#2 Priority: Build an MVP

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  • Your idea probably has 1 million different features that you could add
    • But do customers care about all of these?
    • You shouldn’t build what isn’t absolutely necessary.
  • What is an MVP?
    • Minimum Viable Product = the minimum set of features that a customer is willing to pay for
      • It is the simplest thing you could possibly build to solve your customers’ problems
    • Your job = to find out which features are the most important – to find the core value your product provides
      • Your MVP should be simple and functional
        • Make sure you have a really good reason for adding each feature
        • Start with your number-one problem
          • What are you solving?
          • What do you need to build in order to fix that?
        • Why is it important?
          • The goal = to test our “educated guesses” about how we think our product is going to look and why our customers will buy.
          • We will be taking it with us as we approach our customers to see if our product actually solves their problems.
          • Continuously talk to your customers, watch them interact with your product, ask them questions about how it could be improved, and then go back and make your product better based off your feedback.
            • This is your #1 priority in the early stages.

Read our blog post on this topic here

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Next Lesson: Who is My Customer?

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