Validate your business idea with MVP-Minimum Viable Product
4.4 (46 ratings)
Course Ratings are calculated from individual students’ ratings and a variety of other signals, like age of rating and reliability, to ensure that they reflect course quality fairly and accurately.
1,278 students enrolled

Validate your business idea with MVP-Minimum Viable Product

Learn what MVP you should choose your business idea and check whether it makes sense
4.4 (46 ratings)
Course Ratings are calculated from individual students’ ratings and a variety of other signals, like age of rating and reliability, to ensure that they reflect course quality fairly and accurately.
1,278 students enrolled
Created by Asen Gyczew
Last updated 3/2020
English
English [Auto]
Current price: $64.99 Original price: $99.99 Discount: 35% off
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This course includes
  • 2 hours on-demand video
  • 1 article
  • 5 downloadable resources
  • Full lifetime access
  • Access on mobile and TV
  • Certificate of Completion
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What you'll learn
  • Undrestand the concept of MVP and how to use it in pracice
  • Pick the rigth MVP to test the most riskiest part of your business model
  • Estimate the costs of MVP and time needed to create it
Requirements
  • Basic business knowledge
Description

Course summary

It is not that difficult to have a business idea even one that seems like a breakthrough and instant success. The reality bites and most 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.

Most courses stop 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 course 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.

If you have not found an ideal suggestion for MVP for your business please post in the Group Discussion your business model description and we will prepare suggestion for you on the MVP you should use.

Why we decided to create this course?

We work with startups on daily basis within our accelerator (StartupAkademia) and we have noticed that despite the tones of very good books on lean methods (i.e. Lean Analytics, Running Lean etc.) startups have problems with applying this knowledge in practice. The interesting thing was that those problems were pretty universal regardless of the industry, business model or even whether they were ran independently or supported by big corporations.

What will this course give you?

The course is a practical overview of possible MVP for the following types of businesses: B2C services especially restaurants, on-line shop, off-line shop, webpage earning from display ads, SaaS, books. Our intention is that thanks to the course you will know:

  • What are the different types of MVPs you can use?
  • What are the pros and cons of a specific MVP?
  • How much does it cost and how long does it take to create a specific MVP?
  • When you should use one type of MVP and when entirely different one?

How the course is organized?

The course is divided currently in 3 section:

  • Introduction. We explain what MVP is and why it makes sense to use it
  • MVP examples. Here we go in-depth over MVPs for different businesses: restaurants, on-line shop, off-line shop, webpage earning from display ads, SaaS, books and show you how and when they should be used. If you have not found an ideal suggestion for MVP for your business please post in the Group Discussion your business model description and we will prepare suggestion for you on the MVP you should use.
  • Resources. In this section we put any additional resource for them to be visible

You will be able also to download many additional resources

  • Links to free presentations and movies showing examples
  • Links to books worth reading
  • Presentation
Who this course is for:
  • Startup founders
  • Startup employees
  • Small and medium business owners
  • Project managers
Course content
Expand all 26 lectures 02:39:52
+ Introduction
4 lectures 09:32

Here I show what you will get from the course and for whom this course is

Preview 03:23

Here I will show you what to do if a blurry image appears

How to deal with Blurry image
02:04

Here I will show you how to find additional resources attached to the coruse like Excel files, presentations, links etc.

How to reach additional resources
01:05
+ Examples of MVPs for different
7 lectures 34:29

We start with showing you how you can test the restaurant concept. We provide you 6 different MVPs, show you how much it would cost to build and how much time it would take you. We show you also what hypotheses / features you can test with them and when to choose which MVP

Preview 08:00

We present you what kind of MVP you can use to test webpages earning from ads

MVP for webpage earning from ads
05:38

We go to on-line shop and show you how you can test whether you will be a successful on-line retailer. The MVPs we present can be done with very small budget

MVP for on-line shop
06:28

Having discuss the on-line shops we check what can be done to test the off-line shops

MVP for off-line shop
03:59

If you are into SaaS you will learn he what MVPs are at your disposals and what do they give you

MVP for SaaS
03:47

We give you some tips how to prepare to write a good book and earn money at the same time

Preview 03:48

Here we will talk about what you should do once you have picked the MVP you want to test

Next steps in validating your business model
02:49
+ E-commerce business model
6 lectures 30:06

In this      section you will get insight t into the business model of different      e-commerce companies. E-commerce businesses group is very diversified so      we will try to show the similarities and the differences between      concepts.. You will learn here the definition of this business model, see      some examples of companies using this business models. You will also understand      what really matters in this sort of business, what KPIs you should look at      and what values you can expect. Afterwards, I will show you how you can      build the model in Excel and what conclusions can you draw from it.

Introduction to e-commerce
03:28

In this lecture I will show you examples of firms that work in this specific business model. 

Examples of e-commerce businesses
01:53

In this lecture I will show you how the potential customer flow through your business  / sites. 

Logic flow of customers in e-commerce
01:09

In this lecture I will discuss the KPIs that you should concentrate on in this business 

Main KPIs for e-commerce
09:36

It is time to discuss the main challenges in this business 

Main challenges in e-commerce
04:50

In this lecture I will show you how you can build the model in Excel and what conclusions can you draw from it.

E-commerce financial model - basic version
09:10
+ B2C Services Business Model
7 lectures 34:58

We can be talking about 3 different models in B2C services

  • Services performed at specialized place no production involved

  • Services performed at specialized place with some production

  • Services performed at customer place

I will discuss the differences between them in this lecture

Introduction to the B2C Services Business Model
01:17

I will shortly go through things that matter in the case of B2C Services performed at specialized place no production involved such as hairdressers, beauty salons and other

Things that matter in hairderssers, beauty salons etc.
05:30

I will shortly go through things that are important in other B2C Services such as restaurant chains, services performed at the customer place etc.

Things that matter in other B2C Services Business Model
01:57

In the next lecture I will show you the main drivers of the B2C model and on the basis of this we will create a business model in Excel. I will concentrate on the example of restaurant chain

Introduction to modeling B2C Services in Excel
01:00

Excel gives you great opportunities to calculate whether your idea makes sense or not. For this you will use the knowledge you have gathered in the previous lectures on your concept, location and your customers. Excel is obviously less emotion than you and the model you will create here can be used as a cornerstone of your business plans. It shows also to banks and potential investors what is your cash flow. We start with a simple model so you can understand it and learn how to use it. 

Business model of a restaurant in Excel - basic model
09:11

In this lecture we make more advanced model. We introduce the traffic parameter and show how it is converted first into people that are engaged (stop and enter your restaurant) and later into customers (they buy something from you). Here we will be operating on 2 customer groups: first one eats at the restaurant; second one comes for take-aways. For both customer groups we calculate separate conversion rates and Average ticket (ATV). We still here show you a business model for a 1 restaurant

Business model of a restaurant in Excel - advanced model
08:58

Finally we show you how to model in Excel a restaurant chain.

Restaurant chain - how to model it in Excel?
07:05
+ Additional Resources
1 lecture 00:00
Slides from the course
50 pages
+ Conclusions
1 lecture 00:48
Bonus Lecture: up to 90% discounts for all my courses
00:48