Saturday, March 18, 2023

Lean StartUp: Develop an MVP, The First Step on Build-Measure-Learn Cycle

In the Lean Startup methodology, developing a Minimum Viable Product (MVP) is the first step. MVP is a simplified version of your product that you can quickly create and test with customers to validate your assumptions about the market and your product. The goal of your MVP is to learn from customer feedback, refine your product, and avoid wasting resources on building features that customers don't want or need.

These are the key steps involved in developing your MVP:

Identify your core value proposition

What is the key value that your product offers to customers? What problem does it solve? Focus on the essential features that make your product unique and valuable.

Define the scope of your MVP

Determine the minimum set of features and functionality that you need to build to deliver your core value proposition. Your MVP should be simple and focused, with just enough features to test your assumptions.

Create a prototype

Develop a prototype or mockup of your MVP. This can be a basic wireframe, a clickable demo, or a physical prototype. The goal is to create something that customers can interact with to test your assumptions.

Test with customers

Once you have a prototype, test it with potential customers to gather feedback. Use customer feedback to refine your MVP and make improvements.

Iterate and improve

Based on the feedback you receive, make improvements to your MVP. Continue to iterate and improve until you have a product that meets the needs of your target customers.

Launch

Once you have a validated MVP, you can launch your product to a wider audience. Use the feedback and insights you gathered during the MVP development process to guide your product roadmap and prioritize future features.

The MVP development process is designed to be fast, efficient, and focused on customer feedback. By creating a simplified version of your product and testing it with customers, you can quickly validate your assumptions and refine your product to meet the needs of your target audience.


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