I once met a client who had spent thousands of dollars on another software agency to build a product, an MVP, without first validating his idea.
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The product failed, and the client was understandably upset. He told me that if he had just known that his idea wasn’t going to work, he could have saved himself a lot of money.
I agreed with him.
For that reason, I always recommend that my clients validate their ideas before they start building anything.
The best way to validate an idea is to create a minimum viable product, or MVP.
What is an MVP?
An MVP is a version of a product with just enough features to be usable by early adopters.
The key word here is usable. An MVP is not a prototype. A prototype is something that looks like the final product, but doesn’t actually work. An MVP is something that does work, but might not have all the features of the final product.
Why create an MVP?
There are 2 main reasons to create an MVP:
- The first reason is to save time and money. Building an MVP is much cheaper and quicker than building a full-fledged product.
- The second reason is to validate your idea. An MVP can help you determine whether or not your idea is actually going to be successful.
If you’re not sure whether or not your idea is worth pursuing, an MVP is a great way to find
What are the steps to creating an MVP?
There are four steps to creating an MVP:
- Define the problem
- Identify your target market
- Identify your early adopters
- Create your MVP
Let’s take a closer look at each of these steps.
1) Define the problem
The first step
2) Identify your target market
The second step is to identify your target market.
Who are the people who are most likely to use your product?
You need to be very specific here. The more specific you are, the easier it will be to find your early adopters (more on that in a minute).
For example, let’s say you’re selling a new type of workout equipment.
Your target market might be:
- Men aged 18-35 who are interested in fitness
- Women aged 18-35 who are interested in fitness
- Men aged 36-50 who are interested in fitness
- Women aged 36-50 who are interested in fitness
Once you’ve identified your target market, you need to find your early adopters.
3) Identify your early adopters
Your early adopters are the people who are most likely to use your product.
They’re usually the people who are most passionate about the problem you’re solving. For example, if you’re selling a new type of workout equipment, your early adopters are probably the people who are most interested in fitness.
The best way to find your early adopters is to go to where they hang
4) Create your MVP
Now it’s time to actually create your MVP.
Remember, an MVP is a version of your product with just enough features to be usable by early adopters.
It’s important to keep your MVP as simple as possible. The more features you try to cram into your MVP, the more expensive and time-consuming it will be to build.
Your MVP should have just enough features.
Building an MVP can be a great way to save time and money, and to validate your idea.
If you’re not sure whether or not your idea is worth pursuing, an MVP is a great way to find out.
The best way to create an MVP is to define the problem, identify your target market, and identify your early adopters.
Once you’ve done that, you can create your MVP.
Do you have an idea for a product? Have you considered building an MVP?