Day5short
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This document discusses developing a minimum viable product (MVP). It emphasizes the importance of understanding customer problems and market potential before building a product. It provides tips for preparing an MVP test, such as determining what to learn and selecting product features based on solving customer problems and closing sales. User stories and MVP examples are presented. The document concludes by assigning homework on further developing an MVP idea through customer interviews and updating the lean canvas business model.
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Day5short
- 1. Bora Özkent NEW VENTURE DEVELOPMENT DAY-5
- 2. “Life’s too short to build something nobody wants.” Ash Maurya
- 4. CREATE THE VISION RUN AN EXPERIMENT CREATE AN MVP FEEDBACK AND RESEARCH
- 7. Questions to Answer • Do we understand our customers’ problems? • Is there a market potential, do sufficient number of people suffer from this problem? • Do they like our idea so much, that they will tell about it to their friends?
- 8. Preparing the Test • What do I want to learn? • What is the easiest go/iterate/pivot test? • How can contact with MVP customers for further learning? • Which metrics should I measure and how I am going to measure them.
- 9. Criteria for Selecting • Does my product solve the customer’s problem without this feature? • Based on my customer discovery, which feature of the product will help me to close a sale most? • Which attribute so indispensible that, If we can’t make it work we should give up the whole idea? • Which one is the riskiest hypothesis in the lean canvas?
- 10. message that turns an unaware visitor into an interested landing page Proposition Relationships Segments ChannelsKey Resources Lean Startup Essentials #2: The Lean Canvas Value Proposition • Single, clear, compelling Key Partners Key Activities Value Customer Customer Cost Structure Revenue Streams prospect • Your elevator pitch • What you put on your
- 11. User Stories What are the Customers Trying to Accomplish With Mint I feel confident that I make my payments on time. With Mint I can make a budget and keep mylife under control. With Mint I can make better investments and earn more money. I can track my financial position easily with my cell phone.
- 13. Samples • “If Apple can launch a smartphone without Find or Cut-and-Paste, what can you cut out of your product requirements?” – Sramana Mitra • “The first version of Gmail was literally written in a day.”
- 19. ProduCtFidelity Coverage (Number of Customers) few low high many Interview
- 20. Interview Cost per Café Con LeChe (from 1€ to 20€)
- 21. ProduCtFidelity Coverage (Number of Customers) few low high many Interview Ad-Words-Campaign
- 22. AdWords Cost per CliCk (CPC) (from 5€ / campaign) google.Com/adwords
- 23. ProduCtFidelity Coverage (Number of Customers) few low high many Interview Ad-Words-Campaign Paper SketCh
- 24. SketCh Cost per page (from 0,20€ / page)
- 25. ProduCtFidelity Coverage (Number of Customers) few low high many Interview Ad-Words-Campaign Paper SketCh Paper MoCkup
- 26. MoCkup Cost per ServiCe (from 300€)
- 27. ProduCtFidelity Coverage (Number of Customers) few low high many Interview Ad-Words-Campaign Paper SketCh Paper MoCkup Raise Funds from Customers
- 28. Raise Funds Fee (5% fee to the funds collected) kiCkstarter.Com
- 29. ProduCtFidelity Coverage (Number of Customers) few low high many Interview Ad-Words-Campaign Paper SketCh Paper MoCkup Raise Funds from Customers Video
- 30. Video Pay per video (from 39€ / video) videolean.Com
- 31. ProduCtFidelity Coverage (Number of Customers) few low high many Interview Ad-Words-Campaign Paper SketCh Paper MoCkup Raise Funds from Customers Video Landing Page
- 32. Landing Page Freemium (from 49€ / month) unbounCe.Com
- 33. ProduCtFidelity Coverage (Number of Customers) few low high many Interview Ad-Words-Campaign Paper SketCh Paper MoCkup Raise Funds from Customers Video Landing Page ConCierge MVP
- 34. ConCierge MVP
- 35. ProduCtFidelity Coverage (Number of Customers) few low high many Interview Ad-Words-Campaign Paper SketCh Paper MoCkup Raise Funds from Customers Video Landing Page ConCierge MVP The ProduCt
- 36. Validate your idea with real users without coding, design and risk. Code Design Capital Risk
- 38. Online Form Design and Database Management
- 40. Brochure Website
- 41. Launching Soon
- 44. GoogleDocs
- 45. Plug-In’s
- 46. Prototype Sites
- 47. Wireframe
- 48. Keynotopia
- 49. Homework For Next Session • Read Book: Running Lean – Part 4: Chapter 10 and 11 • Team Discussion – How can you develop a minimum viable product for your idea? – Prepare your initial idea for MVP • Make 10 Customer Solution Interviews Interviews per group, document them on the solution interview sheets, bring sheets to the class. • Learn from your customers about your business idea and develop Lean Canvas Version 4. • Prepare powerpoint presentation – Lean canvas V.3 – What you have learned from customers – New lean canvas V.4 (Show what has changed) 49
- 50. What Dou You Learn From Wikispeed – “Quick & Dirty” or “Proper Engineering”? When? Why? – Why do you think people join Wikispeed? How did Joe manage to get followers, and what strategies did he use to make this happen? – What are the key organizational principles by which team Wikispeed is organized and which have driven its speedy development? – How does the Wikispeed approach to product development differ from the more traditional waterfall process? – Do you think large organizations should adapt their product development processes to Wikispeed methods? Why, why not? 50
- 51. WATCH AND PREPARE FOR DISCUSSION PAUL GRAHAM VİDEO HTTPS://WWW.YOUTUBE.COM/WATCH?V=II1JCL G-EIQ
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