S7 E8 Be sure your business will make money before you launch – Test your hypothesis; launch your minimum viable product with Jeremy Gray

Episode 8 Test your hypothesis; launch your minimum viable product.

The Minimum Viable Product evolves from the Lean Start Up Theory.

Which espouses the fail early philosophy.

MVP is the first working version of a product, with just enough features to satisfy potential clients and collect & analyse their feedback for the next product version, with minimum effort and resources required. The next, complete product version is developed after elaborating on the initial user feedback.

A minimum viable product is not an MVP until it sells.

Example of an MVP – Amazon;

Most people know that Amazon began as an online bookstore. You may be unaware, though, that Jeff Bezos started out by buying books from distributors and shipping them to customers every time his online store received an order. The high book sales meant it made sense to keep adding more products to the store, then acquire warehouses, and finally provide each user with a personalized experience on the website.

The virtual MVP.

Build a landing page – test advertising to direct traffic to your site. Include a price and a buy now button. This does not go to check out but to a page that explains the situation and suggests the view leaves an e-mail address

Validates that people are willing to part with their cash to acquire your product.

No money to build an MVP or pay for advertising? Consider content marketing. Write a blog with content that your target market might find interesting. Using the knowledge of learned about where your customers hang out – post messages etc directing folks to your blog. There is no substitute for research. It can be frustrating when you just want to get up and running.

But more haste less speed. The steps covered in this series Is there a demand for my product can help you avoid the second leading cause of failure for startups; No one wants your product

Tags: how to launch a product, launching your product, product launch plan, product launch, product launch formula, marketing strategy, IBGR,network, Jeremy Gray, Practical Solutions to Difficult Problems

I am committed to helping entrepreneurs succeed. I can bring the experience of 30+ years of experience at the C-Suite level in an MNC from Europe, North America, and Asia. Combine this with seven years of helping a diverse range of businesses and I can provide you with practical solutions to any difficult problems you may be facing.

Please do not hesitate to contact me for chat via the following links: mailto:jeremy@business-in-asia.org

Or schedule time via Calendly: https://calendly.com/3-continents-consulting

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​My LinkedIn URL https://www.linkedin.com/in/jeremy-gray1