Problem: We want to begin releasing features of our product sooner rather than later
Solution: Build the MVP (Minimum Viable Product)
You may feel comfort in overbuilding your first launch due to a fear of under building – you want to know your product is compelling enough for your users, that their idea won’t fail, and that everything is perfect.
The issue is that overbuilding doesn’t guarantee you’ll have a great product/service that customers want, and it can increase potential failure rather than assessing and combating it. Building extra features on top of your core product may cloud the value proposition and complicate the initial user experience for early adopters.
Starting with an MVP, even when it goes against your instincts, will actually improve a product’s chance of success as it brings focus to the product’s core value proposition and efficiency to the process. It can also create relationships with your customers as soon as possible.
Case Study: Hotjar founded their complex toolset through their MVP. They put together a document of the function of each feature and what it needed to do to fulfill the acceptance tests before release. Here is an example of how they documented their MVP:
Time: This can take a few hours to set up but will need to be assessed and updated weekly.
Results: You are fast and responsive to the changes you need to make and issues you need to fix. 32% of users are lost early after launch. Minimise this loss by being able to quickly enhance your product and get new versions out.