How to Craft a Minimum Viable Product (MVP-1)
Note: The following content was first delivered as an asynchronous audio teaching in the first iteration of The Vision Society, recorded and delivered by Daje Aloh in 2024. Enjoy.
This training is specific to service-based entrepreneurs who are serving clients one-to-one or in a group format. This training can be translated to both online offerings and in-person offerings and utilizes the the base-structure and narrative arc introduced inside of the Subtle Sales training, also known as a Minimum Valuable Process.
Core Questions for Development
How to Develop an MVP-1
How to Test a MVP-1
Using the Insights of Your MVP-1 to Craft Future Offerings
One of the biggest challenges of offering development is the issue of Risk. It takes risk to build an offering, develop assets, draft copy, and market it to your audience and face the potential that the offering may not land with your audience. It’s painful. Frustrating. And if you engaging this level of risk enough times, it can make you feel resistant to trying it again.
Service-based entrepreneurs in particular often face the challenge of assuming quite a bit of risk and responsibility when crafting offerings because not only are we investing our fiscal resources into the development of an offering (landing pages, coaching, branding assets and so on), but we also face our reputation being affected by offering and selling a product or service that people may or may not want.
“Transformation doesn’t happen in a linear way, at least not one we can always track. It happens in cycles, convergences, explosions. If we release the framework of failure, we can realize that we are in iterative cycles, and we can keep asking ourselves—how do I learn from this?” — Adrienne Marie Brown, Emergent Strategy
“Businesses around the world have entered a rich and turbulent era of experimentation.” — Carol Sanford, The Regenerative Business
The Minimum Viable Product is a way to meet that risk, create revenue and impact, while also utilizing the data we’ve gained from sharing and selling the MVP to develop a signature product / service that will take our customers deeper into a transformational process. The MVP-1 allows us to Prove Our Concepts (Proof of Concept) or validate our offerings with the people we’re here to reach without overextending on unpaid research and design processes.
Minimum Viable Products for service based entrepreneurship are service offerings that…
Takes minimal effort to craft / deliver.
Serves the customer’s core needs through the value proposition.
Is sellable and generates consistent revenue.
Minimum Viable Products are often smaller versions of larger ideas used to validate an offering and market test how customers receive or reject our offerings.
Questions for Developing a Minimum Viable Product are…
Feasibility: Is the offering feasible? Do you have the capability and the capacity to deliver the full scope of the offering?
Viability: Is the offering viable? Does the scope of the offering receive back in value what it is giving?
Desirability: Is the offering desired? Has research been conducted to understand the true need for this offering within your community of customers?
How to Develop an MVP-1
Crafting an MVP-1 for service-based entrepreneurship involves creating a service offering that addresses your customer's core needs with minimal effort while being sellable and generating consistent revenue. This approach allows you to validate your concept and gather essential data without overextending on resources. Here’s how to craft your MVP-1:
Identify Core Needs and Value Proposition:
Determine the most pressing needs of your target audience.
Develop a clear value proposition that outlines how your service meets these needs.
Define the Scope:
Keep the scope manageable and focused. Aim for a service that you can deliver effectively without stretching your resources.
Ensure that your service is feasible, viable, and desired by your target audience. Conduct preliminary research to validate the need.
Develop the Offering:
Create a simplified version of your larger service idea. This could be a basic workshop, a short-term coaching program, or an introductory session.
Focus on delivering high value in a condensed format, ensuring that the core benefits are still apparent.
Set Clear Goals:
Establish what success looks like for your MVP-1. Define metrics for customer engagement, satisfaction, and revenue generation.
Use these goals to guide your development process and measure outcomes.
Prepare to Launch:
Create the necessary assets, such as landing pages, promotional materials, and sales copy.
Plan your marketing strategy to reach your target audience effectively.
How to Test a MVP-1
Testing your Minimum Viable Product is powerful for proving your concept / value proposition and making sure that you’re speaking directly to your customers most present desires or needs.
Beta testing your MVP-1 is crucial for gathering feedback and refining your service offering. This process allows you to validate your concepts and make data-driven adjustments before a full-scale launch. Here’s how to conduct a successful beta test:
Recruit Beta Testers:
Select a group of participants who represent your ideal customers. They should be willing to provide honest feedback.
Offer incentives such as discounted rates or exclusive bonuses to encourage participation and sweeten the deal.
Design the Beta Test:
Outline the structure and timeline of your beta test. Clearly communicate what participants can expect and what you hope to achieve.
Prepare feedback mechanisms, such as surveys, interviews, or feedback forms, to capture detailed insights.
Deliver the MVP-1:
Provide your service offering to beta testers as planned. Ensure that the delivery process is smooth and professional.
Be present and available to address any issues or questions that arise during the beta test.
Collect Feedback:
Gather feedback from your beta testers systematically. Focus on understanding their experiences, challenges, and suggestions for improvement.
Analyze the feedback to identify common themes and actionable insights.
Evaluate Results:
Assess the effectiveness of your MVP-1 based on the feedback and your predefined success metrics.
Determine what worked well and what needs adjustment before moving forward.
How to Use the Insights of Your MVP-1 to Craft Future Offerings
Incorporating the insights gained from your beta testing phase is essential for refining your service offering and ensuring its success in the market. Here’s how to effectively implement these insights:
Analyze Feedback:
Review the feedback from your beta testers thoroughly. Look for patterns and recurring suggestions that indicate areas for improvement.
Prioritize the most critical insights that will have the most significant impact on your service offering.
Make Adjustments:
Refine your service based on the feedback your received. This might involve tweaking the content, adjusting the delivery method, or enhancing customer support
Make sure that these changes resonate with your overall value proposition, business goals, and customer / client needs.
Test Again if Necessary:
If the adjustments are immense, consider conducting a second round of beta testing. This can help you validate the changes and ensure they meet your desired outcomes.
Use a smaller group of testers or focus on specific aspects of the service that needed improvement.
Prepare for Full Launch:
Once the necessary adjustments are made, prepare for a full-scale launch of your service offering.
Update your marketing materials, train your team (if you have one), and ensure all systems are in place for a smooth rollout. But be aware that sometimes in the beginning stages you may have to be iterative and adjust systems as you go.
Listen and Iterate:
After the launch, continue to monitor customer feedback and engagement. Be prepared to make further adjustments as needed.
Establish a continuous improvement process to keep your service offering relevant and effective.
