MVP (Minimum Viable Product)
23 Mar, 2015 | minimum viable product, mvp
"If you are not embarrassed by the first version of your product, you've launched too late."
- Reid Hoffman, founder of LinkedIn.
The first step for any person, who comes up with an idea, is that they spend months on intensive research. They will develop a prototype, market test it repeatedly, and iterate the design until all possible defects are removed. But there's a downside to preparing for months for a business launch, and people are learning that the hard way.
A start-up can easily become stuck in the cycle of testing, refining and re-testing a product. But, if it releases the product and refine it regularly based on customer feedback, then it exits the loop and begins to grow gradually.
But why hurry?
Why you shouldn't keep working on our product until YOU think it has all the features, to solve the user's problem?
Never forget, the customer is always right.
The longer you take to put your product in front of real users, the longer you take to start getting feedback from real people to know if you're on the right track. And what's even worse, you'll probably be too many steps in the wrong direction.
Image Courtesy: Makeameme.org
Don't overthink it | Why Hurry? | Right time to launch the product
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