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How to calculate and manage risks using spreadsheet method for your startup
Hello Everyone!Starting a company can be disruptive if entrepreneurs don't anticipate the risk and prepare themselves to mitigate them. If...
Why startups need Minimum Viable Product?
Why startups need Minimum Viable Product
If you have an idea, but don’t have enough resources to convert it into a full-fledged product, then Eric Ries has introduced the concept of ‘Minimum Viable Product (MVP)’ for you in his bestselling book—The Lean Startup. An MVP is a product with crucial features released to test the viability of the business idea and gauge reactions from early adopters. The primary objective of MVP is to receive feedback and pre-orders before investing a hefty amount of funds in it.
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Bottom line
It’s often difficult for entrepreneurs to believe that starting with MVP is the best way to create something that will provide value to millions of users one day, but the above case study has proved it.
Citations :
Skillioma (October 2, 2022) Why startups need Minimum Viable Product?. Retrieved from https://www.skillioma.com/why-startups-need-minimum-viable-product/.
"Why startups need Minimum Viable Product?." Skillioma - October 2, 2022, https://www.skillioma.com/why-startups-need-minimum-viable-product/
"Why startups need Minimum Viable Product?." Skillioma - Accessed October 2, 2022. https://www.skillioma.com/why-startups-need-minimum-viable-product/
Skillioma December 8, 2020 Why startups need Minimum Viable Product?., viewed October 2, 2022,<https://www.skillioma.com/why-startups-need-minimum-viable-product/>
Skillioma - Why startups need Minimum Viable Product?. [Internet]. [Accessed October 2, 2022]. Available from: https://www.skillioma.com/why-startups-need-minimum-viable-product/
"Why startups need Minimum Viable Product?." Skillioma [Online]. Available: https://www.skillioma.com/why-startups-need-minimum-viable-product/. [Accessed: October 2, 2022]
Power Words :
- Viability
- Demographic
- Peer
- Capital
- Adopters
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