As a participant at Twin Cities Startup Weekend Youth Edition, you and your team will be expected to create a minimal viable product (MVP) prototype to demonstrate to the judges on Friday night.
You might be thinking to yourself “WTF is a MVP?!”
Eric Reis, author of The Lean Startup defines an MVP as:
“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.”
Ash Maura, author of Running Lean, has a slightly more strict take:
“A Minimum Viable Product is the smallest thing you can build that delivers customer value (and as a bonus captures some of that value back).”
The dialogue and discussion about MVPs is large, but several factors remain consistent:
1. Maximize learning.
2. Create value for your customer (or learn why value is not created).
3. Minimize time and resources devoted to get there.
The image below is a good articulate the process of developing an MVP.
In the lower half of the diagram, value was created immediately (if only a very small amount of value), but was not maximized. Over time and multiple versions of the product, learning was achieved, and the product evolved.
We look forward to seeing you create MVP prototypes next week at Twin Cities Startup Weekend Youth! Below are some resources to help you create an MVP over the course of the event.
WHAT IS AN MVP?
CLICKABLE PROTOTYPE TOOLS:
Apple Keynote: http://keynotopia.com/guides
Microsoft Powerpoint: http://keynotopia.com/guides-ppt
High Quality iPhone Mock-Ups: http://www.swiftbootstrap.com/?ref=producthunt
WEBSITE CREATION TOOLS:
A LIST OF LISTS OF RESOURCES: