We all think we have the next big idea! But when it comes to getting that first product out, it’s always best to build a cupcake. Most startups are building wedding cakes instead. We’ve all been there. Products end up bloated with too many features that no one uses. It takes months to deliver, and you still haven’t made a dollar.
So what are some strategies for building an MVP that generates your first paying customer?
1. Think cupcakes
Cut down half of your product features. Think about what your product will be known for. Pick one thing!
2. You can’t be everyone’s cup of tea
This is one of the biggest mistakes startups make. Often I hear, “Everybody can use it!” Really? Everybody?
3. The ideal customer profile with a budget is a win
Who are you building this product for? Do they have a budget? Where do they hang out? You need to have some idea about this, otherwise, you are building blindly.
4. Build with monetization in mind
You’re not running a charity, and you have to cover your server bills at the very least. How will monetization look? There are many models to experiment with, but here are some to check out.
5. Get beta users
These days anyone can build a product, but how can you actually get users? Start by building your audience. This can happen through several channels:
- Newsletter – You actually own this one, so it’s extremely important.
Social – Always at the mercy of algorithms, but start somewhere.
Blog – It might sound boring, but it can work if your content sizzles.
6. Get the first reviews
Reach out to your early users and ask them to provide reviews. Reviews are essential proof that your product works.
7. Experiment the hell out of everything
If you think about your idea as an experiment, your mindset shifts. You start getting creative, and the risk feels lower because if it fails, who cares!
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