Steps To Build an MVP

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

Building an MVP is a part of almost every founder's work.

Here are the key steps to build an MVP.

Most founders build an MVP and then talk to users.

Instead, talk to users first and then build the MVP.

Take into account the users' feedback.

Release the initial MVP to a set of users as soon as possible.

Don't make it a major launch.

The purpose of the MVP is to start a conversation with customers.

Focus on speed to launch and time to feedback.

Meet users to ask about their experience.

Have them show you what they did with it.

Take the feedback and iterate on the MVP.

Create a new version and launch to a new cohort of users.

Limit the time you spend on the MVP to keep the project on schedule.

Reduce the scope of it in favor of reaching users for feedback.

Avoid overbuilding the MVP.

It's best to add to it incrementally as users give feedback.

Consider these steps in building your MVP.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let's go startup something today.

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