4/5 startups fail due to avoidable reasons. Build an MVP, and avoid the company graveyard.
When starting a new business venture, diving right in and getting started on your big idea immediately can be tempting. However, as many entrepreneurs have learned the hard way, this approach can often lead to expensive failure and decades of wasted time. That's because in order to make your idea successful, you need to build an MVP – a minimal viable product – that will allow you to test your concept and determine if it has real potential for success.
The principles of MVPs are a cornerstone in the lean startup methodology and offer a practical framework for building a bare-bone version of your product that can get you to the next validation stage.
With a lean startup approach, you start by focusing on product market fit and determining if there is an actual demand for your product before investing significant time and resources in its development. You also begin testing early – with prototypes or at least dummy data – in order to identify any flaws or issues that might need to be addressed before you launch.
1. Running out of cash/Fail to raise capital.
2. No demand for the product.
3. The company got out-competed.
4. Flawed business model.
5. Regulatory/legal challenges.
These are the top 5 reasons for failing companies, and our MVP framework protects our clients against them all.
We'll take you through various aspects of your initial concept so that we can locate apparent shortcomings.
We'll take you through various aspects of your initial concept so that we can locate apparent shortcomings.
Our experts will dive in, understand your core value proposition and help you evaluate if you're ready to take your product to MVP.
Our experts will dive in, understand your core value proposition and help you evaluate if you're ready to take your product to MVP.
We will take a structured approach to the core value proposition and evaluate what or which main issues you're testing with your target audience.
We will take a structured approach to the core value proposition and evaluate what or which main issues you're testing with your target audience.
The pricing strategy is essential to understand, evaluate and get right so we know how and what the target audience intends to spend with your product.
The pricing strategy is essential to understand, evaluate and get right so we know how and what the target audience intends to spend with your product.
We will assist you with defining the target hypothesis and conclusion of your MVP. What are the goals, and what happens if the goals are not met?
We will assist you with defining the target hypothesis and conclusion of your MVP. What are the goals, and what happens if the goals are not met?
Once the concept and goals have been defined, we'll assist you in determining the scope and size of your MVP.
Once the concept and goals have been defined, we'll assist you in determining the scope and size of your MVP.
We know all the latest tech, so you don't have to. With our help, we'll steer you clear of expensive developers, and unagile tools, that will cost a fortune to maintain.
We know all the latest tech, so you don't have to. With our help, we'll steer you clear of expensive developers, and unagile tools, that will cost a fortune to maintain.
We'll help you research your competitors and understand what we can learn and copy from them before we build our MVP.
We'll help you research your competitors and understand what we can learn and copy from them before we build our MVP.
We will provide the blueprint and structure for your first product deck, so you can quickly build a great deck on top of the form of hundreds of successful product decks.
We will provide the blueprint and structure for your first product deck, so you can quickly build a great deck on top of the form of hundreds of successful product decks.
Based on the chosen tools and technologies, we'll assist you in designing a great preview of your MVP
Based on the chosen tools and technologies, we'll assist you in designing a great preview of your MVP
We can assist with development and project management or recommend external vendors that match your budget.
We can assist with development and project management or recommend external vendors that match your budget.
Based on the chosen technologies, we can recommend builders that can build your MVP at great rates. We can also take it off your hands at prices depending on the final scope.
Based on the chosen technologies, we can recommend builders that can build your MVP at great rates. We can also take it off your hands at prices depending on the final scope.
With our project plan, you'll be able to treat your MVP project like a checklist of all the things you need to remember. Following the project plan from start to finish will ensure that nothing is left forgotten and maximizes your chances of an excellent MVP product.
With our project plan, you'll be able to treat your MVP project like a checklist of all the things you need to remember. Following the project plan from start to finish will ensure that nothing is left forgotten and maximizes your chances of an excellent MVP product.
We will assist you in connecting the dots and bringing everything together so that you can focus on the essential things in your future business.
We will assist you in connecting the dots and bringing everything together so that you can focus on the essential things in your future business.
Feedback and testing are two critical components of great MVPs.
Feedback and testing are two critical components of great MVPs.
Once your MVP is done, we'll provide critical feedback before you show it to potential investors and clients.
Once your MVP is done, we'll provide critical feedback before you show it to potential investors and clients.
There's no easy way to put it. So we'll say it as it is: We should always expect things to break during the early stages. We'll assist in providing testing and iteration feedback to the person who builds the MVP, even if this person is ourselves.
There's no easy way to put it. So we'll say it as it is: We should always expect things to break during the early stages. We'll assist in providing testing and iteration feedback to the person who builds the MVP, even if this person is ourselves.
With our assistance, you will know how much your MVP will cost to build before you build it.
With our assistance, you will know how much your MVP will cost to build before you build it.
Building an MVP costs money. After our engagement, we will provide you with an estimate of the cost of building the MVP from start to finish.
Building an MVP costs money. After our engagement, we will provide you with an estimate of the cost of building the MVP from start to finish.
A robust financial model will ensure that your MVP modeling and forecasting numbers are sound so you don't face unpleasant and surprises later on.
A robust financial model will ensure that your MVP modeling and forecasting numbers are sound so you don't face unpleasant and surprises later on.
With our extensive catalog of potential investors, we can evaluate your MVP and provide investor introductions if it makes sense for you and the investor.
With our extensive catalog of potential investors, we can evaluate your MVP and provide investor introductions if it makes sense for you and the investor.
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