I just love success stories, don´t you?
I have just read a great blog post by Justin Mares where he explains how he validated his business idea in two weeks with less than $100. And he has created a thriving business which reached 6 figures in the first five months.
I could not resist, and created a MVP canvas for his first MVP –the Minimum Viable Product– that proved his business idea.
MVP Canvas example – the paleo business idea
Kettle & Fire bone broth MVP 1 – Validating the business
MVP Vision
Paleo diet followers would purchase bone broth online
Segmented Personas
- paleo dude (a paleo diet follower)
- online searches for the San Francisco region only
- add campaign points to the basic landing page
Journeys
- paleo dude searches for bone broth
- paleo dude purchase bone broth online
Features
- Create basic landing page with paypal integration
- Set-up ad words campaign on bing
Cost & Schedule
- $5 on logo, $50 on Bing ads
- One week to create landing page
- Two weeks to measure results
Outcome Statement
I believe that this MVP will achieve…
(1) show me how many people want this product and (2) show if they will spend enough on the product
Metrics for business hypotheses validation
I will know it happen based on these metrics…
– Conversion rate is higher than 15%
– At least 4 people clicked on order now on the first week
