Sustainable viable product: The next step
This post is by Associate Peter Hanschke, an Ottawa-based product management specialist. Peter’s post is part of our continuing series about the ecosystem necessary to bring technology to market. We welcome your comments.
By Peter Hanschke
Up until now I’ve talked about getting to your Minimum Viable Product (MVP) and creating your Market Validation Plan. To re-cap, MVP is your product with the minimum set of features and capabilities to satisfy the needs of your early customers. The key is to make sure that the features and capabilities are connected to provide use cases that address the needs of your target market. In other words, your MVP cannot be a disjointed set of features.
The Market Validation Plan is needed to provide a framework to get validation from the various markets you are targeting. Make sure that you include potential customers, analysts and experts related to your target markets and also others who sell non-competing products and services to your target markets. Asking “would you buy this” and “how much would you pay” are essential questions to have answered. (BTW – don’t be shy about asking for an order … you may end up with your first!)
