Business owners are constantly thinking of new and exciting products. But there’s often one roadblock stopping owners from taking their idea to the next level: How do you turn your idea into a physical product with limited resources such as time and money?
Many owners turn to a minimum viable product (MVP) as a solution. From restaurants to tech giants like Amazon and Airbnb, companies of all industries have launched an MVP to get their business going.
That’s why we reached out to the owners in our Hello Alice community for their trusty advice on creating an MVP for your business. Below, we've collected some insightful tips you shared with us.
When creating an MVP, many owners worry about others taking their ideas. But one founder suggests prioritizing innovation:
“Do not be afraid that someone will steal your product idea. It's likely to happen down the road if it’s a great product anyway. Just be the first and always improve the design and features to meet consumer needs.”
— Kristi Gorinas, founder of Defendables
Another founder recommends seeking feedback on your MVP early on in the building process:
“Once you create your MVP, get feedback as soon as you can. You'll always want it to be "more perfect," but the early feedback will ensure you spend time on what people want to see and what they expect from your brand.”
— Kathleen Toomey, owner of Mighty Violet Design
This owner shares that launching an MVP allowed them to reduce costs:
“I launched a clothing brand called Desert Veil, which responds to the basic need for shade under the hot sun. The design is minimal, and the collection was launched with minimal viable products consisting of only three pieces. Made of natural linen, the collection includes a dress, poncho, and veil. I partnered with expert production houses and to cut costs in other areas, I created all the content, photographed the models, designed the website, and chipped away at building the business structure one day at a time.”
— Jessica Lutz, owner of Desert Veil
Learn more how you can launch an MVP through our Build a Minimum Viable Product Guide to learn how you can create an MVP for your business.
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