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Quick Left - Lean MVP Deck

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Quick Left - Lean MVP Deck

  1. 1. Welcome to Your Minimum Viable Product (MVP) Leveraging Lean for Longterm Success 1
  2. 2. You want to make software that will make you money Customers want to pay for solutions to their problems You think you know what customers want They think they know the best way to do their work You want to unveil the Titanic Customers want simple, intuitive solutions 2
  3. 3. No business plan survives first contact with the market”“ Steve Blank, Founder of the Customer Development Methodology 3
  4. 4. You want to be a part of the growth trends in the mobile application market. We want to help you get there. What you may not realize is that the best plan is, in fact, not a plan at all; the best plan is a process. Definitive Guide to Monetizing Your App - Localytics 4
  5. 5. 5 //Roadmap :: What is Lean / MVP? :: Advantages to Lean / MVP :: Success Stories :: Build•Measure•Learn Loop :: Why MVP? :: The Quick Left Way :: Unique Value Proposition :: The Core Loop :: Beta Release :: Return On Investment :: Your MVP :: Resources 6 11 15 16 20 23 30 31 35 37 43 49 //Nuts + Bolts //From The Experts :: The Impetus :: Lean Entrepreneur Concepts :: Fire Bullets, Then Cannonballs :: Reid Hoffman (LinkedIn) :: The Facebook MVP :: MVP Definition - Eric Reis :: No Stealth Mode - Steve Blank :: ROI Visuals - Lean Entrepreneur 10 12 13 18 19 33 34 38
  6. 6. “Lean Methodology” was pioneered as a just-in-time production solution by Toyota and popularized as a minimize-waste-maximize-value software development strategy by Eric Reis in “The Lean Startup.” “Minimum Viable Product” was introduced as a startup methodology in 2001 by Frank Robinson, inspired by the Nobel Prize winning Sharpe Ratio (1990), to maximize ROI and minimize risk in innovation. 6
  7. 7. TL;DR (Too Long; Didn’t Read) Summary Delivering MVPs within rapid feedback and iteration cycles inspired by Lean maximizes your speed to market and minimizes the risk of investing in features that customers don’t need. Quick Left focuses on core functionality that will deliver ROI both in terms of paid customers and valuable feedback. It’s up to you to execute the process and reap the rewards. This deck is your cheat sheet. 7
  8. 8. // The Quick Left Way :: Business Model Overview The Lean MVP Business Model Over Time Since Forever 4 Months 4 Months 4 Months Until Forever TestFlightPhotoshop App Stores 1 10 100 1000 100k 1MM EVPMVP v2.0 10k v1.0 Users Product Stage Platform Business Stage Development Stage Mad Scientist Accelerated Development Alpha Build Measure Learn Loop Beta Private Accelerated Development Build Measure Learn Loop Beta Public Market, Monetize + Iterate Public Launch Bringing a mobile application from concept to creation to market fit to monetization is no easy feat! Fortunately, the successes and failures of many software entrepreneurs before you are well documented and the tools, processes and business models are more well-defined and turnkey than ever before. 8
  9. 9. Do NOT build a Minimum Viable Product if you: 1 :: are building a “Sustaining Innovation” product 2 :: don’t mind being wasteful 3 :: already have validated product-market fit Otherwise … read on! 3 Reasons Not to Build an MVP (Cooper + Vlaskovits) 9
  10. 10. Lean Entrepreneur video :: http://youtu.be/OFWbnUAzFuE You really start seeing a pattern in the failures and it’s usually around people just believing what’s between their ears rather than validating what’s real out in the marketplace.” “ Brant Cooper, Author of “The Lean Entrepreneur” 10
  11. 11. 11 // Advantages of MVP + Lean Decrease Time to MarketEliminate Uncertainty Work Smart, Not Just Hard Monetize Quickly By starting with a minimal feature set that solves a fundamental problem (hypothesis), you can validate the value proposition (monetization). Each consequent step in response to customer feedback eliminates uncertainty as to whether or not new features enhance customer engagement. By investing in pre-validated features rather than a “shotgun” approach, you are able to do less development to deliver something your customers want faster and spend less money doing it. Moreover, fast iterations allow you to deliver constant delight to customers. By engaging customers from day 1, your progress is directly connected to the perceived market value. Further, by building for “Earlyvangelists” (Steve Blank), you not only capture ROI immediately but also catalyze natural tastemakers to recruit the customer base without a marketing spend. By developing only the features that solve validated and significant problems for a core customer segment rather than delivering feature-bloated updates, the time to market is faster and the value proposition is clearer. Customers will pay for simple solutions and for the opportunity to be heard and catered to. Inspired by “The Lean Startup: Principles” by Eric Reis
  12. 12. The Lean Entrepreneur (Cooper + Vlaskovits) • Cast for the fish that are biting • Offer a valuable customer experience • Solve the problem quickly + efficiently 12
  13. 13. // From the Experts - Jim Collins A bullet is an empirical test aimed at learning what works and that meets three criteria: a bullet must be low cost, low risk and low distraction. 10Xers use bullets to empirically validate what will actually work. Based on those empirical validations, they then concentrate their resources to fire a cannonball, enabling large returns from concentrated bets.” “ Jim Collins and Morten Hensen in “Great By Choice” Best-selling business author Jim Collins’ most recent work, “Great By Choice” is the culmination of 7 years of rigorous research following up on his previous books, “Built To Last” and “Good To Great”, answering the question, “Why do some companies thrive in uncertainty, even chaos, and others do not?” He identified companies that delivered 10x over the market for a 30-year period and, among others, “Fire Bullets, Then Cannonballs” was a common thread. Fire Bullets, Then Cannonballs 13
  14. 14. // From the Experts Core Characteristics of 10x Business Leaders Content from “Good To Great” by Jim Collins and Morten Hensen // Image credit: Canny Digital 14
  15. 15. 15 // Lean / MVP Success Stories // Illustrated Example • Launched with Login, Check-in and Rewards • Delivered the “Core Loop” of Go Somewhere, Check-in, Get Rewards (repeat) • Did not have Share functionality or any social interactivity (only activity feed) • Focused on customer feedback and rapid delivery cycles • Experienced 3400% user growth in 2010 • Monetized by selling access to its API — big companies (like Instagram) were relying on the location database to deliver geo tags to its users. When they learned this, they pivoted their business model to focus on their data. Nearly every application today that looks up a place is hitting the FourSquare API. Single-Feature MVP
  16. 16. 16 // The Build • Measure • Learn Loop In an effort to focus investment on validating the most heroic assumptions while providing value to customers and prioritizing the roadmap in alignment with market demands, the Build•Measure•Learn loop is the proven strategy for creating explosive growth for startups. Image Credit: Andrew Walpole
  17. 17. 17 // How It Works Image Credit: Andrew Walpole Build Measure Learn Develop a product that tests your biggest assumptions. For MVP, this is the basic premise that customers want your product to alleviate the most profound pain points. This is the test of your most basic value proposition. Analyze the data to determine the validity of the value proposition and the priorities on the development roadmap. Choose to persevere (continue to iterate and test) or pivot (change fundamental assumptions) as necessary. Ask questions of your users (more qualitative for early releases, more quantitative for later releases) that capture their use, feedback and wish list. Document these findings thoroughly.
  18. 18. 18 // What is an MVP? Image Credit: Mati Honorato If you’re not embarrassed by the first version of your product, you’ve launched too late”“ Reid Hoffman, Founder of LinkedIn
  19. 19. 19 // Case Study :: Facebook Move fast and break things” “ Mark Zuckerberg, Founder of Facebook Motto from 2001-2014 Move fast with stable infra” “ Mark Zuckerberg, Founder of Facebook Motto as of March 25, 2014
  20. 20. 20 // Why MVP? Image Credit: Mati Honorato Building the first car from scratch is hard. Getting customers excited at the sight of a wheel, or axis, is hard. Knowing if they want better speakers or heated seats is hard (and requires assumptions). Importantly, it takes a long time and a lot of money.
  21. 21. 21 // Why MVP? Image Credit: Mati Honorato Building iteratively mitigates these risks 1.Skateboard // You want to test whether people want an alternative method of going from point A to Point B. You throw a board on some wheels quickly and cheaply and start selling it. It works! 2.Scooter // You ask riders what they like (faster than walking!) and what they don’t like (too bumpy!). To solve the bump problem, you put on some handlebars. More customers start buying! 3.Bicycle // Customers tell you they want to go faster and, if possible, sit. You figure out that with this new design, they can do both! You build it and they buy it. And they tell their friends! 4.Motorcycle // Feedback surveys say that bikes are great, but customers can’t go as far as they want powered by their own legs. You add a motor. Customer satisfaction and sales increase! 5.Car // Your customers are so happy going to far-away places faster and more comfortably than walking that they want to bring their friends. You build a car based on your experience and it sells!
  22. 22. 22 // Why MVP? Image Credit: Mati Honorato If you’d started with a car, it might go 10mph to a max of 10 miles with no chassis or shocks. Build data-driven products through customer feedback to ensure you’re building the right thing at the right time. Build an enthusiastic customer base by validating their feedback and delivering what they want when they want it. This is the magic of Lean + MVP innovation.
  23. 23. Identify the problem Create a vision based on assumptions Identify the most heroic assumption that delivers the Unique Value Proposition Design an MVP to test that assumption in the quickest way without sacrificing quality or scalability (The Core Loop) Build the MVP with the goal of delivering the simplest software that tests the assumption while maintaining the MVP Run the Build•Measure•Learn loop as quickly and frequently as possible though TestFlight Continue to deliver value until you have 1,000 users in TestFlight (Private Beta) Leverage the active customers and validated roadmap into investment raise Build the roadmap into the Exceptional Viable Product (EVP) and release to the market through app stores (Public Beta) Launch v1.0 Grow users exponentially Monetize! Refactor for v2.0 to expand into new markets and revenue streams. 23 // The Quick Left Way :: MVP Applications Repeat the Build•Measure•Learn loop. Create excitement for v1.0
  24. 24. “Add this and I’ll pay… ” “Keep working at it..” 24 // The Quick Left Way :: MVP Development Timeline UsersPerceivedVelocityofValueAddition “Put m e on the m ailing list” “W here do I download?” “How do I give you $$” “I don’t care” UX/UI Alpha Private Beta 4 Months 4 Months 4 Months MVP V1.0 Idea Public Beta Public Launch EVP
  25. 25. 25 // The Quick Left Way :: MVP Development Timeline You may notice that the delta from MVP to v1.0 is small in terms of perceived velocity, but it represents a huge amount of work to gain enough learning to understand what features will deliver enough value to monetize a large customer base. Do not underestimate the “EVP Valley of Uncertainty.” EVP Valley of Uncertainty
  26. 26. Founder “I have a dream” “It’s finally happening” “Stick to the process” “Let me show my friends” “This feedback is gold” “They’re going to love what’s next” “Investors should see the value” “I know what’s next!” “Now we’re cooking with gas!” “It’s real! We’re a team!” “No one can catch me now!” “On the road to sustainability” Inner Circle “Cool Idea!” “You should build it” “Looks cool, I’ll totally use it” “I’m using this, but…” “It feels like you’re building this just for me!” “Add these things and it’ll be worth paying for” “Eh, it was cooler when they were small” Early- Vangelists “I’d love to give it a try” “You should think about X, steal Y from Z and simplify W.” “This is great, I’m telling my friends!” “I love watching the progress” “These are exciting times!” “I can’t live without this app” “Ooh, look, a new app!” Professional Investors “Neat idea - go do it” “Show me what you’ve got” “Prove your product-market fit” “Its got a chance at a viable business model.” “I want in! Let’s see if it works.” “Find a liquidation event” UX/UI Alpha Private Beta 4 Months 4 Months 4 MonthsIdea Public Beta Full Launch EVP 26 // The Quick Left Way :: MVP Development Timeline (Sentiment) Forever—>
  27. 27. Consultants Build the MVP ($240,000) Build v1.0 ($240,000) Technical Co-Founder OR Mid-Level Dev $120,000/yr ($40,000/4mo) or $90,000 ($30,000/4mo) $120,000/yr ($40,000/4mo) or $90,000 ($30,000/4mo) $120,000/yr ($40,000/4mo) or $90,000 ($30,000/4mo) Product Manager $60,000/yr ($20,000/4mo) $60,000/yr ($20,000/4mo) $60,000/yr ($20,000/4mo) Marketing $90,000/yr ($30,000/4mo) $90,000/yr ($30,000/4mo) UX/UI Design $60,000/yr ($20,000/4mo) $60,000/yr ($20,000/4mo) [P&L] ($240,000)/4mo ($50-60,000)/4mo ($340-350,000)/4mo ($100-110,000)/4mo + REVENUE UX/UI Alpha Private Beta 4 Months 4 Months 4 MonthsIdea Public Beta Full Launch EVP 27 // The Quick Left Way :: MVP Development Timeline (Billables) Forever—>
  28. 28. “Enough to test The assum ption” 28 // The Quick Left Way :: MVP Development Timeline (Features) ActualFeaturesThatUserscanUse “Enough to get a Seed Round” “Enough to leverage/entice users to pay” 0 4 Months 4 Months 4 Months MVP V1.0 Idea EVP EVP Valley of Uncertainty* *Notice that the actual amount of features added to get to EVP from MVP is small, but the real work lies in testing your primary assumption and app maintenance/tweaking Assumptions Only
  29. 29. 10 29 // The Quick Left Way :: MVP Development Timeline (User Growth) ProjectedUserAdoption 0 4 Months 4 Months 4 Months MVP V1.0 Idea EVP Assumptions Only; Poop in a Box 1,000 10,000 100
  30. 30. 30 You’ve identified a gap in the market that causes pain for a group of people and you’ve got a vision for how to solve it. Behind all the grandeur and dreams of “someday” is the Unique Value Proposition (UVP) that starts it all — what is yours? The Unique Value Proposition High-Concept Pitch The XYZ Analogies are time-tested and audience- approved vehicles for delivering a message. Explain your UVP like this: [Proven Example] for/of [Your Domain] Flickr for video (YouTube) A network for networks (Cisco) Inspired by “Made To Stick” (Chip + Dan Heath) and Venture Hacks This rigid format forces you to articulate your audience, function and solution in a brief and positive pitch. Explain it like this: We help X do Y by Z. Quick Left helps entrepreneurs develop great software by implementing Adaptable Agile. Inspired by Steve Blank’s “Lean Launchpad” // The Quick Left Way :: Unique Value Proposition
  31. 31. 31 Understanding what to build for the MVP is driven by identifying the Core Loop that tests the fundamental value proposition. Consequent releases include features that test the riskiest assumption that is key to the continued success the application. Don’t let the Minimum win over the Viable” “ David Aycan, Design Director at IDEO The Core Loop Do This Do This NextThen Do This // The Quick Left Way :: The Core Loop Inspired by Mariya Yao’s “Rapid Iteration”
  32. 32. 32 Don’t let the Minimum win over the Viable” “ David Aycan, Design Director at IDEO The Core Loop :: Examples Take Photo Add FilterShare Socially Instagram Go Somewhere Check InGet Reward FourSquare Fill SpaceBuy Space DropBox Read Reviews Buy ProductLeave Reviews Amazon Inspired by Mariya Yao’s “Rapid Iteration” // The Quick Left Way :: The Core Loop
  33. 33. 33 A Minimum Viable Product is that version of a new product which allows a team to collect the maximum amount of validated learning about customers with the least effort.” “ Eric Reis, Author of “The Lean Startup” Build the MVP // From the Experts - Definition of “MVP”
  34. 34. 34 Lean methods are changing the language start-ups use to describe their work. During the dot-com boom, start-ups often operated in “stealth mode” (to avoid alerting potential competitors to a market opportunity), exposing prototypes to customers only during highly orchestrated “beta” tests. The lean start-up methodology makes those concepts obsolete because it holds that in most industries customer feedback matters more than secrecy and that constant feedback yields better results than cadenced unveilings.” “ Steve Blank, Harvard Business Review No Stealth Mode // From the Experts - Steve Blank
  35. 35. 35 Use TestFlight First Engage your first 1000 customers using TestFlight to minimize market exposure while accelerating the Build•Measure•Learn loop. Utilize the “Earlyvangelists” to understand users’: • motivation for using • expected behavior of app • prioritize the roadmapcredit: Rand Fishkin TestFlight App Store Inspired by Rand Fishkin, Co-Founder of Moz and inbound.org // The Quick Left Way :: Beta Release
  36. 36. 36 Then EVP to App Store With 1000 engaged users and a mountain of validated feedback in the form of a prioritized roadmap, you have leverage. From this position, you can pitch investment for the EVP (minimizing risk and equity) or build the EVP yourself and go to market (maximizing risk and equity). credit: Rand Fishkin TestFlight App Store The “Exceptional Viable Product” contains a vetted feature-set and benefits from the organic buzz of an existing customer base. This represents the minimum investment that mitigates the most risk with the most potential for “hockey stick” growth. Inspired by Rand Fishkin, Co-Founder of Moz and inbound.org // The Quick Left Way :: MVP Applications
  37. 37. 37 Make no mistake about the journey you are on — MVPs are (typically) not intended for monetization. The return on investment from your MVP is data, insight and the ability to recruit and retain Earlyvangelists who will drive your app to the market. Validated feedback will inform iterative versioning through Alpha and Private Beta phases and will be your leverage with investors. This cycle continues through the public beta phase ramping up to the v1.0 release, at which point you will be ready to monetize your application. App monetization typically involves a combination of a Value Proposition and a Lever. Myriad case studies are at your fingertips, but which to choose will be little more than a hunch until your EVP is in flight and you’ve got a mountain of feedback from 1000 active users. MVP ROI Value Proposition Levers What type of transaction are you offering your customers? Who are your customers? The Value Proposition is the structure(s) of the application that attract your customers and keep them participating over time. How do you generate revenue within the Value Proposition? Is the app-user experience the primary revenue generator? The Levers are the mechanisms by which revenue is generated from the app. // The Quick Left Way :: Return On Investment
  38. 38. 38 // The Quick Left Way :: Return On Investment You invested wisely. Rather than building all of the things, you built the Core Loop and you are ready to get a return on your investment. You are committed to collecting user feedback and delivering iterative improvements to meet their needs. The insight is a valuable return on investment and you’re thinking about monetization. Images from “The Lean Entrepreneur”, Cooper & Vlaskovits
  39. 39. 39 // The Quick Left Way :: ROI Strategies Exclusivity Business Intelligence Raw Data Competitive Advantage Network Marketing Gamification White Labeling Risk Mitigation Access to Quality Access to Demographic Credibility Value Proposition Freemium (Gated Features) Pay-to-Play (One-time Fee / Subscription) A La Carte (Paywalls by Feature/Volume) Third Party (Advertisement / Sponsorship) Transactional Retail Levers
  40. 40. 40 // The Quick Left Way :: ROI Strategies Exclusivity Business Intelligence Raw Data Competitive Advantage Network Marketing Gamification White Labeling Risk Mitigation Access to Quality Access to Demographic Credibility Value Proposition Like New York nightclubs, access is granted “by invitation only” or after completing specified objectives. The buzz is “anyone who’s anyone is on there.” Raw data can be difficult to understand. Your app collects data and delivers to the user intelligence derived from that data. Make your users smarter. As Ferris Bueller said, “Life moves pretty fast. If you don’t stop and look around once in a while, you might miss it.” Capture data that otherwise would go undocumented. Your app makes your users better than their competition. It makes them faster, stronger, better informed or otherwise gives them an edge over non-app users. Users benefit from recruiting other users and so forth and so on. The functionality of the application is less important than the power of the community it attracts. Participation in the app earns status, points, badges, rewards, credits or other such currency either for its own sake, for competition with other users or for spending. The app does a thing that third parties want to put their brand on and resell to their customers so they license your application from you and make it look like them. The “insurance” model by which use of the application protects users from some inherent risk in their business. Functionality is less important than participation. Your app curates content, services, goods and/or people such that it provides easy access to a certain quality that users require. Your app organizes people, services or companies by valuable demographic characteristics that users require. Also known as the “Oracle” or “IBM” affect, users tell their bosses or their clients that they use your product in order to boost their own credibility and standing.
  41. 41. 41 // The Quick Left Way :: ROI Strategies Freemium (Gated Features) Pay-to-Play (One-time Fee / Subscription) A La Carte (Paywalls by Feature/Volume) Third Party (Advertisement / Sponsorship) Transactional Retail Levers Users can download the app and access a limited feature-set without charge (sometimes this is preceded by a full-featured free trial) and then pay to access more features or remove advertising. Users pay to download the app as a one-time fee or they pay a recurring monthly fee (as an in-app purchase or by having logins authenticated against an external payment system). This could also include tiered pricing for tiered feature or volume access as one-time or subscription fees. Features and volume are available a la carte rather than by packages or tiers. Payments are made as in-app purchases. Users are granted free access to the full feature-set of the app and are subjected to advertisements. An adjacent strategy to ads is sponsorship, either for memberships, feature-sets or particular content. Users have the ability to execute transactions within the app, for which they pay a fee (flat or as a percentage). This could be buying/selling goods, sending/receiving funds or even ratings, recommendations or promotions. Sellers pay flat or tiered fees for the ability to sell goods and/or content to customers. Additionally, buyers may pay for access to the marketplace (ie - flash sales) as a one-time fee, subscription or per purchase fee.
  42. 42. 42 // The Quick Left Way :: ROI Strategies - Examples Value Proposition Levers Competitive Advantage Raw Data Gamification Access To Quality Pay-to-Play A-La-Carte Third Party Transactional
  43. 43. // The Quick Left Way :: Worksheet [A statement about your credibility, passion, interest or vision], you have recognized a [describe the gap in the market you are pursuing] just waiting a software solution. Your vision addresses problems for stakeholders at [which part(s)] stage in the value chain. The key users in your vision, the ones that attract all the others, are [identify your target personas] and their most expensive problem is [describe the problem in a sentence or two]. Market Gap [X for Y by Z statement]. The MVP Value Proposition is [the value proposition(s) from page 40].Value Proposition [App Name] assumes that [target users] will use a [mobile/web] application to [action statement that infers a solved problem]. Riskiest Assumption 43
  44. 44. // The Quick Left Way :: Worksheet The Core Loop The fundamental Core Loop that allows [MVP Name] to test the assumption that [describe assumption] is the [describe Core Loop] functionality. In order to make that loop easy to use, [MVP Name] encourages [user personas] to [conduct the actions in the Core Loop]. The assumption is validated when a representative group of users has [moved through the Core Loop] [qualified by a metric like frequency, volume, success rate, etc.]. The MVP delivers a return on the investment when it validates the assumption and produces real customer feedback that informs the prioritization of the feature development roadmap. Then Do ThisDo This MVP Name With This Ancillary BenefitYou Might Need This 44
  45. 45. // The Quick Left Way :: Worksheet The Minimum Viable Product (MVP) 45 Description of mockup, screen grab or step of envisioned user flow. Multiple pages if necessary. Description of mockup, screen grab or step of envisioned user flow. Description of mockup, screen grab or step of envisioned user flow.
  46. 46. 46 The Build • Measure • Learn Loop In the private beta, public beta and even into v1.0 and beyond, you will repeat this loop as quickly as possible. You’ll ask questions, document responses, codify learnings, decide whether to Pivot or Persist, deliver iterative development and continue to grow. You will do this with your first 10-100 users manually and begin to automate as you grow to 1000, 10k, 100k and 1MM users. credit: Andrew Walpole // The Quick Left Way :: Worksheet
  47. 47. 47 Build Measure Learn • Core Loop Action 1 • Core Loop Action 2 • Core Loop Action 3 • Sub-Actions • Sub-Actions • Core Loop Action 4 - - - - - - - - - - - - - - - - - - - - - The next list depends upon what is learned through user feedback cycles. • What do we objectively know (qualitatively and quantitatively)? • In what context(s) are those important? (monetize, features, experience/design, virality, stickiness, etc.) • Should we Pivot or Persevere? • How to MVP our learnings? • Groom the roadmap (video, photos, annotations, profiles, geolocation, driving directions, reviews/ endorsements, payment processing, punch lists, etc.) • How many times per week do you think to use the app? • How many times per week do you actually use it? • How many actions per month could you do? • Do you intuitively know what to do in/ with the app? • Do you know what the buttons do? • Do you know what the terms mean? • Can you perform the Core Loop and is that meaningful to you? • “It would be a mission critical app if…” • “It would be awesome if … “ • What else do you want to know about a content/action to make the decision easier? • What else do you want to know about? • Will you come back to the application? • How much is this worth to you? What levers help make this argument (qualitative + quantitative)? // The Quick Left Way :: Worksheet
  48. 48. // The Quick Left Way :: Worksheet With months of validated user feedback and myriad times around the Build•Measure•Learn loop including iterative updates to the app, you will know what belongs in your EVP (your Unique Value Proposition (UVP). At this stage, you’re also nearing 1000 active users on TestFlight and you’re leveraging that traction to investors who can help you get to a broad v1.0 release including full-time developers, an expanding C-suite, a marketing engine and a monetization strategy. This is when you bring your EVP to the app store and begin public beta. What features are in your EVP? You won’t know until you get here. Exceptional Viable Product By now you will have a validated assertion that one or a combination of Value Propositions have traction in the market and you will know how that uniquely applies to the market you are serving. Which one or ones will it be? You won’t know until the market has told you. Unique Value Proposition Similarly, your user testing should provide insight into how you can monetize your UVP. Will users put up with advertisements? Will advertisements be interested in your user base? Will users pay monthly fees? Is one persona more than the other susceptible to transactional fees? Can you sell your user data in the open market? You won’t know until you get here. Levers 48
  49. 49. // Required Reading + Watching //Watching Eric Reis // The MVP of Lean Startup :: https://www.youtube.com/watch?v=E4ex0fejo8w Steve Blank // The Startup Owner’s Manual :: https://www.youtube.com/watch?v=H2OkLcOCjEs Sean Murphy // Is Your MVP the Death Star? :: https://vimeo.com/70255521 LucideaStudio // Jim Collins’ Fire Bullets, then Fire Cannonballs :: https://www.youtube.com/watch?v=uqP_-l4o4m8 //Reading - Web Mariya Yao // Rapid Iteration for Mobile App Design :: http://goo.gl/l6tYPF Steve Blank // Why the Lean Startup Changes Everything :: http://goo.gl/0y85wI //Reading - Books Eric Reis // The Lean Startup :: http://goo.gl/yaOvuF Alistair Croll & Benjamin Yoskovitz // Lean Analytics :: http://goo.gl/SVPEUx Brant Cooper & Patrick Vlaskovits // The Lean Entrepreneur :: http://goo.gl/3VvJPW Alexander Osterwälder & Yves Pigneur // Business Model Generation :: http://goo.gl/TB03hf Steve Blank // The Four Steps to the Epiphany :: http://goo.gl/Z3YWmM 49
  50. 50. // Recommended Resources //Watching The Four Steps to the Epiphany Presentation at Startup Grind New York (Steve Blank) :: https://www.youtube.com/watch?v=pXIZIasCp6I Lean Entrepreneur Trailer Video :: http://youtu.be/OFWbnUAzFuE //Reading - Web Build•Measure•Learn Infographic (Andrew Walpole) :: http://blog.andrewwalpole.com/2013/08/30/build-measure- learn-feedback-loop-infographic/ Stop Overthinking…Just Stop (Mati Honorato) :: http://www.mhonorato.com/stop-overthinking/ The Lean Launchpad (Steve Blank) :: http://steveblank.com/2011/09/22/how-to-build-a-web- startup-lean-launchpad-edition/ 7 Unlikely Recommendations (Rand Fishkin) :: http://moz.com/rand/7-unlikely-recommendations-for-startups- entrepreneurs/ 3 Reasons NOT to Build an MVP (Brant Cooper and Patrick Vlaskovits) :: http://pando.com/2013/02/04/three-reasons-not-to-build-a- minimum-viable-product/ App Monetization (Annum Munir) :: http://info.localytics.com/blog/app-monetization-6-bankable- business-models-that-help-mobile-apps-make-money Practice Trumps Theory Blog (Ash Maurya) :: http://practicetrumpstheory.com/ Venture Hacks: Pitching :: http://venturehacks.com/friends Practice Trumps Theory Blog (Ash Maurya) :: http://practicetrumpstheory.com/ SK Murphy Lean + Customer Development Blog (Sean Murphy) :: http://www.skmurphy.com/ Localytics :: App Infographic :: http://www.localytics.com/infographics/evolution-of-the- almighty-app/ Canny Digital’s summary of “Good To Great” (Collins, Hensen) :: http://www.slideshare.net/CannyDigital/great-by-choice-jim- collins //Resources The Lean Canvas :: http://leanstack.com/ User Acquisition :: Launch Rock :: http://launchrock.co/ //Reading - Books Jim Collins // Great By Choice :: http://goo.gl/YvQaYF Chip & Dan Heath // Made To Stick :: http://goo.gl/yTmBUr Tom Kelley // The Art of Innovation :: http://goo.gl/OCkjzN 50
  51. 51. // Additional Resources 51 http://brolik.com/blog/build-app-minimum-viable-product-mvp/ http://www.slideshare.net/CannyDigital/great-by-choice-jim-collins http://www.leanproductflow.com/ http://leananalyticsbook.com/ http://practicetrumpstheory.com/minimum-viable-product/ http://thenextweb.com/dd/2014/11/12/15-ways-test-minimum-viable-product/ http://scalemybusiness.com/5-reasons-why-solving-the-right-problem-can-make-you-rich/ http://www.uxpin.com/guide-to-minimum-viable-products.html http://www.syncdev.com/ http://www.syncdev.com/index.php/minimum-viable-product/ http://blog.andrewwalpole.com/2013/08/30/build-measure-learn-feedback-loop-infographic/ http://scalemybusiness.com/the-ultimate-guide-to-minimum-viable-products/ http://ramlijohn.com/minimum-viable-product-is-not-about-features/ http://www.slideshare.net/LeanStartupConf/rapid-iteration-for-mobile-app-design http://www.startuplessonslearned.com/2013/10/rapid-iteration-for-mobile-app.html http://steveblank.com/2011/09/22/how-to-build-a-web-startup-lean-launchpad-edition/ https://medium.com/@codepo8/the-web-application-myth-69c6b1506515 http://www.slideshare.net/UTR/how-to-pitch-a-vc-dave-mcclure http://pando.com/2013/02/04/three-reasons-not-to-build-a-minimum-viable-product/
  52. 52. 52 We are passionate individuals focused on crafting impactful solutions to our clients most complex problems. CEO - Consulting | Ingrid Alongi “ ”
  53. 53. 53 Thank you! BOULDER SAN FRANCISCO PORTLAND 902 Pearl Street Boulder, CO 80302 1285 Folsom Street San Francisco, CA 94103 529 SW 3rd Ave. Portland, OR 97204 Note: All contents of this document are confidential and subject to the Terms And Conditions of the NDA.