Can We Learn Something About Product Development?
I like the concept of the minimum viable products that enable entrepreneurs to bring the product on the market and continuously improve and develop according to the customer’s desires. As you can see we talk about products developed for customers, not the entrepreneurial desires or the initial business idea.
Each business idea is the dream of an entrepreneur. Ideas are based on hypotheses that are not yet tested or proved that will work. In the past one of the basic tools for entrepreneurs to try testing the hypothesis was making a business plan where they put the results of market research and based on them, they make an assessment about the demand. But, today it is a time-consuming job that again will not give us 100% accuracy that everything that we put in the business plan will be the same in the implementation process.
On the other side, we need data about the acceptability and feature needs as soon as possible if we want to have the products that will satisfy the market. Can we start building something from nothing and put on the marketplace with the minimum required features to find approved information for our future directions in the development cycle?
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