How do you use a value proposition canvas to identify and prioritize your minimum viable product features?

1 What is an MVP?

An MVP is a version of your product or service that has just enough features to solve a core problem for a specific segment of customers. It is not a final or polished product, but rather a way to test your value proposition and learn from your customers' reactions. An MVP helps you avoid wasting time and resources on building something that nobody wants or needs. It also allows you to iterate and improve your product or service based on real data and feedback.

2 How to use a value proposition canvas to identify MVP features?

To use a value proposition canvas to identify MVP features, you need to begin by listing the jobs, pains, and gains of your target customers. Jobs are the tasks or needs your customers want to accomplish or satisfy, while pains are the negative outcomes they experience or fear when trying to do their jobs. Gains are the positive outcomes they expect or hope to achieve. Next, list the products, features, and benefits you offer or plan to offer. Products are the solutions you provide, while features are the attributes that enable them to perform certain jobs. Benefits are the value or outcomes your products and features deliver. Then, match the products, features, and benefits with the jobs, pains, and gains of your customers to create a value proposition. You can use sticky notes, arrows or colors to visually connect them. Finally, prioritize the features that have the strongest fit with your customers' jobs, pains and gains for your MVP. You can use a scoring system or ranking method to decide which ones are most important and relevant.

3 How to use a value proposition canvas to validate MVP features?

To use a value proposition canvas to validate MVP features, you must first formulate hypotheses based on the canvas, such as a statement that expresses assumptions about customers, products, and value proposition. Second, design experiments to test these hypotheses. Then execute the experiments and measure results. Fourth, analyze the data and feedback and compare it with the hypotheses. Fifth, use the learning to make changes or additions to the MVP features and value proposition; you can also refine or revise hypotheses and repeat the process until you find a product-market fit. By following these steps, you can ensure your MVP features are validated.

4 What are some examples of value proposition canvas and MVP features?

To illustrate how to use a value proposition canvas to identify and prioritize MVP features, here are some examples. For instance, Airbnb is a platform that connects travelers with hosts who offer unique accommodations around the world. It caters to travelers who want to explore new places, experience local culture, and find affordable and comfortable lodging. The value map includes a website and an app that allow travelers to search, book, and pay for various types of accommodations. The core features for testing its value proposition were a simple website that allowed hosts to list their space and travelers to browse and book them, a payment system that charged travelers when they checked in and paid hosts when they checked out, and a feedback system that encouraged users to rate and review their experience. Spotify is a streaming service that offers access to millions of songs, podcasts, and playlists. It is tailored towards music lovers who want to discover, listen to, and share their favorite songs, podcasts, and playlists across different devices and platforms. The value map includes a website and an app that allow users to stream, download, and create their own music, podcasts, and playlists. The core features for testing its value proposition were a desktop app that allowed users to stream music from a large catalog of songs, a search function that enabled users to find songs by artist, album, or genre, and a playlist function that enabled users to create and edit their own playlists.