Comments on: MVPP: Minimum Viable Product Purchase and the lesson of the first trash talk T’s

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By: Justin S

Justin S — Tue, 20 Apr 2010 04:38:11 +0000

Both factor, I'm sure, with some expectation setting issues thrown in for good measure (but maybe that's what you mean about marketing campaigns)

By: phineasb

phineasb — Tue, 20 Apr 2010 04:26:00 +0000

Inverse correlation of price to time to prove value, or maybe the
higher price items begin the process of "proving value" in the
marketing campaigns that come along with the pre-launch hype?

Phin Barnes
Principal, First Round Capital
215.327.0849

By: Justin S

Justin S — Tue, 20 Apr 2010 04:21:26 +0000

I'm so late to this, but I love the topic, so here goes. This strikes me as really important to anyone with a free or freemium offering. When people lay out $$$ for an iPhone, they'll take time to learn to use it (even without the contract lock-in). When trying out a free webapp, there's no investment, so it gets 3-5 minutes to prove its value. For me, if 5 minutes in I'm still setting up or listening to a tutorial, I'm probably outta there. Point is, the less expensive your product is try, the less time it has to prove its value to the customer, and the more crucial it is to find that MVPP.

By: brett1211

brett1211 — Wed, 17 Mar 2010 21:52:26 +0000

Truth. But even with the iphone, much of Apple's success stems from its
willingness to curtail functionality to achieve greater usability.
Microsoft OS phones had been around for a while but they never took off
because (beware, assumptions coming) they tried to cram a PC into a phone.
Apple understands pareto principle. I sometimes hate them for it (the only
reason we can't multitask is because steve jobs doesn't trust us to manage
our own battery life) but it seems to work for most people (that can afford
apple products!).

ps. I'm going to try to hit Bryant park at 3pm if at all possible.

By: blake41

blake41 — Wed, 17 Mar 2010 21:06:30 +0000

Totally agree. That said, I'm truly impressed by products that can do it all. The iphone redefined the market when it allowed one to make phone calls, play all your music, and really use the web all on a mobile device. Similarly, the facebook app replicates all the essential features of the website, in an incredibly easy to use mobile app.

By: brett1211

brett1211 — Wed, 17 Mar 2010 20:38:32 +0000

well said. This is especially true for mobile applications. With even less real estate to work with, packing in more features only makes things less usable. The best mobile apps usually perform one task but do it very well – all the games, shazam, pandora, etc. Good feature rich apps like facebook are the exception, not the rule.

Startups should never try to complete with “more” of anything – be it features, data, users, whatever. I am instantly wary of business plans that talk about their competitors “incomplete solutions.” Startups should aim creating the “new” – data, features. A little know fact is that when people show me a product comparison matrix, I don't want to see how your product is going to check off all of the boxes. much preferable would be to see that your product is checking off a bunch of valuable boxes that no one else knows customers want.

By: phineasb

phineasb — Wed, 17 Mar 2010 17:11:00 +0000

Thanks Sarah. Simplicity and solutions to real problems should be a focus in any product dev effort and perspective on doing enough to drive a purchase, create passion and get a wow out of the customer but so much that you limit you ability to monetize is critical.
Phineas Barnes
Principal, First Round Capital
www.frc.vc/phin
www.sneakerheadVC.com
www.twitter.com/phineasb

By: sarah merion

sarah merion — Wed, 17 Mar 2010 16:52:43 +0000

Thank goodness for that critical suggestion from Footlocker. I'm totally into your statement “I always wonder if we could grow the total opportunity by offering less”. It's often overlooked that in general, consumers want solutions and simplicity rather than complexity and a headache. Kudos on this great story and business lesson.