Why Build an MVP?

By Linda Hale
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Here at UARF, we usually concentrate on problem validation and customer discovery. 
If you have participated in I-Corps or Starting Line, we generally ask you to think about what you do, who cares, and why they care. 
Then we ask you to interview potential customers to test risky assumptions about your customer's problems and motivations. And, if you've successfully completed the I-Corps program, you should have walked away with a good understanding of what it will take to motivate your customer to buy your product. 
 
Now what? How do you take your idea to the next level? ​

You may be tempted to open up a storefront, build a prototype, or create a web platform, but I'll argue that a Minimum Viable Product or MVP is a better next step. You want to test your early assumptions to ensure you create the right solution for the right customer BEFORE spending money on leases, or inventory or prototypes. 
 
An MVP is a version of a product or service with just enough features to be useable by early customers, who can then provide feedback for future development.  
 
A good MVP can take on many forms, but I suggest starting with these two: 
     1. Sketches or drawings that can be shown to a customer for immediate feedback (low/no cost for sketches, illustrations, etc.) Examples include: 

• A visual representation of your application or website 
  

• A visual representation of your actual product 
  
• A workflow map that shows how your product or service solves a problem for your customer. 
  
• A set of two or three social media posts or ads that target your product or service to the identified customer 
  
  2. Online or virtual promotions to test your assumptions with strangers (small cost for targeted design and social media boosts) Examples include: 
  
• Start a blog to inform potential customers about the problem 
  
• Make a YouTube video highlighting the problem you solve 
  
• Create a crowdfunding campaign to gauge interest 
  
• Upload a set of web landing pages to gauge customer interaction 
  
• Promote your set of two or three social media posts to learn how your target customer interacts with your product or service 
  

 
Benefits of an MVP include 

• Quick customer feedback – learn your customers' likes and dislikes within weeks not months 
  
• MVPs generate high ROI with low risk – Instead of building all features of your new product, ask users about their needs to save time and money before launching your product. 
  
• Learn which features are necessary and whicht can wait. Customers may only need 1 or 2 of features to solve their problem. 
  
• MVPs attract early adopters – this is the first group of people who will use your product. Once you recognize who the early adopters are, it will be easier to validate your product assumptions before you build or spend a fortune on a marketing campaign. 
  

 
No matter what you think you know about your product, solution, and customer, you need to find a way to test and validate your early assumptions before spending 10's of thousands of dollars developing the wrong product, platform, or marketing campaign. 
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Don't hesitate to reach out to the UARF team if you have questions about your startup or technology. We would be happy to discuss Minimum Viable Products or any topic that can help you progress toward commercialization. 
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For more information about our business startup resources, please visit our website - UARF - UARF Home (uakronuarf.com) 
Want to get a head start? Participate in our self-directed Starting Line Program while you wait for the fall cohort to start. Starting Line - UARF (uakronuarf.com)