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BFBM(1-2016) Startup with mvp

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Hub Myanmar Company Limited
Hub Myanmar Company Limited

၂၀၁၆ ခုႏွစ္၊ ေဖေဖာ္၀ါရီလ (၂၈)ရက္ေန႔ (တနဂၤေႏြေန႔) ၊ မႏၱေလးျမို႕၊ အမ်ိဳးသား ဇာတ္ရံုမွာ က်င္းပျပဳလုပ္ခဲ့တဲ့ Better Future Better Myanmar-2016, Myanmar Miracle Free Seminar series ရဲ႕ ပထမဆံုးပြဲဦးထြက္ မွာ " Startup with MVP " ေခါငး္စဥ္ျဖင့္ ပါေမာၡ ေဒါက္တာေအာင္ထြန္းသက္ ေဟာေျပာခဲ့တဲ့ PowerPoint Slide ျဖစ္ပါတယ္။

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Prof. Dr.Aung Tun Thet Startup With Minimum Viable Product (MVP)
Prof. Dr.Aung Tun Thet Startup With Minimum Viable Product (MVP)
Definitions
ADOPTION CURVE
Minimum Viable Product (MVP) • “What could we make at a minimum, • to get our product functioning, • to prove it is a solution to a problem?”
• Minimum Viable Product Is Not a Product • It’s a Process
How founders think MVP will work
How MVP actually works .
.
Trial-and-Error World • One who can find errors the fastest wins • “Fail fast” • “Speed Wins” • “Lean” • “Agile”
Trial-and-Error World • Getting feedback from real users as quickly as possible • Building product, writing marketing plan • Asking two questions: 1. What is the riskiest assumption? 2. What is the smallest experiment I can do to test this assumption?
MVP • Product with just enough features that could be sold • Carrying out market analysis beforehand
MVP
BFBM(1-2016) Startup with mvp
BFBM(1-2016) Startup with mvp
Minimum Viable Bad products no one wants to buy Minimum + Viable Products for startups to build Products built by better financed companies
BFBM(1-2016) Startup with mvp
BFBM(1-2016) Startup with mvp
MVP
BFBM(1-2016) Startup with mvp
BFBM(1-2016) Startup with mvp
Lean Startup Methodology
Startups • Dedicated to creating something new • Conditions of extreme uncertainty • Mission: discover successful path to sustainable business • Most fail • Preventable
Lean Startup Approach • More capital efficient • Leverage human creativity more effectively • Lessons from lean manufacturing • “Validated learning”
Lean Startup Approach • Counter-intuitive practices • Shift directions with agility • Altering plans inch by inch, minute by minute
Lean Startup Approach • Not wasting time creating elaborate business plans • Test continuously • Adapt and adjust • Scientific approach • Creating and managing successful startups
Lean Startup • “Startup success can be engineered by following the process, • which means it can be learned, • which means it can be taught.”
Lean Startup • Get desired product to customers' hands faster • Drive, steer, turn, and persevere • Principled approach to new product development.
Startups • Begin with idea for product that they think people want • Spend months, years, perfecting product without ever showing to prospective customer • Never spoke to prospective customers • When customers ultimately communicate through indifference > fails
Lean Startup Approach Code Faster Measure Faster Learn Faster
• “By the time that product is ready to be distributed widely, • it will already have established customers.”
Eliminate Uncertainty • Tailored management process • Not "just do it" approach • Create order not chaos by testing vision continuously • Putting methodology around development of product
Work Smarter not Harder • Startup grand experiment • Answer question • Not "Can this product be built?" • But • "Should this product be built?" • "Can we build sustainable business around this set of products and services?"
Work Smarter not Harder • Not theoretical inquiry • First product • Get started with campaign • Enlisting early adopters • Solved real problems • Detailed specifications
Develop MVP
Lean Startup Methodology • Build-Measure-Learn feedback loop • Figure out problem to be solved • Develop minimum viable product (MVP) • Process of learning as quickly as possible
Lean Startup Methodology • Startup work on tuning engine • Involve measurement and learning • Include actionable metrics that demonstrate cause and effect question
Lean Startup Methodology • Startup utilize investigative development method called "Five Whys“ • Asking simple questions to study and solve problems • Clear if company either moving drivers of business model or not • If not, pivot or make structural course correction to test new fundamental hypothesis about product, strategy and engine of growth
Validated Learning
Validated Learning • Rigorous method for demonstrating progress • Development process shrink substantially • Figuring right thing to build - thing customers want and will pay for • Not spend months waiting for product launch to change company's direction
Principles
Entrepreneurs are Everywhere • Don't have to work in garage to be startup • See need • Get started • “Concierge MVP" technique - entrepreneur solves customer problems manually before automating solution; with customers, figuring out what really needs to be done 1
• "Use customer feedback to improve the solution, • repeating the process to rapidly create an effective solution, • that meets the customer service need."
• "Think big. • Start small. • Scale Fast."
Entrepreneurship Is Management • Startup institution • Not just product • Requires new kind of management 2
Validated Learning About Customers • Startups exist not to make stuff, make money, or serve customers • Exist to learn to build sustainable business • Learning validated scientifically • Running experiments to test each element of vision 3
Validated Learning About Customers • Revenue alone not a sufficient goal • Focusing on it exclusively can lead to failure as surely as ignoring it altogether • What matters proving viability of business model (“traction”)
Validated Learning About Customers • Customer Validation • Total revenue not very useful • How profitable is it on per-customer basis? • What’s the total available market? • What’s ROI on acquiring new customers? • How do existing customers respond to our product over time?
Innovation Accounting • Startups exist not to make stuff, make money, or serve customers • Exist to learn to build sustainable business • Learning validated scientifically • Running experiments to test each element of vision 4
Innovation Accounting • Improve entrepreneurial outcomes • Hold entrepreneurs accountable • Focus on boring stuff: • How to measure progress • How to setup milestones • How to prioritize work • New kind of accounting
Build-Measure-Learn • Startup • Turn ideas into products • Measure how customers respond • Learn whether to pivot or persevere • Successful startup processes geared to accelerate feedback loop 5
Product Development • “Good enough never is” • Inspirational • “This work is simply not good enough” • Create environment where courage thrives
Is "good enough" good enough? • Rules of thumb unhelpful • When should you settle for good enough and when should you push yourself to do your best? • Dilemma that minimum viable product designed to solve • Hard
Third Way • Action/paralysis not only options • “Customer is the most important part of the production line.” • Quality defined in eye of customer - not by standards set by insiders - factors beyond reliability: design, ease of use, aesthetic appeal, and convenience
MVP • How can we build quality in if we do not yet know who the customer is? • “If you do not know who the customer is, • you do not know what quality is”
Final Thoughts
MVP • Version of new product • Allows team to collect maximum amount of validated learning • With least effort
MVP • What will the customer care about? • How will they define quality?
MVP • Startups simplify • How do you know which features are essential and which should go? • No formula • Requires judgment
Pursuit of Learning • Product-centric • Ongoing • Commitment absolute • Execute, iterate, and learn • Get through build-measure-learn feedback loop with maximum speed
Thank You!

More Related Content

BFBM(1-2016) Startup with mvp

  • 1. Prof. Dr.Aung Tun Thet Startup With Minimum Viable Product (MVP)
  • 2. Prof. Dr.Aung Tun Thet Startup With Minimum Viable Product (MVP)
  • 5. Minimum Viable Product (MVP) • “What could we make at a minimum, • to get our product functioning, • to prove it is a solution to a problem?”
  • 6. • Minimum Viable Product Is Not a Product • It’s a Process
  • 7. How founders think MVP will work
  • 9. .
  • 10. Trial-and-Error World • One who can find errors the fastest wins • “Fail fast” • “Speed Wins” • “Lean” • “Agile”
  • 11. Trial-and-Error World • Getting feedback from real users as quickly as possible • Building product, writing marketing plan • Asking two questions: 1. What is the riskiest assumption? 2. What is the smallest experiment I can do to test this assumption?
  • 12. MVP • Product with just enough features that could be sold • Carrying out market analysis beforehand
  • 13. MVP
  • 16. Minimum Viable Bad products no one wants to buy Minimum + Viable Products for startups to build Products built by better financed companies
  • 19. MVP
  • 23. Startups • Dedicated to creating something new • Conditions of extreme uncertainty • Mission: discover successful path to sustainable business • Most fail • Preventable
  • 24. Lean Startup Approach • More capital efficient • Leverage human creativity more effectively • Lessons from lean manufacturing • “Validated learning”
  • 25. Lean Startup Approach • Counter-intuitive practices • Shift directions with agility • Altering plans inch by inch, minute by minute
  • 26. Lean Startup Approach • Not wasting time creating elaborate business plans • Test continuously • Adapt and adjust • Scientific approach • Creating and managing successful startups
  • 27. Lean Startup • “Startup success can be engineered by following the process, • which means it can be learned, • which means it can be taught.”
  • 28. Lean Startup • Get desired product to customers' hands faster • Drive, steer, turn, and persevere • Principled approach to new product development.
  • 29. Startups • Begin with idea for product that they think people want • Spend months, years, perfecting product without ever showing to prospective customer • Never spoke to prospective customers • When customers ultimately communicate through indifference > fails
  • 31. • “By the time that product is ready to be distributed widely, • it will already have established customers.”
  • 32. Eliminate Uncertainty • Tailored management process • Not "just do it" approach • Create order not chaos by testing vision continuously • Putting methodology around development of product
  • 33. Work Smarter not Harder • Startup grand experiment • Answer question • Not "Can this product be built?" • But • "Should this product be built?" • "Can we build sustainable business around this set of products and services?"
  • 34. Work Smarter not Harder • Not theoretical inquiry • First product • Get started with campaign • Enlisting early adopters • Solved real problems • Detailed specifications
  • 36. Lean Startup Methodology • Build-Measure-Learn feedback loop • Figure out problem to be solved • Develop minimum viable product (MVP) • Process of learning as quickly as possible
  • 37. Lean Startup Methodology • Startup work on tuning engine • Involve measurement and learning • Include actionable metrics that demonstrate cause and effect question
  • 38. Lean Startup Methodology • Startup utilize investigative development method called "Five Whys“ • Asking simple questions to study and solve problems • Clear if company either moving drivers of business model or not • If not, pivot or make structural course correction to test new fundamental hypothesis about product, strategy and engine of growth
  • 40. Validated Learning • Rigorous method for demonstrating progress • Development process shrink substantially • Figuring right thing to build - thing customers want and will pay for • Not spend months waiting for product launch to change company's direction
  • 42. Entrepreneurs are Everywhere • Don't have to work in garage to be startup • See need • Get started • “Concierge MVP" technique - entrepreneur solves customer problems manually before automating solution; with customers, figuring out what really needs to be done 1
  • 43. • "Use customer feedback to improve the solution, • repeating the process to rapidly create an effective solution, • that meets the customer service need."
  • 44. • "Think big. • Start small. • Scale Fast."
  • 45. Entrepreneurship Is Management • Startup institution • Not just product • Requires new kind of management 2
  • 46. Validated Learning About Customers • Startups exist not to make stuff, make money, or serve customers • Exist to learn to build sustainable business • Learning validated scientifically • Running experiments to test each element of vision 3
  • 47. Validated Learning About Customers • Revenue alone not a sufficient goal • Focusing on it exclusively can lead to failure as surely as ignoring it altogether • What matters proving viability of business model (“traction”)
  • 48. Validated Learning About Customers • Customer Validation • Total revenue not very useful • How profitable is it on per-customer basis? • What’s the total available market? • What’s ROI on acquiring new customers? • How do existing customers respond to our product over time?
  • 49. Innovation Accounting • Startups exist not to make stuff, make money, or serve customers • Exist to learn to build sustainable business • Learning validated scientifically • Running experiments to test each element of vision 4
  • 50. Innovation Accounting • Improve entrepreneurial outcomes • Hold entrepreneurs accountable • Focus on boring stuff: • How to measure progress • How to setup milestones • How to prioritize work • New kind of accounting
  • 51. Build-Measure-Learn • Startup • Turn ideas into products • Measure how customers respond • Learn whether to pivot or persevere • Successful startup processes geared to accelerate feedback loop 5
  • 52. Product Development • “Good enough never is” • Inspirational • “This work is simply not good enough” • Create environment where courage thrives
  • 53. Is "good enough" good enough? • Rules of thumb unhelpful • When should you settle for good enough and when should you push yourself to do your best? • Dilemma that minimum viable product designed to solve • Hard
  • 54. Third Way • Action/paralysis not only options • “Customer is the most important part of the production line.” • Quality defined in eye of customer - not by standards set by insiders - factors beyond reliability: design, ease of use, aesthetic appeal, and convenience
  • 55. MVP • How can we build quality in if we do not yet know who the customer is? • “If you do not know who the customer is, • you do not know what quality is”
  • 57. MVP • Version of new product • Allows team to collect maximum amount of validated learning • With least effort
  • 58. MVP • What will the customer care about? • How will they define quality?
  • 59. MVP • Startups simplify • How do you know which features are essential and which should go? • No formula • Requires judgment
  • 60. Pursuit of Learning • Product-centric • Ongoing • Commitment absolute • Execute, iterate, and learn • Get through build-measure-learn feedback loop with maximum speed