It takes a lot of motivation to build a digital product or develop a business idea tailored to current customer and market requirements. Lean startup methodology did not come from nowhere, but is the application of proven Lean methods and principles to guide the creation of a brand new business. Lean startups follow a series of steps to test, build, measure and learn as they go.
The creation of a business model is a work in progress as the team verifies and rejects hypotheses, gathering customer sentiment in one place and drawing appropriate conclusions. The methodology was first outlined in Eric Ries’ 2008 book. Until now, the project has been the realisation of previous assumptions, business plans and research, now the project, according to lean startup methodology, evolves with the real reception of the product or service in the market.
What is this technique based on?
As the concept moves into production, the company quickly iterates and redesigns the product to meet market needs. Following this trial and error process greatly increases the likelihood that the company will create a product that people are willing to pay for.
By repeatedly testing and validating your product ideas with your target audience, you can improve your product with the most efficiency and the least effort, reducing the risk of falling into a dead end. In other words, test first before you invest. The minimum viable product strategy was created to help new products land hard.
The MVP is a key element in the process, used to immediately solicit customer feedback and revise assumptions. Without the MVP we cannot talk about a properly functioning Lean startup methodology.
MVP should not be confused with the concept of cheaper and inferior solutions. It is a pre-release product ready for testing.
MVP focuses on the nature of the function or problem that the application is supposed to solve. Applications at the MVP stage usually lack any functionality that is considered additional or optional.
For example, if the purpose of the app is to provide an exchange for express service delivery, the MVP may omit features such as tracking the shipment on a real-time map or logging in with a Facebook account.