MVPs are basic versions or product simulations that prevent an entrepreneur from building something for which no one may be interested.
No matter how much your entrepreneurial intuition tells you that you're right, a MVP is meant to say you may be wrong. And this is completely normal.
The concept gained popularity with the book A Startup Leaning, becoming one of the most popular methods for developing products and services.
In English, it means Minimum Viable Product, or Minimum Viable Product, in Portuguese.
The goal of a startup is to design new products and services under conditions of extreme uncertainty. That's why a MPV - or minimum feasible product - it is fundamental.
Because it supports the process of consumer discovery.
Creating an MVP is not to make a smaller version of your future product, but rather to walk the path Build - To size - Validate in the shortest time interval possible.
42% of startups do not solve a market problem
According to a report by CB Insights, 42% of startups do not solve a market problem.
And among the top ten causes of death for the new digital companies are:
- Lack of market demand
- End of money
- Weak time
- Prices that do not cover costs
- Unfriendly Product
- Lack of business model
- Weak marketing
- Ignores consumers
- Solution out of time
But these risks can be mitigated.
Anyone can create an MVP
You do not need to be a software engineer to to create an MVP. Just have some familiarity with technology.
As I said, the goal of an MVP is to find out if people are willing to pay for your offer. And for this you do not necessarily have to deliver the offer.
Here are five practical ways to create MVPs to validate your business idea.
Most effective way to discover customers. It is the traditional conversation that can be done individually or with a group. This group can be a base of users, friends, social networking groups, family etc.
Ask them how they solve a problem these days; what is the size of the pain generated by this problem; if they would use a solution that would facilitate this; and more importantly, would be willing to pay for it.
The cool thing about personal interviews is that they support the collection of qualitative data, those based on the interviewees' opinions.
2. Landing pages
Another practical way to validate a business idea. You can create a landing page to describe all the benefits of your product, how it will work, where it can be found, a price estimate, and so on.
A simple alternative to this may be the Google Sites.
Then you must generate traffic to this page. With visitors arriving at the destination, you can collect data.
See how much time visitors are spending on the address, use a heat map to see which points attract the most attention, which is the exit rate of the page.
Lastly, place a form for visitors to sign in to receive future information or a discount coupon for pre-purchase.
3. Email list
If you have an email list that you can relate to, you can use it to present your idea.
Try to be objective and clear. If your search is too long, people will not complete it.
Between 10 and 15 issues may be sufficient. Again, do not forget to ask if they would be willing to pay for your solution because free lunch everyone accepts!
4. Collective financing
This is a more practical way to validate an idea and make a product feasible without exposing itself to risk. To do this, simply create a project and publish on a collective funding site, such as Catarse, Vakinha or Kickstarter.
Vela Bikes started like this, with a campaign to collect R $ 35.000 no Catarse. Today, it is common to see the electric bikes of the brand through the streets of São Paulo.
Videos are great for presenting ideas. In addition to combining the power of image and sound, they facilitate understanding and arouse emotions. So capitalize on the script and the execution of your idea video.
After posting it on a platform, which may be YouTube or Video, I suggest incorporating it into a page with more details of your offer.
Lastly, I would also include a form in the base to collect opinions or email from those interested.
A cool MVP video case is Dropbox. The founders of the service published a demo and asked who would be interested. Within a few days, 70 got a thousand interested.
Now it's up to you. How do you want to present your idea to the world?