Creating a Product — slides
Financial Literacy Club
Entrepreneurship · Lesson 3
Creating a Product
Start small: build the simplest version that solves the problem.
12-minute lesson · learnwithflc.org
Creating a Product · 1 / 19
Financial Literacy Club
Entrepreneurship · Lesson 3
Creating a Product
Start small: build the simplest version that solves the problem.
12-minute lesson · learnwithflc.org
Today's goals
By the end of class, you'll be able to…
- Define a minimum viable product (MVP)
- Describe the build-measure-learn loop
- Explain why paying customers are stronger proof than compliments
Warm-up
What's the simplest possible version of a food delivery business you could run this weekend?
Think, then write your answer.
The big idea
Creating a Product
Start small: build the simplest version that solves the problem.
Vocabulary
Minimum viable product (MVP)
The simplest version of your product that actually solves the problem for real customers — so you can learn whether it works before investing a lot.
Entrepreneurship · Lesson 3
Many founders spend months perfecting something before anyone uses it. A better approach is a loop: build something small, put it in front of real customers, measure what happens, and learn what to change. Then repeat.
Entrepreneurship · Lesson 3
- A service can start with you doing it by hand.
- A physical product can start as a handmade prototype.
- An app can start as a simple form, a spreadsheet, or a group chat.
Entrepreneurship · Lesson 3
The strongest early signal is someone paying — or pre-ordering. Compliments are nice; money is proof.
Entrepreneurship · Lesson 3
Safety and rules still apply
Starting small doesn't mean skipping safety, school rules, or laws. Food, cosmetics, and anything for kids often have special requirements. Check before selling.
See it
Build a small version, put it in front of real customers, measure what they actually do, and learn what to change. Then start the loop again.
Build small
The simplest useful version
Test with real customers
Not just friends being nice
Measure
What do they actually do?
Learn & adjust
Then loop again
Real example
Marcus's first five pairs
Instead of buying expensive equipment, Marcus spends $40 on brushes, cleaner, and towels and cleans five pairs for friends — free, in exchange for honest feedback and before-and-after photos.
- Learned: people cared more about getting shoes back in 24 hours than about perfection.
- Learned: laces were the hardest part — he adds replacement laces as an option.
- Next test: he offers the service for $10 to ten classmates. Seven say yes and pay.
For $40 and two weekends, Marcus learned what customers value and got real paying customers. That's an MVP doing its job.
Activity · small groups · 12 min
Paper MVP
- Groups take a problem from an earlier lesson and sketch the simplest product that solves it — on paper, in ten minutes.
- Groups write one measurable test: what will they count, and what number means success? (e.g., “5 pre-orders from 30 students”).
- Groups name the one thing they'll learn if the test fails.
Check for understanding · 1 of 3
What's the main purpose of an MVP?
- ATo launch a perfect product
- BTo learn from real customers quickly and cheaply
- CTo impress investors with features
- DTo avoid talking to customers
B. To learn from real customers quickly and cheaply
An MVP tests whether you're solving the problem before you spend a lot of time and money.
Check for understanding · 2 of 3
Twenty friends say your product is "awesome." Two people pay for it.
Which is the stronger signal?
- AThe twenty compliments
- BThe two paying customers
- CBoth are equal
- DNeither means anything
B. The two paying customers
Paying is real commitment. Compliments cost nothing.
Check for understanding · 3 of 3
An app idea can sometimes be tested without writing any code.
- True
- False
True
A form, spreadsheet, or doing the service by hand can test demand before building software.
Remember
Key takeaways
- MVP = the simplest version that solves the problem.
- Build → test → measure → learn → repeat.
- Money is proof; compliments aren't.
- Small doesn't mean skipping safety or rules.
Discuss
Talk it over
- What's the smallest possible version of a business idea you have?
- Why do founders often wait too long to show their product to customers?
Exit ticket
Why is money stronger proof than compliments?
Answer on your exit ticket before you leave.
Nice work today.
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learnwithflc.org/courses/entrepreneurship/creating-a-product
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