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Workshop 4 belize minimum viable product

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Workshop 4 belize minimum viable product

  1. 1. Workshop 4 – The Minimum Viable Product Mario Reyes Research Manager P3 Ventures S.A.
  2. 2. Objectives of the Workshop •  Understand the function of a prototype and of a Minimum Viable Product, in each stage of resolution. •  Bring the solution to its essential features. •  Explore if the solution works in the customer’s context. •  Prepare the testing of an early prototype of the solution (Minimum Viable Product). Include in the plan the objectives and indicators to be measured.
  3. 3. Activity 1 •  Individually, list the 5 main features of the product or solution, from the 1st to the 5th, in order of importance. •  Then, 2 people in each group should present their exercise. 15 minutes
  4. 4. Returning to the Loop of Validated Learning…
  5. 5. Definition of Minimum Viable Product “Is that version of a new product which allows a team to collect the maximum amount of validated learning about the customers with the least effort”.   (Eric Ries)
  6. 6. Minimum Viable Product Product
  7. 7. Focus on the 20% of the funcionality that will be used the 80% of the time.
  8. 8. Do many iterations and pivots •  Iterations: small changes in features specific to the product. •  Pivot: a big change based on the testing of a basic assumption of the value propostion.
  9. 9. Role of the prototype in a Design Thinking Process UNDERSTAND   OBSERVE   DEFINE   IDEATE   PROTOTYPE   TEST  
  10. 10. Prototype Definition •  A prototype is an integrative tool, which allows to learn, communicate and persuade.
  11. 11. Traditional Lineal Approach
  12. 12. Standard Sequential Approach
  13. 13. Suggested Approach Prototyping multiple Minimum Viable Products
  14. 14. Tools for making the Minimum Viable Product •  Physical prototypes of low and high resolution (3D printing): – Develop tests: split test, A/B test, etc. •  Storyboard (low resolution). •  Low resolution service prototypes. •  “Wizard of Oz” Prototypes (higher resolution). •  Crowdsourcing Test.
  15. 15. Visual Thinking •  “Use of visual tools such as pictures, sketches, diagrams and post-it notes, to construct and discuss meaning.” (“Business Model Generation” Alex Osterwalder)
  16. 16. The Four Steps of Visual Thinking Look See Imagine Show What is it there? What am I looking? What are the limits? What do I see? Have I seen these before? What patterns emerge? Which is the most outstanding? What is missing? How can I manipulate the patterns? How can I close the breaches? Have I seen enough? Or do I need to come back? This is what I saw and this is what I believe it means. Is this what I expected or not? When you see this Do you see the same things?
  17. 17. An image is worth a thousand words
  18. 18. 6 Ways of Seeing •  Why? •  How? •  When? •  Where? •  How many? •  Who/what?
  19. 19. To Look vs. To See •  To see is the opposite side of looking. To look is to recollect visual information; to see is to select and identify patterns, is to identify the problem.
  20. 20. Looking at a problem is the way to begin, but doesn’t add to the solution. For knowing what to fix, we need to be capable of seeing what is damaged.
  21. 21. How to Show the Problem
  22. 22. Different Levels of Resolution: Lo-fi vs Hi-fi
  23. 23. Different Levels of Resolution Low Resolution Medium Resolution High Resolution
  24. 24. How to do quick prototypes? Learn from low cost and quick tests.
  25. 25. Diverse tools: drawings, storyboards, videos, etc.
  26. 26. •  Technique originated in cinematography. Walt Disney pioneered it, discovering a technique that allowed him to follow up the progress and improve the story. •  It is a useful exercise to imagine and create new possibilities. •  The relevant thing is the story that is being told, the images just support the story. Storyboard
  27. 27. Storyboard Example •  Offer: Molecular marker test of marine species. Certification of the trazability of marine products, by the application of an aunthenticity test. This test allows to know if what is being sold is authentic.
  28. 28. Storyboard Premium: Ipad app
  29. 29. Storyboard 6 keyframes Keyframe 1 Keyframe 2 Keyframe 3 Keyframe 4 Keyframe 5 Keyframe 6
  30. 30. Activity 2: Draw an Storyboard of the Solution •  Individually, create a storyboard of the solution, explaining how it fits in the context of the problem. •  Following that, two persons in each group should present their storyboard to the rest of the group and receive feedback from them. 15 minutes
  31. 31. Early Prototype: Dropbox Publish or launch a web site of a inexistent product. When they access the site, they are offered to be the first ones in trying the beta prototype if they provide contact information or answer questions. It applies to web and physical projects.
  32. 32. Early Prototype: Groupon •  They started as a collective activism platform named El Punto, but they got weak results. •  They promoted themselves using a wordpress blog and sending pdf coupons. •  They started with the announcement of a 2x1 discount in pizza. •  During the first announcement 20 people bought. •  How much is this company worth today? 12 billion dollars.
  33. 33. Pain Test: Ekidsmovies.com •  Value the quaintity of annoyances they confront with the problem. •  The web site ekidsmovies.com sent an announcement in Google, about online movies, that gave access to the testing web site. Frome the people who entered, 50% gave their email. •  They were asked to describe the annoyances they experienced in relation to classifications for movies directed to kids and the lack of access to them.
  34. 34. The Concierge MVP: Food on the Table •  The Concierge MVP is a learning process with the first customers.. •  A service that offers the elaboration of a weekly meal plan, where you can budget expenses in different stores based on recipes and ingredients. •  At the moment, the sites allows to review thousands of stores, but they started just with one store for one client. •  It was the first “concierge” client, who received the shopping list at home.
  35. 35. Wizard of Oz: Carsdirect, Zappos The intention of purchasing was validated, without having the whole logistics.
  36. 36. Wizard of Oz: Berkeley Pizza •  They started without a physical space.. •  They assured themselves there was enough demand. Only when they showed that there was enought people intending to pay, the invested in a location for a restaurant.
  37. 37. Crowdfunding Test: Pebble •  Pebble is a digital watch that was funded exclusively by Kickstarter. The funding of people is proof that you have potential customers.
  38. 38. Split Test •  A version is tested with one group of customers, and the other version with the other group. •  You compare the results with one and the other version: with or without the feature.
  39. 39. Refining  the  Features:  The  100  dollar   test   •  Ask the customer to point, between a list of features, how he will distribute 100 dollar. •  This test allow to understand what features are the most important for customers. It helps to focus when you have many features.
  40. 40. Ranking System •  Ask the customers to qualify the features that are more important to them. •  They have to be the feature that better respond to a problem faced by a customer segment.
  41. 41. “Choice, happiness and Spaghetti Sauce” Malcolm Gladwell (www.ted.com)
  42. 42. Apps for Prototyping •  Mobile Prototypes
  43. 43. Physical Prototypes •  Quick Prototyping: Physical model of the project. •  3D Printing.
  44. 44. Levels of Resolution in a Porsche Prototype
  45. 45. Prototype of the First Mouse
  46. 46. IDEO Method: Supermarket Cart •  IDEO was presented the following challenge for a TV show: reinvent the supermarket cart. •  For that reason, they put in practice their methodology, observing, generating ideas, prototyping and refining, until they got to a result in record time. •  http://www.youtube.com/watch? v=McabDMc9Z4Y
  47. 47. 3D Printing
  48. 48. Prototypes(D. School Stanford) “The only way to do it is to DO IT.” “Nothing is a mistake. There’s no win or fail. There’s only MAKE”
  49. 49. Role Playing The experience of a product or service, with all their emotional and sensorial components, it is better expressed by acting and performing the role of the customer.
  50. 50. Activity: Physical Prototype •  Choose any project from the group that its closer to a physical product. •  Individually, look for objects you may have in your sorrouding (any object). •  Build a prototype that represents this product. •  Then simulate that you are introducing the product to the customer. Simulate an introduction of the product to your customer. 15 minutes
  51. 51. Business Opportunities!... •  They emerge when you there are barriers to consumption. – A barrier to consumption means that persons or companies posses barriers that stops them from doing certain activities or to consume certain products or services.
  52. 52. Business Opportunities!... •  Also when markets are saturated. – A market is saturated when the available solutions don’t add value and the companies are not able to offer better solutions.
  53. 53. •  The objective should be to identify the quantity of non consumption in a market space. •  You have 4 types of barriers to consumption: Which are the main Barriers to Consumption?
  54. 54. Barriers to Consumption You find barriers in: • Skills • Resources • Access • Time
  55. 55. Barriers to Consumption: Skills •  Frequent problems when a new technology is introduced. •  Heart Start Home Defibrilator from Phillips, to be used by people without medical training.
  56. 56. Barriers to Consumption: Resources •  M o t o f o n e b y Motorola (2006): the first cel phone for customer of lower incomes in developing nations.
  57. 57. Barriers to Consumption: Access •  Online Retailers like A m a z o n a l l o w customers to access to a broad range of products form every location.
  58. 58. Barriers to Consumption: Time •  Metro: newspapers for people without enough time, that can be read in the public transport.
  59. 59. Summarizing…   •  Barriers  from  skills:  a  simpler  solu>on.     •  Barriers  from  resources:  less  costly  solu>on.     •  Barriers  from  access:  more  accessible  solu>on.   •  Barriers  from  >me:  quickest  solu>on.