S7 E8 Be sure your business will make money before you launch – Test your hypothesis; launch your minimum viable product with Jeremy Gray
- 12:58
- October 20th 2021
Episode 8 Test your hypothesis; launch your minimum viable product.
The Minimum Viable Product evolves from the Lean Start Up Theory.
Which espouses the fail early philosophy.
MVP is the first working version of a product, with just enough features to satisfy potential clients and collect & analyse their feedback for the next product version, with minimum effort and resources required. The next, complete product version is developed after elaborating on the initial user feedback.
A minimum viable product is not an MVP until it sells.
Example of an MVP – Amazon;
Most people know that Amazon began as an online bookstore. You may be unaware, though, that Jeff Bezos started out by buying books from distributors and shipping them to customers every time his online store received an order. The high book sales meant it made sense to keep adding more products to the store, then acquire warehouses, and finally provide each user with a personalized experience on the website.
The virtual MVP.
Build a landing page – test advertising to direct traffic to your site. Include a price and a buy now button. This does not go to check out but to a page that explains the situation and suggests the view leaves an e-mail address
Validates that people are willing to part with their cash to acquire your product.
No money to build an MVP or pay for advertising? Consider content marketing. Write a blog with content that your target market might find interesting. Using the knowledge of learned about where your customers hang out – post messages etc directing folks to your blog. There is no substitute for research. It can be frustrating when you just want to get up and running.
But more haste less speed. The steps covered in this series Is there a demand for my product can help you avoid the second leading cause of failure for startups; No one wants your product
Tags: how to launch a product, launching your product, product launch plan, product launch, product launch formula, marketing strategy, IBGR,network, Jeremy Gray, Practical Solutions to Difficult Problems
I am committed to helping entrepreneurs succeed. I can bring the experience of 30+ years of experience at the C-Suite level in an MNC from Europe, North America, and Asia. Combine this with seven years of helping a diverse range of businesses and I can provide you with practical solutions to any difficult problems you may be facing.
Please do not hesitate to contact me for chat via the following links: mailto:[email protected]
Or schedule time via Calendly: https://calendly.com/3-continents-consulting
My websites include: https://business-in-asia.org/ https://thedentistscfo.com/
My LinkedIn URL https://www.linkedin.com/in/jeremy-gray1
Practical Solutions to Difficult Problems with Jeremy Gray
After over 30 years in the MNC corporate world at the C-suite or General Manager level I am now focused on helping Entrepreneurs and SME's succeed. Using the lessons learned from working in Europe, North America and Asia while as an MNC executive along with 7 years supporting smaller businesses I bring this knowledge to my listeners. The topics will change but the message will remain the same, how to profitably grow your business.
Jeremy joined the IBGR.Network to build his next career focusing on developing strategies that accelerate revenue, profit, and long term growth. The size or age of your business doesn't matter, only the size of your dreams. He can help you get there with:
- Mergers and Acquisition Support - building your company to sell? Looking to grow from buying your competitors?
- Business Turnarounds - your dream is failing and you don't know where to start?
- FP&A, Budgeting and Cash Flow - profitability is driven by the ability to manage cash flow!
- Staff Development - are you the only competent person around and success is possible if surrounded by equals?
- Strategic Planning - how to plan a future that is achievable and achieve it!
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"In business set backs are inevitable – defeat is not. If you have a difficult problem let me help you to find a practical solution"
Jeremy has over 35 years of experience in senior Finance roles and General Management based in Europe, USA and most recently Asia. He is an experienced CFO who has helmed troubled operations in the USA, China, Japan and, turning their poor performance into profitable businesses.
He has also led M&A projects across the globe including an acquisition in China, that was a first for his MNC employer at the time.
Jeremy enjoys sharing his wealth of experience and knowledge with others, having participated in CFO Innovation Conferences in Singapore, Hong Kong, Shanghai and Bangkok. It has become a passion for him to use the expertise he has honed over the years to support SME owners with revenue and profit enhancement programs while imparting strategic development skills to help grow their businesses.
Jeremy broadcasts LIVE from Singapore