1. Discuss L2, making an MVP Agenda: – Discuss L2, making an MVP Coming Up: Discuss Customer Segments (L3) Report on Value Proposition (L2)

2. Developing a product For the FEW, not the many Focus on the early evangelists – Are the most willing and eager – Have a problem or need – Understand they have a problem – Actively searching for a solution – May have interim solution – Committed/can quickly acquire ability to purchase

3. MVP and Discovery PhaseActionGoal Prepare for customer engagement Build lo-fi MVP Engage customers See if the vision of the need/problem matches and how important the problem is Low Fidelity MVP Problem Test Gradually increase invitations to MVP. Observe their behavior. Keep meeting customers. Consider if it can scale. Understand the problem/need you are solving Does the customer care? High Fidelity MVP testInvite more customers Watch for velocity (how fast are customers activated). Determine whether customers will engage Discover earlyvangelists who clearly believe Optimize getting more customers Hang the “open” sign and try to get wine race to get customers Optimize get-customers strategy.

4. Low Fidelity MVP Strategy (web) Low-fidelity website – Describe the problem’s severity in words Does your office look like this? – Describe the problem, encouraging users to “sign up to learn more” – Shows screen shots of the solution (“pay your bills this way”) – Could be wordpress, Powerpoint, Google sites – Could insert a survey using Google Forms Youtube video You can use multiple MVPs

5. Low Fidelity MVP Strategy (product) Minimum – Slide-based, nonworking illustration or video – Shows the old way and the new way Options – Build out of styrofoam, wood, plastic – Sketches, 3-D drawing in Google Sketchup Goal: – Bring the product to life

6. Minimum Viable Products Minimum Viable Crappy products that nobody wants to use Products build by companies with better financing. Minimum + Viable: Good products that startups can build, test, and learn from

7. What do they look like? http://gethover.com/ Is there a cheaper, easier way to test if the customer will pay for your solution?

8. Web Examples http://blog.turnmvp.com/minimum-viable-product-examples/ http://scalemybusiness.com/the-ultimate-guide-to-minimum- viable-products/ http://scalemybusiness.com/the-ultimate-guide-to-minimum- viable-products/ Most basic approach – describe the problem's severity in words or pictures (“Does your office look like this?”) – Describe (illustrate) your solution (“pay your bills this way”) – Asks users to “sign up to learn more” if they have this problem More tools Landing page http://www.landerapp.com/

9. Let’s Try It

10. VP Out-of-the-building blog posts Narrative – describe what you did, and who did it – Your major goal for the week – what were you trying to do? Restate value proposition hypotheses – Describe Interviews, Surveys Report # of customers (>5 customers/team member) interviewed What did potential customers think about your value proposition hypotheses? Describe insightful interviews in detail Illustrate with Videos, photos – Other progress: Show MVP – Any other detail that is helpful Describe major insights Show updated Business Model Canvas (Scorekeeping) and reasons for changes

11. Wrap-up Key Take-aways: – Bring the idea to life with an MVP – MVP can help you test Coming Up: Discuss Customer Segments (L3) Report on Value Proposition (L2)