Keep Calm and Test the Hypothesis
[Editor’s Note: On June 2 we published a video from startup strategy guru Steve Blank on The Real Meaning of “Minimum Viable Product.” A proper MVP, Blank argued in that video, is a prototype with the smallest possible feature set that still shows potential customers how your idea can help them. Once you have an MVP, in Blank’s process, you need to get out of the building, show it to customers, and get their feedback.
Why? Because you’re experimenting, and you need data. After all, in Blank’s customer development methodology, a startup is a temporary organization designed to discover a scalable, repeatable business model. You’re unlikely to make this discovery this unless you truly listen to customers and incorporate their feedback into your plans, as tracked on your business model canvas.
Today we want to share a sequel to the MVP video, in which Blank explains what entrepreneurs should be looking for when they get out of the building: not just data, but insights.]