Building Sustainability Ventures-IHB23
- Climate & SDG’s
- Business Design
- Venture Building
- IHB23 Content Bundle
COO & Co-Founder at MING Labs
Pre-mature scaling is one of the top reasons for failure of new products. Innovation teams scale too quickly when they build fancy features, spend money to acquire few 100 customers and get busy in operations - before they’ve nailed down the product and business model.
This is why you need a “throwaway” MVP. Something that can be launched in 4-8 weeks and allows you to LEARN.
So before you scale, you have to answer all the unknowns like:
1. How to acquire new customers? What message and channel work for us?
2. How to make them active and understand why they are active?
3. Understand why others are in-active?
4. What are users doing on the product? What features are they using?
5. What is their Ahaa moment?
6. How to convert active users to paid users?
7. How much are they willing to spend to solve their problem?
In this session, we talked about “throw-away” MVP hacks:
- How to launch in 4-8 weeks? NO-CODE revolution
- How “throwaway” MVP is built by hackers and scale-up products are build by architects
- How to use data to answer all product unknowns before you scale
An Innovation Strategist at Lean Apps, Narjeet seems to be in love with experimentation and pre-totyping. He has tested new business ideas in Pharma, Healthcare, Insurance, Automotive, Retail, Telecom, Music, Manufacturing and more. He has tested ideas both for physical and digital products across B2B, B2B2C and B2C.
His mantra: SELL it before you BUILD it.
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