Building MVPsJordan Valdma, API & Global Partnerships @ TransferWise

Twitter: @JordanValdma

For Founders Institute, Chisinau 2017

The scientific method

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The scientific method

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Minimum Viable Product

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.

Eric Ries

Data driven decisions

KPI Examples

Monthly New or Active Users

● MoM (Month over month growth)

● If growth is accelerating

KPI Examples

Conversion funnel

● % of people converted● Measure the dropouts

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KPI Examples

Net Promoter Score

● How likely are you to recommend this product?

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What vs Why

Quantitative data usually tells you what,

not necessarily why - talk to your customers.

You are not your customer.

Build Measure Learn Cycle

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MVP Exemplified

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Pivoting

“a structural course correction to test a new fundamental hypothesis about a product, strategy [or] engine of growth.” The Lean Startup

White iterating involves small changes like altering a product price, pivoting involves substantial changes like identifying a better target market.

Pivoting & team

Startups that pivot once or twice raise 2.5x more money, have 3.6x better user growth,

and are 52% less likely to scale prematurely than startups that pivot more than 2 times or not at all.

● 2-3 founders seems optimal

Source - Startup Genome Report

Thank you!@JordanValdma