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MinimumViableProductsWhy
they
are
a
life
or
death
matter
whenyou
are
building
a
live
marketplaceWe
share
the
story
on
how
we’ve
built
our
product
Solved.ioon
consecutive
iterations
in
order
to
prevent
failure.MinimumProductsWhytheyare1Hello
//
my
name
is
TomI
learned
how
important
Minimum
Viable
Products
are
the
hardway:
failing
my
first
company.My
new
company,
Solved,
has
an
extra
difficulty:
it’s
a
livemarketplace
-
we
connect
people
facing
a
software
issue
withsoftware
experts
live.In
this
scenario,
building
a
product
on
consecutiveiterations
is
a
life
or
death
matter.Here’s
why
-
and
how
to
make
it
right.Hello//mynameisTomIl2Building
a
live
marketplace
//
The
number
one
challenge
we
need
to
make
sure
the
supply
side
and
the
demand
side
are
validated
simultaneously
and
follow
the
same
path
of
growth.123Supply
software
experts
Supplysoftware
experts
Supplysoftware
experts
Demandcollaborators
who
need
help
Demandcollaborators
who
need
help
Demandcollaborators
who
need
helpBuildingalivemarketplace//3First
MVP
//
validate
the
technology•Our
pain
point:
on-site
training
is
not
efficient
for
big
companies,
and
that
small
companies
only
have
forums
when
it
comes
to
software
issues•Basic
product
need:
connecting
employees
withsoftware
experts
live•First
Step:
make
sure
we
could
establish
a
proper
connection
between
a
client
and
an
expert
within
a
browser
using
the
new
WebRTC
technologyFirstMVP//validatethete4This
is
Solved’s
very
first
MVPThisisSolved’sveryfirstMVP5How
to
assess
the
“V”
in
Minimum
Viable
Product
at
this
point?It’s
a
1
or
0
situation:
if
your
productworks,
then
you
should
go
on.Howtoassessthe“V”inMinim62nd
MVP
//
fuel
the
supply
side•Solved
is
supposed
to
be
used
with
any
software
but
we
reduced
the
scope
to
Ms
Excel:
it
has
a
lot
of
heavy
users
and
is
complex
enough.•Basic
product
need:
finding
experts.
We
could
have
hired
some,
but
it
wouldn’t
have
proven
that
there
is
a
scalable
supply
(freelancers
working
remotely).•Next
Step:
crowding
experts
who
are
interested
in
taking
calls
and
helping
people
remotely
within
an
on-demand
platform2ndMVP//fuelthesupply71.Build
a
landing
page1.Buildalandingpage82.Drive
traffic
towards
it-Direct
marketing:
#FAILReach
was
great
but
not
the
directories
(software
certifications)
so
it
led
tofew
contacts
we
couldn’t
even
convert
into
experts.-Infiltrate
communities:
#FAILContacting
directly
people
in
groups,
groups
led
to
beingbanned
by
algorithms
for
phishing.-Social
media
marketing
#SUCCESSAdvertising
on
Linkedin,
targeting
skills
and
on
targetinginterests.That
led
to
amazing
conversions
and
costs
of
acquisition
of
$10.2.Drivetraffictowardsit-Direc9How
to
assess
the
“V”
in
Minimum
Viable
Product
at
this
point?When
testing
acquisition
methods,your
key
indicator
is
ROI.That
said,
even
though
there
was
room
for
improvement
toreduce
our
CACs,
there
was
no
time
for
it
so
we
never
improvedanything
with
this
process.Howtoassessthe“V”inMinim103rd
MVP
//
qualify
and
quantify
your
supply•We
tried
emailing
experts
a
list
of
questions:
we
only
got
a
10%
open
rate.
Then
we
built
an
in-app
questionnaire
which
worked
well.•We
made
sure
experts
were
not
“paid
to
wait”
by
having
them
invest
some
time
and
energy
on
signing
up
and
we
nurtured
them
with
newsletters.•Next
Step:
test
the
experts’
skills
to
get
a
minimum
volume
and
engage
them
on
our
platform3rdMVP//qualifyandquant11How
to
assess
the
“V”
in
Minimum
Viable
Product
at
this
point?The
key
is
to
avoid
vanity
metrics.We
could
have
bragged
about
having
1000s
of
experts.
100
canseem
a
few
but
it
was
enough
to
prove
our
point:
the
experts
weneed
exist,
and
they
are
willing
to
work
with
us
for
$20/hourbecause
we
offer
great
flexibility
conditions.Howtoassessthe“V”inMinim124th
MVP
//
fuel
your
demand
accordingly•We
needed
to
know
how
we
could
catch
clients
right
when
they
face
a
software
issue
to
connect
them
with
an
expert.4thMVP//fuelyourdemand131.Build
a
landing
pagewe
actually
built
several:
focused
on
Excel,
Photoshop,
etc.1.Buildalandingpageweactua142.Drive
traffic
towards
itUsing
Adwords:
we
bid
on
keywords
like
“problem
VLOOKUP
excel”
and
got
a$10
of
CAC
with
a
good
potential
reach,
which
was
perfect.2.DrivetraffictowardsitUsing15How
to
assess
the
“V”
in
Minimum
Viable
Product
at
this
point?Just
like
the
supply
side:
ROI
is
yourfriend.Howtoassessthe“V”inMinim165th
MVP
//
qualify
and
quantify
your
demand•We
could
not
“stock”
any
of
our
alpha
users:
once
they
signed
up,
we
were
supposed
to
be
able
to
connect
them
with
an
expert.•Our
technology
wasn’t
ready
so
we
had
to
use
tricks
to
connect
experts
and
clients
(using
live-chat
plugins,
Skype
etc.)•We
needed
to
check
that
our
experts
could
solveour
client’s
issues5thMVP//qualifyandquant17Live-chat
with
a
client
on
thelanding
pageChecking
out
whichexperts
were
available
on
Skype
whileFour
(painful)
days
later…
Our
first
call!Live-chatwitha clientonthe18How
to
assess
the
“V”
in
Minimum
Viable
Product
at
this
point?We
realized
that
our
clients
had
realissues
that
our
experts
could
fix
livewithin
20
minutes.There
are
many
reasons
why
this
could
have
been
a
failure:
if
theclient
had
been
more
expert
than
our
expert,
if
the
client
wasreally
incapable
of
anything,
if
the
calls
had
lasted
only
2
minutesor
2
hours.
Big
victory
for
us.Howtoassessthe“V”inMinim19It
showed
us
we
needed
to
build
a
kick-ass
product
to
automate
the
connexion
between
clients
and
experts
:)Itshowedusweneededtobuil20To
sum
up
//
building
a
live
marketplace
means…Handle
instant
liquidity
on
both
supply
&
demand.Test
acquisition
on
each
side
-
at
a
reasonableROI
and
using
scalable
methodsTest
your
first
users
retentionside.Possibly
build
your
own
technology.Uber
couldn’t
use
phone
lines:
they
neededtheir
magic
app!Build
your
app
while
testing
your
supply
and
demandFocus
on
the
supply
side
before
the
demandIn
the
meantime,
use
your
imagination!Tosumup//buildingalive21Thank
you,
we
areRead
more
on
our
blog.
Try
solved
for
free
now.Thankyou,weareReadmoreon22矢量卡通航天科技模板课件23MinimumViableProductsWhy
they
are
a
life
or
death
matter
whenyou
are
building
a
live
marketplaceWe
share
the
story
on
how
we’ve
built
our
product
Solved.ioon
consecutive
iterations
in
order
to
prevent
failure.MinimumProductsWhytheyare24Hello
//
my
name
is
TomI
learned
how
important
Minimum
Viable
Products
are
the
hardway:
failing
my
first
company.My
new
company,
Solved,
has
an
extra
difficulty:
it’s
a
livemarketplace
-
we
connect
people
facing
a
software
issue
withsoftware
experts
live.In
this
scenario,
building
a
product
on
consecutiveiterations
is
a
life
or
death
matter.Here’s
why
-
and
how
to
make
it
right.Hello//mynameisTomIl25Building
a
live
marketplace
//
The
number
one
challenge
we
need
to
make
sure
the
supply
side
and
the
demand
side
are
validated
simultaneously
and
follow
the
same
path
of
growth.123Supply
software
experts
Supplysoftware
experts
Supplysoftware
experts
Demandcollaborators
who
need
help
Demandcollaborators
who
need
help
Demandcollaborators
who
need
helpBuildingalivemarketplace//26First
MVP
//
validate
the
technology•Our
pain
point:
on-site
training
is
not
efficient
for
big
companies,
and
that
small
companies
only
have
forums
when
it
comes
to
software
issues•Basic
product
need:
connecting
employees
withsoftware
experts
live•First
Step:
make
sure
we
could
establish
a
proper
connection
between
a
client
and
an
expert
within
a
browser
using
the
new
WebRTC
technologyFirstMVP//validatethete27This
is
Solved’s
very
first
MVPThisisSolved’sveryfirstMVP28How
to
assess
the
“V”
in
Minimum
Viable
Product
at
this
point?It’s
a
1
or
0
situation:
if
your
productworks,
then
you
should
go
on.Howtoassessthe“V”inMinim292nd
MVP
//
fuel
the
supply
side•Solved
is
supposed
to
be
used
with
any
software
but
we
reduced
the
scope
to
Ms
Excel:
it
has
a
lot
of
heavy
users
and
is
complex
enough.•Basic
product
need:
finding
experts.
We
could
have
hired
some,
but
it
wouldn’t
have
proven
that
there
is
a
scalable
supply
(freelancers
working
remotely).•Next
Step:
crowding
experts
who
are
interested
in
taking
calls
and
helping
people
remotely
within
an
on-demand
platform2ndMVP//fuelthesupply301.Build
a
landing
page1.Buildalandingpage312.Drive
traffic
towards
it-Direct
marketing:
#FAILReach
was
great
but
not
the
directories
(software
certifications)
so
it
led
tofew
contacts
we
couldn’t
even
convert
into
experts.-Infiltrate
communities:
#FAILContacting
directly
people
in
groups,
groups
led
to
beingbanned
by
algorithms
for
phishing.-Social
media
marketing
#SUCCESSAdvertising
on
Linkedin,
targeting
skills
and
on
targetinginterests.That
led
to
amazing
conversions
and
costs
of
acquisition
of
$10.2.Drivetraffictowardsit-Direc32How
to
assess
the
“V”
in
Minimum
Viable
Product
at
this
point?When
testing
acquisition
methods,your
key
indicator
is
ROI.That
said,
even
though
there
was
room
for
improvement
toreduce
our
CACs,
there
was
no
time
for
it
so
we
never
improvedanything
with
this
process.Howtoassessthe“V”inMinim333rd
MVP
//
qualify
and
quantify
your
supply•We
tried
emailing
experts
a
list
of
questions:
we
only
got
a
10%
open
rate.
Then
we
built
an
in-app
questionnaire
which
worked
well.•We
made
sure
experts
were
not
“paid
to
wait”
by
having
them
invest
some
time
and
energy
on
signing
up
and
we
nurtured
them
with
newsletters.•Next
Step:
test
the
experts’
skills
to
get
a
minimum
volume
and
engage
them
on
our
platform3rdMVP//qualifyandquant34How
to
assess
the
“V”
in
Minimum
Viable
Product
at
this
point?The
key
is
to
avoid
vanity
metrics.We
could
have
bragged
about
having
1000s
of
experts.
100
canseem
a
few
but
it
was
enough
to
prove
our
point:
the
experts
weneed
exist,
and
they
are
willing
to
work
with
us
for
$20/hourbecause
we
offer
great
flexibility
conditions.Howtoassessthe“V”inMinim354th
MVP
//
fuel
your
demand
accordingly•We
needed
to
know
how
we
could
catch
clients
right
when
they
face
a
software
issue
to
connect
them
with
an
expert.4thMVP//fuelyourdemand361.Build
a
landing
pagewe
actually
built
several:
focused
on
Excel,
Photoshop,
etc.1.Buildalandingpageweactua372.Drive
traffic
towards
itUsing
Adwords:
we
bid
on
keywords
like
“problem
VLOOKUP
excel”
and
got
a$10
of
CAC
with
a
good
potential
reach,
which
was
perfect.2.DrivetraffictowardsitUsing38How
to
assess
the
“V”
in
Minimum
Viable
Product
at
this
point?Just
like
the
supply
side:
ROI
is
yourfriend.Howtoassessthe“V”inMinim395th
MVP
//
qualify
and
quantify
your
demand•We
could
not
“stock”
any
of
our
alpha
users:
once
they
signed
up,
we
were
supposed
to
be
able
to
connect
them
with
an
expert.•Our
technology
wasn’t
ready
so
we
had
to
use
tricks
to
connect
experts
and
clients
(using
live-chat
plugins,
Skype
etc.)•We
needed
to
check
that
our
experts
could
solveour
client’s
issues5thMVP//qualifyandquant40Live-chat
with
a
client
on
thelanding
pageCheck
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