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How do you get your product team to be more agile, innovate faster and reduce the cost of failure? Download the Minimum Viable Product (MVP) presentation template to dedicate the right resources and develop the most important benefits that users actually want. MVPs prioritize your workflow to identify the most important features to build for customers and lower the cost of failed projects.

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This template includes slides on MVP Canvas, MVP Score, Concept testing reports, validation metrics, weighted-shortest job-first feature prioritization, product adoption curve, jobs-to-be-done, MVP tree, A/B test results, product mockups, and many more. Plus, read to the end to learn how Uber developed a killer MVP that launched them to 93 million customers.

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MVP canvas

An MVP Canvas introduces the core components of an MVP from start to finish for PMs or designers. This slide can be shared across the entire product team as a blueprint for whatever product or features you aim to build. First, define the product's target customers and what they want. Next, define how you will build and test your MVP, then how learnings will influence the next step (which is the next iteration). Execs can then assess what the test results and feedback tell them. Should they continue with the full version along the original path, make slight adjustments and pivot in a new direction, or if the feedback is really bad, implement a full stop to the development and pursue something else. (Slide 3)

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MVP scope

An MVP is the skeleton of a product. For a product that might have 20 different features, this slide lets you triage which features go into the MVP. Each column from left to right dictates a user's flow. In the template example, the flow goes: customize, manage order, pay and receive order. For each part of the user journey, there are different features. List the features in order of highest priority to lowest priority. A dark blue color means this feature is needed in the walking skeleton, which is like a wireframe. The lighter color features are needed for the full MVP and can be incorporated later. The gray features are unnecessary at this stage. This prioritization helps maximize success with reduced human and financial resources spent on any feature that isn't required to validate the product as worthy of pursuit. (Slide 6)

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Concept testing report

After execs develop and present their MVP to a group of users, it's time to collect and summarize user reactions and feedback. For a quantitative representation, the top graph of this slide represents the users' initial reactions across multiple concepts. Below that, reactions on likelihood to purchase are graded on a scale from definitely to definitely not. These editable graphs can assess the most important questions PMs need to discover for their specific product. On the right, key findings are listed out for PMs to share their conclusions in a qualitative written list summary. (Slide 11)

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Validation metrics

To gauge an MVP's success after launch, PMs can analyze a pool of data. This slide can be used as a status update or periodic check-in for weekly or quarterly reports with the rest of the product team. It covers key financial validation metrics like monthly recurring revenue, annual recurring revenue, average revenue per user, and the lifetime value per user.

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At the bottom, execs can qualify user-based validation metrics across the number of accounts that have newly joined, canceled, upgraded or downgraded services. These metrics are more common for a subscription-based service, so execs with products that follow a different business model can edit these to reflect their most important metrics. (Slide 13)

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Case study: Uber

When the founders of Uber started the project, they wanted to build a way for anyone to buy a black car service straight from their phone called Ubercab. They created a simple prototype with three features: First, the ability to request a car to your location via a text with your address; second, a licensed professional driver in a black car that shows up at the curb, and three, an automatic charge to the credit card on file.

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Once it was ready, they tested it in New York and San Francisco. They didn't even put the app online but made prospective users have to email them to get access. Over time, they used the feedback in these cities to add new features to provide estimated ride fees, split fares, and or track the ride in real-time. This way, they were able to test one core feature to validate the service, then iterate based on what users wanted — not what they thought users wanted. And it helped them grow the business to over 93 million active customers as of 2021.

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Conclusion

If your product design team takes too long before a product launch or wastes time and money on features your customers don't want, you need this presentation. To download the complete Minimum Viable Product (MVP) presentation template, become a Plus member. You'll gain more slides on Weighted-shortest job-first feature prioritization, Product adoption curve, Jobs-to-be-done, MVP tree, A/B test results, product mockups, and many more to save time and hours of work.

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