⚡ This the anti-thesis of building an MVP: 𝗵𝗶𝗿𝗶𝗻𝗴 𝟭𝟱𝟬 𝗽𝗲𝗼𝗽𝗹𝗲 𝗲𝘃𝗲𝗻 𝗯𝗲𝗳𝗼𝗿𝗲 𝘁𝗵𝗲 𝗹𝗮𝘂𝗻𝗰𝗵 𝗼𝗳 𝘁𝗵𝗲 𝗳𝗶𝗿𝘀𝘁 𝘁𝗲𝘀𝘁.
I heard this story recently and couldn’t believe my ears: a company plans to launch a new business model. In a city that doesn’t really make sense for that business model (but because senior management lives there). 𝗪𝗶𝘁𝗵 𝘁𝗵𝗲 𝗮𝗺𝗯𝗶𝘁𝗶𝗼𝗻 𝘁𝗼 𝗯𝗲 𝗽𝗲𝗿𝗳𝗲𝗰𝘁 𝗳𝗿𝗼𝗺 𝘁𝗵𝗲 𝗴𝗲𝘁 𝗴𝗼. 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.
𝗦𝗹𝗼𝘄𝗹𝘆 𝘁𝗵𝗲𝘆 𝗮𝗿𝗲 𝗴𝗲𝘁𝘁𝗶𝗻𝗴 𝗿𝗲𝗮𝗱𝘆 𝘁𝗼 𝗹𝗮𝘂𝗻𝗰𝗵 𝗹𝗮𝘁𝗲𝗿 𝘁𝗵𝗶𝘀 𝘆𝗲𝗮𝗿 𝗮𝗳𝘁𝗲𝗿 𝗶𝗻𝘃𝗲𝘀𝘁𝗶𝗻𝗴 𝗺𝗶𝗹𝗹𝗶𝗼𝗻𝘀 𝗳𝗶𝗿𝘀𝘁.
It’s 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 50k€.