The Minimum Viable Product (MVP) is one of the most important concepts in Lean Startup methodology. A well-designed MVP tests your core business hypotheses with a dramatically simplified product that saves you a huge amount of time and effort. The Concierge MVP, and its sibling the Wizard of Oz MVP, are clever techniques that replace a complicated technical product with humans. With minimal engineering time, you’ll be able to test the key question of your business: “does anyone even want what you’re building?” In this guide we’ll learn: what the Concierge MVP and Wizard of Oz MVP are examples of effective MVPs which MVP type to
Dropbox is now a technology giant, valued at $10 billion in a 2014 funding round. It’s a very complex product, honed over a decade of development and hundreds of millions of dollars of investment. But Dropbox didn’t start with the slick, seamless product you use today. So let’s go back to the beginning, before Dropbox had a polished product and thousands of employees. Back to Dropbox’s original Minimum Viable Product (MVP). If you’re an aspiring entrepreneur, be emboldened by the idea that Dropbox started with just about as much as you have right now.
In lean management, what does Genchi Genbutsu mean? Why is it so important for your business? Learn the principles of “go and see” to better meet your customers’ needs and build a winning product.
Does your startup need to pivot? Is it at the brink of failure, and you need to find a new business model or customer segment? Figure out how to pivot your startup correctly in this guide from Lean Startup.
Any business has to get customers. In paid marketing, you have to pay for each customer. This is the Customer Acquisition Cost (CAC). Then, each customer gives you a certain amount of value over time, or the Lifetime Value (LTV) How do you calculate the LTV and CAC? How is it important that these two numbers related to each other? Learn in our guide from Lean Startup.
What is lean experimentation in a startup? How do you run lean experiments to learn more for your company? Learn the tips from Lean Startup.
What is a Wizard of Oz MVP from Lean Startup? How do you build one? What does it teach you about your business? Learn the key strategies from Lean Startup.
So you want to answer your key hypothesis about your product or company. How do you get the right data? Through split testing or A/B testing. Learn the key principles of Split Testing from Lean Startup here.
What was Snaptax? How did it help file your taxes? What happened to Snaptax today?
What is a growth engine in Lean Startup? How does it power your growth so you can build the most valuable and impactful company possible? Learn about the three growth engines here: the Sticky Growth Engine, the Viral Growth Engine, and the Paid Growth Engine.