to investors, shareholders or customers
!
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7) Observe, learn and make better - resist the temptation to add all the features you wanted. Make time for reflection, and be prepared to mutate.
!
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MVP is a mindset not a definition of scope or product, it can be a great way to get to market quickly and test a product idea out to validate - but it is no guarantee to win the hearts and minds of potential users and get them to adopt, it’s a test and the beginning of a product journey.
!
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Thanks…
!
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Examples where MVP approach worked !
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