How to shape your ideas into businesses using Minimal Viable Product approach? What are MVPs? What do they provide a start-up?

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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17. Thank You!
manish@saarthiconsulting.com
www.saarthiconsulting.com
www.facebook.com/saarthiconsulting
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