Prototyping and testing
Many businesses first specify all the features of their products from the beginning to the end and then produce it. This process makes sense for large companies as they are already producing tested versions of their products. They already are sure about the basics of what they can sell and they already know their customers.
However, for a start-up we are only guessing what the ideal product could be because we are creating the very first version of the product. And it is highly possible that our initial guesses are wrong, and that modifications of the product would be required.
So, rather than waste time and money on our guesses, we must get outside of our homes before we actually build something and listen to the people who would potentially buy these products, take their feedback and make modification until we get it right.
From my experience, when customers do not provide inputs to the development phase, many products have been created that do not interest enough customers to build a business around it. They did not satisfy the customers’ needs and wants.
Please, do not make this mistake. I have seen it over and over in my local business network. Before creating the business ask your customers what they want, what else you can add to your product and how you can improve it.
Minimum viable product means the very first demo, the minimum features of a product to get the feedback. Sometimes minimum viable product can be just a drawing of a product on a piece of paper that you will show your friend, or a glass of pumpkin juice you will make your neighbor taste.
Your first step is to create minimum viable product and give this to your customers and then ask their feedback. Depending on the feedback you receive, iterate and develop new features and make changes. In this way, you will not spend all your time and resources in the beginning for a product that will not sell.
For example, after I started visiting the grocery stores and asking people why they bought certain products, I decided testing my pumpkin products. I did not start my business right away.
First, I started making pumpkin juice and sliced pumpkin packages. Then, I made my neighbors and friends use these. They told me to make larger packages for pumpkin slices and add different types of spices to create better taste for the juice. I went back home and prepared new products this time with my neighbors’ inputs.
Then, I went to these grocery stores and asked a couple of people to try my products and give feedback. I went through this process countless times until I came up with a small menu of products. Even when I was selling my products in the local markets, I would ask every single customer what they thought of my products and I would change my products according to their input.
In each of the following chapters on the Business Model, I will encourage you to test your ideas before you start implementing them.