How To Create Most Valuable Product (MVP) For Better Traction

Nowadays, startups have to look beyond MVP and focus on gaining traction and product-market fit faster and cheaper. Few things to consider:

•          How to create a product that people want
•          How to gain tractions faster
•          How to keep the startup cost low and sustain longer
•          How to reduce risk of failure

The good news is more startups are bootstrapping and sustaining for longer time. Below are a few tips in creating a MVP that is aligned for better traction.

Find what customers want

When it comes to products, there are two approaches:

• Build a product and find suitable customers 
• Find customers and built suitable product

Many successful products are built using these two distinct approaches. For example, Apple created many products including the iPod/iPhone in secrecy and released it to the market. Customers quickly adopted it. In this case Apple, first create a product and found a market (product-market). Unfortunately, the kind of market adoption doesn’t happen easily without brand recognition. There are many successful products have failed to grab proper recognization and lost traction.

To avoid the pitfalls, a new alternative approach emerged, requiring to find what customers (market) want and build products that closely resonates with them. Read more

Source:  https://bit.ly/2D8GkHn