Beyond pre-accelerator accepts each year dozens of entrepreneurs who aim to develop the next big startup. As the program follows the lean startup methodology, in the second practical phase, the goal for each startup is to develop an MVP (minimal viable product). Our team has noticed that there are always a lot of confusions in startup teams what exactly the MVP should be in their specific case.
In general, MVP is a small piece of the whole product/service which can be developed easy, quickly and cheap in order to find out if the product/service will be valuable for the users or not. What is important to them, what they are ready to pay for. Provoked by this, we have decided to describe 9 MVPs of some of the biggest startups worldwide in order to make things clearer.
1. Zappos
The founder had just launched a small web page with random pictures of shoes from the shop in his neighborhood. Once he had understood that people could buy shoes without trying, he started investing more in development.
2. Buffer
Instead of building an app, Buffer started with landing pages. They had offered social media post scheduling for free or two paid options. Once they had received more paid plans inquires than free plans, they moved it forward.
3. Facebook
The project started as a small networking tool for connecting students in the college. The founder started developing profiles and other features after the graphs showed that users were growing and engaging.
4. Angellist
They started building their networks by using their own e-mail contacts. When they found out that more and more people were joining the project, they began to think of a platform.
5. Dropbox
The team just made a video with an explanation of the idea. The feedback from users was incredible, so they started looking for funding.
6. Groupon
The project started with a wordpress webpage, where last minute meals were listed on discounts from local restaurants and coffeeshops. Once they got traction, they started scaling in the city.
7. Amazon
Bezos started with a small book trading webpage. After his business has started growing, he has decided to add products from new verticals.
8. Foursquare
The startup started with only one feature. After collecting a real user base, the project has grown to what we know it now.
9. Airbnb
The founder started to give a room in his rental apartment in order to earn money. After he noticed the big demand, he decided to make a platform for short-term apartment rentals.
In conclusion, MVP is something small that will prove or not your hypothesis. MVP will save you time and money from moving in the wrong direction and at the same time with few resources can give validation of how big the potential of your startup is. Apply for Beyond Season #5 to help you build your MVP.
