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Well, when I hear that I think of Theranos. I'm not an investor, but that approach feels a bit like putting the cart before the horse to me. For example, if I
by oblib 6y ago
Well, when I hear that I think of Theranos.
I'm not an investor, but that approach feels a bit like putting the cart before the horse to me.
For example, if I went to horse riders and asked them if they'd buy a saddle for $2000 that attached itself to a horse and could steer the horse based on GPS tech and follow built-in directions to anywhere they wanted to ride, and keep it from bucking or running off, they'd probably all say "heck yeah!"
So, now that I've demonstrated market fit from that point I need to make a working prototype and if I haven't a clue but do have a good pitch to investors that convinces them I can do it I'm still not accomplishing anything (except maybe a short free ride). I'm sure investors are aware of this but Theranos proved they can be had and I think that approach is why and how they can be.
But that's not really my side of the story. I want to make something first and then see if people will buy it. From that point of view the "V" in MVP seems most important and the minimal part is easy to described and easy to measure real progress on. So I do agree the initial goals for a product should be minimal, for example, maybe just a saddle that attaches itself to a horse to begin with.
But even if we get a prototype done we still don't know if we have salable product, so really, this is where market fit comes face to face with a product and we truly start finding out what an MVP is. Finding that needs testing with a real product, but at least we've not blown a lot of cash on actual product viability and almost none on marketing.