The MVP (Not the Most Valuable Player)
20% will get you 80% of what you’re looking for. Airbnb started as a spare mattress in an apartment. Groupon started as a coupon for a pizza place.
-Unknown Author
There’s a concept in product development known as MVP. It stands for ‘minimally viable product’ and reflects the least amount of functionality required to launch a product. MVP requirements can vary. For example, the MVP for a Tesla is far different than the MVP for a Ford Taurus. Expectations for each are based on the manufacturer, market and target consumer.
I know several people that have side projects in various stages of execution. Some are hobbies while others are full fledged companies. I also know quite a few people that have aspirations to start a business but just haven’t made progress. More often than not, I find that the limiting factor for them is the feeling of being overwhelmed. They get so paralyzed thinking about everything they need to be successful, they never get started. The idea of getting everything right and perfect impedes progress.
I’ve found that one effective way to get unstuck is to articulate what your MVP is. For example, if you want to launch a website for your project, your ideal site would have all the bells and whistles including videos and state of the art functionality. The MVP version of your site may just include the basics with text and a few pictures.
The key to success is to start and iterate.
Besides providing a sense of accomplishment, MVPs give you something to share with people that may be able to help you. It gives them something to react to, separating you from the people that just talk and people that take action.
It’s easy to be paralyzed by an ambitious endeavor but with a little bit of planning and thought into what your MVP looks like, daunting tasks become a little more achievable.
Aji