OpenUp: MVP Development Best Practices
A Minimum Viable Product (MVP) is a product with enough features to satisfy early paying customers, while also providing an opportunity for feedback for future product development. This can liberate founders from having to develop the entire innovation before learning exactly what the customer needs.
Building an MVP will show beyond a doubt that people will use the product, substantiating the need for the innovation and also the business supporting it. Willingness to pay and growth potential can be determined based on user testing and feedback data.
Startups tend to look for funding to cover product development expenses before having market adoption proof or traction insight. However, they first should test their idea in the most simple form within their target audience to observe how the prospective customer interacts with their innovation, if the innovation provides them value and if they would be willing to pay for that innovation. MVPs should be thoughtfully planned and executed so the startup can forecast what impact and growth potential they could attain with the right completed product or innovation.
WHAT TO EXPECT
Nick Lamb will cover the concept of building MVP and explain the best practices for identifying, building and testing it out.
You will learn why you need to build MPV, types of MVP models, and user testing approaches.
This is a presentation with an open Q&A at the end.
DATE, TIME, TICKET PRICE
Wednesday, November 3, 2021
1-2 pm MDT
$0 to attend
Meet The Expert: Nick Lamb
Nicholas Lamb is the CEO and Owner of Outcode Software. He loves to work with individuals and companies looking for a product-focused path using innovative ideas to improve quality of life. Nicholas has worked on finding ways to use technology to help each company grow and see a healthy return on investment for a variety of different industries ranging from Energy to Customer Experience to Wall Street and everything in between. He loves to help make others’ dreams become a reality. Nicholas holds a Master’s Degree in Information Systems from the University of Utah. He has taken product and technology leadership roles for funded technology companies and lives his passion for entrepreneurship through investing in startups and expanding OutCode’s ecosystem.