Title Pain point Length
How to Build an MVP that Validates Your Business Idea and Attracts Users MVP or full product – what is a better investment? 1 476

How to Build an MVP that Validates Your Business Idea and Attracts Users [Updated for 2024]

Have you ever been to a stand-up show? If so, you might have noticed that there two types of comedians – one whose jokes land, and the ones whose don't. The former leave the club sad and miserable and the latter leave it in a fancy cab with a bottle of champagne wearing sunglasses at night. The difference is not talent, not voice, not even the audience. It's practice.

See, every successful stand-up comedian shares one very important quality: they question every single joke. Every legendary joke you've heard was practiced, tested and refined before smaller audiences countless times. Hell, even one of the greatest comedians of all time – Jerry Seinfeld, makes a habit of spontaneously showing up at the club to test out jokes for future paid gigs.

So, as a founder, do you want your startup to be a good joke or a bad joke? Jokes aside, there's a similar way of testing your business ideas before releasing them to general public, and it's called an MVP (Minimum Viable Product).

Turning an idea into a successful product requires more than just a well-crafted plan. It demands a strategic approach to product development. An MVP is a stripped-down version of your product with just enough features to validate your core assumptions and attract early adopters.

Building an MVP that effectively validates your business idea and attracts users involves a thoughtful process that encompasses market research, user-centered design, and iterative development. Here's a little cheat sheet to help you navigate this process:

1. Define Your Core Assumptions

I'm gonna write a joke about trains.

Before diving into development, it's crucial to clearly define the core assumptions underlying your business idea. These assumptions represent your beliefs about what your product will solve for users and how it will create value. Identifying these assumptions early on will guide your MVP development and provide a framework for validation.