Financial Literacy Club
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Entrepreneurship · Lesson 3
Creating a Product
Part A. Vocabulary
Define each term in your own words.
Minimum viable product (MVP)
Part B. Guided notes
Fill in each blank using the word bank.
Word bank: compliments · measure · simplest · skipping
- MVP = the version that solves the problem.
- Build → test → → learn → repeat.
- Money is proof; aren't.
- Small doesn't mean safety or rules.
Part C. Check your understanding
Circle the best answer.
1. What's the main purpose of an MVP?
- A. To launch a perfect product
- B. To learn from real customers quickly and cheaply
- C. To impress investors with features
- D. To avoid talking to customers
Twenty friends say your product is "awesome." Two people pay for it.
2. Which is the stronger signal?
- A. The twenty compliments
- B. The two paying customers
- C. Both are equal
- D. Neither means anything
3. An app idea can sometimes be tested without writing any code.
True/False
Part D. Apply it
Show your work.
1. Which is the best MVP for a tutoring business? (a) a custom app, (b) a flyer, a sign-up form, and three trial sessions, (c) a website covering 50 subjects.
2. Name a measurable signal that your MVP is working.
Part E. Think about it
Answer in complete sentences.
1. What's the smallest possible version of a business idea you have?
2. Why do founders often wait too long to show their product to customers?
Exit ticket
Name
Why is money stronger proof than compliments?