Lean Cycle Evolution Flashcards
What is the MVP in the Build-Measure-Learn Cycle?
The Minimum Viable Product (MVP).
What is the purpose of the Learn-Measure-Learn Cycle?
- Helps prevent unnecessary costs
- Ensures market demand before building
Why does the Learn-Measure-Learn Cycle start with the Learn phase?
It allows better planning by ensuring market demand for the product.
What happens in the Learn phase?
An enterprise creates a hypothesis about the market and determines what empirical data would validate it.
What happens in the Measure phase?
The hypothesis is tested by collecting empirical data (e.g., market research, public surveys).
When does the Build phase begin?
When empirical data supports the hypothesis.
What is created in the Build phase?
A Minimum Viable Product (MVP).
What is pivoting?
Changing product direction based on new insights at the end of a cycle.
What is a Technology Pivot?
Occurs when the product could deliver value more efficiently using different technology.
What is an example of a Technology Pivot?
Microsoft Office was a one-time purchase, but Microsoft 365 became a cloud-based subscription service.
What is a Zoom-In Pivot?
When a product feature becomes an entire product.
What is an example of a Zoom-In Pivot?
Flickr started as a multiplayer game, but its photo-sharing feature became more popular.
What is a Zoom-Out Pivot?
When a product becomes just a feature within a larger product.
What is an example of a Zoom-Out Pivot?
DotCloud evolved into Docker to allow application movement between clouds.
What is a Customer Segment Pivot?
When the product solves a problem, but for a different audience than intended.
What is an example of a Customer Segment Pivot?
YouTube started as a dating site but pivoted to general video sharing.
What is a Customer Need Pivot?
When the product solves a problem, but not the most important one.
What is an example of a Customer Need Pivot?
Twitter started as a podcasting platform but pivoted to an SMS-based social network.
Why are other types of MVPs important?
Because software is expensive and difficult to develop.
What is a Concierge MVP?
A person works directly with customers to refine the product concept.
What is an example of a Concierge MVP?
A wedding planner discussing initial plans with a couple.
What is a Wizard of Oz MVP?
A person simulates a product without the customer knowing.
What is a Landing Page MVP?
A page that introduces a product idea and allows potential customers to pledge support.
What is a Video MVP?
A video demonstrating the product and asking for customer sign-ups.
