Main takeaways: - The key product principles when developing a new product - How to launch a new product - How to measure the product performance

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Former Product Madness PM on How
to Build a Successful MVP

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10. Chia-Chen Liu
TONIGHT’S SPEAKER
Formerly at

11. What is MVP
A minimum viable product (MVP) is a product with just enough features to satisfy
early customers, and to provide feedback for future product development.

12. Early Customers
Diffusion of innovations Everett Rogers 1957
Early Market Mainstream Market
Diffusion manifests itself in different ways and is highly subject to the
type of adopters and innovation-decision process.
``````` `

13. How to build a MVP
Innovation of technology or product ≠ MVP

14. To build a MVP...
● You still get to decide what “product” you are going to build
● Basic features/functionalities that work for your early customers
Beyond MVP:
Source

15. Keys to a Successful MVP
DOs

16. DO #1:
Understand the Differences between Mission and Vision
Founded 2006
● ONLY Streaming
● No one-off
download
● Web version first
(launched 2008)

17. DO #1: (continued)
Understand the Differences between Mission and Vision
● Mission is NOW, Vision is Future
● Keep your mission simple, so the product will be easy to
understand
● Design features accordingly - be straight forward but allow to
expand

18. DO #2:
Less, but better!
Remember! What “Minimum Viable” Product stands for
● Less functionality but better
● Focus on mission not vision
● Really focus on what your early audience want/need
● Decide whether a feature is a MUST or nice to have

19. DO #3:
Establish Short Term and Long Term Goals, and Measure It!
This allows you to assess and decide
● What’s the priority
● What’s the trade off
● What’s the focus

20. Case: Linked : Mission to Vision
The mission of LinkedIn is simple:
“Connect the world’s professionals to make
them more productive and successful.”:
● To connect
● To showcase
Mission to Vision
Vision:
“Create economic opportunity for every
member of the global workplace”
POST
MVP

21. DON’Ts

22. DON’T #1:
Change the Scope of the MVP
● This does not mean you can’t
change the ways how a feature
works
● Unless there is a good reason for
it (such as competitor’s new
product/feature launches)
Photo source

23. DON’T #2:
Settle for Quick Over Quality
● It’s the quality that determines the lifetime value of your product
● Building a high quality product with scalability in mind saves both
time and money in the long run
● Easier said than done - make sure you address the consequences of
the trade-off POST MVP

24. DON’T #3:
Launch the Product Without Beta and Soft Launch
● Beta - to optimise the app for
larger soft launch
● Soft launch - prove retention or
monetisation
MVP

25. DOs
1. Understand the difference between mission and vision
2. Less, but better
3. Establish long term and short term goals
DON’Ts
1. Change the scope of the MVP
2. Settle for quick over quality
3. Launch the product without Beta and soft launch

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