2. You want to make software that will make you money
Customers want to pay for solutions to their problems
You think you know what customers want
They think they know the best way to do their work
You want to unveil the Titanic
Customers want simple, intuitive solutions
2
3. No business plan survives
first contact with the market”“ Steve Blank, Founder of the Customer Development Methodology
3
4. You want to be a part of the growth trends in the mobile
application market. We want to help you get there. What
you may not realize is that the best plan is, in fact, not a
plan at all; the best plan is a process.
Definitive Guide to Monetizing Your App - Localytics
4
5. 5
//Roadmap
:: What is Lean / MVP?
:: Advantages to Lean / MVP
:: Success Stories
:: Build•Measure•Learn Loop
:: Why MVP?
:: The Quick Left Way
:: Unique Value Proposition
:: The Core Loop
:: Beta Release
:: Return On Investment
:: Your MVP
:: Resources
6
11
15
16
20
23
30
31
35
37
43
49
//Nuts + Bolts //From The Experts
:: The Impetus
:: Lean Entrepreneur Concepts
:: Fire Bullets, Then Cannonballs
:: Reid Hoffman (LinkedIn)
:: The Facebook MVP
:: MVP Definition - Eric Reis
:: No Stealth Mode - Steve Blank
:: ROI Visuals - Lean Entrepreneur
10
12
13
18
19
33
34
38
6. “Lean Methodology” was pioneered as a just-in-time production
solution by Toyota and popularized as a minimize-waste-maximize-value
software development strategy by Eric Reis in “The Lean Startup.”
“Minimum Viable Product” was introduced as a startup methodology
in 2001 by Frank Robinson, inspired by the Nobel Prize winning Sharpe
Ratio (1990), to maximize ROI and minimize risk in innovation.
6
7. TL;DR (Too Long; Didn’t Read) Summary
Delivering MVPs within rapid feedback and iteration cycles inspired by
Lean maximizes your speed to market and minimizes the risk of investing
in features that customers don’t need.
Quick Left focuses on core functionality that will deliver ROI both in
terms of paid customers and valuable feedback. It’s up to you to execute
the process and reap the rewards.
This deck is your cheat sheet.
7
8. // The Quick Left Way :: Business Model Overview
The Lean MVP Business Model Over Time
Since Forever 4 Months 4 Months 4 Months Until Forever
TestFlightPhotoshop App Stores
1 10 100 1000 100k 1MM
EVPMVP v2.0
10k
v1.0
Users
Product
Stage
Platform
Business
Stage
Development
Stage
Mad Scientist
Accelerated
Development
Alpha
Build Measure
Learn Loop
Beta
Private
Accelerated Development
Build Measure Learn Loop
Beta
Public
Market, Monetize
+ Iterate
Public
Launch
Bringing a mobile application from concept to creation to market fit
to monetization is no easy feat! Fortunately, the successes and
failures of many software entrepreneurs before you are well
documented and the tools, processes and business models are more
well-defined and turnkey than ever before.
8
9. Do NOT build a Minimum Viable Product if you:
1 :: are building a “Sustaining Innovation” product
2 :: don’t mind being wasteful
3 :: already have validated product-market fit
Otherwise … read on!
3 Reasons Not to Build an MVP (Cooper + Vlaskovits) 9
10. Lean Entrepreneur video :: http://youtu.be/OFWbnUAzFuE
You really start seeing a pattern in the failures and
it’s usually around people just believing what’s
between their ears rather than validating what’s
real out in the marketplace.”
“
Brant Cooper, Author of “The Lean Entrepreneur”
10
11. 11
// Advantages of MVP + Lean
Decrease Time to MarketEliminate Uncertainty
Work Smart, Not Just Hard Monetize Quickly
By starting with a minimal feature set that
solves a fundamental problem (hypothesis),
you can validate the value proposition
(monetization). Each consequent step in
response to customer feedback eliminates
uncertainty as to whether or not new
features enhance customer engagement.
By investing in pre-validated features rather
than a “shotgun” approach, you are able
to do less development to deliver
something your customers want faster and
spend less money doing it. Moreover, fast
iterations allow you to deliver constant
delight to customers.
By engaging customers from day 1, your
progress is directly connected to the
perceived market value. Further, by building
for “Earlyvangelists” (Steve Blank), you not
only capture ROI immediately but also
catalyze natural tastemakers to recruit the
customer base without a marketing spend.
By developing only the features that solve
validated and significant problems for a
core customer segment rather than
delivering feature-bloated updates, the
time to market is faster and the value
proposition is clearer. Customers will pay
for simple solutions and for the opportunity
to be heard and catered to.
Inspired by “The Lean Startup: Principles” by Eric Reis
12. The Lean Entrepreneur (Cooper + Vlaskovits)
• Cast for the fish that are biting
• Offer a valuable customer experience
• Solve the problem quickly + efficiently
12
13. // From the Experts - Jim Collins
A bullet is an empirical test aimed at learning what works and that meets
three criteria: a bullet must be low cost, low risk and low distraction.
10Xers use bullets to empirically validate what will actually work. Based
on those empirical validations, they then concentrate their resources to
fire a cannonball, enabling large returns from concentrated bets.”
“
Jim Collins and Morten Hensen in “Great By Choice”
Best-selling business author Jim Collins’ most recent work, “Great By Choice”
is the culmination of 7 years of rigorous research following up on his previous
books, “Built To Last” and “Good To Great”, answering the question, “Why
do some companies thrive in uncertainty, even chaos, and others do not?” He
identified companies that delivered 10x over the market for a 30-year period
and, among others, “Fire Bullets, Then Cannonballs” was a common thread.
Fire Bullets, Then Cannonballs
13
14. // From the Experts
Core Characteristics of 10x Business Leaders
Content from “Good To Great” by Jim Collins and Morten Hensen // Image credit: Canny Digital 14
15. 15
// Lean / MVP Success Stories
// Illustrated Example
• Launched with Login, Check-in and Rewards
• Delivered the “Core Loop” of Go Somewhere,
Check-in, Get Rewards (repeat)
• Did not have Share functionality or any social
interactivity (only activity feed)
• Focused on customer feedback and rapid
delivery cycles
• Experienced 3400% user growth in 2010
• Monetized by selling access to its API — big
companies (like Instagram) were relying on the
location database to deliver geo tags to its
users. When they learned this, they pivoted
their business model to focus on their data.
Nearly every application today that looks up a
place is hitting the FourSquare API.
Single-Feature MVP
16. 16
// The Build • Measure • Learn Loop
In an effort to focus investment on validating the most
heroic assumptions while providing value to customers and
prioritizing the roadmap in alignment with market demands,
the Build•Measure•Learn loop is the proven strategy for
creating explosive growth for startups.
Image Credit: Andrew Walpole
17. 17
// How It Works
Image Credit: Andrew Walpole
Build Measure Learn
Develop a product that tests
your biggest assumptions.
For MVP, this is the basic
premise that customers want
your product to alleviate the
most profound pain points.
This is the test of your most
basic value proposition.
Analyze the data to determine
the validity of the value
proposition and the priorities on
the development roadmap.
Choose to persevere (continue to
iterate and test) or pivot (change
fundamental assumptions) as
necessary.
Ask questions of your users
(more qualitative for early
releases, more quantitative
for later releases) that
capture their use, feedback
and wish list. Document
these findings thoroughly.
18. 18
// What is an MVP?
Image Credit: Mati Honorato
If you’re not embarrassed by the first version of
your product, you’ve launched too late”“ Reid Hoffman, Founder of LinkedIn
19. 19
// Case Study :: Facebook
Move fast and break things”
“ Mark Zuckerberg, Founder of Facebook
Motto from 2001-2014
Move fast with stable infra”
“ Mark Zuckerberg, Founder of Facebook
Motto as of March 25, 2014
20. 20
// Why MVP?
Image Credit: Mati Honorato
Building the first car from scratch is hard. Getting customers
excited at the sight of a wheel, or axis, is hard. Knowing if they
want better speakers or heated seats is hard (and requires
assumptions). Importantly, it takes a long time and a lot of money.
21. 21
// Why MVP?
Image Credit: Mati Honorato
Building iteratively mitigates these risks
1.Skateboard // You want to test whether people want an alternative method of going from point A
to Point B. You throw a board on some wheels quickly and cheaply and start selling it. It works!
2.Scooter // You ask riders what they like (faster than walking!) and what they don’t like (too
bumpy!). To solve the bump problem, you put on some handlebars. More customers start buying!
3.Bicycle // Customers tell you they want to go faster and, if possible, sit. You figure out that with
this new design, they can do both! You build it and they buy it. And they tell their friends!
4.Motorcycle // Feedback surveys say that bikes are great, but customers can’t go as far as they
want powered by their own legs. You add a motor. Customer satisfaction and sales increase!
5.Car // Your customers are so happy going to far-away places faster and more comfortably than
walking that they want to bring their friends. You build a car based on your experience and it sells!
22. 22
// Why MVP?
Image Credit: Mati Honorato
If you’d started with a car, it might go 10mph to a max of 10 miles
with no chassis or shocks. Build data-driven products through
customer feedback to ensure you’re building the right thing at the
right time. Build an enthusiastic customer base by validating their
feedback and delivering what they want when they want it. This is
the magic of Lean + MVP innovation.
23. Identify the problem
Create a vision based on
assumptions
Identify the most heroic
assumption that delivers
the Unique Value Proposition
Design an MVP to test
that assumption in the
quickest way without
sacrificing quality or scalability
(The Core Loop)
Build the MVP with the goal of
delivering the simplest
software that tests the
assumption while
maintaining the MVP
Run the Build•Measure•Learn
loop as quickly and
frequently as possible
though TestFlight
Continue to deliver value
until you have 1,000 users
in TestFlight
(Private Beta)
Leverage the active customers
and validated roadmap into
investment raise
Build the roadmap into the
Exceptional Viable Product (EVP)
and release to the market
through app stores
(Public Beta)
Launch v1.0
Grow users exponentially
Monetize!
Refactor for v2.0 to expand
into new markets
and revenue streams.
23
// The Quick Left Way :: MVP Applications
Repeat the
Build•Measure•Learn loop.
Create excitement for v1.0
24. “Add
this and
I’ll pay…
”
“Keep
working
at it..”
24
// The Quick Left Way :: MVP Development Timeline
UsersPerceivedVelocityofValueAddition
“Put m
e
on
the
m
ailing
list”
“W
here
do
I
download?”
“How do I give you $$”
“I don’t care”
UX/UI
Alpha
Private
Beta
4 Months 4 Months 4 Months
MVP
V1.0
Idea
Public
Beta
Public
Launch
EVP
25. 25
// The Quick Left Way :: MVP Development Timeline
You may notice that the delta from MVP to v1.0 is small in
terms of perceived velocity, but it represents a huge amount
of work to gain enough learning to understand what features
will deliver enough value to monetize a large customer base.
Do not underestimate the “EVP Valley of Uncertainty.”
EVP Valley of
Uncertainty
26. Founder “I have a dream”
“It’s finally happening”
“Stick to the process”
“Let me show my friends”
“This feedback is gold”
“They’re going to love what’s next”
“Investors should see the value”
“I know what’s next!”
“Now we’re cooking with gas!”
“It’s real! We’re a team!”
“No one can catch me now!”
“On the road to sustainability”
Inner Circle
“Cool Idea!”
“You should build it”
“Looks cool, I’ll totally use it”
“I’m using this, but…”
“It feels like you’re building
this just for me!”
“Add these things and it’ll be
worth paying for”
“Eh, it was cooler when they were
small”
Early-
Vangelists
“I’d love to give it a try”
“You should think about X, steal Y
from Z and simplify W.”
“This is great, I’m telling my friends!”
“I love watching the progress”
“These are exciting times!”
“I can’t live without this app”
“Ooh, look, a new app!”
Professional
Investors
“Neat idea - go do it”
“Show me what you’ve got”
“Prove your product-market fit”
“Its got a chance at a viable business
model.”
“I want in! Let’s see if it works.”
“Find a liquidation event”
UX/UI
Alpha
Private
Beta
4 Months 4 Months 4 MonthsIdea
Public
Beta
Full
Launch
EVP
26
// The Quick Left Way :: MVP Development Timeline (Sentiment)
Forever—>
27. Consultants
Build the MVP
($240,000)
Build v1.0
($240,000)
Technical Co-Founder OR
Mid-Level Dev
$120,000/yr ($40,000/4mo)
or
$90,000 ($30,000/4mo)
$120,000/yr ($40,000/4mo)
or
$90,000 ($30,000/4mo)
$120,000/yr ($40,000/4mo)
or
$90,000 ($30,000/4mo)
Product Manager $60,000/yr ($20,000/4mo) $60,000/yr ($20,000/4mo) $60,000/yr ($20,000/4mo)
Marketing $90,000/yr ($30,000/4mo) $90,000/yr ($30,000/4mo)
UX/UI Design $60,000/yr ($20,000/4mo) $60,000/yr ($20,000/4mo)
[P&L] ($240,000)/4mo ($50-60,000)/4mo ($340-350,000)/4mo
($100-110,000)/4mo
+ REVENUE
UX/UI
Alpha
Private
Beta
4 Months 4 Months 4 MonthsIdea
Public
Beta
Full
Launch
EVP
27
// The Quick Left Way :: MVP Development Timeline (Billables)
Forever—>
28. “Enough
to
test
The
assum
ption”
28
// The Quick Left Way :: MVP Development Timeline (Features)
ActualFeaturesThatUserscanUse
“Enough
to
get
a
Seed
Round”
“Enough to leverage/entice
users to pay”
0
4 Months 4 Months 4 Months
MVP
V1.0
Idea
EVP
EVP Valley of
Uncertainty*
*Notice that the actual amount of features added to get to EVP from MVP is small, but
the real work lies in testing your primary assumption and app maintenance/tweaking
Assumptions Only
29. 10
29
// The Quick Left Way :: MVP Development Timeline (User Growth)
ProjectedUserAdoption
0
4 Months 4 Months 4 Months
MVP
V1.0
Idea
EVP
Assumptions Only;
Poop in a Box
1,000
10,000
100
30. 30
You’ve identified a gap in the market that causes pain for a
group of people and you’ve got a vision for how to solve it.
Behind all the grandeur and dreams of “someday” is the Unique
Value Proposition (UVP) that starts it all — what is yours?
The Unique Value Proposition
High-Concept Pitch The XYZ
Analogies are time-tested and audience-
approved vehicles for delivering a
message. Explain your UVP like this:
[Proven Example] for/of [Your Domain]
Flickr for video (YouTube)
A network for networks (Cisco)
Inspired by “Made To Stick” (Chip + Dan Heath) and Venture Hacks
This rigid format forces you to articulate
your audience, function and solution in a
brief and positive pitch. Explain it like this:
We help X do Y by Z.
Quick Left helps entrepreneurs develop
great software by implementing
Adaptable Agile.
Inspired by Steve Blank’s “Lean Launchpad”
// The Quick Left Way :: Unique Value Proposition
31. 31
Understanding what to build for the MVP is driven by identifying
the Core Loop that tests the fundamental value proposition.
Consequent releases include features that test the riskiest
assumption that is key to the continued success the application.
Don’t let the Minimum win over the Viable”
“ David Aycan, Design Director at IDEO
The Core Loop
Do This
Do This NextThen Do This
// The Quick Left Way :: The Core Loop
Inspired by Mariya Yao’s “Rapid Iteration”
32. 32
Don’t let the Minimum win over the Viable”
“ David Aycan, Design Director at IDEO
The Core Loop :: Examples
Take Photo
Add FilterShare Socially
Instagram
Go Somewhere
Check InGet Reward
FourSquare
Fill SpaceBuy Space
DropBox
Read Reviews
Buy ProductLeave Reviews
Amazon
Inspired by Mariya Yao’s “Rapid Iteration”
// The Quick Left Way :: The Core Loop
33. 33
A Minimum Viable Product 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.”
“
Eric Reis, Author of “The Lean Startup”
Build the MVP
// From the Experts - Definition of “MVP”
34. 34
Lean methods are changing the language start-ups use to
describe their work. During the dot-com boom, start-ups
often operated in “stealth mode” (to avoid alerting
potential competitors to a market opportunity), exposing
prototypes to customers only during highly orchestrated
“beta” tests. The lean start-up methodology makes those
concepts obsolete because it holds that in most industries
customer feedback matters more than secrecy and that
constant feedback yields better results than cadenced
unveilings.”
“
Steve Blank, Harvard Business Review
No Stealth Mode
// From the Experts - Steve Blank
35. 35
Use TestFlight First
Engage your first 1000
customers using TestFlight to
minimize market exposure
while accelerating the
Build•Measure•Learn loop.
Utilize the “Earlyvangelists” to
understand users’:
• motivation for using
• expected behavior of app
• prioritize the roadmapcredit: Rand Fishkin
TestFlight
App Store
Inspired by Rand Fishkin, Co-Founder of Moz and inbound.org
// The Quick Left Way :: Beta Release
36. 36
Then EVP to App Store
With 1000 engaged users and
a mountain of validated
feedback in the form of a
prioritized roadmap, you have
leverage. From this position,
you can pitch investment for
the EVP (minimizing risk and
equity) or build the EVP
yourself and go to market
(maximizing risk and equity).
credit: Rand Fishkin
TestFlight
App Store
The “Exceptional Viable Product” contains a vetted feature-set and benefits from the organic buzz of
an existing customer base. This represents the minimum investment that mitigates the most risk with
the most potential for “hockey stick” growth.
Inspired by Rand Fishkin, Co-Founder of Moz and inbound.org
// The Quick Left Way :: MVP Applications
37. 37
Make no mistake about the journey you are on — MVPs are (typically) not intended
for monetization. The return on investment from your MVP is data, insight and the
ability to recruit and retain Earlyvangelists who will drive your app to the market.
Validated feedback will inform iterative versioning through Alpha and Private Beta
phases and will be your leverage with investors. This cycle continues through the
public beta phase ramping up to the v1.0 release, at which point you will be ready to
monetize your application. App monetization typically involves a combination of a
Value Proposition and a Lever. Myriad case studies are at your fingertips, but which
to choose will be little more than a hunch until your EVP is in flight and you’ve got a
mountain of feedback from 1000 active users.
MVP ROI
Value Proposition Levers
What type of transaction are you offering
your customers? Who are your customers?
The Value Proposition is the structure(s) of
the application that attract your customers
and keep them participating over time.
How do you generate revenue within the
Value Proposition? Is the app-user
experience the primary revenue generator?
The Levers are the mechanisms by which
revenue is generated from the app.
// The Quick Left Way :: Return On Investment
38. 38
// The Quick Left Way :: Return On Investment
You invested wisely.
Rather than building all of the
things, you built the Core Loop
and you are ready to get a return
on your investment.
You are committed to collecting
user feedback and delivering
iterative improvements to meet their
needs. The insight is a valuable
return on investment and you’re
thinking about monetization.
Images from “The Lean Entrepreneur”, Cooper & Vlaskovits
39. 39
// The Quick Left Way :: ROI Strategies
Exclusivity
Business Intelligence
Raw Data
Competitive Advantage
Network Marketing
Gamification
White Labeling
Risk Mitigation
Access to Quality
Access to Demographic
Credibility
Value Proposition
Freemium
(Gated Features)
Pay-to-Play
(One-time Fee / Subscription)
A La Carte
(Paywalls by Feature/Volume)
Third Party
(Advertisement / Sponsorship)
Transactional
Retail
Levers
40. 40
// The Quick Left Way :: ROI Strategies
Exclusivity
Business Intelligence
Raw Data
Competitive Advantage
Network Marketing
Gamification
White Labeling
Risk Mitigation
Access to Quality
Access to Demographic
Credibility
Value Proposition
Like New York nightclubs, access is granted “by invitation only” or after completing
specified objectives. The buzz is “anyone who’s anyone is on there.”
Raw data can be difficult to understand. Your app collects data and delivers to the user
intelligence derived from that data. Make your users smarter.
As Ferris Bueller said, “Life moves pretty fast. If you don’t stop and look around once in
a while, you might miss it.” Capture data that otherwise would go undocumented.
Your app makes your users better than their competition. It makes them faster,
stronger, better informed or otherwise gives them an edge over non-app users.
Users benefit from recruiting other users and so forth and so on. The functionality of
the application is less important than the power of the community it attracts.
Participation in the app earns status, points, badges, rewards, credits or other such
currency either for its own sake, for competition with other users or for spending.
The app does a thing that third parties want to put their brand on and resell to their
customers so they license your application from you and make it look like them.
The “insurance” model by which use of the application protects users from some
inherent risk in their business. Functionality is less important than participation.
Your app curates content, services, goods and/or people such that it provides easy
access to a certain quality that users require.
Your app organizes people, services or companies by valuable demographic
characteristics that users require.
Also known as the “Oracle” or “IBM” affect, users tell their bosses or their clients
that they use your product in order to boost their own credibility and standing.
41. 41
// The Quick Left Way :: ROI Strategies
Freemium
(Gated Features)
Pay-to-Play
(One-time Fee / Subscription)
A La Carte
(Paywalls by Feature/Volume)
Third Party
(Advertisement / Sponsorship)
Transactional
Retail
Levers
Users can download the app and access a limited feature-set without
charge (sometimes this is preceded by a full-featured free trial) and then
pay to access more features or remove advertising.
Users pay to download the app as a one-time fee or they pay a recurring
monthly fee (as an in-app purchase or by having logins authenticated
against an external payment system). This could also include tiered pricing
for tiered feature or volume access as one-time or subscription fees.
Features and volume are available a la carte rather than by packages or
tiers. Payments are made as in-app purchases.
Users are granted free access to the full feature-set of the app and are
subjected to advertisements. An adjacent strategy to ads is sponsorship,
either for memberships, feature-sets or particular content.
Users have the ability to execute transactions within the app, for which they
pay a fee (flat or as a percentage). This could be buying/selling goods,
sending/receiving funds or even ratings, recommendations or promotions.
Sellers pay flat or tiered fees for the ability to sell goods and/or content to
customers. Additionally, buyers may pay for access to the marketplace (ie -
flash sales) as a one-time fee, subscription or per purchase fee.
42. 42
// The Quick Left Way :: ROI Strategies - Examples
Value Proposition Levers
Competitive
Advantage
Raw Data
Gamification
Access To
Quality
Pay-to-Play
A-La-Carte
Third Party
Transactional
43. // The Quick Left Way :: Worksheet
[A statement about your credibility, passion, interest or vision], you
have recognized a [describe the gap in the market you are pursuing]
just waiting a software solution. Your vision addresses problems for
stakeholders at [which part(s)] stage in the value chain. The key users in
your vision, the ones that attract all the others, are [identify your target
personas] and their most expensive problem is [describe the problem
in a sentence or two].
Market Gap
[X for Y by Z statement]. The MVP Value Proposition is [the value
proposition(s) from page 40].Value
Proposition
[App Name] assumes that [target users] will use a [mobile/web]
application to [action statement that infers a solved problem].
Riskiest
Assumption
43
44. // The Quick Left Way :: Worksheet
The Core Loop
The fundamental Core Loop that allows [MVP Name] to test the assumption that [describe
assumption] is the [describe Core Loop] functionality. In order to make that loop easy to use,
[MVP Name] encourages [user personas] to [conduct the actions in the Core Loop].
The assumption is validated when a representative group of users has [moved through the
Core Loop] [qualified by a metric like frequency, volume, success rate, etc.].
The MVP delivers a return on the investment when it validates the assumption and produces
real customer feedback that informs the prioritization of the feature development roadmap.
Then Do ThisDo This
MVP Name
With This
Ancillary BenefitYou Might Need This
44
45. // The Quick Left Way :: Worksheet
The Minimum Viable Product (MVP)
45
Description of mockup,
screen grab or step of
envisioned user flow.
Multiple pages if
necessary.
Description of mockup,
screen grab or step of
envisioned user flow.
Description of mockup,
screen grab or step of
envisioned user flow.
46. 46
The Build • Measure • Learn Loop
In the private beta, public beta and even into v1.0 and beyond, you
will repeat this loop as quickly as possible. You’ll ask questions,
document responses, codify learnings, decide whether to Pivot or
Persist, deliver iterative development and continue to grow. You will
do this with your first 10-100 users manually and begin to automate
as you grow to 1000, 10k, 100k and 1MM users.
credit: Andrew Walpole
// The Quick Left Way :: Worksheet
47. 47
Build
Measure Learn
• Core Loop Action 1
• Core Loop Action 2
• Core Loop Action 3
• Sub-Actions
• Sub-Actions
• Core Loop Action 4
- - - - - - - - - - - - - - - - - - - - -
The next list depends upon
what is learned through user
feedback cycles.
• What do we objectively know
(qualitatively and quantitatively)?
• In what context(s) are those important?
(monetize, features, experience/design,
virality, stickiness, etc.)
• Should we Pivot or Persevere?
• How to MVP our learnings?
• Groom the roadmap (video, photos,
annotations, profiles, geolocation,
driving directions, reviews/
endorsements, payment processing,
punch lists, etc.)
• How many times per week do you
think to use the app?
• How many times per week do you
actually use it?
• How many actions per month could
you do?
• Do you intuitively know what to do in/
with the app?
• Do you know what the buttons do?
• Do you know what the terms mean?
• Can you perform the Core Loop and is
that meaningful to you?
• “It would be a mission critical app if…”
• “It would be awesome if … “
• What else do you want to know about
a content/action to make the decision
easier?
• What else do you want to know about?
• Will you come back to the application?
• How much is this worth to you? What
levers help make this argument
(qualitative + quantitative)?
// The Quick Left Way :: Worksheet
48. // The Quick Left Way :: Worksheet
With months of validated user feedback and myriad times around the
Build•Measure•Learn loop including iterative updates to the app, you
will know what belongs in your EVP (your Unique Value Proposition (UVP).
At this stage, you’re also nearing 1000 active users on TestFlight and
you’re leveraging that traction to investors who can help you get to a
broad v1.0 release including full-time developers, an expanding C-suite,
a marketing engine and a monetization strategy.
This is when you bring your EVP to the app store and begin public beta.
What features are in your EVP? You won’t know until you get here.
Exceptional
Viable
Product
By now you will have a validated assertion that one or a combination of
Value Propositions have traction in the market and you will know how
that uniquely applies to the market you are serving. Which one or ones
will it be? You won’t know until the market has told you.
Unique
Value
Proposition
Similarly, your user testing should provide insight into how you can
monetize your UVP. Will users put up with advertisements? Will
advertisements be interested in your user base? Will users pay monthly
fees? Is one persona more than the other susceptible to transactional
fees? Can you sell your user data in the open market? You won’t know
until you get here.
Levers
48
49. // Required Reading + Watching
//Watching
Eric Reis // The MVP of Lean Startup :: https://www.youtube.com/watch?v=E4ex0fejo8w
Steve Blank // The Startup Owner’s Manual :: https://www.youtube.com/watch?v=H2OkLcOCjEs
Sean Murphy // Is Your MVP the Death Star? :: https://vimeo.com/70255521
LucideaStudio // Jim Collins’ Fire Bullets, then Fire Cannonballs :: https://www.youtube.com/watch?v=uqP_-l4o4m8
//Reading - Web
Mariya Yao // Rapid Iteration for Mobile App Design :: http://goo.gl/l6tYPF
Steve Blank // Why the Lean Startup Changes Everything :: http://goo.gl/0y85wI
//Reading - Books
Eric Reis // The Lean Startup :: http://goo.gl/yaOvuF
Alistair Croll & Benjamin Yoskovitz // Lean Analytics :: http://goo.gl/SVPEUx
Brant Cooper & Patrick Vlaskovits // The Lean Entrepreneur :: http://goo.gl/3VvJPW
Alexander Osterwälder & Yves Pigneur // Business Model Generation :: http://goo.gl/TB03hf
Steve Blank // The Four Steps to the Epiphany :: http://goo.gl/Z3YWmM
49
50. // Recommended Resources
//Watching
The Four Steps to the Epiphany Presentation at Startup Grind
New York (Steve Blank)
:: https://www.youtube.com/watch?v=pXIZIasCp6I
Lean Entrepreneur Trailer Video
:: http://youtu.be/OFWbnUAzFuE
//Reading - Web
Build•Measure•Learn Infographic (Andrew Walpole)
:: http://blog.andrewwalpole.com/2013/08/30/build-measure-
learn-feedback-loop-infographic/
Stop Overthinking…Just Stop (Mati Honorato)
:: http://www.mhonorato.com/stop-overthinking/
The Lean Launchpad (Steve Blank)
:: http://steveblank.com/2011/09/22/how-to-build-a-web-
startup-lean-launchpad-edition/
7 Unlikely Recommendations (Rand Fishkin)
:: http://moz.com/rand/7-unlikely-recommendations-for-startups-
entrepreneurs/
3 Reasons NOT to Build an MVP (Brant Cooper and Patrick
Vlaskovits)
:: http://pando.com/2013/02/04/three-reasons-not-to-build-a-
minimum-viable-product/
App Monetization (Annum Munir)
:: http://info.localytics.com/blog/app-monetization-6-bankable-
business-models-that-help-mobile-apps-make-money
Practice Trumps Theory Blog (Ash Maurya)
:: http://practicetrumpstheory.com/
Venture Hacks: Pitching
:: http://venturehacks.com/friends
Practice Trumps Theory Blog (Ash Maurya)
:: http://practicetrumpstheory.com/
SK Murphy Lean + Customer Development Blog (Sean Murphy)
:: http://www.skmurphy.com/
Localytics :: App Infographic
:: http://www.localytics.com/infographics/evolution-of-the-
almighty-app/
Canny Digital’s summary of “Good To Great” (Collins, Hensen) ::
http://www.slideshare.net/CannyDigital/great-by-choice-jim-
collins
//Resources
The Lean Canvas :: http://leanstack.com/
User Acquisition :: Launch Rock :: http://launchrock.co/
//Reading - Books
Jim Collins // Great By Choice :: http://goo.gl/YvQaYF
Chip & Dan Heath // Made To Stick :: http://goo.gl/yTmBUr
Tom Kelley // The Art of Innovation :: http://goo.gl/OCkjzN
50
52. 52
We are passionate
individuals focused on
crafting impactful
solutions to our clients
most complex problems.
CEO - Consulting | Ingrid Alongi
“
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53. 53
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