Tech founders, don’t be a #featurehoarder.
I’ve worked with enough failed digital media startups to have identified one trend of failure: poor MVP execution.
Ambitious first-time CEOs who want to bust out of the gate with outrageous competitive differentiators…products that implode.
The keyword in MVP is not minimum; it’s viable. With relatively few features, you can identify what areas drive value and build accordingly going forward; delivering incremental value with every version release.
It’s all about compelling introductory features that uniquely address a set of needs and user feedback, which informs future milestone features that expand on those needs.
Because you can’t be everything to everyone, make your product do something great for some one(s).
It is not news that the world of business accelerators and incubators is booming. The Top 15 incubators attract thousands of applicants for each cohort submission period. With over 50% of startups raising over $1 million each in additional financing after graduating a top program, many eager young entrepreneurs flock to these opportunities hoping to breakthrough.