Questions

Once an MVP is on, how long does it take to be sure my start up is successful and go to the next stage? Which number do I need to know it was success?

5answers

Product designer for 10 years. Chief product officer for 4 years. I've launched many successful and unsuccessful products over the years.

The quick answer is Revenue or Active Users – everything else is noise.

A more qualitative answer that I like is – talk to your initial users / potential customers. They should be willing to give you their:

1. Time – the problem you're solving is real, its painful to them, they are willing to take time away from other stuff to discuss it with you, you're promising a solution and they want that solution (ask them for a meeting to discuss).

2. Money – again, problem is real, real pain, worth their money to make that pain go away (ask them for $$$ / pre-order).

3. Reputation – problem is real, other people also have this problem, they believe in your solution and are willing to risk their reputation (ask them to refer you to one friend / colleague who would also like your product).

If you get "yes" on all 3 – party time.

If you get "no" on all 3 – start over.


Answered 5 years ago

It depends on what are you testing by launching MVP. MVP is use to run an experiment to test (validate / invalidate) business assumptions (Customer, problem, solution , channel ... assumptions).
If your are interested, I can share some material about MVP and validating business assumptions


Answered 5 years ago

If the business makes enough capital to scale up then you're on a right path. The capital may come in the form of revenue or investment. If it comes from revenue then you're absolutely on a right path. If it's investment backed then you're 50% there and much more needs to be done.


Answered 5 years ago

Hi...
It is not an exact number. It is what you are measuring..
First: make sure you start to have cash flow and REAL customers
Second: is this cash flow sustainable??
Third: when do you expect to reach a breakeven point? Is your MVP enough? Or future investment is needed? When do you think , based on current customers, you will be able to break even again the new investment?
Fourth: most important thing is Growth.. How do you plan to grow?
By more sales? Or improving efficiency? And is the growth sustainable ?
Is it a constant growth ? Or variable?

Also, reviews from customers and customer satisfaction for your MVP (paying customers) will be your 100% real guide, coz reviews most of the time give you false positives..

Good Luck!


Answered 5 years ago

1. MVP is starting point. The first iteration of many to come. Measuring success depends on what your are doing. It could be engagement, users growth, transactions, revenue, etc

2. Listen to your early users and continue to build the product as you get feedback. Make sure whatever you build the customer/user is something they want.


Answered 5 years ago

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