Minimum Viable Product in brief!

23
MVP What is? & How to build? In The Name of Allah

Transcript of Minimum Viable Product in brief!

MVPWhat is? & How to build?

In The Name of Allah

Mohammad MilaniCEO at RAMBODBusiness Development Manager at TAKFA

mohammadmilani

StartupOrganization formed to search for a repeatable and scalable business model

• Innovative Idea• Scalable• Fast growth

Source: Forbes - 2015

90% of startups will fail

Source: Forbes - 2015

Most reasons:No Market Need 42%

A Perfect, Great and Supreme Product That No One Needs!

How avoid?

MVPMinimum Viable Product

What is MVP?• 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.

Erich Rise-

What is MVP?

What is MVP?

How to create MVP?

I. Define your product & value proposition.• For Example: The idea is to build a site, with working customer

support numbers for various companies. Users can add numbers they find and vote on other numbers whether it worked for them or not.

II. List the Initial Features• Search the database to find a company• Allow users to submit companies to the database• Group companies into categories• Detect duplication of companies (eg: IBM vs International Business Machines)• Separate numbers by city• Get the user’s IP, determine the location and show numbers for the city closest to the user• Upvote on numbers which work• Downvote on numbers which aren’t working• Allow businesses to add verified numbers• Allow users to submit numbers to the database• Have premium users who receive discounts from companies• Premium users can login through facebook, twitter and google accounts• Show users their vote if they have previously voted on a number

III. Find Minimum Feature Set

How many of these features are really central to the core problem being solved?

III. Find Minimum Feature Set• Search the database to find a company• Allow users to submit companies to the

database• Allow users to submit numbers to the

database• Upvote on numbers which work• Downvote on numbers which aren’t working

IV. Detect your target market.

V. Start with early adopters• Find effective access

channels to early adopters

VI. Innovate again and Make your MPV• to collect the maximum amount

of validated learning about customers with the least effort

• MVP types:• Advertisement• Mockup site• Video• Real Product

VII. Now, start the round…• Measure and gather data• Analyze feedbacks and learn • Rethink and revise your idea• Build again and offer again• and again….

“Every man is worth just as much as the things he busies himself with.”Marcus Aurelius Antoninus

Question?