Creating a minimally viable product (MVP) can take any form that suits your business idea. In some cases, it is a post-board with all of the information needed to explain the idea. In others, it is a physical markup of the idea. The goal is to bring your business idea to life and allow others to start to understand your idea. As most of us comprehend more visually, creating an MVP that reflects your business idea is the goal of the assignment.
Students can use any materials, tools, or sources to create an MVP. The MVP should represent the business idea or at least a component of it you want to test. This is a creative assignment as much as it is a methodology. Have fun with creating your MVP.
For the assignment submission:
a. Students can submit a picture of the MVP with a written description, a video narrating the MVP, or a slide deck with a picture of the MVP and the written narration.
b. The written narration should describe the business idea, the business model element being tested, and how you would test it with potential customers.
Follow the Grading Criteria attached below.
Complete each block of the Business Model Canvas (attached below) with sufficient details to explain each one. The assignment requires linking the different blocks and critical thinking. Please do not just copy another idea but work to innovate your idea. Lastly, the business model canvas should have a short summary of your business idea.
