Minimum Viable Product

What is the most common failed start ups encounter after launching their product?

“No body wants what you made!”

So how then do we as innovators that have identified a market, a need, and a passion to solve the problem go about making sure your future customers want what you make?

It’s what Eric Ries calls in his book The Lean Startup, the MVP – Minimum Viable Product.  What this means is that you can not spend any significant amount of time and money developing your product in a vacuum.  You need to get out of the building, out from behind your computer, out in the world you are trying to impact and show your potential customers your idea as quickly as you can.

Ries goes on to discuss a scientific system to incorporate into every aspect of your business to ensure success.  And what is success to a startup?  A customer that is willing to pay you for your product.  A customer that falls in love with your product.  A customer that keeps using your product.  A customer that by using your product adds immediate value to their business – and ultimately adds value to their customers.

This is what we have experienced since following The Lean Startup system:

  1. Customers thought our already simple product was not simple enough
  2. Customers do not sit in front of their PC for 8 hours a day using our application
  3. Customers do use their smartphone 24 hours a day for business and personal reasons
  4. Customers do not want to go looking for important information about their business
  5. Customers do not want more features than they need, want, or use
  6. Customers will not tell you what they need, want, or use because they don’t really know themselves
  7. Customer behavior will tell you what they need, want, and use because you can see through analytic data mined from your platform

Getting the product in the customer’s hands is most important.  Only then will you know if your product – and more importantly your reason for existing – is inline with what your customer are willing to pay for.

Are you ready to find out if your great idea can be a viable product that drives revenue for your new company?  Then launch your product today and see if your customers agree.