Exploring essential MVP approaches #1

What is MVP?

A minimum viable product (MVP) is a version of a product with just enough features to be usable by early customers who can then provide feedback for future product development.

A MVP of bicycle generated by AI.

😎 MVP = Minimum Viable Product

👉🏼 Minimum

• Minimum cost to develop
• Minimum time to develop

👉🏼 Viable

• Desirable for users
• Competitive vs competition
• Align with what you want customer to pay for your product (or business goals)

1. Smoke Test

A Smoke Test MVP is an experiment to see how customers and the market respond to your product idea. It tests your hypothesis about the product's potential success.

Using Facebook ads is a great way to start testing your new product idea, for example a lego set of city police. First, you create a simple webpage explaining what your product does. Then, you use Facebook ads to attract people who might be interested.

A lego idea generated by AI.

On your webpage, you show off your product and ask people to sign up for updates. This helps you see if there's interest in what you're offering.

By doing this, you can figure out if your idea is worth pursuing without spending a lot of money upfront. If lots of people sign up, you know you're onto something good. If not, you can rethink your idea without losing much.

Dropbox used the smoke test to introduce their idea.

2. Concierge

A Concierge MVP is like having someone do the work behind the scenes for your app. Instead of fancy tech doing everything automatically, humans handle it manually. It's a way to give users a great experience without spending a lot of time and money building the tech.

Imagine you're starting a car rental service in your city. You create a website where people can see the cars available and book them online.

A car rental service idea generated by AI.

But instead of using fancy tech, you handle everything manually. When someone books a car, you call a local rental place to get the car. You also sort out where to pick up and drop off the car, handle payments, and help customers with any questions.

This personal touch helps you understand what customers like and don't like. As you learn, you can start automating things like online booking and payments.

Starting this way helps you figure out what works best before growing your business.

Airbnb

AirBnB’s founder created a website to put some rooms for rent. When a customer booked a room, he only handle it manually. This is a zero-cost way to validate his idea.

3. Wizard of Oz

A Wizard of Oz MVP operates like a Concierge MVP, where humans manage the backend tasks. However, the key difference is that users are unaware that human intervention is involved behind the scenes.

Imagine you have a travel assistance idea to help people plan trips. You create a basic website where people answer five questions about their travel preferences and leave their email.

A travel assistance idea generated by AI.

When someone submits their answers, you swing into action manually. You use Google, ChatGPT, and your own travel experience to give them five personalized travel suggestions.

You promise a quick response, aiming to reply within 15 minutes. People eagerly await your email, not knowing it's crafted by hand.

In your email, you share five tailored travel ideas covering everything from plans and places to activities, hotels, flights, and check-in tips.

As you get feedback, you tweak your approach to make the suggestions even better.

Amazon

Bezos who is a founder of Amazon built an online bookstore operated by a magic. He bought books from local offline stores and used post office to delivery his books to customers. Customers didn’t know how their orders processed, they assumed it handled by a modern technology.

4. Functional MVP

A MVP product has necessary functionalities and run by technologies. Functional MVP is a likely fully product with lean features.

For example, the app OhMyPet! tested its market potential by creating an MVP with key features to attract potential customers. OhMyPet is a social network designed for pet enthusiasts, connecting users through shared pet photos, videos, care tips, and offering various pet-related services, foods, hospitals, and expert advice.

In its initial version, OhMyPet! focused on one primary feature: allowing users to share photos of their pets. This basic version helped the app understand if people were interested and confirm its core concept before adding more features.

OhMyPet!, a social network designed for pet enthusiasts.

Summary

1. Smoke Test MVP: This type involves testing your product idea with customers and the market to gauge potential success based on their response.
2. Concierge MVP: Instead of relying on automated technology, a Concierge MVP involves manually handling tasks behind the scenes to provide users with a great experience without extensive investment in technology.
3. Wizard of Oz MVP: Similar to a Concierge MVP, but with the key distinction that users are unaware of the human intervention behind the scenes, giving the impression of a fully automated process.
4. Functional MVP: This MVP type involves a product with essential functionalities that are run by technology, resembling a fully functional product with lean features.

These different MVP types offer varying approaches to testing product ideas and delivering value to users while minimizing resource investment.

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