As an established business with a recognized brand and a budget to match, is it better to do 3 of the things off your wish list for this year, and do them big, big, BIG? Or to try 8 things, put something out there that adds value, see what sticks, and double down on the strategies that take off? Startups should hardly need convincing to trim things down, given their limited resources and race to market. But even here, many promising ambitions become hopelessly mired in feature creep. Let’s explore the value of starting small, learning and iterating; challenges to be overcome in the implementation; and entertain scenarios when a minimum viable product may be a bad idea in the first place. About the Speaker Eric consults as a technical product manager and is tinkering away at the next big thing in social payments.

1. Quest for a minimum viable product

2. What is a minimum viable product?
• …that version of a new product which allows a
team to collect the maximum amount of
validated learning about customers with the
least effort.

4. There are valid reasons not to build an
MVP, which runs counter to lean startup
principles.

5. 1. You are building a sustaining
innovation product.

6. Why?
• Your customers are smart. They understand
the problem and solution and so are
believable. The features they ask for likely
represent their true needs.
• Competition is everywhere. You can see
what’s working and what isn’t.
http://pandodaily.com/2013/02/04/three-reasons-not-to-build-a-minimum-viable-product/

7. 2. You don’t care if you’re wasteful.

8. 3. You achieve product-market fit.

9. Points uncovered in discussion
• Waterfall development is always fraught with
risk, no matter your resources. Lean product
development helps you learn from the very start
• MVP: The donut has to at least be edible
• Corporations may have less to gain from a public
beta. If they are developing a new product for
their existing market, they can
– Share early iterations privately with their customers
– Get valuable feedback from real people
– Clearly set expectations and avoid damaging brand

10. Quest for a minimum viable product