MVP Masterclass – Minimum Viable Product for your Startup



MVP 101 – Create your Minimum Viable Product without spending a fortune

What you will learn

☑Step by step to creating a successful MVP

☑Learn from billion dollar companies’ MVPs

☑9 steps process to build your Minimum Viable Product – MVP

☑Learn from my iGrowex MVP experience

Description

A minimum viable product is the activity that allows a team to collect the maximum amount of validated learning about customers with the least amount of effort. The MVP must allow the startup to complete one cycle of the Build-Measure-Learn loop by presenting something to the customers and receiving feedback.

A minimum viable product template has four parts:

  • Value Proposition – The solution or the promise of a solution. What benefits will the customer receive?
  • Customer Segment – A specific target market that has a job to be done. These are the people who will give feedback on the value proposition.
  • Channel – The customer must receive the value proposition to give feedback, so there must be a method for reaching the specific target market.
  • Customer Relationship – The customer must give feedback on how the solution actually benefited them. To measure the effectiveness of the product, the customer must maintain contact with the startup somehow.

Easy enough. The term MVP comes from lean startup principles, which in turn comes from lean manufacturing principles. Those original principles from Toyota were about producing a valuable product (in this case, cars) with the least amount of waste possible. There shouldn’t be any extra pieces lying around, and workers shouldn’t find themselves carrying pieces from place to place unnecessarily. Even items kept in storage and not being actively used in the production process were considered waste.

So a minimum viable product template should be about reducing waste. For a startup, waste isn’t about creating a product with the least amount of scrap metal left lying around when the product is finished.

English

Language

Content

Introduction

MVP Introduction video

What is an MVP?

Why actually building an MVP?

MVP Techniques

Deep dive into MVP

MVP success stories : UBER – AIRBNB – BUFFER

MVP success stories : FACEBOOK – AMAZON – DROPBOX

My experience with igrowex.com

9 steps to follow for building your MVP

The post MVP Masterclass – Minimum Viable Product for your Startup appeared first on StudyBullet.

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