Have you launched a minimum viable product for your business? What exactly qualifies as and defines a minimum viable product? What are the questions you need to ask yourself during the process?
A minimum viable product or MVP is one of the most established ways of getting a new business off the ground. By design, the framework allows a business owner to start small and get the most out of this production process. We at Fizzle are all in for MVPs, but how to pull them off to your best benefit, you ask?
In this episode, we are tackling that exact question and helping you unpack how to create, deliver and promote your MVP. This means research, ideas, production, and follow-through, we cover it all!
We also give helpful examples of minimum viable products and what these show us in terms of pre-game and follow up, notably emphasizing the longevity that is possible with an MVP. Remember, once it is launched it is not necessarily on to the next thing!
So for all you entrepreneurs out there, young and old, seasoned or fresh, gather round as we break it down!
Key Points From This Episode:
- Looking at different minimum viable products across industries and markets. [0:06:38.1]
- The opportunity that MVPs offer your business. [0:08:51.3]
- Chase’s example of an MVP from his wife Mellisa’s business. [0:10:31.2]
- Reflecting on Mellisa’s strategy and the usefulness of pre-selling. [0:15:25.6]
- What comes after you have completed your MVP? [0:21:10.6]
- Doubling down on what you already have in your business. [0:24:20.4]
- Why you do not always have to ask ‘what’s next’ immediately. [0:29:01.3]
- What else to pursue after launching your MVP and your season of promotion. [0:31:02.5]
- Using an MVP primarily as a mechanism for customer feedback. [0:34:10.2]
- The actual launch of an MVP and assessing its success. [0:36:47.2]
- Compiling the qualitative and quantitative data that an MVP launch offers. [0:39:40.8]
- The initial step, where the rubber hits the road! [0:43:40.5]
- And much more!
Links Mentioned in Today’s Episode:
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The Top 10 Mistakes in Online Business
Every week we talk with entrepreneurs. We talk about what’s working and what isn’t. We talk about successes and failures. We spend time with complete newbies, seasoned veterans, and everything in between.
One topic that comes up over and over again with both groups is mistakes made in starting businesses. Newbies love to learn about mistakes so they can avoid them. Veterans love to talk about what they wish they had known when starting out.
These conversations have been fascinating, so we compiled a list of the 10 mistakes we hear most often into a nifty lil’ guide. Get the 10 Most Common Mistakes in Starting an Online Business here »