How to arrive at MVP for a product

1. MVP – How to go about building your
MVP

3. Determine
Target Customer
Identify
Undeserved
Customer Need
Create a Winning
Product Strategy
Define Your MVP
Design your MVP
Prototype
Test your MVP
with Customers
Iterate rapidly to
achieve Product
Market fit

4. PROBLEM SPACE VS SOLUTION SPACE

5. DETERMINE YOUR TARGET CUSTOMER
Segment
• Demographic
• Physiographic
• Behavioral
• Need Based
Technology
Life cycle

6. IDENTIFY CUSTOMER NEEDS
Customers are not very clear
with their needs
Don’t get into solution phase in
a hurry
Focus on Benefits

7. DEFINE YOUR VALUE PROPOSITION
FEATURE Competitor A Competitior B My Product
Must have 1 Yes Yes Yes
Must Have 2 Yes Yes Yes
Performance Benefit 1 High Low Medium
Performance benefit 2 Medium High Low
Delighter 1 Yes
Delighter 2 Yes

8. DEFINE YOUR VALUE PROPOSITION

9. WHAT IS MVP
The fastest, cheapest thing you can build
and get into the hands of customers fast
so that you can observe and measure the results
to make your product something customers want to need
and love to buy
Rapid
Cycles
Customer
developm
ent
Action
metrics
Validated
learning

10. SPECIFY YOUR MVP FEATURE SET
For each of the benefit come up with
features
Use ROI to prioritze
ROI = Final Value – Investment /
Investment Or Return /Investment
EG- Between A & B in diagram
A = 6/2=3 & B=6/4=1.5 go for A
Between C & D
C=4/4 =1 & D=8/8=1 go for C
Note – Must have should be included

11. SPECIFY YOUR MVP FEATURE SET

12. ITERATE AND PIVOT TO IMPROVE P-M FIT
Iterative user testing

13. CREATE YOUR MVP PROTOTYPE
Marketing materials
Landing page / Smoke test
Explainer Video
Ad Campaign
Marketing A/B Tests
Crowdfunding
Wife frames
Mockups
Interactive prototype
Wizard of Oz and concierge
Live Product
Fake Door / 404 Page
Product analysis & A/B tests
Marketing Tests
Product Tests
Qualitative Test Quantitative Test

14. LANDING PAGE
Create a live web page and
direct the traffic there
Describe a product planned
to build and ask customer
to express some level of
interest usually a sign up
Click through landing page
& Lead generation landing
page

15. A/B Tests

16. CONCIERGE
Allows you to test your live product
Instead of final version you are using manual workarounds
Involve with a small number of early customers
Understand target market, needs, preferences and Taylor product

17. WIZARD OF OZ
Put up a front that
looks like real working
product

18. FAKE DOOR / 404 PAGE
Good way to test Demand
for a New Feature
Include a link or a button
for a new feature and see
what % of customers click
on it
Also ask the customers if
they like the feature or
not
Gaming company Zygna
uses this often

19. CROWDFUNDING

20. APPLY THE PRINCIPLES OF GREAT UX
DESIGNUsability
Delight
Core concept you are using to design your
product, in sync with what your target
customers think
Great product innovation happens here
Design – how information and
functionality should be structured
How your product and customer interact
with each other
The Part most obvious to anyone looking
at your product

21. PRESEVERE OR PIVOT
PIVOT EXAMPLE
Flickr began as Game Neverending

22. ITERATE AND PIVOT TO IMPROVE P-M FIT
Iterative user testing

23. BUILD YOUR PRODUCT USING AGILE
DEVELOPMENT
MEASURE YOUR KEY METRICS
USE ANALYTICS TO OPTIMIZE YOUR PRODUCT
AND MARKET