{"id":7917,"date":"2020-03-10T11:42:00","date_gmt":"2020-03-10T15:42:00","guid":{"rendered":"https:\/\/www.shortform.com\/blog\/?p=7917"},"modified":"2022-04-13T22:43:19","modified_gmt":"2022-04-14T02:43:19","slug":"minimum-viable-product-examples-mvp","status":"publish","type":"post","link":"https:\/\/www.shortform.com\/blog\/minimum-viable-product-examples-mvp\/","title":{"rendered":"Minimum Viable Product: 4 Critical Examples"},"content":{"rendered":"\n<p>What is a minimum viable product in Lean Startup terms? What examples are there of how to build one?<\/p>\n\n\n\n<p>Learn the 4 critical types of Minimum Viable Product, directly from the book Lean Startup.<\/p>\n\n\n\n<!--more-->\n\n\n\n<h2 class=\"wp-block-heading\">Lean Startup Chapter 6: Test<\/h2>\n\n\n\n<p>This Chapter is the most important in this&nbsp;Lean Startup summary. We\u2019re going to spend extra time here.<\/p>\n\n\n\n<p>Your goal is to move through the <a href=\"https:\/\/www.shortform.com\/blog\/build-measure-learn-loop-lean-startup\/\">Build-Measure-Learn<\/a> loop as quickly as possible. Even though the loop has 3 steps, Build is often the step where you will waste the most time.<\/p>\n\n\n\n<p>The critical question you need to answer is: what is the <strong>MINIMUM product you can build to get reliable data on your hypothesis<\/strong>?<\/p>\n\n\n\n<p>This product is termed the Minimum Viable Product (MVP) and is one of the most important concepts in Lean Startup. This is the product that is the bare minimum to test your hypothesis. Unlike normal product development, you are NOT aiming for product perfection \u2013 you\u2019re merely trying to start learning as soon as possible.<\/p>\n\n\n\n<p>The <a href=\"https:\/\/www.shortform.com\/blog\/value-hypothesis-growth-hypothesis-lean-startup\/\">value hypothesis<\/a> is key to most startups \u2013 \u201cdoes anyone want what we\u2019re building?\u201d The typical wrong route many entrepreneurs make is to simply build their full product, then wait for results. Here\u2019s the problem \u2013 <strong>every extra feature you add before testing means wasted time<\/strong>. You might be pointed entirely in the wrong direction. Building features nobody wants means more wasted time before you test and find out you\u2019re in the wrong direction.<\/p>\n\n\n\n<p>Here are a few radical examples of MVPs:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">MVP Example #1: The Landing Page MVP<\/h3>\n\n\n\n<p>Let\u2019s say you wanted to build a new social app where you take a picture of yourself, and the app swaps your face with celebrities. You can then share the hilarious results on social media. We\u2019re going to call this company CelebrityFaceSwap (we\u2019ll use this example throughout this summary).<\/p>\n\n\n\n<p>You have some assumptions around conversion rates to make the app sustainable \u2013 out of 100 people who visit your site, 20 people might sign up, 10 people will stick around for a week, and so on.<\/p>\n\n\n\n<p>Let\u2019s focus on the hypothesis of the 20% sign up rate (20 signups out of 100 visitors). <strong>What is the MVP in this situation?<\/strong> Think about it for a sec.<\/p>\n\n\n\n<p>Then <a href=\"https:\/\/www.allencheng.com\/landing-page-mvp\/\">come here to learn what a Landing Page MVP is<\/a>.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"> MVP Example #2: The Video MVP<\/h3>\n\n\n\n<p>Before building a functional product, you can simply make a video simulating what the product does. <strong>Even without using the actual product, watching the video will give enough info for viewers to decide whether they want the product shown.<\/strong><\/p>\n\n\n\n<p>This is what Dropbox did at its beginning. If you haven\u2019t heard of it, Dropbox is a file syncing software that synchronizes your files across your devices. If you upload a Word doc to your Dropbox folder on your laptop, you can then access the same doc on your work computer or your phone.<\/p>\n\n\n\n<p>Read more about how Dropbox launched a billion dollar company with <a href=\"https:\/\/www.allencheng.com\/video-mvp-lean-startup\/\">just a video MVP here<\/a>.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">MVP Example #3: The Concierge MVP<\/h3>\n\n\n\n<p>Many <a href=\"https:\/\/www.shortform.com\/blog\/what-makes-a-business-successful\/\">successful businesses<\/a> have optimized processes to service at scale. But at your early stage, premature optimization is a huge waste of time. You don\u2019t need to handle 100,000 customers right now. You literally need to make just 1 customer happy.<\/p>\n\n\n\n<p><strong>With the <a href=\"https:\/\/www.shortform.com\/blog\/concierge-mvp\/\">Concierge MVP<\/a>, you give each early customer the white-glove treatment.<\/strong> You deliver the service personally without worrying about how to scale your time. This lets you figure out whether your solution is anywhere near the right direction, without spending the hard work building <a href=\"https:\/\/www.shortform.com\/blog\/how-to-streamline-a-process\/\">efficient processes<\/a>.<\/p>\n\n\n\n<p>Learn more about the <a href=\"https:\/\/www.allencheng.com\/concierge-mvp\/\">concierge MVP here<\/a>.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"mce_38\">MVP Example #4: The Wizard of Oz MVP<\/h3>\n\n\n\n<p>Many startup ideas revolve around fancy automated services, especially those involving machine learning\/artificial intelligence. Let\u2019s use an example of an AI gift recommender. You, the customer, write a few sentences about what the gift recipient\u2019s personality and interests are. The product returns 3 Amazon links with products the recipient is likely to enjoy.<\/p>\n\n\n\n<p>This is a pretty complicated product to build. Once again, <strong>you don\u2019t want to waste time building the algorithms before figuring out if anyone even wants your service<\/strong>. It might turn out that this concept just doesn\u2019t resonate with people, or that your recommendation strategy is poor.<\/p>\n\n\n\n<p>So how do you test this concept? Once again, you can replace the service with a human. <strong>In a <a href=\"https:\/\/www.shortform.com\/blog\/wizard-of-oz-mvp\/\">Wizard of Oz MVP<\/a>, the user thinks she\u2019s interacting with an automated product, but in reality behind the curtain a human is pulling the levers.<\/strong> <\/p>\n\n\n\n<p>Learn how to build a <a href=\"https:\/\/www.allencheng.com\/wizard-of-oz-mvp\/\">Wizard of Oz MVP here<\/a>.<\/p>\n\n\n\n<p>Want more <a href=\"https:\/\/www.allencheng.com\/subtle-art-of-not-giving-a-fck-summary-pdf-mark-manson\/\">tips on how to build an MVP correctly? Click here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>What is a minimum viable product in Lean Startup terms? What examples are there of how to build one? Learn the 4 critical types of Minimum Viable Product, directly from the book Lean Startup.<\/p>\n","protected":false},"author":2,"featured_media":7873,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[45,79],"tags":[78],"class_list":["post-7917","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-entrepreneurship","tag-lean-startup","","tg-column-two"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.3 (Yoast SEO v24.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Minimum Viable Product: 4 Critical Examples - Shortform Books<\/title>\n<meta name=\"description\" content=\"What are examples of minimum viable products from Lean Startup? 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