I’ve recently been involved in designing and running a bunch of different experiments under Lean Startup principles with an emphasis on testing the value proposition and customer traction (rather than product-specific factors).
While on the surface the idea of experiments seems relatively straightforward, my experience has been they are trickier to get right than they first appear. Especially early in the development of a product or service.
We’ve had some #flearnings along the way that I thought would be valuable to share (to “fail informatively” to borrow the phrase from Clay Shirky). Continue reading
We recently saw Australia’s leading political parties exchanging policies to out-fund the other in relation to spurring “innovation.” By and large, I think this is good thing, and a refreshing change to focus on ways forward and the future, rather than on who might come in or out of the country, and one whose terms.
During these announcements, Labor put forward their policy position which included regional hubs, to be delivered through educational institutions such as universities and the idea of a “Startup Year” for students.
Around that time, Steve Baxter from River City Labs1 and Shark Tank, took to BRW to argue the case to Fund accelerators, not just universities.
I can’t say I disagree with the overall sentiment of Steve’s piece, but it did cause me to take pause and think a little deeper about the role and relationship of startups and university research. Continue reading
A few weeks back a brief post from our friend Adrian @ Pure and Applied rekindled some previous thinking about the idea of a Minimum Viable Product.
(Vladimir Blagojevic has created a terrific introduction/guide to Minimum Viable Products for those that aren’t familiar with the term.)
Adrian’s post pointed to a wonderful diagram by Jussi Pasadena (@jopas)—an adapted version of this diagram is included at the top of this post—about what I think is a common misconception as to what a Minimum Viable Product is, focusing too heavily on the basic functional building blocks of a product or service offering.
I’ve previously termed this idea as the Minimum Inspiring Product. Other’s have circled around this same concept with different terminology: Minimum Lovable Product, Minimum Delightful Product etc. In essence, I think we’re largely referring to the same thing—that while it’s critically important not to get carried away with overbuilding, it is important to include in a product or service elements that delight. Continue reading