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Showing posts with the label Product Launch

What is the Minimum Viable Product? - A Guide on What MVP Means

When you have a business idea, there's a high degree of certainty that the idea is not perfect. And, that's why you need to test it out in the real world. Well, there are numerous ways for testing your ideas - for example, you could create a proof of concept, a prototype or even an MVP and show it to your target audience and get their feedback. MVP is short for minimum viable product. Although it has product in its name, it could well be a service as well. An MVP is the most bare-backed feature stripped model of your business idea that you can sell to your audience initially. That's why it is called "minimum viable". It has the minimum necessary features so as to be viable for your audience. What is the Minimum Viable Product - The Basics A minimum viable product (MVP) is a Lean Startup concept that emphasises the importance of learning in new product development.  An MVP, according to Eric Ries, the founder of the book, Lean Startup, is the version of a new prod

How to Do Market Research: A Definitive Guide

What's the one common thing that's ruining startups and businesses worldwide? Hint: Not doing your due diligence (aka market research) before jumping into the fray. We, here at WinSavvy, are a startup consultancy. We often work with startups handling their mundane tasks like marketing and legal complicances, while they can focus on developing their core product and service.  Over the years, we have stumbled across one common pattern. Most startups - and these are startups which are around 1-2 years old (and looking for funding or have just gone through seed funding and now are looking for venture capital) - they think they have a marketing problem. One - two year after they have released their product, they find that they can't find customers. And, they think it is a marketing problem. Now, we do have a market research service. We provide an in-depth study in finding out whether your product or service is wanted by customers or if the product you have made is suitable for