One Startup’s Bid to Take its Product from ‘Minimum Viable’ to ‘Habit-Forming’ in 18 Months
This post is designed to provide, in a single writeup, an overview of some of the more valuable product development constructs and frameworks, particularly for companies attempting to launch a two-sided platform business or one aimed at leveraging network effects. Specifically, I’ll be covering:
- Minimum Viable vs Minimum Lovable Products — is there a difference
- Product-Market Fit — what exactly is it and determining if its been achieved
- Platform Business Model (network effects and critical mass) — how to overcome the “chicken and egg” and “ghost town” challenges when attempting to launch a platform business
- Habit-Forming Products — how to build them using the Hook…
Forget Crowdsourcing. ‘Trustsourcing’ is the Way to Go.
Have you found yourself recently with a group of friends around a dinner table, at a bar, or perhaps at work when the topic of TV shows came up? If so, it probably erupted into a passion-fueled conversation that may have gone something like: “Have you seen the latest episode of True Detective? Are you into Orange Is The New Black? I can’t believe you actually admit to watching The Bachelorette! How psyched are you for Fear the Walking Dead?”
These conversations are valuable because they lead to trusted recommendations from friends who either have similar tastes in (or a good sense of) the types of TV shows you enjoy, or who are in-the-know and can help you discover a great show that you’d have otherwise overlooked. …
One startup’s story of the challenges it faced in naming its app and creating a great brand identity and how it overcame them
Coming up with a strong name is a critical element of any new company or product launch. Together with a great underlying product or service, a great name, will serve as the foundation for building an amazing brand.
A couple of years ago I came up with the idea for a social recommendation app focused on entertainment. The app would allow you to share with your friends the one thing — song, movie, TV show or book — you were most obsessed with at that moment. It didn’t take long to settle on the name Recho for this product. …
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