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How An MVP Can Become Your Startup’s Gateway To Success
- Published December 14, 2022 4:52AM UTC
- Publisher Osama Hassan
- Categories Capital Raising Tips
These should be the immediate goals of a pre-launch startup:
1 – Launch quickly (get your market viable product (MVP) ready)
2 – Get initial users (traction)
3 – Talk to users and get feedback (establish market proof)
4 – Iterate (keep developing)
And it all begins with getting an MVP ready.
You may ask, what is an MVP?
Think about it this way: it’s something ridiculously simple, which is the very first thing you give to the very first set of users you want to target, in order to see if you can deliver any value at all.
Easy!
In most industries (medtech and biotech are exceptions) getting an MVP ready should not be super difficult.
In most cases, you can get a lean MVP ready in a few weeks. Though it may have limited functionalities and might only appeal to a small set of users, it gives founders the base to iterate (and develop further) from.
To quote Y Combinator‘s CEO Michael Seibel:
“Hold the problem you’re solving tightly, hold your customer tightly, but hold the solution you’re building loosely.”
For budding entrepreneurs, before thinking of raising capital and approaching investors, make sure you’ve got some kind of an MVP ready, some traction and some evidence of market proof.
Trust me, it will help and really demonstrate initiative to investors.
✌️
Click here to view the original Linkedin post.
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