When building a startup, there’s a lot of buzz around creating a Minimum Viable Product. But if you’re aiming for long-term success, it’s time to rethink the “viable” part of that equation.
The real goal should be to create a Minimum Valuable Product—something that not only works but also hits the sweet spot in terms of desirability, feasibility, and aligns with your company’s mission, vision, and values.
At the core of any MVP is your UVP. This is what sets you apart from the competition and is the reason customers will choose you over others. But here’s the catch: your MVP should deliver this value in the simplest, most straightforward way possible. It’s about stripping down your offering to its most essential elements—those that truly resonate with your target audience.
When we talk about an MVP being “valuable,” we’re looking beyond just whether it works or whether it’s something people will buy. A valuable MVP addresses three key dimensions:
Desirability: Do customers actually want this? This goes beyond just solving a problem. It’s about creating something that people are genuinely excited to use.
Feasibility: Can you build this? Your MVP needs to be something your team can realistically create with the resources you have—without compromising on quality or user experience.
Viability: Can you monetize this? Even at the MVP stage, you should have a clear path to generating revenue. Your MVP needs to demonstrate that people are willing to pay for the value you’re providing.
X-Factors: Does it align with your mission, culture, and long-term strategy? This is often overlooked, but it’s critical. Your MVP should be a reflection of your company’s values and should support your long-term vision.
The true MVP—your Minimum Valuable Product—sits at the intersection of these elements. It’s not just about getting a product out the door quickly; it’s about ensuring that what you release is aligned with your overall goals, excites your customers, and can be feasibly built and scaled.
By focusing on creating a Minimum Valuable Product, you set your startup up for success from the get-go. You avoid the pitfalls of building something that’s technically “viable” but fails to resonate with customers or align with your long-term goals. Instead, you’re creating a product that has the potential to grow, scale, and thrive in the market.
When working on your MVP, think beyond just viability. Aim to create something valuable—something that captures the essence of your Unique Value Proposition while also being desirable, feasible, and aligned with your mission. This approach will not only help you build a better product but will also set the foundation for long-term success.