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1 DAY MVP

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Section 1
Introduction - Getting Lean

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Lecture 1
Course Overview

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Course overview

 Section 1: Introduction - Getting Lean

 Section 2: Getting even leaner (optional)

 Section 3: Setting up your experiment

 Section 4: Identifying your target market

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Course overview

 Section 5: Competitive analysis

 Section 6: Lean customer development

 Section 7: Creating your pitch experiment

 Section 8: Pitching to soft targets

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Course overview

 Section 9: Upgrading your pitch experiment

 Section 10: Testing your idea against paid traffic

 Section 11: Building a functional MVP

 Section 12: Docs to Go follow along

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Lecture 3
Lean in 5 minutes

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Lean in 5 minutes

 Eric Ries - “The lean startup”

 The idea of the book: How startups can think about


the future and their ideas in a way that can mitigate
risk and accommodate “absolute uncertainty”

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Lean in 5 minutes

 The market is uncertain

 You don't know anything about your idea


until you start testing it

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Lean in 5 minutes

 “When we’re in the shower, when we’re thinking


about our idea - boy, does it sound brilliant. But the
reality is that most of our ideas are actually terrible.”

Eric Ries

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Lean in 5 minutes

 You can learn more about your idea


through validated learning

 Validated learning = learning from an experiment

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Lean in 5 minutes

 The 1, 2, 3 of Lean

1 - Your idea is terrible


2 - To fix this, you need validated learning
3 - To get validated learning, you need to run
an MVP test

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Lean in 5 minutes

 MVP experiments:

“The MVP is that version of a new product which


allows a team to collect the maximum amount of
validated learning about customers with the least
effort” - Lean Startup

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Lean in 5 minutes

 Spend the minimum amount of time and resources

 2 outcomes - win / fail

 The goal is to get to the outcome faster


 If it fails, it's best to fail as soon as you can

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Lean in 5 minutes

 Lean startup framework:


Stop building things people don't want!

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Lecture 4
The lean mindset

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The lean mindset

 Understand why we do things in a certain way

 The basic idea of lean mindset:


You don't know anything until you test

 Throw away all your preconceptions

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The lean mindset

 Test your idea by pretending it's already real


 People will have real reactions to your idea

 All scientific experiments have: Hypothesis,


Assumptions, Parameters, Conclusions

 Validation = the scientific method

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Lecture 5
What is an MVP?

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What is an MVP?

 Prototype ≠ MVP

 MVP = Minimum Viable Product

 My grand vision does x, y, z


- remove x
- remove y
- simulate z  MVP

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What is an MVP?

 Save time and validate the core value of


your product

 Remove all the unnecessary features

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Lecture 6
Climbing the MVP mountain

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Climbing the MVP mountain

 MVP is a process, it's a cycle that


You repeat every time you fail

 The MVP mountain:


- You have an idea
- You have to pass several checkpoints to validation

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Climbing the MVP mountain
MVP
1. Sniff test
2. Competitive analysis
3. Customer interviews
4. Basic pitch experiment
5. Complex pitch experiment
6. Building an MVP

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Climbing the MVP mountain

 "The #1 reason why new products fail is not a failure


to build what we set out to build, but the failure to find
the right customers and markets for our products"

 If you fail, you can pivot and start again

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Lecture 7
Introduction to Section 1 activity
How would you MVP?

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Intro to Section 2 activity

 I'm going to describe an idea for a business

 You have to pick the best MVP option


for validating it

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