โกย This the anti-thesis of building an MVP: ๐ต๐ถ๐ฟ๐ถ๐ป๐ด ๐ญ๐ฑ๐ฌ ๐ฝ๐ฒ๐ผ๐ฝ๐น๐ฒ ๐ฒ๐๐ฒ๐ป ๐ฏ๐ฒ๐ณ๐ผ๐ฟ๐ฒ ๐๐ต๐ฒ ๐น๐ฎ๐๐ป๐ฐ๐ต ๐ผ๐ณ ๐๐ต๐ฒ ๐ณ๐ถ๐ฟ๐๐ ๐๐ฒ๐๐.
I heard this story recently and couldnโt believe my ears: a company plans to launch a new business model. In a city that doesnโt really make sense for that business model (but because senior management lives there). ๐ช๐ถ๐๐ต ๐๐ต๐ฒ ๐ฎ๐บ๐ฏ๐ถ๐๐ถ๐ผ๐ป ๐๐ผ ๐ฏ๐ฒ ๐ฝ๐ฒ๐ฟ๐ณ๐ฒ๐ฐ๐ ๐ณ๐ฟ๐ผ๐บ ๐๐ต๐ฒ ๐ด๐ฒ๐ ๐ด๐ผ. Under the main enterprise brand.
There was not even an initial small scale test done under a different brand first to learn something about the business case or service market fit first.
Instead over the course of a few years 150 people were hired into the new unit and the perfect (on paper) organisation was built.
๐ฆ๐น๐ผ๐๐น๐ ๐๐ต๐ฒ๐ ๐ฎ๐ฟ๐ฒ ๐ด๐ฒ๐๐๐ถ๐ป๐ด ๐ฟ๐ฒ๐ฎ๐ฑ๐ ๐๐ผ ๐น๐ฎ๐๐ป๐ฐ๐ต ๐น๐ฎ๐๐ฒ๐ฟ ๐๐ต๐ถ๐ ๐๐ฒ๐ฎ๐ฟ ๐ฎ๐ณ๐๐ฒ๐ฟ ๐ถ๐ป๐๐ฒ๐๐๐ถ๐ป๐ด ๐บ๐ถ๐น๐น๐ถ๐ผ๐ป๐ ๐ณ๐ถ๐ฟ๐๐.
Itโs 2023 and this is still happening.
The solution is simple:
- understand the customer need first
- build an MVP to test how you can deliver value to the customer
- understand your business case and path to profitability
All this can be done for under 50kโฌ.
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