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Testing MVPs with Crowdfunding

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Justin Wilcox, Customer Development Labs, Testing MVPs with Crowdfunding @ The Lean Startup Conference 12/3/12

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Testing MVPs with Crowdfunding

  1. 1. crowdtestingusing crowdfunding totest an MPV justin wilcox customerDevLabs.com
  2. 2. exploring businesses
  3. 3. Crowdfunding MVP• Crowdfunding is like swiss cheese• It smells good and has holes in it• MVP sometimes stands for most valuable player• Crowdtesting is different than crowdfunding• See they have different letters in them
  4. 4. GeorgeBush
  5. 5. Conversion Rates
  6. 6. fool
  7. 7. Crowdfunding MVP• This slide will be skipped over• The slide following this one is not intended• To be offensive in anyway• It’s more of an attention grabber as we fly by it• Here we go…
  8. 8. your startup isn‘t abusiness it‘s a hobby
  9. 9. your startupopportunity costhobby business $175k salary fun obsession profit $ costs lots $
  10. 10. i’vestartedhobbies
  11. 11. interviewing customers“does it solve a problem?” an idea…
  12. 12. paper prototypes “can we solve it?” yes, it does
  13. 13. business or a hobby?“how much will they pay?” our own problem
  14. 14. business or a hobby?“how much will they pay?”critically important
  15. 15. savior
  16. 16. savior
  17. 17. pebblehobby product business
  18. 18. Bounce: Be on time Goal: $ ______ 5 10 Price: $ ______how much willpay… pay? will they they
  19. 19. crowd funding testing
  20. 20. AB
  21. 21. Bounce pre-orders $5 x 1.4% = $.07/visitor$10 x 1.7% = $.17/visitor before built product sample: 5,549
  22. 22. how much will they pay? business or a hobby
  23. 23. crowdtesting your product business or a hobbybefore you build it [clap now]
  24. 24. crowdtesting detailstips bit.ly/crowdtestingjustin wilcox customerDevLabs.com

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