Idea to Startup 20-ish Minute Skill: The Concierge MVP (ITS Classic)
Feb 21, 2024
Explore the game-changing concept of the Concierge MVP, a smart strategy for startups to validate ideas without heavy investment. Discover a four-step method that focuses on gathering customer feedback. Hear cautionary tales about overlooking user workflows and learn how personalized experiences can drive product validation. Dive into relatable anecdotes that highlight the importance of real-time feedback and refining business strategies, offering a roadmap to entrepreneurial success.
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Startup Chicken and Egg Problem
- Early startups face a chicken and egg problem: needing to build a product to get funding, but needing funding to build the product.
- Understanding this cycle is crucial to avoid wasted resources and frustration.
Use Concierge MVP for Validation
- Use a concierge MVP to manually deliver your product's value without building it.
- This helps validate assumptions and customer interaction with minimal cost and effort.
AI Tool Failed Retailers' Workflow
- A team built an AI tool for retailers that worked but failed because it didn't fit their Excel-based workflow.
- Merchants feared replacement and didn't adopt the tool, leading to the product's failure.