If you are one of the people who are dreaming of their own business and do not know where to start, then this article is for you.
Launching new startup most of the young entrepreneurs in IT sector have an idea. But they are always in rush to launch it, believing that their idea will make a difference. But hey, come back to reality. Did you know that according to the statistics 95% of the startups fail? That is the harsh truth that we have to accept and try to avoid the failure.
As a matter of fact, with the failure of the startup people lose their investments. So probably you’re asking yourself how relevant is it to me. Here is how, before launching your startup think if you know your customer needs, do they understand your product. Answering these questions, you will have a clear view of what you need.
If you need just to roll down your product to see how the market reacts there is no need in developing the “race car”, you just need a “ball”. To develop a “race car” will take a lot of time and money. The “ball” will work well to understand costumer needs, avoid risks of spending a lot of money and time to the product that will not appeal to the market. In the business world the role of the “ball” perfectly suits to MVP (minimum viable product). Basically MVP is a strategy for avoiding the development of products that customers do not want.
To build your Minimum Viable Product you need a Minimum Viable Team.