![]() ![]() Could be a video describing product (Dropbox example). ![]() Signup page for "wait list" but no product. 4 Questions for Product Development 1) Do customers recognize they have the problem you are trying to solve?Ģ) If there was a solution, would they buy it?Ĥ) Can we build a solution for that problem? Smoke Test MVP Type of Minimum Viable Product. One-on-one product or service you can offer to first customers (often delivered by entrepreneur personally) to get real-time feedback on experiments before scaling. Concierge MVP Type of Minimum Viable Product. Early Adopters Customers who feel the need for the product most acutely, tend to forgive mistakes and eager to give feedback. Growth Hypothesis Tests how new customers will discover a product or service. hypothetical 2) Interaction with real customers to learn about needs 3) Allows you to be surprised when customer acts unexpectedly Value Hypothesis Tests whether product or service really delivers value to customers once they use it. Taiichi Ohno and Shigeo Shingo Developed Lean Manufacturing revolution at Toyota Scientific Method Lesson If you cannot fail, you cannot learn 3 Advantages of Validation 1) More accurate data about customer demand (real customer behavior vs. All successful startup processes exist to accelerate feedback. The fundamental activity of startups is to 1) turn ideas into products, 2) measure customer response, 3) then pivot or persevere. ![]() Build-Measure-Learn 4th principle of Lean Startups. ![]()
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