ENTE3534 – Social Innovation & Entrepreneurship
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Week 24 Seminar – Dr Samuel Olutuase
Formative Feedback on MVP
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Learning Objectives
Today’s session affords you the opportunity to Present your MVP, and receive formative feedback which will help you improve for your next week’s pitch.
Recall: Rethinking – the Product Development Process
Concept
Research
Analysis
Develop
Launch
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Recall: MVP Homework from Week 18
Reflect on your task so far, your social problem, your approach for solving the social problem,
List your inner stakeholders –makes sure you have a table
List your external stakeholders – Make sure you have captured this in the table format.
Build: If you were to start the venture, what would be your minimum viable product(s) or services that you would initiate? (list a few ideas and rank them to the most viable
Measure : How would you ensure that you interact with the world (beneficiaries) in order to collect feedback for your product/service you are introducing. What will you be measuring? (can you identify some metrics)
Learn: what are you planning to do to find out as quick as possible if you need to change something?
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Recall: MVP Seminar Activity from week 20
MVP: Minimum Viable Product or Service:
The materialisation of an idea that is still far from perfect but good enough (sufficient features) to introduce to public. Under a MVP rationale, you avoid “the temptation to overbuild and overpromise” (Ibid, p. 97).
Recall: You were to think about a version of your idea that requires only a fraction of such resources – something that you can quickly introduce to public so that you can start learning from the corresponding interaction (in order to find out in a timely manner whether you have a good or a bad idea at hand) and feedback.
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Task 1: Outline your MVP
Outline – based on your well thought-out MVP, do the following
Build: Describe the chosen idea & its unique features
Measure : List key metrics for measuring MVP
Learn: Determine feedback loops
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Presentation
Voluntarily make your presentation; and you should receive feedback from tutor/peers
20 mins
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Feedback/Discussion
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Q & A
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