INNOVATION IN BUSINESS ENTREPRENEURSHIP MANUAL

MANUAL INNOVACIÓN EN EL EMPRENDIMIENTO EMPRESARIAL

The Minimum Viable Product (MVP) is the one that has only the characteristics to be marketed and no more. It is generally launched to a group of potential customers with the aim of getting their opinions and receiving proposals for improvement, and serves as a "marketing test" to test the launch and its commercialisation possibilities. The main objective is to obtain as much "validated learning" with as little effort, and resource consumption, as possible. It could also be considered as a "controlled experiment". In short, it is about avoiding building products that are costly to produce and that customers don't want. Applying the Customer Development vision has a clear function: to "get out of the building", i.e. to force the entrepreneur to check his hypotheses and validate them. In the creation process, a series of hypotheses will have been established about what the customer wants and other hypotheses about how the product comes to solve those first hypotheses, that output. Getting out of the building" refers to actions that have direct contact with potential customers, tests, interviews, sales or attempted sales. A real approach to the market and with interaction with the customer to obtain his opinion and sensations. To design this product we should think about which of the problems we are going to solve we can solve in the easiest and quickest way and for which those future customers would pay us. For some authors (e.g. Ries) the objective is not so much sales but learning. It does seem advisable to force this step, because if not, key business issues will not be tested, and also the attitude and demands of the customer of a free version differ from those of a paid version. It is not exactly about marketing, but about marketing to a small group of people. This group are the so-called "early-adopters", the first to try out a product (generally everything in a particular sector that interests them) or "earlyvangelists", evangelists of the product who help to spread the word about its benefits. It is also important to try to clear up any doubts and uncertainties that may exist about the business model, which should also be clarified even before finding out whether the early evangelists pay for the product, or their feedback. For example, if there is a market problem, we need to find out how big the market is, how important and urgent the problem is for the target customers, whether there are competing solutions (there are bound to be some, albeit with different products), how existing solutions are valued....

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European Open Business School