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Taking Ideas to Business using MVPs
- 1. Taking
Ideas
to
Business
via
MVPs
Manish Singhal, Chief Saarthi
Saarthi Integrated Consulting LLP
www.saarthiconsulting.com
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- 2. What makes a business?
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- 3. Customer Need
Unless the idea addresses an
apparent or latent need/pain point
for a customer, it cannot be turned
into a business.
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- 4. Ability to Monetize
There has to be a clear, simple and
easy way to monetize your service/
product either directly by users or
indirectly (by advertisers etc)
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- 5. Risks for an idea to become a
Business
Execution – Building Your Product / Service
Adoption - Relevance to the Customer Need
in context of other options available
Monetization – Relevant enough for the
customer to pay
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- 6. Can we minimize these Risks?
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- 7. RedBus – First Product
2005: Based on a personal experience, Phani
realized the in-efficiency in booking bus
tickets
Customer Need
• Bus traveler should be able to find a seat across
multiple bus lines easily
• Bus operators can be more efficient in filling their
seats using a software which does so
2006: Developed a software for the bus
operators to pool in the vacant seats
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- 8. Linear Model of Business –
Product Centric Approach
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- 9. No takers!
Not even for free!
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- 10. RedBus – The second take
Mid 2006: Got Mentoring from TiE and
launched a market survey
Found that bus operators are only interested in
selling tickets
Tested the idea with taking 5 tickets from an
operator and selling them personally
Late 2006: Pivoted the idea from selling
software to becoming a sales channel for
tickets!
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- 11. Iterative Model of Business –
Customer Centric Approach
Customer
Discovery
Business
Valida5on
Customer
Valida5on
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- 12. Building a customer centric business
is nothing but building a series of
well targeted MVPs
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- 13. MVP - Goals
Bare minimum representation of your
product which will test fundamental
business hypotheses
Is Customer Need being met? If so, to what
extent?
Will the customers be interested in using the
product against other options available?
Will they pay for it?
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- 14. “Your
Store,
Your
TV,
Your
Ads”
2010
October
November
December
• Idea!
• Func5onal
• Market
ready
• Survey
prototype
prototype
• Business
plan
• IT
BHU
• Pilot
–
Khivraj
incuba5on
Bajaj
2011
January
Feb/Mar
May-‐June
• SOH
Instore
• Jugaad
H/w
to
• Remote
Delivery
• Pilot
–
Lifestyle
demo
• Web
based
control
• Demo
–
Maru5/ • Paying
customers
• Legal
Opinion
Hyundai
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- 15. Manish Singhal
Key Skills – Business Catalyst, Ideation, Technology, Management,
Operations
Several years of experience in start-ups as well as established
companies like Sling Media, Ittiam Systems & Motorola
On the jury and mentor panel for several business plan competitions e.g.
Power Of Ideas (Economic Times), White Knight (IIMK), Eureka (IIT
Mumbai)
Contributed to MPEG-4 standard as a member of MPEG committee. Hold
two patents on video technology
Mentor / Business Coach for Tech based businesses.
On Advisory board of Freshersworld.com & Moontara Technovations
B Tech Electrical Engineering IIT Kanpur 1992
@manish_saarthi
http://in.linkedin.com/in/smanishsinghal
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- 16. Q&A
?
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