Webinar Recap: Product Talk "How to Approach, Plan, and Deliver an MVP"
The idea of a Minimum Viable Product (MVP) is one of the hottest topics in the startup world. For new businesses, the biggest challenge is to enter the market fast and prove their potential to succeed. And the MVP - or the smallest and quickest functional version of your idea - is essential to speed up this process.
That's why our first webinar in the "Product Talk" series was focused on various approaches to building an MVP, securing a budget, outlining essential features, and presenting it to early customers or investors. The webinar was hosted by our COO, Anton Oparienko, and it was a great pleasure to have Cameron Ridenour (Co-founder & CDO at CoNote.ai) and Chris Priebe (System Integrator at Zelt) as respectful speakers.
In the webinar, we discussed diverse aspects of MVP development, including market research, defining the target audience, choosing between niche and scalability, approaching investors, and more.
Cameron explained in detail why gathering feedback from potential customers early on is crucial and how to use it to shape the MVP. He also pointed out that it's important to balance user feedback with the overall vision for the product. At the same time, Chris focused on distinguishing helpful feedback from not-so-helpful feedback, what to consider when approaching the launch, and how to deal with specific client requests.
Among the key points our speakers and guests discussed during the webinar were metrics to focus on for investors, what to do after your MVP is launched, how to generate product ideas, and how to acquire customers for a bootstrapped SaaS platform.
- Start gathering feedback from potential customers as early as possible, even before building an MVP.
- Focus on talking to potential customers rather than just conducting market research.
- Budget carefully and consider doing as much as possible yourself to save resources.
- Approach the launch of an MVP by leveraging low-cost methods like sending emails and using LinkedIn for B2B, and utilizing email marketing for B2C.
- In case of failure or poor performance of an MVP, take a step back, conduct research, and have open conversations with your team to understand what went wrong.
- Acquire customers for a bootstrap SaaS platform through organic growth, personal outreach, partnerships, and consistent social media presence.
- Don't let self-doubt hinder your progress; put your ego aside and create what's in your head.
These are only a portion of the insights. Watch the full webinar video to delve deeper into the topic and obtain more practical information firsthand.
Overall, it was a great experience, and we are glad that our guests found the event to be informative and engaging.
The next episode of our "Product Talk" series will take place at the end of January. So if you are an entrepreneur and want to share your story with the potential audience of 10,000 visitors and subscribers, we invite you to connect with Anton Oparienko via LinkedIn or fill out this form.
P.S. Do you know that we've launched a Startup Success Network? It's a Slack community where founders come together to ask for advice, share experience, and discover new opportunities. Feel free to join the community and receive support and guidance from entrepreneurs all over the globe!