Rethinking the startup MVP: Building a competitive product
12 days ago
- #product-development
- #startups
- #MVP
- The modern MVP is about building a better version of an existing idea, not validating a novel one.
- Today's MVP must compete in a saturated market, requiring higher quality and differentiation from day one.
- The original MVP concept focused on quick validation for novel ideas, but now it's about refining existing categories.
- Successful companies like Zoom and Slack IPO'd by refining existing ideas, not inventing new ones.
- The MVP process is a journey of iteration based on user feedback to achieve product-market fit.
- Narrowing your target audience is crucial to compete effectively with limited resources.
- Linear's MVP focused on ICs at small startups, solving specific pain points like issue tracking.
- Building a waitlist helps gather targeted feedback and refine the product before public launch.
- Testing user sentiment through interviews, questionnaires, and willingness to pay is key before launching.
- Public launch should follow demonstrable value and user feedback, with continued iteration post-launch.