Perfection Is a Myth: 5 Benefits of Launching an MVP
Trying to reach perfection before launching your product is the curse of a doomed startup.
In the startup world, specifically in the tech startup world, there is no such thing as the perfect version of the product. It’s a never-ending cycle of testing, collecting user-feedback, iterating to match the expectations of your users, then you test again and iterate again.
Soon after we launched Elwafeyat, we jumped into offering a wide variety of services to potentially appeal to all customers. Except it never did. When we went to Silicon Valley and started pitching on daily basis, we realized how messy our product was. To clean it up, we had to eliminate some of the key features that seemed indispensable at the time.
But how do you decide which features to get rid of when they were all of equal value to you? How do you eliminate a feature that your early investor likes?
At first, the product looked incomplete and we were not sure customers would see enough value in it. Then we noticed that this is how you are supposed to feel when you launch your MVP – which is the Minimum Viable Product that helps you jumpstart your learning process. So after almost a year of work and development, we took many steps back and started testing a much simpler version of what we initially thought was a perfect product. Then the magic happened.
Instead of learning the hard way like we did, here are five reasons to start quickly with an MVP to spare you the hassle of developing the so-called perfect product.
1. Focus on the core value of the business
You’ll be able to collect quick feedback, learn where to invest your time and effort and decide on which features to ditch early on.
2. Clearly define the target market
You’ll be able to segment your users and understand their similarities to tailor your product to suit their needs and build a strong relationship with them.
3. Communicate the right message to the right audience
When you decide on the core value of the product and the specific target market, you’ll be able to communicate one clear message that matches the product and the users across all platforms.
4. Collect quick customer feedback
When you communicate the right message, you will get better reach within your target market. With more segmented users, you receive better feedback from people who actually used the product.
5. Clear pipeline of technical and product development
Your messy product development will then become clear, much more efficient and you’ll be able to set your priorities straight.
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