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Great Products Aren’t Necessarily Successful, Lasting Businesses
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Sometimes You’re Just the Ice Breaker Who Does all the Work for The Next Guy
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How MVP Falls Short…
Revenue: Media companies often can’t test at low volume
CAC: Usually artificially low or high at launch
Market: Early adopters may give false estimate of size
Competition: Little indication from established players or new entrants
Team: Concept ignores evolution of skills that may be critical for long-term success
Finance: Even with positive market test, access to capital may be critical component to win, esp if making a market
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Enter MVB…
A series of non-product research aimed at validating the probability of organizational success
Revenue/CAC: investigate pricepoints, marketing at scale
(eg., interviews with larger, established players)
Competition: approach potential strategic partners early(if they’re going to steal the idea, better to know now….)
Team: if there are identified key gaps that are too early to fill, seek to recruit talent as advisors or keep close a hand
Finance: get high-quality, part-time CFO & speak with later stage sources of capital early to forecast requirements, social opportunity
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If You’re Going to Fail, Fail Early…
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Make a Dashboard Combining MVP & MVB
Here’s an example for a SAAS company using channels that should expect viral marketing from using the product:
Category 12/31/12 3/31/13 6/30/13 9/30/13Target MRR
Min MRR
Total Partners
Threshold Partners
Referrals from End Users
Cash
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