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Tarun Suthar

CA Inter | CS Execut...ย โ€ขย 3m

How to build an MVP (Minimum Viable Product)? โœ…๏ธ The goal of an early-stage founder should be to quickly get a product into the world. It's more effective to launch something quickly and iterate based on user feedback than to spend a lot of time planning. โœ…๏ธ An MVP is a starting point, not a final product. It's meant to begin the conversation with users and see how you can solve their problems. It is not necessarily going to work perfectly. โœ…๏ธ Talking to initial customers and iterating the product is crucial. You should focus on how to help customers achieve their goals and be willing to change the product based on user feedback. By letting users see the product evolve, they become more excited, more likely to use it, and more likely to pay for it. โœ…๏ธ Early adopters are crucial for testing MVPs. They are usually willing to use products that don't work perfectly and are more open to working with you to improve it. โœ…๏ธ Fear of customer rejection should not prevent launching an MVP. A company does not die if the first customer doesn't like the product. It is more important to learn by putting an MVP in front of customers than to wait to launch a perfect product. โœ…๏ธ It is a misconception that great products are made without iteration. Even Steve Jobs iterated on his products like the iPod and iPhone over time. โšกMVPs should be: ๐Ÿš€Fast to build. ๐Ÿš€Have limited functionality. ๐Ÿš€Appeal to a small set of users. โšกExamples of MVPs: ๐Ÿš€Airbnb started with no payments, no map view, only airbeds, and only worked for conferences. ๐Ÿš€Twitch started with one page, one streamer, limited content, and was expensive. ๐Ÿš€Stripe started with no fancy bank deals, manual paperwork to set up accounts, and very limited API features. Early adopters should be people who have a desperate need that your product can solve, even if it's a "crappy" solution. These customers have "their hair on fire" and will be willing to use a brick if that is the best you have to offer at the moment. Surveys are not a substitute for building an MVP. Customers are experts in their problems but not in the solutions, and a survey won't help you solve those problems. You have to put something in front of the user to start a conversation about a solution to the problem. The best parts of successful products were often discovered after they launched. Building and launching an MVP is the fastest way to learn and increase the likelihood of building something people will love. โšกTips for quickly building an MVP: ๐Ÿš€Give yourself a specific deadline. ๐Ÿš€Write down the features you think you need. ๐Ÿš€Cut the features that are not absolutely necessary for the most desperate customer. ๐Ÿš€Don't fall in love with the MVP, because it will change. It's better to have a small group of people who love your product than a large group who only kind of like it. It's okay to do things that don't scale to recruit those first customers.

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