TURNING ASSUMPTIONS INTO FACTS

https://www.colblog.com/wp-content/uploads/2017/10/CTO-with-Team.jpgBusinessman and business sketch

The reason for this e-book is to level up your startup game right from the beginning. It’s not just about developing an MVP; rather, it’s about creating your MVP in the most optimized way possible with a goal of TURNING ASSUMPTIONS INTO FACTS.

Optimal Process of MVP dev

Concept / Ideation – Responsibility of Founder

  1. Identifying a need
  2. Crafting a vision to address the need

Design / Prototype Ready – Used to bring on board a technical advisor and dev team (the project is becoming more real)

  1. This time is used to take your robust concept and hone in on the MVP under the directions of an advisor or Technical team

MVP Development – with Technical Advisors or MVP specialized Outsourced Team

  1. Technical advisor helps hone in on the MVP strategy
  2. If no technical advisor, find a company that specializes in MVP product development
    1. Building Blocks
  3. Work with this team throughout the MVP launch

MVP Ready–

Post-beta launch used to inspire a technical co-founder to come on board / raise pre-seed money … the outsourced team is under the direction of the newly instated CTO / Technical co-founder

  1. This is the time to back your assumptions with data under the direction of a CTO…also used to make early product iterations
  2. Used to raise funding

Four execution strategies that can lead you to your desired MVP product:

Design/ Prototype Ready

  1. You Know what you want to build
  2. Have received feedback from people in the industry that this is an idea worth pursuing
  3. This time is used to take your robust concept and hone in on the MVP under the direction of an advisor or Technical team
  4. Initial investment to build an MVP with an outsourced agency is the answer…

MVP Development – with Technical Advisors or MVP specialized Outsourced Team

  1. Here a technical advisor helps hone in on the MVP strategy
  2. If no technical advisor, find a company that specializes in MVP product development.
    • Building Blocks is a great instance for a business that specializes in developing and finding opportunities for their clients to help increase efficiency and income
  3. Working with this team throughout the MVP launch

MVP ready

  1. Raise funds to create the MVP with the aid of an outsourced agency
  2. At this point, it is worth finding a technical co-founder and allowing him to provide directions on future product strategy
    • Your outsourced team has now worked on the initial product and knows it well-being that they built the initial MVP
    • Keeping them on plank as long as you can preserve your competitive edge, so long as they work cohesively with your CTO and statement is on point

How to turn your thoughts into a presentable prototype :

The Ideation Phase:

It’s the beginning stage where the concept of the startup shapes up. It’s the actual springboard to create the MVP where the idea is discussed, analyzed, and finalized. In the given condition where an outsourcing team is being hired to work on the MVP, the role of a technical advisor may not be necessary. However, a little fine-tuning up the general product growth plan without bringing an extreme change in the ideation could be probable

Let’s break down the ideation phase:

Identifying a Need:

The ideation phase of a startup begins with a thorough needs identification analysis. This phase is when you seek to understand the pain points that are felt by your prospective market. Check out this article by Tim Ferriss on pleasing an idea from impression to invention in just a few days.

Creating a Solution:

This is the phase when an entrepreneur seeks to find a solution to a specific need that is not being provided currently or a need that has not been addressed as effectively as it could.  When it comes to honing in on a product or resolution that addresses the need you have identified, one must consider in terms of a Minimum Viable Product.

 Shaping a company:

After the successful need recognition and creating a solution, the industrialist decides to finally go one step forward to start the company. The entrepreneur begins to dive deeper into the value that he/she will be creating and seeks to find out if someone will pay for such value and if so, how much? Here, the MVP helps you move forward, as technically, it is the final product in its most minimal form. You can evidently judge within the little time after its release if it will turn out to be painful or not. This helps in saving valuable time and deciding whether it is justified to invest further time and resources into this product or to start working on the next one to build.

Creating the Prototype:

Once the barebone wireframes have been put mutually, it’s now time to generate a more practical example. We recommend hiring a freelance designer to take your wireframes and create actual screens. A great way to get your design vision across to this designer is to put together a list of comparable designs.In this day and age, not anything is truly original, so find a bunch of stuff that you like and have you’re stylish go to town with his / her creativity.

Evaluation and testing:

One the prototype is built here comes the assessment process which is used to test the functionalities and elements.This stage provides a systematic analysis of the result.

One your function prototype is complete, it’s now time to get feedback. Although the product is not coded or actually built, you can still use your function prototype to get feedback. If you have done all right, your opponent should be able to recognize what the practical application is and the value they can get out of one day using your product.

Making adjustments:

The prototype development phase ends at the stage where the adjustments are made to fine-tune the prototype for moving forward to the MVP phase.

Within software like InVision critics or those you have viewing your prototype can make comments on specific screens. Use this “user feedback” to make adjustments to your prototype and fine-tune everything as you begin leading up to developing your product MVP.

The Product-ready Stage:

This phase of the product development has got the product ready and raised the seed funding. The seed funding is the first type of investment that a startup raises in the preliminary investment stage to set the direction of the startup and help achieve the goals.

Operational management:

It’s also necessary to figure out that how effective your management is. If you have a technical co-founder at this stage, then what technical co-founder capabilities your startup may require.

Cost analysis:

The cost of hiring and functioning with the outsourcing business is an integral part of the sketch Make sure even before finalizing the deal with them; you’ve already determined the price model with them. Some startups work on an hourly basis while others choose to have a permanent cost of the product growth

The Product Validation Stage

At this phase of product growth, you’ve finally been able to create the improved version of the product and you’ve some user grip as well. Subsequently, system capital round that you’re eying at this stage. In the case, you have the following things in hand over

An outsourcing team: You’ve outsourced the result without hiring a full-time progress team.

A better understanding: Due to going all the way through a process of product development and coming back and onward the with beta version development, now you’ve developed an accepting with your outsourcing team

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1 Comment on "TURNING ASSUMPTIONS INTO FACTS"

  1. 268727 787815Wonderful post, thanks so considerably for sharing. Do you happen to have an RSS feed I can subscribe to? 119992

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