Is your MVP really just your product?
This is the most common founder mistake when creating minimum viable products (MVPs).
In fact, the term “MVP” itself is so dangerous that we prefer an alternative.
Here’s the reality of most MVPs: Minimum Viable Product
After backing more than 100 first-time founders, I can say with confidence that most people ignore “minimum”and “viable” and go straight to product.
They love their idea.
They’re certain it’s a winner.
They… just… need… to… build it.
It’s scary how much belief we can have in our own ideas.
And it’s not only first-time founders.
I’ve seen second- and third-time founders do exactly the same, and I’ve done it myself.
(In fact, serial founders can be even more susceptible, because their previous success can give them a false sense of certainty.)
What’s important here is:
Minimum – what’s the cheapest possible way of creating meaningful proof?
and
Viable – what are you actually proving?
At DQ, we prefer the term “minimum viable business” because, unless you’re delivering value to a customer for which they pay you something, you may not be proving viability at all.
Build a business, not a product.
