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Taking Ideas to Business using MVPs

How to shape your ideas into businesses using Minimal Viable Product approach?

What are MVPs?

What do they provide a start-up?

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Taking Ideas to Business using MVPs

  1. 1. Taking  Ideas  to  Business   via  MVPs  Manish Singhal, Chief SaarthiSaarthi Integrated Consulting LLPwww.saarthiconsulting.com ©  Copyright  Saarthi  Integrated  Consul5ng  LLP.  All  rights  reserved  
  2. 2. What makes a business? ©  Copyright  Saarthi  Integrated  Consul5ng  LLP.  All  rights  reserved  
  3. 3. Customer NeedUnless the idea addresses anapparent or latent need/pain pointfor a customer, it cannot be turnedinto a business. ©  Copyright  Saarthi  Integrated  Consul5ng  LLP.  All  rights  reserved  
  4. 4. Ability to MonetizeThere has to be a clear, simple andeasy way to monetize your service/product either directly by users orindirectly (by advertisers etc) ©  Copyright  Saarthi  Integrated  Consul5ng  LLP.  All  rights  reserved  
  5. 5. Risks for an idea to become aBusiness Execution – Building Your Product / Service Adoption - Relevance to the Customer Need in context of other options available Monetization – Relevant enough for the customer to pay ©  Copyright  Saarthi  Integrated  Consul5ng  LLP.  All  rights  reserved  
  6. 6. Can we minimize these Risks? ©  Copyright  Saarthi  Integrated  Consul5ng  LLP.  All  rights  reserved  
  7. 7. RedBus – First Product 2005: Based on a personal experience, Phani realized the in-efficiency in booking bus tickets  Customer Need •  Bus traveler should be able to find a seat across multiple bus lines easily •  Bus operators can be more efficient in filling their seats using a software which does so 2006: Developed a software for the bus operators to pool in the vacant seats ©  Copyright  Saarthi  Integrated  Consul5ng  LLP.  All  rights  reserved  
  8. 8. Linear Model of Business –Product Centric Approach ©  Copyright  Saarthi  Integrated  Consul5ng  LLP.  All  rights  reserved  
  9. 9. No takers!Not even for free! ©  Copyright  Saarthi  Integrated  Consul5ng  LLP.  All  rights  reserved  
  10. 10. RedBus – The second take Mid 2006: Got Mentoring from TiE and launched a market survey  Found that bus operators are only interested in selling tickets  Tested the idea with taking 5 tickets from an operator and selling them personally Late 2006: Pivoted the idea from selling software to becoming a sales channel for tickets! ©  Copyright  Saarthi  Integrated  Consul5ng  LLP.  All  rights  reserved  
  11. 11. Iterative Model of Business –Customer Centric Approach Customer   Discovery   Business  Valida5on   Customer  Valida5on   ©  Copyright  Saarthi  Integrated  Consul5ng  LLP.  All  rights  reserved  
  12. 12. Building a customer centric business is nothing but building a series of well targeted MVPs ©  Copyright  Saarthi  Integrated  Consul5ng  LLP.  All  rights  reserved  
  13. 13. MVP - Goals Bare minimum representation of your product which will test fundamental business hypotheses  Is Customer Need being met? If so, to what extent?  Will the customers be interested in using the product against other options available?  Will they pay for it? ©  Copyright  Saarthi  Integrated  Consul5ng  LLP.  All  rights  reserved  
  14. 14. “Your  Store,  Your  TV,    Your  Ads”   2010  October     November   December   •  Idea!   •  Func5onal   •  Market  ready   •  Survey   prototype   prototype   •  Business  plan   •  IT  BHU   •  Pilot  –  Khivraj   incuba5on   Bajaj   2011  January   Feb/Mar   May-­‐June   •  SOH    Instore   •  Jugaad  H/w  to   • Remote  Delivery   •  Pilot  –  Lifestyle   demo   • Web  based  control   •  Demo  –  Maru5/ • Paying  customers     •  Legal  Opinion   Hyundai   ©  Copyright  Saarthi  Integrated  Consul5ng  LLP.  All  rights  reserved  
  15. 15. Manish SinghalKey Skills – Business Catalyst, Ideation, Technology, Management, Operations  Several years of experience in start-ups as well as established companies like Sling Media, Ittiam Systems & Motorola  On the jury and mentor panel for several business plan competitions e.g. Power Of Ideas (Economic Times), White Knight (IIMK), Eureka (IIT Mumbai)  Contributed to MPEG-4 standard as a member of MPEG committee. Hold two patents on video technology  Mentor / Business Coach for Tech based businesses.  On Advisory board of Freshersworld.com & Moontara Technovations  B Tech Electrical Engineering IIT Kanpur 1992 @manish_saarthi http://in.linkedin.com/in/smanishsinghal ©  Copyright  Saarthi  Integrated  Consul5ng  LLP.  All  rights  reserved  
  16. 16. Q&A ? ©  Copyright  Saarthi  Integrated  Consul5ng  LLP.  All  rights  reserved  
  17. 17. Thank You!manish@saarthiconsulting.comwww.saarthiconsulting.com www.facebook.com/saarthiconsulting ©  Copyright  Saarthi  Integrated  Consul5ng  LLP.  All  rights  reserved  
  • DevanshAgarwal8

    May. 12, 2018
  • lalit_20

    May. 1, 2015
  • vinwizz

    Jan. 6, 2015
  • flydeas

    Nov. 16, 2012

How to shape your ideas into businesses using Minimal Viable Product approach? What are MVPs? What do they provide a start-up?

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