1.
Creating Your MVP
Startup Validation Hacks
Abby Fichtner
@HackerChick
Harvard Innovation Lab
http://HackerChick.com

2.
your
startup
isn’t a
business
a hobby
it’s
@HackerChick @Justin_Wilcox

3.
your startup
hobby business
fun
obsession
cost lots $
@HackerChick @Justin_Wilcox

4.
your startup
hobby business
fun cost
opportunity
obsession
$150K salary
cost lots $
@HackerChick @Justin_Wilcox

5.
your startup
hobby business
fun
obsession
profit $
cost lots $
@HackerChick @Justin_Wilcox

6.
is your startup
going to be
business or
a hobby ?
@HackerChick

7.
MVP Goal
VISION REALITY
@HackerChick

8.
@HackerChick

9.
@HackerChick

10.
@HackerChick Andrew Mason, CEO of Groupon (NY Tech Meetup)

11.
you‘re way too
dumb
to figure out whether your
idea is
good
@HackerChick Andrew Mason, CEO of Groupon (NY Tech Meetup)

12.
(MVP)
Minimum Viable Product
@HackerChick

13.
MVP
What’s the smallest thing I can do…
business
vs
hobby ?
@HackerChick

14.
@HackerChick

15.
@HackerChick

16.
COOL?
@HackerChick

17.
Step #1
Find a
problem
worth solving
@HackerChick

18.
We had an idea for a new product.
We went off & built it, put it on our website.
@HackerChick

19.
We had an idea for a new product.
We went off & built it, put it on our website.
not a single person clicked thru
@HackerChick

20.
We had an idea for a new product.
We went off & built it, put it on our website.
not a single person clicked thru
What did we learn
from that?
@HackerChick

21.
We had an idea for a new product.
We went off & built it, put it on our website.
not a single person clicked thru
Was there a faster
way to learn that?
@HackerChick

22.
@HackerChick

23.
@HackerChick

24.
@HackerChick

25.
@HackerChick

26.
@HackerChick

27.
@HackerChick

28.
[MVP Tool] Landing Pages
@HackerChick

29.
@HackerChick

30.
@HackerChick

31.
@HackerChick

32.
@HackerChick

33.
@HackerChick

34.
@HackerChick

35.
Crowd Testing
$5 1.4%
$10 1.7%
sample: 5,549
@HackerChick @Justin_Wilcox, Bounce pre-orders

36.
[MVP Tool] KickStarter
@HackerChick

37.
@HackerChick

38.
[MVP Tool] Video
@HackerChick

39.
75,000
signups overnight
@HackerChick

40.
$10 MILLION
@HackerChick

41.
69,000
backers
@HackerChick

42.
How do you get
people
page?
to your
@HackerChick

43.
know your
customer
@HackerChick

44.
@HackerChick

45.
@HackerChick

46.
10 100
@HackerChick

47.
@HackerChick

48.
Photo Sharing App
Recipe App
Discover Local Events
Group Travel Planning
Facebook for
<happy people/smart kids/psychos/dogs/travel agents/astronauts…>
@HackerChick

49.
Photo Sharing App
Recipe App
Discover Local Events
Group Travel Planning
Facebook for
<happy people/smart kids/psychos/dogs/travel agents/astronauts…>
@HackerChick

50.
VC: “There are a million cloud storage startups!”
Drew: “Do you use any of them?”
VC: “No”
Drew: “…”
@HackerChick

51.
Know where your
target audience
hangs out
& speak to them in an
authentic way
@HackerChick @drewhouston, Dropbox

52.
[MVP Tool] Business Model Canvas
@HackerChick http://LeanCanvas.com

53.
Brainstorm
Customer Problem
anyone who cooks can’t find recipes
@HackerChick

54.
Brainstorm
Customer Problem
anyone who cooks can’t find recipes
amateur gourmet chefs want to make fabulous food
for friends & family
@HackerChick

55.
Brainstorm
Customer Problem
anyone who cooks can’t find recipes
amateur gourmet chefs want to make fabulous food
for friends & family
dieters need to lose weight
@HackerChick

56.
Brainstorm
Customer Problem
anyone who cooks can’t find recipes
amateur gourmet chefs want to make fabulous food
for friends & family
in college
dieters
^ need to lose weight
@HackerChick

57.
@HackerChick

58.
Xcelerate - @HackerChick
@HackerChick

59.
Xcelerate - @HackerChick
@HackerChick

60.
@HackerChick

61.
[MVP Tool]
Customer Interview
@HackerChick

62.
@HackerChick

63.
What are the Top 3
Problems?
@HackerChick

64.
How are they solving those
problems today?
@HackerChick

65.
Step #2
Find a
solution
that resonates
@HackerChick

66.
[MVP Tool] Concierge Service
(AKA Wizard of Oz)
Boston Startup School - @HackerChick
@HackerChick
@HackerChick

67.
@HackerChick

68.
Concierge Test
@HackerChick

69.
@HackerChick

70.
@HackerChick
@HackerChick

71.
remember to…
demosolutions with
target customers
before
you build
@HackerChick

72.
@HackerChick

73.
[MVP Tool] Mashup
@HackerChick

74.
Step #3…n-1
@HackerChick

75.
Problem/Solution Fit
@HackerChick

76.
Step #n
launch!
when you have a
quantum of utility
@HackerChick @paulg, Y Combinator

77.
speed
prioritize for…
&
excitement
@HackerChick @paulg, Y Combinator

78.
but don’t be…
too minimal
@HackerChick

79.
Some MVP Tools
1. Business Model Canvas
2. Customer Interviews
3. Landing Pages
4. Kickstarter
5. Videos
6. Concierge Service
7. Existing Tools Mashup
(WordPress, Wufoo, Google Forms, Wix, App Builders, etc.)
8. Your imagination
@HackerChick