Validating Your Startup Idea with MVP Experiment Canvas from Coursera

By the end of this guided project, you will be able to use the Minimum Viable Product (MVP) Experience Canvas to test your startup business model assumptions. An MVP is a version of a new product which allows a team to collect the maximum amount of validated learning about customers with the least effort. The MPV Experiment Canvas is a framework that help you determine the desirability, viability, and feasibility of your business idea. The model has 12 building blocks that help you to systematically analyze your idea from defining the targeted customers, to experimenting with the model, and to making strategic decisions with the results of the analysis conducted.

For us to practically demonstrate how to use the Canvas to conduct analysis and validate a business idea, we will analyze a Fintech startup company as a case study. Example of the case study would empower you to apply the model to startup, or any venture of your choice. The project is for entrepreneurs who want to avoid the costly mistake of launching a product that nobody needs. Also, for intrapreneurs and business leader that want to experiment and validate a business idea before making significant investment. At the end of the project, you will be able to use the canvas to determine your product-market fit

What's inside

Syllabus

Project Overview

Good to know

Know what's good

, what to watch for

, and possible dealbreakers

Ideal for entrepreneurs and intrapreneurs looking to validate their business ideas with less risk

By offering multi-modal materials, this course caters to various learning styles and preferences

Utilizes the practical Minimum Viable Product (MVP) Experience Canvas to guide learners through the validation process

Conducted by Omodiaogbe Samuel, recognized for his expertise in business model validation and testing

Focuses on real-world application through a case study of a Fintech startup company

Emphasizes systematic analysis and decision-making based on data and experimentation

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Validating Your Startup Idea with MVP Experiment Canvas with these activities:

Read 'The Lean Startup' by Eric Ries

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Provides a foundational understanding of lean startup principles and MVP development.

View The Startup Way: How Modern Companies Use... on Amazon

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Read and summarize key chapters on MVPs and customer validation.
Apply the concepts to your own startup or business idea.

Attend an Incubator or Accelerator Demo Day

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Provides exposure to the startup ecosystem and potential mentors.

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Research and identify relevant demo days.
Attend the event and engage with startups and investors.
Follow up with interesting connections made at the event.

Explore Case Studies of Successful MVPs

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Provides insights into real-world applications of MVPs.

Browse courses on Product Development

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Identify case studies of successful MVPs.
Analyze the MVPs' strategies and outcomes.
Extract lessons learned and best practices.

Four other activities

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Practice Minimum Viable Product (MVP) Experiment Canvas Building Blocks

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Reinforces understanding of the MVP Experiment Canvas by working through practical examples.

Browse courses on mvp

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Review MVP Experiment Canvas and its 12 building blocks.
Identify a startup business model assumption to test.
Work through each building block of the MVP Experiment Canvas to analyze your assumption.
Summarize your analysis and make strategic decisions based on the results.

Facilitate a Discussion on MVP Validation

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Enhances critical thinking and communication skills by leading a discussion on MVP validation.

Browse courses on Product Development

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Prepare discussion questions and materials on MVP validation.
Moderate the discussion, encouraging participation and diverse perspectives.
Summarize key insights and takeaways from the discussion.

Create a Fintech Startup Pitch Deck

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Applies the concepts of the course by creating a pitch deck for a hypothetical fintech startup.

Browse courses on Fintech

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Identify a fintech problem and define the target market.
Develop a solution and describe the value proposition.
Design a business model and revenue strategy.
Create a compelling presentation that showcases the startup's potential.

Develop a Business Model for a New Product or Service

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Applies course concepts to a real-world project, fostering entrepreneurial thinking.

Browse courses on Business Model Development

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Identify a problem or opportunity in the market.
Develop a solution and define the target market.
Design a business model and revenue strategy.
Create a prototype or minimum viable product for testing.
Validate the business model and make necessary adjustments.

Career center

Learners who complete Validating Your Startup Idea with MVP Experiment Canvas will develop knowledge and skills that may be useful to these careers:

Entrepreneur

Entrepreneurs are people who start their own businesses. This course may be useful for Entrepreneurs because it teaches them how to use the MVP Experiment Canvas to test their business ideas. This framework can help them to avoid the costly mistake of launching a product that nobody needs.

See salaries and explore the career path for Entrepreneur

Startup Advisor

Startup Advisors work with startups to help them grow and succeed. This course may be useful for Startup Advisors because it teaches them how to use the MVP Experiment Canvas to evaluate startup business models. This framework can help them to identify the key risks and challenges that startups face and to develop strategies for overcoming those challenges.

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Intrapreneur

Intrapreneurs are employees who start new businesses within existing companies. This course may be useful for Intrapreneurs because it teaches them how to use the MVP Experiment Canvas to test their business ideas. This framework can help them to get their ideas approved and funded.

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Growth Hacker

Growth Hackers are responsible for developing and executing strategies to grow their companies. This course may be useful for Growth Hackers because it teaches them how to use the MVP Experiment Canvas to test their growth strategies. This framework can help them to identify the key channels and tactics that are most effective at driving growth.

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Angel Investor

Angel Investors invest in startups. This course may be useful for Angel Investors because it teaches them how to use the MVP Experiment Canvas to evaluate startup business models. This framework can help them to identify the startups that have the most potential for success.

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Venture Capitalist

Venture Capitalists invest in startups. This course may be useful for Venture Capitalists because it teaches them how to use the MVP Experiment Canvas to evaluate startup business models. This framework can help them to identify the startups that have the most potential for success.

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Business Analyst

Business Analysts work with businesses to identify and solve problems. This course may be useful for Business Analysts because it teaches them how to use the MVP Experiment Canvas to analyze business ideas. This framework can help them to identify the key assumptions that need to be tested and to develop strategies for testing those assumptions.

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Analytics Manager

Analytics Managers are responsible for collecting, analyzing, and interpreting data to improve their companies' performance. This course may be useful for Analytics Managers because it teaches them how to use the MVP Experiment Canvas to design and conduct experiments. This framework can help them to identify the key metrics that need to be tracked and to develop strategies for using data to improve decision-making.

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Product Manager

Product Managers are responsible for planning, developing, and launching new products. This course may be useful for Product Managers because it teaches them how to use the MVP Experiment Canvas to test their product ideas. This framework can help them to identify the key features that customers want and to avoid launching products that nobody needs.

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Product Marketing Manager

Product Marketing Managers are responsible for developing and executing marketing campaigns for new products. This course may be useful for Product Marketing Managers because it teaches them how to use the MVP Experiment Canvas to test their marketing strategies. This framework can help them to identify the key messages that resonate with customers and to develop campaigns that are effective at driving sales.

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Customer Success Manager

Customer Success Managers are responsible for ensuring that customers are satisfied with their products or services. This course may be useful for Customer Success Managers because it teaches them how to use the MVP Experiment Canvas to identify the key factors that drive customer satisfaction. This framework can help them to develop strategies for improving customer satisfaction and reducing churn.

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Consultant

Consultants help businesses to solve problems and improve their performance. This course may be useful for Consultants because it teaches them how to use the MVP Experiment Canvas to analyze business ideas. This framework can help them to identify the key issues that need to be addressed and to develop strategies for solving those issues.

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Sales Manager

Sales Managers are responsible for leading and motivating sales teams. This course may be useful for Sales Managers because it teaches them how to use the MVP Experiment Canvas to identify the key selling points of their products or services. This framework can help them to develop sales strategies that are effective at closing deals.

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Chief Technology Officer

Chief Technology Officers are responsible for leading their companies' technology teams. This course may be useful for Chief Technology Officers because it teaches them how to use the MVP Experiment Canvas to evaluate new technologies. This framework can help them to identify the technologies that have the most potential for improving their companies' operations and performance.

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Market Research Analyst

Market Research Analysts study market trends, conduct surveys, and analyze data to understand consumer behavior. This course may be useful for Market Research Analysts because it teaches them how to use the MVP Experiment Canvas to test their startup business model assumptions. This framework can help them to determine the desirability, viability, and feasibility of a new product or service.

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