minimum viable product done
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TRANSCRIPT
Minimum Viable Product
How to mitigate new product development risk and better focus
your efforts
My Background
• Videogame producer/creative director for 15 years
• Independent consultant for last 3 years• Led development of console, PC and web
games• Licensed products, original IP, TV, etc
CPG Product Development
•Designer creates concept•Producer pitches to Executives•Executives greenlight concept•Team staffed up, production underway•12 months into production, marketing does a focus group•24 months after start, product is released•Finally chat with players via XBL, see what they like!
-All or nothing approach-Feedback comes too late
What is MVP?• Minimum Viable Product– Part of the “Lean Startup” methodology espoused by
Eric Ries
Eric Ries’ definition:– The minimum viable product is that version of a new
product which allows a team to collect the maximum amount of validated learning about customers with the least effort.
– Big vision meets rapid, metrics-based iteration
More In-Depth
• In early days, all you’ll get are early adopters• Accept this, and use it to your benefit• What is minimum amount of work needed to
engage with these customers?• Could simply be a mockup or webpage• Early adopters are smart enough to “fill in the
gaps” – they don’t need full product to tell you if it meets a market need
Theme Park…
• CPG – build whole theme park, then open• MVP – build one ride, open early, iterate
• Or an even slimmer MVP…– Take reservations for rides, then build most
popular ride!
How Zynga Uses MVPFrom Mark Pincus, CEO & Founder
•Create a 5-word pitch for a new product or feature•Put it up on a high traffic webpage•If it gets clicks, collect the emails of interested customers•Build a ‘ghetto’ version of the product or feature•Test everything•Iterate constantly
Source: http://grattisfaction.com/2010/01/how-zynga-does-customer-development-minimum-viable-product/
PMF is the #1 goal of MVP
• Don’t scale before PMF (Product Market Fit)– CPG scale = ramping up team– Online game scale = team, infrastructure, support,
additional funding, etc.
• Without it, attracting interest from partners and investors will be harder/lower value
Myths of MVP
• Means the same as “cheap”
• MVP only for consumer internet companies
• No vision needed – just use data!
Source: http://www.startuplessonslearned.com/2010/04/five-myths-about-lean-startup.html
Further Research
• Eric Ries’ Startup Lessons Learned (http
://www.startuplessonslearned.com) • Andrew Chen’s Minimum Desirable Product
Presentation (http://andrewchenblog.com/2010/04/07/minimum-desirable-product-and-lean-startups-slides-included)
• Google “Minimum Viable Product”
Q & A
My contact details:
Adrian Crookwww.AdrianCrook.com
[email protected], Facebook, LinkedIn URLs on my site