Building an enterprise-class product requires scalability as a key component from the day the product is envisioned. In general, product managers tend to focus on their MVP with no idea of scalability.
With over 40 million monthly users, Uber’s journey has been spectacular. So much so, that other startups now aim to be the next ‘Uber’ of the industry they cater to.
The Minimum Viable Product (MVP) is a product which has just enough functionality to validate the underlying assumptions, test and learn about the target market and plan for the next evolutionary functionality for its continued development. Incidentally, most founders confuse the MVP with either a prototype or a full-blown product and fail to find the right balance between the two.
Many of you may know what a minimum viable product (MVP) is. It’s a powerful basic model that explains what your product does and why prospects should buy it. So in a way, MVP teaches you how to build good, sustainable products.
Innovify will be a trustworthy and creative partner you on your road to success. They will suggest ideas, they will help you focus on and improve your business, they can manage all your technology needs and they are generally very good to work with on a day to day basis.
The product talk hosted by Innovify saw a great participation in the second meet up on November 9th, 2015 at Just Eat, London where we discussed the importance and challenges of delivering a Minimum Viable Product (MVP).
It’s a big mistake to wait to publicly launch the product once it’s perfect. For example, startups spend (or waste) time and money building features which are the least important against the value proposition and delay the Go-To-Market date.
It’s surprisingly common that startups don’t carry out enough research to back up the hypothesis around their idea. At times, they completely misunderstand the value proposition on which they build their product. In simple terms, they try to solve a problem which doesn’t exist or can easily be solved with alternative solutions.
You have that Eureka moment when you realise your creative idea has the power to change the world. However, only few of us are able to successfully execute them and that makes all the difference.