Embed Size (px)
DESCRIPTION
As an established business with a recognized brand and a budget to match, is it better to do 3 of the things off your wish list for this year, and do them big, big, BIG? Or to try 8 things, put something out there that adds value, see what sticks, and double down on the strategies that take off? Startups should hardly need convincing to trim things down, given their limited resources and race to market. But even here, many promising ambitions become hopelessly mired in feature creep. Let’s explore the value of starting small, learning and iterating; challenges to be overcome in the implementation; and entertain scenarios when a minimum viable product may be a bad idea in the first place. About the Speaker Eric consults as a technical product manager and is tinkering away at the next big thing in social payments.
Citation preview
What is a minimum viable product?
• …that version of a new product which allows a team to collect the maximum amount of
validated learning about customers with the least effort.
There are valid reasons not to build an MVP, which runs counter to lean startup principles.
1. You are building a sustaining innovation product.
Why?
• Your customers are smart. They understand the problem and solution and so are believable. The features they ask for likely represent their true needs.
• Competition is everywhere. You can see what’s working and what isn’t.
http://pandodaily.com/2013/02/04/three-reasons-not-to-build-a-minimum-viable-product/
2. You don’t care if you’re wasteful.
3. You achieve product-market fit.
Points uncovered in discussion
• Waterfall development is always fraught with risk, no matter your resources. Lean product development helps you learn from the very start
• MVP: The donut has to at least be edible• Corporations may have less to gain from a public
beta. If they are developing a new product for their existing market, they can – Share early iterations privately with their customers– Get valuable feedback from real people– Clearly set expectations and avoid damaging brand
