Chapters (Powered by ChapterMe) - 00:00 - Introduction 00:25 - What is an Minimal Viable Product (MVP) 00:42 - Talk to users before writing code 01:42 - Goal of a pre-launch startup 01:49 - - Step 1 - Launch quickly (MVP) 02:13 - - Step 2 - Get initial customers 02:41 - - Step 3 - Talk to customers and get feedback 03:05 - - - Founders mistake - They think that MVP doesn’t have all features, and getting feedback on it is useless 03:36 - - Step 4 - Iterate (improve the product) 04:30 - Lean MVP (in most cases) 04:38 - - Very fast to build (weeks not months) 04:53 - - Very limited functionality 05:10 - - Appeal to a small set of users 05:24 - - Base to iterate from 05:40 - - Example 1 - Airbnb 05:54 - - - No payments 06:08 - - - No map view 06:15 - - - Part-time CTO 06:28 - - Example 2 - Twitch (Justin.tv) 06:47 - - - 1 channel 06:54 - - - Low res video 07:13 - - - No video games 07:28 - - Example 3 - Stripe (/dev/payments) 07:39 - - - No bank deals 07:48 - - - Few features 07:51 - - - Founders would integrate it for you 08:22 - Heavy MVP (in a very few cases) 08:32 - - Significant regulation (insurance, banking) 08:47 - - Hardtech 08:53 - - Biotech 08:57 - - Moonshot 09:36 - Founders Mistake - Often founders see how big companies launch their products and want to do so (have a lot of press/buzz) 10:30 - Launch simply means to start getting customers 10:51 - Learning from customers is easier with an MVP than without 11:22 - Hacks for building an MVP quickly 11:27 - 1. Time box your spec 11:47 - 2. Write your spec 12:23 - 3. Cut your spec 12:57 - 4. Don't fall in love with your MVP! 13:28 - End
`Don't fall in love with your mvp. It's just step one in a journey.. .. You wouldn't fall in love with a paper you wrote in the first grade, and like that's like the level of impact often your mvp has.` This resonates so much.. Thank you dude.
Awesome lecture! Thank you Michael! Two most important sentences for me from this lecture: 1. Do not speak with your users about new features, speak with them about their problems and you figure out the solution. 2. You will recognize that you have product market fit once you spend your time maintaining your app online instead of figuring out new features and developing them.
Straight to the point! One thing though is I think there's a maturity curve associated with MVP's and as time goes on, MVPs have to be better. Just because people's expectations and the technology available is better. You simply could not build an airbnb style business and accept no maps and cash transactions - the bar is too high.
I think you are right. Though it is also easier to incorporate items like maps than it was then. I worked on such a start up project and it looked way better than the first airbnb.
As far as I'm concerned, this is the most precise and knowledge-filled MBA for an Hustler or Startup-hungry person. Dang! So good. Thants YC and Michael
Love this no bs, quick to point advise. I've done almost all those mistakes in my first projects when I started out as a startup guy, but not this time! ;) *Ready to crush it.*
I paused in the middle of the video just to thank you Michael, I can call you best teacher I have ever had in this topic. I was almost feeling disappointed after watching many videos to learn more about launching my idea untill I found one of your videos very useful and subscribed to Y Combinator. Just stopped by to say thank you for your great job and let you know you helped helped me a lot. Cheers
Its amazing this awsome Y C Video is free in a time where everyone is selling their mostly BS course online. You guys are doing amazing service for a lot of people.
Thank you Y Combinator and Michael Seibel. He's amazing and would love for him to host his own podcast or Startup show. He's helped me so much. Awesome vid
Love the analogy! Treating your MVP like a first-grade paper - not the masterpiece of your life, but just the start - that's gold. This new angle really helps sidestep the usual MVP traps, like getting hung up on the details or striving for perfection right out of the gate. It's about progress, not perfection, and this mindset is a game changer!
Wow this is exactly what I needed to hear. It’s been almost a year since I started developing my app and haven’t launched because I’m to busy trying to make it perfect the first time. That’s the biggest mistake you can make in your startup.
This is a great class for me. With my team, have to achieve our first Basic version to offer put on the market. We are creating a new way to make business.
This is a great lecture! Thanks a lot! We agree that gathering feedback after the launch of your product is crucial for its success and continuous improvement. The most valuable feedback comes from unexpected sources. While it's essential to collect feedback from your target audience, don't overlook the potential insights that can be gained from "fringe users" or those who may not be your primary target market. Fringe users often bring a fresh perspective, providing unique insights that can lead to innovative ideas and improvements. Their unbiased viewpoint can uncover hidden pain points or reveal new use cases that you may not have considered before. Embrace the diverse range of perspectives and experiences that can enrich your understanding of user needs and preferences.
This was great! Another reason not to fall in love with your MVP - 99% of MVP's don't actually make a dime... be prepared to graveyard it and try something new. :)
This is very helpful, I really enjoy that they are looking to empower leaders by guiding them by human centered principles i..e putting yourself in the mind of the customer, partner, or investor.
Startup is all about timing. Momentum. Building an MVP as soon as possible to validate its general idea is the best way to go. Failing is not the problem - failing slowly is the problem. One of the many keys to startup success is to fail FASTER, therefore learn FASTER how to adjust your product to its market.
Great video. I have been in love with the Big Vision I have, and was determined to leap frog a few steps 😳😅…But I’ve now finally succumbed to just creating something fractionally like the end solution…and just getting going on that!! 😀👊🇦🇺
@Y combinator Can you guys please upload the follow on questions in a separate video maybe ? They were so beneficial and now they are gone from this video 😔😓 Hope it’s ok to do that, thanks for sharing this and thanks to Michael for all the help
![Lp. Сердце Вселенной #60 РОЖДЕНИЕ ЛОЛОЛОШКИ [Финал] • Майнкрафт](http://i.ytimg.com/vi/YoR0pAV9FVQ/mqdefault.jpg)
Chapters (Powered by ChapterMe) -
00:00 - Introduction
00:25 - What is an Minimal Viable Product (MVP)
00:42 - Talk to users before writing code
01:42 - Goal of a pre-launch startup
01:49 - - Step 1 - Launch quickly (MVP)
02:13 - - Step 2 - Get initial customers
02:41 - - Step 3 - Talk to customers and get feedback
03:05 - - - Founders mistake - They think that MVP doesn’t have all features, and getting feedback on it is useless
03:36 - - Step 4 - Iterate (improve the product)
04:30 - Lean MVP (in most cases)
04:38 - - Very fast to build (weeks not months)
04:53 - - Very limited functionality
05:10 - - Appeal to a small set of users
05:24 - - Base to iterate from
05:40 - - Example 1 - Airbnb
05:54 - - - No payments
06:08 - - - No map view
06:15 - - - Part-time CTO
06:28 - - Example 2 - Twitch (Justin.tv)
06:47 - - - 1 channel
06:54 - - - Low res video
07:13 - - - No video games
07:28 - - Example 3 - Stripe (/dev/payments)
07:39 - - - No bank deals
07:48 - - - Few features
07:51 - - - Founders would integrate it for you
08:22 - Heavy MVP (in a very few cases)
08:32 - - Significant regulation (insurance, banking)
08:47 - - Hardtech
08:53 - - Biotech
08:57 - - Moonshot
09:36 - Founders Mistake - Often founders see how big companies launch their products and want to do so (have a lot of press/buzz)
10:30 - Launch simply means to start getting customers
10:51 - Learning from customers is easier with an MVP than without
11:22 - Hacks for building an MVP quickly
11:27 - 1. Time box your spec
11:47 - 2. Write your spec
12:23 - 3. Cut your spec
12:57 - 4. Don't fall in love with your MVP!
13:28 - End
“Fix the fucking screwdriver” is something that’s imprinted on my mind. Genuinely the most helpful advice I’ve gotten as a founder.
`Don't fall in love with your mvp. It's just step one in a journey..
.. You wouldn't fall in love with a paper you wrote in the first grade, and like that's like the level of impact often your mvp has.`
This resonates so much.. Thank you dude.
Awesome lecture! Thank you Michael! Two most important sentences for me from this lecture:
1. Do not speak with your users about new features, speak with them about their problems and you figure out the solution.
2. You will recognize that you have product market fit once you spend your time maintaining your app online instead of figuring out new features and developing them.
"I work here at y combinator" - the CEO of y combinator
This what makes Michael so likeable
That's what I thought after I read his wikipedia page XD
bravo 😊🙌🏽
No "Fucking" duh I work here.
Exactly! Also dude funded Twitch and sold it for US$1 Billion and is like "I funded 2 companies". That's what humility looks like
YC is doing such a public service with this quality content :)
Thank you 🙏
i was ready to risk everything, but just before i was going to, ycomb opened my eyes.
really great service they are doing
I love this guy. He is just genuine, straight forward and articulate.
True
I love how he paraphrases the questions. Clearly, he's heard a thousand versions of the same question.
Ya totally gets me. I think I love his persona too.
I know! I hate it when speakers don’t do that or don’t even bother repeating the question in any way.
Straight to the point! One thing though is I think there's a maturity curve associated with MVP's and as time goes on, MVPs have to be better. Just because people's expectations and the technology available is better. You simply could not build an airbnb style business and accept no maps and cash transactions - the bar is too high.
I think you are right. Though it is also easier to incorporate items like maps than it was then. I worked on such a start up project and it looked way better than the first airbnb.
As far as I'm concerned, this is the most precise and knowledge-filled MBA for an Hustler or Startup-hungry person. Dang! So good. Thants YC and Michael
Love this no bs, quick to point advise. I've done almost all those mistakes in my first projects when I started out as a startup guy, but not this time! ;) *Ready to crush it.*
Good luck! You can do it!
stop watching garyvee
Zopcuk App stop wasting time.
That's the spirit bro!
I hope you do. You can absolutely do it.
Gotta love a straightforward lecture. No fluff, no sugarcoating.
I paused in the middle of the video just to thank you Michael, I can call you best teacher I have ever had in this topic. I was almost feeling disappointed after watching many videos to learn more about launching my idea untill I found one of your videos very useful and subscribed to Y Combinator.
Just stopped by to say thank you for your great job and let you know you helped helped me a lot.
Cheers
I like how his class was straight to the point, engaging and fun.
Its amazing this awsome Y C Video is free in a time where everyone is selling their mostly BS course online. You guys are doing amazing service for a lot of people.
This is gold for every aspiring entrepreneurs.
1. Timebox your spec
2. Write your spec.
3. Cut the spec.
4. Don't fall in love with your MVP.
This.
I usually also suggest to design the system UI, at least in wireframes. Design helps to visualize, and will help to adapt spec.
That.
Makes a tonn of sense.
This is probably the most simple and helpful video I have watched out of thousands in my 4 year entrepreneurial journey.
This video was so helpful for me in getting my MVP out and stop trying to change and perfect it, thank you.
Same!
@@kajlac u 6
.u
How has your mvp been going!?
How long do you take to build your MVP
Thank you YC for this talk, all of the other talks, and everything that you're doing for the startup community worldwide.
One thing I really like about Michael Seibel is his honesty. The fact that he cusses in his talks honestly makes me trust his words so much more.
This entire series brings me so much joy
I love the way this guy comes to the point without too many stories. Short, crisp and very valuable.
Thank you for sharing Michael ❤
VALUE packed and no BS approach, more please !
Thank you Y Combinator and Michael Seibel. He's amazing and would love for him to host his own podcast or Startup show. He's helped me so much. Awesome vid
Timeless quality and better lack of BS, THX
Quick, concise, and to the point. This is how talks should be. Thanks Michael.
Every time I saw his video ,I fell in love with his teaching.
Love the analogy! Treating your MVP like a first-grade paper - not the masterpiece of your life, but just the start - that's gold. This new angle really helps sidestep the usual MVP traps, like getting hung up on the details or striving for perfection right out of the gate. It's about progress, not perfection, and this mindset is a game changer!
Wow this is exactly what I needed to hear. It’s been almost a year since I started developing my app and haven’t launched because I’m to busy trying to make it perfect the first time. That’s the biggest mistake you can make in your startup.
Yep, this is not about development, but about finding the right market, and relevant business model that will work. It takes some experimentation.
This is one of the best videos on YT.
really appreciate the dude repeating each question after it's been asked
There are some golden nuggets to be found here!
One of the best videos I've seen about MVP. Great stuff
Talk to users to discover problems and not features 🔥🔥
This is the most fun presentation yet on YC. The first time I actually laughed, and yet, great info.
This is a great class for me.
With my team, have to achieve our first Basic version to offer put on the market.
We are creating a new way to make business.
this guy is amazing gives the best advice
That's a man who has mastered the art of time value of money.
This is a great lecture! Thanks a lot!
We agree that gathering feedback after the launch of your product is crucial for its success and continuous improvement.
The most valuable feedback comes from unexpected sources. While it's essential to collect feedback from your target audience, don't overlook the potential insights that can be gained from "fringe users" or those who may not be your primary target market.
Fringe users often bring a fresh perspective, providing unique insights that can lead to innovative ideas and improvements. Their unbiased viewpoint can uncover hidden pain points or reveal new use cases that you may not have considered before.
Embrace the diverse range of perspectives and experiences that can enrich your understanding of user needs and preferences.
This was great!
Another reason not to fall in love with your MVP - 99% of MVP's don't actually make a dime... be prepared to graveyard it and try something new. :)
So chill and to the point🙌
"Turns out launces aren't that special at all"
That rained on my parade while simultaneously shined light on it.
Thank you.
"I work here at Y Combinator".... love it... he is the CEO.
So valuable man! I'm going to be rewatching this A LOT!
I'm learning so much watching these video.
Thanks once again Michael. Great one YC
0:14 he is so self aware 😂 (such an insightful talk! ❤)
This is good- I wish I had seen this video 2 years ago
Michael is one the interesting and funny(I guess) person I hope I can meet him . Big like .... He's so likeable
This is very helpful, I really enjoy that they are looking to empower leaders by guiding them by human centered principles i..e putting yourself in the mind of the customer, partner, or investor.
This video has changed how I have started looking at my startup.
Excellent. Thank you! "Go to market with any MVP to keep the momentum up. Big Time!
So many people need to watch this!!!!
Thank you michael, this is super clear and concise on how to bulid mvp.
The gist of it:
Don't build castles in the air! Get feedback!
As Tyson said: "Everybody has a plan until they get punched in the mouth."
Simply Lovable content. Straight to Point.
This video is by far the best one amongst all others. Thanks a billion for such valuable information you shared.
What a wonderful intelligent follow is he....!!!! Love u man
Thanks, super insightful
So much intel packed into this 20 min session! Thank you Michael and Y Combinator ✌️
Startup is all about timing. Momentum. Building an MVP as soon as possible to validate its general idea is the best way to go. Failing is not the problem - failing slowly is the problem. One of the many keys to startup success is to fail FASTER, therefore learn FASTER how to adjust your product to its market.
Loved the idea and way you described mvp! Crisp and short
Thank you from Korea!!!
So much clear info !
an amazing human being. common sense in every word. )))
Fabulous, you are really ahead of your time. 🙂
This was so good! Thanks! Forget about the one big special launch! ... For real!
THis is great! Thank you Michael and Team!
Fantastic insights! Learned so much in such a short period of time! :-) 🙏
Amazing speech, thanks a lot sir!!!
'I'm him' ~ This video. This is the best mvp explanation I've seen by a mile.
Very good and concise. Thanks!
Ayyy, I was 'like' 888. Ps, what a boss this guy is. Mr. Concise to the MVP's rescue!
Great things said in very simple manner. Thanks for insightful video..
Love this guy! I am makin notes.
The fact this all is free, boggles my mind
Great job simplifying the concepts! I can't believe you covered so much ground in under 15 min.
This is amazing Michael
excellent! thank you a lot, michael!
The Q/A was useful.
This video is so great 🤣 I loved the bit about the screwdriver and the mechanic, it's so true!!
Thanks for great info Michael.
Thank you for such an informative lecture. You addressed several of the mistakes that I've made. Now I feel liberated to move forward.
Extremely helpful,blessings😀
This video is incredible
Thank you for this video!
fantastic. insightful & encouraging
Eye opener
Thank you! it was very detailed and informative.
No stupid questions, just people.. This guy is gold.
What a great talk!
Great video. I have been in love with the Big Vision I have, and was determined to leap frog a few steps 😳😅…But I’ve now finally succumbed to just creating something fractionally like the end solution…and just getting going on that!!
😀👊🇦🇺
Love you what the Advice 👏👏👏👏
God bless you!!!
Thank you for sharing
Thanks for the information! Great advice-?. 👍🏽
@Y combinator
Can you guys please upload the follow on questions in a separate video maybe ?
They were so beneficial and now they are gone from this video 😔😓
Hope it’s ok to do that, thanks for sharing this and thanks to Michael for all the help
Super Duper Awesome!! Michael straight and easy to understand as always!! Thanks!!
Hello to all future founders and best of luck everyone !