Task: Features to drive key metrics

Required Question

What are other features that you need to build in able to optimize the key metrics above?

Again, think carefully about what features are must have’s, and what are just good to have’s for your MVP. Your MVP should have very minimal features – ones where it fulfills the promise that you made to your customers.

The difference between key features and "other" features are that the key features should be the main feature that your customers use to fulfill the UVP. However, some additional features might be required for the key features to work.

Example: A social news website where a user can personalize news has the key feature as customizable news. However, if the MVP of this service actually isn't able to allow the user to see personalized news the first time thie user logs in, then while the MVP has the key feature, it actually fails to deliver the UVP.

Therefore, what this service should have also built along with the key feature are some onboarding features that instructs the users to submit their preferences the first time they log in, so that right after preferences are submitted, they are then directed to see their page of personalized news on their first visit, which then delivers the UVP successfully.

Features or functions that drive key metrics are not all necessary initally. These features also might or might not overlap with the key features. Focus on fuctions that will help you drive Activation, and Retention.

There are many key metrics that drive Acquisition and Revenue that are super important later on (after you validate your MVP), but they are usually not necessary in such an early stage. And you don't have to worry about Referral, which are features that will allow your users to share your content with social networks like Facebook and Twitter.

Note: Only worry about growing users after you have validated your MVP/solution with your early adopters.

Examples for MVP Features for StartitUp:

Example of mandatory key metrics for MVP: # of early adopters, # of tasks completed per startup, # of feedbacks

Examples of corresponding key features: beautiful landing page, startup guide, feedback/contact us, onboarding features to help a user use our guide easily on their first login

Example of key metrics that are not needed initially: # of users, # of collaborators, # of mentors

Example of corresponding features that are optional at this stage: referral/social share, collaboratable guide, mentor listing board, dashboard, startup stats, startup analytics, etc.