A THOUGHT ABOUT MVP RESOURCES MANAGEMENT AND INNOVATION GAP
HOW THE SIMPLEST CONCEPT CAN DRIVE TOWARDS EXCELLENT RESULTS
1 THE KEY IS HOW DO YOU BRING INTO PLAY THIS CONCEPT
MVP is able to reach the market with just the most important and basic features to be:
– Appealing for customers.
– Sold reaching viability.
The point is using feedback from customers as source of information in order to develop the top set of features really appealing on the market.
– It is easier gather feedback from early adopters.
– This concept can be used for wide range of works such as new product and or even companies.
– Different strategic can be adopted using this concept but the main task should be the feedback mechanisms design.
2 WORKING OTHERWISE BURNS OFF TIME AND MONEY
From the main idea, two different paths are shown in the picture. The objective is plotted by the blue square called “Perfection”, that is the best concept which fits perfectly with the users needs and desires. The perfection is impossible due to the fact that there are different users profiles, information available is limited and hard to identify, environment changing, etc. But Perfection should be the target.
In red arrows: inefficient way
It is shown how big design efforts without user experience feedback drives towards deficient concepts. These concepts could be unappealing products, companies, software, etc.
That means loss of MONEY and TIME to produce concepts more difficult to sell. See the example of car description or video.
3 SHORTEST AND CLOSEST WAY TO PERFECTION
Green arrows shows the path under the MVP concept so that less money and time is needed to reach a concept easier to sell. Once the MVP is released into the market, development team can test the customers respond to new features and learn from users experience through feedback mechanisms. Then the First Concept version is reached which includes more features from Perfection area, so that is more likely to succeed.
Furthermore is important to notice the innovation – market GAP, or in order words, difference between innovation expectations and market need. When innovation is unable to fit with market requirements is known as innovation GAP. Following green arrows paths GAP is reduced and it is easier to skip it.