Creating an MVP without burning all your cash
Do you know why most start ups fail after investing hundreds of thousands of dollars on technology?
The answer is simple. There are no customers willing to pay for it. Despite of having flawlessly executed, the product was not validated.
As an entrepreneur, we all feel the rush to start moving fast, grow, acquire customers. But, there are corners that shouldn’t be cut.
The validation process is key, the foundations of the company are built based on the information gather on that phase.
Not spending enough time ensuring the customers are willing to use your product and that you will be able to monetize it result in failure.
The solution to this problem
There are many approach to validate a business or idea, like lean canvas or many others.
Although, I strongly believe the fundamental to create a successful product does not rely on a methodology. In fact, is all about hard work.
All the start ups which I worked with during my professional life that got graduated and scaled, had one common factor. The owners did all the value generation process manually at the beginning, task such us: sales phone calls, customer service, working with spreadsheets, unloading boxes, everything.
Obviously this can appears to be a wast of time for most entrepreneurs, still is the best way to validate the business and ensure to know which is your value proposition, your customers and how to build a business around it.
My last recommendation
If you are about to start a new business I strongly recommend you to read the following post before spending a single dollar on it: Link
In case you have any questions, or you want to get an advice, you can contact me directly to firstname.lastname@example.org
Hope this information is helpful to any entrepreneur trying to start a new product.