Why MVPs are dead?
There’s no such thing as a Minimum Viable Product (MVP).
You are a startup, right?
Why were you born? To solve some nettling pain-point.
So, you would know the full form of MVP.
The founding team does.
Or maybe not.
Most startups with their Product Development mode of operation launch products that ‘seem’ to solve the problems. You have made an initial product, developed your product hypothesis, mapped your assumed requirements and started building the product. You think you have done things the right way.
Well, that’s the problem itself.
Where is the value offered? 100s of products line up in the ‘space’ you operate in, with the same features and virtually the same interface; and I don’t understand the term ‘viable’ nowadays.
I think this term shall be taken down from an entrepreneur’s dictionary.
MVP stands for Minimum Valuable Product.
Yup, that’s right. Gone are the days when you launched a 5-page website and called it a product.
You can’t test your hypothesis through that 5-page Prod Dev model.
Through MVPs (*V for Valuable), startup founders learn and discover about customers and markets. If you are already entering an existing market, the only way you could be seen is by launching something that adds immediate value for customers rather than a viable product to calm your soul.
Only through an MVP (again, Valuable), your first problem of Customer Discovery gets solved. Hell with those 20%-features-solving-80%-customer-needs crap. You have to build at least 50% of the product to meet 50% of the customer needs.
That’s right, that’s the ratio.
So, build something valuable.
Feel free to share your thoughts. Follow me on Twitter or drop me an invite on LinkedIn, would be great to connect. I am back to doing what I do best. Living in the future and building something valuable.