It is not that difficult to have a business idea even one that seems like a breakthrough and instant success. The reality bites and 90% of startups fail fast and at the same time cost their founders a small fortune. That’s why the recent development of so called lean startups revolves around learning fast and at small cost to build a product customer need and are willing to pay. Crucial part of this path is a creating a prototype of your product that enables you to test the reaction of your potential customer. This is the MVP – Minimum Viable Product. MVP has to be Viable which means that it delivers some noticeable value to the customer, solves his pain. Minimum means that it cannot be overcomplicated, it has to have the minimal amount of features for you to be able to draw the right conclusion on what works and what does not work. In most cases the choie of MVP stops at the landing page as the Holy Grail of lean startup and testing, the ultimate MVP, but the life is much more complicated and landing page in many cases simply is not enough? How do you test community and whether people will share and comment? How do you want to test physical products that have to be tasted and smelled? On top of that not all MVPs are born equal. Some test one part of your business model whereas others are perfect for testing different question marks that pop-up constantly in your mind. In this presentation we will show you through examples what should be the MVP for your business model, how to pick the right one for your needs and what are the added benefits of MVP. We will also give estimation of the costs and time needed for creation of MVP.

1. 1
MVP – how to test your
business idea without building
the product
Guide for startups an entrepreneurs

2. 2
What is MVP?
The 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 Ries)

3. 3
What is MVP?

4. 4
Characteristics of MVP
Has to be much cheaper than the end-product
You can do it much faster than the end-product
It consists of ONLY the most important features
(from the perspective of customers)
You can easily modify it as you get feedback from
customers
Enables you to test most of the hypothesis
comprising your business model (especially the risky
ones)

5. 5
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6. 6
Case#1
Restaurant

7. 7
You can gamble and open at once the restaurant of your
dreams yet it will be prohibitively expensive and
painstakingly long…….
Cost: 80-1000 K
Lead time: 3-12 months

8. 8
… or you can try the Food Truck as the MVP….
Cost : 10-100 K
Lead time: 1-2 months
 You test the
whole concept
 You can test
many locations
 You can test
menu
 You create brand
awareness and
future demand
 Pricing can also
be tested

9. 9
… the role of Mr. Sandwich who goes from one office to
another and sells sandwiches enables you to test many
aspects as well
Cost : 1-2 K
Lead time: 1 months
 You can test
many locations
 You can test
menu
 You create brand
awareness and
future demand
 Pricing can also
be tested (for
limited range of
products)

10. 10
… another great MVP is catering – especially if your
menu is wider and more diversified
Cost: 2-10 K
Lead time: 1-2 months
 You can test
many locations
 You can test
menu
 You create brand
awareness and
future demand
 Pricing can also
be tested

11. 11
If you dislike the fuss of going around you can have
as MVP dinners at your place – first for friends and
after some time the acquaintances
Cost: 1-4 K
Lead time: 1-2 months
 You can test
menu
 You create brand
awareness and
future demand
 Pricing can also
be tested (with
some small
tricks)

12. 12
…. Or if you want to test also the look and fell of the
restaurant just rent an apartment near the targeted
location and with small changes create mini restaurants
Cost: 5-10 K
Lead time: 1-2 months
 You can test the
whole concept
 Only 1 location can
be tested
 You can test menu
 You create brand
awareness and
future demand
 Pricing can also be
tested

13. 13
….when you wonder what MVP you should choose compare
them in terms of time and money needed and also….
540
55
2 6 3 8
Restaurant Food Truck Mr. Sandwich Catering Diner at your
place
Rented
apartment
Average investment needed
In thousands of USD
8
2
1
2 2 2
Restaurant Food Truck Mr. Sandwich Catering Diner at your
place
Rented
apartment
Average time needed to create Product/MVP
In months

14. 14
….and also have a look what and to what extent you can test
with specific MVP – concentrate on those features which are
the most risky
 Restaurant
 Food Truck
 Mr. Sandwich
 Catering
 Diner at your
place
 Rented apartment
Concept Location Menu Brand awarenessPricing Look and feel

15. 15
Case#2
Webpage earning
from ads

16. 16
Many of you dream of having their own webpage with
thousands of users and earning from ads…..
Cost: 10-300 K
Lead time: 3-12 months

17. 17
….before you jump into full blown coding start with
something very basic as an MVP i.e. file in Google Sheet
Cost: 1 K
Lead time: 1 day
 You can test the
concept (the core of
it)
 You create future
customers
 You test what
information should
be there and what
should be the
interface
 Very good for niche
markets and B2B

18. 18
..or a page based on facebook, pinterest or instagram………
Cost: 1 K
Lead time: 1 day
 You test important part of the
concept
 You create a source of future
traffic
 You test the copy, visual side
of the content and the site,
 You can measure and test
engagement
 If you do it on one platform
repeat it on others
(instagram,pinterest google+,
twitter and others)
 Very good method for
entertainment sites

19. 19
155
1 1
Webpage / Site File on Google Sheet Fanpage on facebooku
Average investment needed
In thousands of USD
8
0 0
Webpage / Site File on Google Sheet Fanpage on facebooku
Average time needed to create Product/MVP
In months
….when you wonder what MVP you should choose compare
them in terms of time and money needed and also….

20. 20
 Webpage / Site
 File on Google
Sheet
 Fanpage on
facebooku
Concept
Methods and
cost of
customer
acquisition
Range of
information /
content
Interface
required by
customers and
engagement
Copy, visual look
of the site
….and also have a look what and to what extent you can test
with specific MVP – concentrate on those features which are
the most risky

21. 21
Case#3
On-line shop

22. 22
Many of you probably are fond of retail and would like
to open their own on-line shop…..
Cost: 10-300 K
Lead time: 3-12 months

23. 23
….we propose to start as an MVP from sales on Amazon /
Ebay / Alibaba / Allegro (PL) or other general marketplaces
Cost: 1 K
Lead time: 1 day
 You can test the product
range you want to sell
 You can test the demand
for your products
 You can see what will be
complementary sales,
cross-selling and in some
case up-selling
 You create source of
traffic for yourself
 The best solution to test
competitive pricing

24. 24
..you can try also number of dedicated to specific category
marketplaces (if it exists)
Cost: 1 K
Lead time: 1 month
 You can test the product
range you want to sell
 You can test the demand for
your products
 You can see what will be
complementary sales, cross-
selling and in some case up-
selling
 You create source of traffic
for yourself
 The best solution to test
competitive pricing
 You can test your brand an
design against other
competitors

25. 25
…worst case scenario is resorting to basic landing page- in
this case you do not have to even build the product 
Cost: 1 K
Lead time: 1 day
 You can test the
interest in your
design and brand
 You gather email list
 You can test initially
pricing level
 You can also test the
copy, visuals, logo
etc.

26. 26
…..or using software which enables you to sell on your
web page without creating real on-line shop (i.e.
GumRoad)
Cost: 1 K
Lead time: 1 day
 You test the demand
level
 You can test pricing
level for items
 You can test some
copy, call-to-actions,
conversion etc.

27. 27
155
1 1 1 1
On-line shop General
marketplace
Dedicated
marketplaces
Landing page GumRoad
Average investment needed
In thousands of USD
8
1 1
0 0
On-line shop General
marketplace
Dedicated
marketplaces
Landing page GumRoad
Average time needed to create Product/MVP
In months
….when you wonder what MVP you should choose compare
them in terms of time and money needed and also….

28. 28
 On-line shop
 General
Marketplace
 Dedicated
marketplace
 Landing page
 GumRoad
Product
Range
Demand
size
Cross-sell, up-sell,
complementary sell Traffic SourcePricing
Brand and
design in
comparison
with
competition
….and also have a look what and to what extent you can test
with specific MVP – concentrate on those features which are
the most risky

29. 29
This presentation is a part of our on-line course on
building startups
Check the course
How to build cheaply and efficiently
your startup?
$95
$20

30. 30
Case#4
SaaS

31. 31
Software as a Service (SaaS) it is a difficult business…
Cost: 10-300 K
Lead time: 3-12 months

32. 32
…the most effective MVP in this case is start with
consulting projects for your target group (SaaS target
group
Cost: 2-10 K
Lead time: 1 month
 While consulting you
create the product
(procedures,
workflow) with the
customer
 You can test the
demand and map the
whole decision making
process
 You test cross-sell and
sell of complimentary
products
 You can test pricing
plans
 You can get first
references

33. 33
… you may as well connect a few SaaS to achieve the
intended result
Costs: 2-10 K
Lead time: 1 months
 You can test
demand
 You can test pricing
 You check what
kind of support is
needed

34. 34
…another great option is to start with a blog devoted to specific topic.
At the beginning to check whether it makes sense to create your own
product you can try and to monetize products of your potential
competitors to check how well the business converts
Costs: 2-10 K
Lead time: 3-12 months
 You can test
demand
 You can test pricing
 You test what
should the product
really do for thee
customers
 You can test the
customer
acquisition
methods

35. 35
…when in really hurry you can try testing some aspects
with immortal landing pages
Cost: 2-10 K
Lead time: 1 month
 You can test
potential demand
 You gather contact
details from
prospective
customers
 You test the cost of
acquiring SaaS
customers
 You can test the
visual look, the copy
and call-to-action
 You can test some of
the functionalities

36. 36
1 005
6 6 6 6
SaaS Consulting Aggregation of 3rd
party SaaS
Blog showing how
to solve problems
using SaaS
Landing page
15
1 1
8
1
SaaS Consulting Aggregation of 3rd
party SaaS
Blog showing how
to solve problems
using SaaS
Landing page
….when you wonder what MVP you should choose compare
them in terms of time and money needed and also….
Average investment needed
In thousands of USD
Average time needed to create Product/MVP
In months

37. 37
 SaaS
 Consulting
 Aggregation of 3rd party
SaaS
 Blog
 Landing page
….and also have a look what and to what extent you can test
with specific MVP – concentrate on those features which are
the most risky
Creating, testing the
product and checking
functionalities
Creating
demand Pricing
Methods and
cost of acquiring
customers
Cross-sell, up-sell,
complementary sell

38. 38
Case#5
Off – line /
physical store

39. 39
Some of you probably are in love with off-line stores
i.e. the tasty chocolate stores
Cost: 100-1 000 K
Lead time: 6-12 months

40. 40
…in this case your MVP can be a on-line store (or the MVP
of on-line store mentioned earlier)
Cost: 2-10 K
Lead time: 1-3 months
 You can test the product and the
range you should have
 You can test the demand
 You can test cross-selling and
selling of complementary goods
 You can test pricing
 You can create brand awareness
– later to be used in the off-line
store

41. 41
….another good example for MVP of the physical store is to rent some
space in shopping mall and put small temporary mini-shop. In this case at
least you will not have to worry about the traffic
Cost: 10-30 K
Lead time: 2-6 months
 You can test the product and the
range you should have
 You can test the demand
 You can test cross-selling and
selling of complementary goods
 You can test pricing
 You can create brand awareness
– later to be used in the off-line
store

42. 42
550
6 20
Off-line store On-line store Mini-shop in the shopping mall
Average investment needed
In thousands of USD
9
2
4
Off-line store On-line store Mini-shop in the shopping mall
Average time needed to create Product/MVP
In months
….when you wonder what MVP you should choose compare
them in terms of time and money needed and also….

43. 43
 Off-line store
 On-line store
 Mini-shop in the
shopping mall
Product
Testing and
creating
demand
Cross-sell, up-sell,
complementary sell Pricing Brand awarenessLocation
….and also have a look what and to what extent you can test
with specific MVP – concentrate on those features which are
the most risky

44. 44
Case#6
Book

45. 45
Writing a book it is not easy task. It takes some time and
resources to be produced
Cost: 10-100 K
Lead time: 6-36 months

46. 46
… that is why you can start by writing articles or novel in
installments as your MVP
Cost: 1-10 K
Lead time: 3-6 months
 You can test the
product (does the
content resonate with
your targeted
audience?)
 Test the demand
 Create your own brand
 Create fans / followers
/ readers

47. 47
…or use more modern method – start a blog as an MVP and a
selling platform at the same time. Good example is Ash Maurya
and the way he wrote his book
Cost: 1-10 K
Lead time: 1-6 months
 You can test the product
(does the content resonate
with your targeted audience?)
 Test the demand
 Create your own brand
 Create fans / followers /
readers
 You can try cross-sell
 You can gather contact details
to your potential customers
(at least early adopters)
 You can test pricing

48. 48
55
6 6
Book Newspaper Blog
Average investment needed
In thousands of USD
21
5 4
Book Newspaper Blog
Average time needed to create Product/MVP
In months
….when you wonder what MVP you should choose compare
them in terms of time and money needed and also….

49. 49
 Book
 Newspaper
 Blog
Product
Creation and
testing of
demand
Cross-sell, up-sell,
complementary sell Pricing Brand awarenessEmail List
….and also have a look what and to what extent you can test
with specific MVP – concentrate on those features which are
the most risky

50. 50
Case#7
Marketplace

51. 51
Marketplace is one of the most difficult on-line business models. That
is why it is worth looking for MVP that will enable you to test fast
whether your idea makes sense
Costs : 1 – 10 M
Lead time: 24-48 months

52. 52
MVP of a marketplace can be a…..smaller marketplace of 1
product
 Lower costs
 You faster reach
the required by
customer depth
 Easier and
cheaper to get
suppliers and end-
customers
 Easier to define
and control the
quality
Costs: 50-400 K
Lead time: 6-24 month

53. 53
A good of MVP for marketplace is a simple on-line store / e-commerce
done from standard solution. Here you can mainly test the end-
customers without the need to get it right with customers
 You can test whether the
niche you want to enter is
of the right size and nature
 You can test the demand
for the product without the
need to build the suppliers
network
 You can create the quality
standards that later you will
impose on others
 You create brand in the
niche
 You can test sales
techniques (to the end-
customers)
 You get first customers
Costs: 10-300 K
Lead time: 3-12 months

54. 54
MVP can be also a physical market, fair, event or sale
 You can check the
reaction of
customers to the
product and how
do they make
their decisions
 You can get first
customers
 You can find there
first suppliers
Costs: 10-200 K
Lead time: 1-6 months

55. 55
Sometimes you can start the marketplace by building a discussion
group, forum or ranking. In this way you will test the demand,
understand the customer and create a strong sales channel
 You check the demand
 You get first customers
Costs: 10-30 K
Lead time: 1-6 months

56. 56
As an MVP to the marketplace you can also use any MVP
shown for on-line store
Sales at other marketplace
(more general)
Landing page Tool that enables you sales from your
webpag i.e Gumroad
Sales at other dedicated
marketplace

57. 57
….or off-line store
Physical off-line store Island in the shopping mall

58. 58
5 500
225 155 105 20
Marketplace Marketplace of 1
product
E-commerce Off-line events /
sale
UGC
36
15
8
4 4
Marketplace Marketplace of 1
product
E-commerce Off-line events /
sale
UGC
Average investment needed
In thousands of USD
Average time needed to create Product/MVP
In months
….when you wonder what MVP you should choose compare
them in terms of time and money needed and also….

59. 59
….and you have to decide what you really want to test
with MVP. We recommend taking care first of the most
risky elements of the business
 Marketplace
 Marketplace of 1
product
 E-commerce
 Off-line events
/sale
 UGC
Product
Creating and
testing demand
Complementary
sales Pricing Brand awarenessMailing bases

60. 60
For more check our on-line course on building startups
Check the course
How to build cheaply and efficiently
your startup?
$95
$20

61. 61
Summary
Surprisingly MVP is neither magic nor very difficult
MVP enables you to test quite a lot, especially the
most risky elements
MVP is drastically cheaper and faster to make than
the end-product
Do not ditch MVP after you get the end-product –
it can come handy for testing new products or
modification
MVP sometimes has additional benefits which not
always your target product or platform has
Make MVP not war 

62. 62
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