Testing for Product Viability: Beyond the Minimum Viable Product

This article explores the concept of testing for product viability beyond the Minimum Viable Product (MVP). It introduces the concept of the Minimum Desirable Product (MDP) and discusses its importance for consumer internet startups.

• The article begins by discussing Eric Ries’s concept of the MVP, which is the simplest version of a product that can be used to test its viability. It emphasizes that the MVP focuses on testing whether a product is viable from a business perspective, such as revenue and market size.
• It then introduces the Minimum Desirable Product (MDP) as a complementary concept that focuses on testing whether a product is desirable from a user-centric perspective.
• The article argues that the MDP is particularly important for consumer internet startups because they often need to achieve product-market fit and reach a large audience before they can establish a viable business.

Minimum Viable Product vs. Minimum Desirable Product

The article contrasts the MVP and the MDP in detail, highlighting their differences in terms of focus, metrics, and target users.

• The MVP focuses on business metrics such as revenue, signup rates, and conversion rates.
• The MDP focuses on user metrics such as satisfaction, engagement, and the value provided to users.
• The MVP targets early adopters, while the MDP targets the broader market.

Examples of MVPs and MDPs

The article provides several examples to illustrate the difference between MVPs and MDPs.

• A social network with high churn but high profitability would be an MVP, but not an MDP because it lacks user desirability.
• A dating site with high subscription revenue but low success rates in finding matches would be an MVP, but not an MDP.
• An amazing board game that is loved by friends and family but doesn’t have a distribution deal would be an MDP, but not an MVP.

Desirability in Consumer Internet Startups

The article argues that desirability is particularly important for consumer internet startups because they need to achieve product-market fit and attract a large audience before they can establish a viable business.

• Consumer internet startups often prioritize growth and reach over profitability in the early stages, as they need to reach a certain scale to attract advertisers and other revenue sources.
• The primary risk for consumer internet startups is market risk, which is whether or not their product is desirable to a large enough audience.

Minimum Feasible Product

The article also discusses the Minimum Feasible Product (MFP) as a concept relevant to industries where the engineering component is crucial.

• The MFP is used in industries like pharmaceuticals, where the focus is on developing a technically sound solution that can be tested in a lab setting.
• In these industries, the primary focus is on technical feasibility rather than business viability or user desirability.
• The article suggests that the MFP could be relevant to certain areas of consumer internet where technical innovation plays a significant role.

Key Takeaways

The article concludes with a summary of the key takeaways:

• Testing for product viability goes beyond simply building an MVP.
• The MDP is a valuable concept for ensuring that your product is desirable from a user-centric perspective.
• For consumer internet startups, achieving product-market fit and attracting a large audience is crucial for long-term success.