mvp - understanding the methodology needed to manage your company and product direction

MVP’s – MMP’s – MVV’s What are they?

What’s the difference?Why should we care?

“Everything should be made as simple as possible, but not simpler” - Albert Einstein

(Simple does not mean easy)

MVP – Minimum Viable ProductMMP – Minimum Marketable ProductMVV – Minimum Viable Vision

Startup

+ +

Release early,Release often

1 | 0How many features

would you rather have?

Product development approach

Start

Simultaneous Launch

Sequential Pivot

Start

OR

Build for fast releaseIntegrate customer feedback

- Time wasted in getting the right customer requirements

Build a great product with lots of features

- Time wasted in building something nobody wants

MVP

Resulting MVP

Minimal Viable Product

An experiment to validate the hypothesis

• Needs to solve a real problem• The MINIMUM set of features

needed to learn from early adopters

• NOT The final versionProduce/Code

Produce/Code

Minimum Viable ProductAn MVP should have just enough to deliver value to your early adopters

get paidgather feedback for future development

DigitalExplainer Video• 1-2 minutes

Explains: – Product / Service– Why someone should buy it

• Makes people say, “Sign me up!”

Landing Page• Single page website with “Call To Action” • MINIMAL TEXT!! (8 seconds to capture visitors interest)

• Has ANALYTICS to track visitors interaction• Collects information so you can follow up

PhysicalPrototype• 3D Printing• Arts/Crafts• Maker/Hacker Spaces

ServiceConcierge MVP• Manual Product or Service Delivery

– Expedite learning by working directly with your end-user

– Fastest way to answer your biggest question, • “is my product solving a real problem that is worth paying for?”

To get paid! Your MVP should be valuable enough to justify it's initial cost.

You can use it to build capital to pay for further development without having to borrow.

MMP• Based on the idea that less

is more• Shippable product with the

smallest feature set that– Still addresses the user

needs – Creates the right user

experience• Product with just the right

features and a great user experience

The key to creating a successful MMP is to “develop the product for the few, not the many,” - Steve Blank (founder of Lean Startup Methodology)

Minimum Marketable

Product

Sell it BEFORE you build it

How did they do it?

How they did it?

PIVOT

Landing Page

Explainer

Video

Concierge

MVP

MVP IS MORE A PHYLOSOPHY THAN ACTUAL

RULEMVP IS NOT A

RECIPE FOR SUCCESS

WHAT IF I TOLD YOU

MVP – Multiple Iterations throughout the growth processMMP – Developmental Product intended to gain market shareMVV – Company True North & Guiding Vision

Questions?

“Don't Let a Minimum Viable Product Minimize Your Minimum Viable Vision”

- Hunter Walk

Larry ThorpeGrowth Hacker

Business DevelopmentStartup Enthusiast

@Larry_TInquire@LarryThorpe.com