A ‘Minimum Viable Product’ or MVP is a business tool to reduce the inherent uncertainty with introducing new products in unknown market spaces. It is based on the age-old business practice that one must balance the level of investment with appropriate risk – that as one reduces business risk, one can gradually increase the level of investment. MVP’s reduce, not
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In Part I of this blog, I introduced the age-old secret of entrepreneurship – understanding the essence of what you’re really selling, i.e. defining the intrinsic quality of your product or service that compels your customers to want it. This is also referred to as the ‘value proposition’ or ‘deep meaning’ of any particular offering, elucidating the reason ‘why’ someone
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When formulating a new venture, consider the bond between invention and business model discipline – aka, Innovation. The birth of the Ford Motor Company story serves as a prime example. How many of you have ever heard of James Couzens? Without James Couzens, you probably would not have heard of Henry Ford. James Couzens completed Henry Ford. Ford, the visionary
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Necrophone 