XII: Class Story
The MVP (Minimum Viable Product) is the first publicly available version of a product. It's purpose is to engage the market and test the job to be done customer hypothesis and the business model.
Great MVPs stick to the basics. What are the core features you really need. What is the minimum you can build to deploy the product AND deliver the functionality that gets the customer's job done? When Uber started it had no drivers and no cars. Uber's MVP was a rudimentary ride hailing app and a group of several dozen limos positioned around San Francisco that Uber paid to wait for someone to use the app. Uber needed the app to connect a passenger to a limo. The Uber MVP got the customers job done. It did not test the concept of recruiting independent drivers with cars. But it proved several key pieces of the business model for example people used and liked the service. One step at a time.
The MVP starts with the vision statement about the customer's job to be done. Zipcar enables consumers who don't own a car to conveniently and easily rent one for hourly or daily use. The MVP tests answers to all of the questions raised in the business model canvas we read about in the "Lean Start-up" article on class 5.
In this class we will discuss new educational technology product "Tablet Teach" and specify the MVP.
- What Drones and Crop Dusters Can Teach About Minimum Viable Product
- "Why the Lean Start-Up Changes Everything "
- Business Model Canvas
- What is your vision for TabletTeach
- Develop a set of criteria to use in evaluating the opportunity associated with each of the product concepts Russo is comsidering
- Evaluate and rank the four product concepts
- Which concept and job to be done hypothesis do you want to target with the MVP?
- What is your MVP recommendation? Describe what you would build include function, feature, hardware, software
- What is the DMU?
- What is the DMP?
- What is the ecosystem surrounding the MVP?
- What competitive forces are present?
- What categories of the Business Model Canvas are covered by the above analysis. How would you get answers to the other categories?
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