Minimum Viable Product Template
Designed to demystify the product (and business model) validation process, Kromatic's MVP Template stands as a crucial tool for startups and product teams. This template is inspired by the Business Model Canvas and youā€™ll see familiar elements. It centers the elements of the user journey, illuminating that every stage of the userā€™s experience is identifiable, measurable, and testable. Use it to pinpoint essential user interactions, establish relevant metrics for success, and reconfigure the user experience until you have a minimum viable user journey to test your product.
Central to the template is its emphasis on actionable feedback from real customers, enabling teams to make data-driven adjustments to their product. By fostering an environment of rapid prototyping and continual improvement, the insights from this exercise stimulate product improvements in direct response to user needs and market demands, increasing the likelihood of a successful product launch.
When to Use It
- Developing initial product and business model ideas
- Refining metrics relevant to your product reaching market fit
- Trying to make sense of too much data
- Strategic planning sessions for product features
Who Should Use It
- Product managers focusing on market alignment
- Early-stage startups
- Teams that want to combine qualitative research with real metrics to measure their solution's effectiveness
How It Works
Minimum Viable Product Template Instructions
A clean product storyboard will represent an MVP that you can test in the real world.
- Map all the little things that have to happen for you to deliver the user experience by organizing the frames on the product storyboard.
- Minimize the story to reduce complexity. Remove anything that does not provide value, until you have one viable product that can actually deliver something to the customer.
- Collect measurable data that will tell you if it's ideal from your customer's point of view.
- Mark metrics that indicate user happiness. These metrics often represent leading indicators of retention. Identify the one metric that matters. This metric should integrate directly into your financial model.
- Design an experiment. Make sure that you can instrument all of your metrics, identifying anything that you cannot measure along the way.
- Adjust the storyboard to enable measurement so you can convert your storyboard into an experiment.
Authors and Contributors
Tristan Kromer
Tristan Kromer works with innovation teams and leaders to create amazing products and build startup ecosystems. He has worked with companies from early stage startups with zero revenue to enterprise companies with >$1B USD revenue (Unilever, Swisscom, Salesforce, Fujitsu, LinkedIn).
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