Why Minimum Viable Product (MVP) so crucial for Startups?

Facebook, Twitter, Dropbox, Airbnb have something in common – These company started with a Minimum Viable product (MVP). An MVP is the foundation for many successful companies. It helps you to start the learning process. Basically, it’s an initial version of developing a complete product. It’s released in the market to test – Acceptance, Viability and to solve core problems for the targeted audience.

Why Minimum Viable Product (MVP) so crucial for StartupsHow to make MVP a real caliber one?
Many startups spend months in building and perfecting a product without testing in the market. They fail to measure product feasibility, desirability and viability among its potential audiences.

It’s similar to writing a book. Several drafts are created and continuous editing brings the best version of the book.

Below are the steps for building a successful Minimum Viable Product (MVP):

  1. Build the product
  2. Launch prototype/service
  3. Take feedback from potential customers in identifying weakness, flaws, and missing features
  4. Improvise the product keeping the user feedback in mind

Let us explain with an example which made it to the list of a successful company- Airbnb (Airbed and Breakfast) company.

Brian Chesky and Joe Gebbia couldn’t afford to pay rent of their apartment in 2007. So to make their living, they decided to convert the loft into lodging space. The core values were cheap accommodation and a little more personal space. They made a simple website and uploaded the pictures of the room. They used their own apartment to test their MVP or core values. They successfully completed their test as 3 people applied for rent and become a customer. They did further market research by discussing with people to understand what they want. Thus they started pursuing their idea to make it better and bigger.

MVPs are created to test the demand and not to test too many features of the product. Test core values and check if users got the value right. The goal of MVP is not to get the product right at the first go. Basically, the motive is maximizing the learning with minimal efforts.

To increase chances of success, follow the below points:

Define your market clearly
Avoid generic idea or concentrate on a market which is facing some disadvantages with its existing offerings.

Scalability options
Your target market shouldn’t be too narrow. You should be able to reach to mass or specifically focused groups who require consistent service.

Create a compelling choice for your product
Compare your product with competitors offering. Check what makes your product unique and appealing to the customers. How your product benefit can draw audience attention toward yourself?

Create a better deal
Any buyer will compare price and benefit. People don’t buy if it’s unaffordable. So offer a competing price. You should consider that company is able to deliver profit with the competing price.  Genuinely lowering the price for product acceptance can make the company go into losses.

Focus on Market need
A product is created with many assumptions. It’s important to test assumptions and create a product that market needs. Many times, a great product fails. Design the product to make it an integral part of your customer‘s daily life and not just nice to have a solution.

Minimum Viable Product (MVP) is a not a product by itself but more of proof of concept. There is a difference between what we think will work in the market and the actual market demands. MVP is not something that is built once and the job is done. It’s a gradual process that can be repeated over again to make a worthy product.

Contact us if you are looking for support to develop your minimum viable product.

Never Get Dishearten if there is Result Oriented Digital Marketing Solutions Company

Are you in the mood of launching a startup and thinking of taking consultation from digital marketing solutions company? Then you are going in the right direction on this cutting edge competition. Nowadays the result oriented digital marketing solutions company plays a critical role in ensuring the overall success which can be of marketing goals, as the numbers of active consumers are pondering on the internet continuously.  The key to success in marketing is recognizing and respecting that any industry is ever morphing.

Never Get Dishearten if there is Result Oriented Digital Marketing Solutions Company

When anyone works for an industry which is ever changing then it will be the most vital to be inspired and on the top of the game. The digital space is the best platform for consulting services either it can be well- established companies or business consulting services for start-ups. They can listen and understand the business objectives and goals.

Some digital marketing solutions companies are providing expert web marketing to the start-ups. They are there for offering digital marketing consulting services for start-ups, with fewer budgets too. The expeditious services are spell bounding as they never let the initial resource constraints to stop the consulting services of start-ups or letting their dreams of making their giant figure in the online world.

Luckily some of the reliable digital marketing solutions companies are always on their toes to provide the excellent and energetic consultation services to the start-ups as they have internet marketing related consulting. They sometimes design interactive as well as techniques which can be best suited in rapid globalization.

Digital marketing solutions company has great burst upon the business scene with a big bang, convincing entrepreneurs to sit up and get notice. Consultation services for the start-ups have a benefit that it can increase brand recognition, which has a vital role in making the product or service easily accessible for the customers.

Digital Marketing Solutions Company

The services of digital marketing solutions company are very much packaged to provide everything that a start-up needs to deliver a brand presence on the internet.  The well strategic plan in digital marketing will guide them at each step of the growth graph. The consultation services of the start-ups can be best graphic and paid search engine promotions which ensure the greatest investment.

The digital marketing solutions company for consulting the start-ups will enable their business to get an apt and thoroughly professional spot on the Internet. Their proactive strategy will grab the revenue and traffic also. The experts will also guide a long lasting brand message to let the world know about the start-up. The best of digital marketing solutions company possess the potential that after getting the consulting services for start-ups, the brand will explain their seriousness in the business itself.

The knack of web marketing to the next level will make them look forward to continued success. Their best virtual can build the reliability of start-ups which will be a jump start in saving time and resources. The digital marketing solutions company has a versatile capacity in the consulting services of start-ups. Nurturinno Consulting Pvt. Ltd. has an experienced team for digital marketing services. Contact us if you are looking for support.

Startups Should Seek the Assistance of Professional Business Consulting Firms

Startup entrepreneurs always have fuel in the belly when they start their new firm and will look out for professionals those who can provide them consulting services at best rates.

These types of startup firms should be clear in their ideologies, strategies and final objectives and also select the products that will sell quickly. There are tons of formalities that business entrepreneurs should follow before they start the firm. Owners of the startup firms should always hire business analysts or consultants or Startups should seek the assistance of professional business consulting firms or those who have years of experience and wide knowledge in this subject. They should show maximum patient while searching for senior consultants those who can offer best services to them.

Businesses may face several legal hurdles, hiccups and other external problems during production and selling. So, should look out for consultants those who have undertaken several micro and macro level projects in the past.

Startups should seek the assistance of professional business consulting firms

People those who are planning to start a business may need a consultant when he is new to this projects, does not have required skill-sets, has very small team and not enough money. When the question is related to – What consulting services do startups need? They need brand builders those who have experience in selling, digital marketing experts, financial consultants, legal experts and auditors. Guys those who are newly venturing into online and offline sell compulsorily need the assistance of prominent consultant services. Owners will understand the     risks and the challenges that are involved beforehand when they utilize the assistance of external consultants those who have high levels of knowledge in startup firms.

Individuals will be able to forecast the risks and challenges
Businessmen can also look out for best mentor who is already doing the type of business he is venturing into and find out the risks that are involved in it. Even outside consultant who is guiding hundreds of start-up companies will have some lead. Companies or individuals those who are planning to invest their money in new deal can become friends with the mentors and discuss their actual requirements. When they do these types of time-tested activities they will understand the serious of the new business. If they get positive inputs after discussion then they can take the next course of actions immediately.

Choosing the products that are in demand is very easy task but the actual requirements may be different than what was planned. Startup should not suffer from shortage of products after they start their operation. So, when the startup gets the guidance of intermediaries they can widen their knowledge in this area. Startup can follow the foot-steps of the mentors and also follow the same strategies what they follow till date. Startups have to invest their money carefully and professionally else it will become national waste. They will get better insight about financial and fund management when they discuss with the consultants those who have very rich knowledge in this field. So, the business houses will surely benefit when they approach the intermediaries or consultants or Startups should seek the assistance of professional business consulting firms or those who specialize in guiding startups.