1 DAY MVP

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 Section 4
Identifying your
target market
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 Lecture 29
Drill down on potential customers

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Drill down on potential customers

 Problems vs. benefits

 All business solutions and ideas belong

to one of these 2 categories

 Most ideas solve problems

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Drill down on potential customers

 Take your idea and try to break it down to figure out

what functions it has, what it solves, and who benefits
from it

 Draw a table with 3 rows

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Drill down on potential customers
 Does - 3-4 functions

 Solves - read the functions and think about what

problem each of them solves

 Who - cover up the "does" row and ignore it

- look at the listed problems and think about
who has them
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Drill down on potential customers

 You can stumble upon peripheral customers

 They benefit from your product, but you

never considered them

 Think about who can turn out to be your

peripheral customers

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 Lecture 31
Triage your list down to 3

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Triage your list down to 3

 MVP experiments have to be short and precise

 You have to choose a list of top 3 customer

groups in order to test your idea

 Tier 1 problems = potential customers' top 3 problems

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Triage your list down to 3

 Example: On demand dog walking app

 Potential customers:
- Millennial urbanites
- Overworked families
- House keepers and house sitters
- Dog shelters
- Dog boutiques and spas
- Dog breeders

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Triage your list down to 3

 What problem does our solution solve?

 People don't have time to walk their dogs

 For what group is this a Tier 1 problem?

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Triage your list down to 3

 Cross off the groups that don't have this as a priority

 Rank the 3 groups that remain

 The three groups that are most likely to have this

problem as a Tier 1 are: #1 Millennial urbanites
#2 Overworked families
#3 Dog breeders

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 Lecture 33
Customer segmentation

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Customer segmentation

 When making an MVP, you have to

target a specific group of customers

 There are 3 dimensions you can analyze

your groups on:  Geographics
 Demographics
 Psychographics

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Customer segmentation

 Geographics
- Are they rural or urban?
- Are they living in a big city?
- What country are they living in?
- Is climate important for selling your product?
- Is internet connectivity important?
- Are they in a certain region?

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Customer segmentation

 Demographics
- What's their age?
- What gender are they?
- Does their ethnicity matter?
- Does their income matter?
- Does their level of education matter?
- Does their marital status matter?

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Customer segmentation

 Psychographics
- What personality traits do they have?
- What interests do they have?
- What do they like or dislike?
- What are their opinions?
- What's their lifestyle?

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Lecture 35
User personas

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User personas

 Creating user personas = coming up

with fake people that can be your customers

 Give the person a name (Mr. Customer)

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User personas
Mr. Customer

 Age  What they like

 Ethnicity
 Income range
 Urban/Rural
 Where they live
 Marital status
 Children
 What they don't like
 Where they get their information
 Why they might like your product
 Personality traits
 Anything you find relevant

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User personas

 Make 2-3 user personas that you can

refer to later in your experiment

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