Find a niche, define your customer audience, interact and get their problems (major problem), define a solution (not a product), show them and get it into their workflow and then build mvp
@@allenlin2119 it depends. If you can make a scratchy working version quickly, make it. Else explain them how you'll solve it like I'll give you an API for this, you can integrate , how it'll work etc etc
In summary, there's another loop before the "build", "measure", and "learn" loop we're used to, they're "Problem Discovery", "Solution Design", and "Mafia Offer".
You can view certainly view it that way. However, it see them as an outer loop made up of smaller build-measure-learn (experiment) loops. This only works if you don’t limit “build” to building a product but any artifact like an interview script, or demo, or offer.
@@AshMaurya Please discuss what you said in this comment in your newsletter. "Don't limit " build" to building a product" This understanding and advice is a piece of wisdom that came after years of building startups!! ❤❤❤
So many truth nuggets here. I love the T shirt- "When you market the problem, Customers automatically believe you have the solution" Christopher Lochead- Play Bigger author
There is concept of 'demand' that goes beyond problems. They can have 1000 problems but that doesn't always help. Demand = Problem * Desire To fix * Ability To Pay. Market research to uncover problems and demand. Validate the demand with sales. If a demo doesn't make sense (like services-heavy solutions), then lean on a case study, either real or theoretical. Great video.
I have just ordered your book, I enjoyed watching this video - I have a service based business, and I do some form of this as I tailor solutions. It is incredibly helpful to hear this process articulated and defined so clearly. All the best and thank you.
At last! I just knew the MVP approach wouldn’t cut it anymore so I developed more complete first versions of my products using low code. This video offers a really good canvas for going to market. Great work!
Thanks. Super powerful and accurate to my experience. We’ve pivoted to sell as a service as we’ve thrown too much spaghetti at the wrong wall. Demo-Sell-Build is great advice.
Happy to learn from you once more, this has been taught by many content creators but your video explains it best with the needed steps to achieving the result.
This was great. You mentioned having the right customer interview process as being foundational. Can you discuss in more detail what constitutes a good customer interview? And how do you know when there's problem-solution fit?
I am not from a tech background. I am a biology scientist. This made a complete sense to me. I will implement this in to my tech startup. Thanks Ash Maurya
Great reframe of what worked previously and what doesn't now because of how conditions changed. Especially loved how the video progressed to link the concept of demo with a step by step way to think about execution as well. Thank you so much!
The old way works just fine. I’m in VC and we consistently see startups building and eventually growing their companies via proper customer discovery, MVP build, iteration toward PMF and then scale.
@@AudraGibson That explains it. This is a founder-first video aimed at saving bootstrapped founders precious time and energy getting to something that works without waste. Not aimed at VCs collecting on the upside :)
Very interesting ideas. I've a big proponent of the lean business canvass for many years, I thought your use here was interesting. As a 20+ year pre-sales veteran, you are spot-on. prospects/clients buy the demo, dream and promise first, we should stick to that concept as the precursor to any MVP.
That’s exactly what I did. I had an idea, did some research on the niche, contacted some of my targeted audience, discussed the majors problems, offered my solution, they were happy with it, then I went on to build the demo. My point in doing this is to have a good starting base then I would just iterate from there. Essentially, you want to be sure you’ll have the right audience and are solving the right problems before investing your time and resources building that product/service.
@@alimamujee1912 Love the feedback - I try to do what I can to up the production level but its a never ending uphill journey with always more that could be done 😂
I couldnt get the whole idea... Please correct me if Im wrong As per my understanding here it is mentioning about providing a DEMO to the client and sell that Demo to the client and then build the product...... fine it means, still you need a "Demo product" in your hand right? And that's what some of the companies considered as the MVP right? Can you please clarify....
You suggested us to create a demo instead of an MVP but what is the purpose of demo if the user cannot understand the product? What mode / method can be used to create a demo which allows user to understand and experience the product without us to actually make an MVP?
The 'customer-centric', 'problem-first' approach is not new by any means just another strategy actually common, just less mentioned. The concept of the 'mvp' is rooted in the lean startup method, aiming to reduce waste. My understanding is that it never intends to replace the former. Customer / problem discovery should always happen before you build anything. I too learnt this the hard way. My advice to anyone starting is to step back, spend time talking to your potential customers. There is no rush other than that created in your head...
As long as the hardtech is built on components that are already individually technically feasible, one can either assemble a single prototype or take a leap with early adopters. Tesla, Space X are examples of both. The art of the demo is showing the smallest thing possible to get an early adopter to buy.
This is really thought-provoking! Pre-eminence is truly a superpower. I've witnessed its impact as a consultant, and it's the best position to be in. A question that came to mind while watching: After identifying the customer's problem and pitching a demo, how do you keep them engaged and prevent them from seeking alternatives while waiting for your "Build" to be ready-especially if the problem is urgent and you've helped them understand it better?
Part of the answer is shortening the distance between the offer and MVP by reducing the scope and focusing on only what they need to realize the first value. Second, you should ideally already know the alternatives, bring them up during the demo if they are real contenders, and demonstrate how your solution is still better.
@@DannyBoy443 Tesla did this with their first car (roadster). Many kickstarter-like crowdfunding campaigns do this too. You fund the demo, not an actual product you get to test drive first.
@@AshMaurya That's Tesla though lol. They had the $ and leadership. Sorry but that isn't a great example Ash. I'm still in a bit of disagreement w/ you. And I haven't looked into Kickstarter. But don't you owe people back the $ they invested too?
@@DannyBoy443 I used Tesla because it's a well-known success story, and money and leadership alone seldom guarantee success. Do your research on crowdfunding, and you'll find tons more examples.
This isn’t a new concept. You’re kind of talking in circles around what we already know to be true. -Don’t build your mvp before you do proper customer discovery - that’s a no brainer. Use the Mom Test method to do so and focus on empathizing with your customer’s pain. 1- MVPs are still incredibly valuable for speed (being early or first to market does matter in many cases). If your customer doesn’t want it either they don’t recognize they have the problem, they can’t afford to fix the problem, or they don’t care enough about the problem to fix it. It means you’ve tried to fix something that isn’t a hair on fire problem. Which means you got your customer discovery incorrect (see the item 1, rinse and repeat). 2-If you are fixing a truly hair on fire problem, the solution doesn’t need to be close to a perfect product with all the bells and whistles. It just needs to be usable and solve the problem better than whatever the customer was doing before. Sometimes it’s building a mouse trap. Sometimes it’s building a better mouse trap. 3-Using a demo to secure sales the way you are describing it isn’t new. It’s a well known sales technique calling for”Selling the ghost”. It can be a very useful technique, but far from the only way to be successful with your startup.
@@AudraGibson Yes to all of that - yet in practice, that’s not what you’ll find. Most people still jump to solutions as step 1. Theory and practice aren’t the same.
@@AudraGibson And, one of the most watched videos on MVP on UA-cam is from YC and the advice there boils down to - launch quickly, then iterate. Can that work? Yes, but with statistically low odds. Is there a better way to raise those odds for founders, not investors? I think so.
Everyone has a different definition of “MVP” which is the core issue. We built an MVP in 1 week and had 1000 signups the first few days and in 6 months we have over 170k users and on track to double that by EOY. During that time we were constantly iterating on the product. We attribute our success to our razor focus on the best product our users want and nothing else. Building a product is a process, not a goal, which is what most people likely get hung up on when building an MVP.
I thought you were suggesting an alternative to MVP when I started watching your video, but at the end, you're telling a slightly different process which is nothing but an MVP or in simple QC terms we call it the PDCA [Plan, Do, Check and Act] cycle. MVP is not a half-baked product, it's a push factor or a lean method to quickly launch a new brand with some viable products to gather market feedback and further iterate to develop the brand and products. With MVP we have launched more than two dozen brands in a few years, but unfortunately, we still have some brands who don't follow the MVP approach and are stuck in the drawing board since the pandemic. MVP and Iterative product development are still relevant in present times, otherwise, in 2014 itself we would have had the iPhone 15, isn't it? 😊Ramesh.
“If you follow the right process, you achieve the right results.” - The Toyota Way Yes, I still advocate building an MVP, not stating with it as the first step. In my definition, an MVP is not a crappy early prototype but a well researched and carefully built product which makes even the iPhone 1 an MVP - which is a specific example I use often.
Thanks for the video! This is interesting and comes in handy for me! Do you have something in more detail on how to go about creating what you define as a demo vs. going too far with a. MVP? I’m exactly at this stage but I‘m not a techie but a business/marketing guy, and had plans to build an MVP with Bubble. Do you provide more insight on how to go about this?
If you're a reader, my book goes into the entire process in great depth: runlean.ly/3e There are also a couple of articles here: www.leanfoundry.com/topics/problem-solution-fit
I think there's a big difference between finding a solution to a problem you don't know and finding a solution to a problem you knowand experienced please and i think this video is for the first i would like to hear a take on the latter more
“Scratching one’s own itch” is a great source of ideas and I’ve started many products this way. Even then, just because you’ve encountered a problem first-hand doesn’t really qualify you as an objective customer because you’re also building a solution. Most typical customers don’t do that. It’s a great question and I’ll create another video on this.
@@AakashMehta What type of product are you building? If B2C take a down payment or preorder. I did this with my first book. Tesla did this with a car. If B2B, move forward with the procurement process. By the time the pilot starts, 2-3 months will easily go by.
@@AakashMehta, the quick fix here involves engaging developers a lot earlier when designing the tools vs. after building them. Frame the conversation around giving them a sneak peek of something you're launching and build an early access list.
So the Demo could be a mock up of the interface, with one verbally explainign what the customer will get? And then closing the sale if it's a Mafia offer.
Thank you for the video! What do you think about an MVP when there is no competition on the market, or there is, but it's very expensive and not flexible, or only available in certain brands as an expensive proprietary solution?
I'd start by challenging the first statement - there is always competition or there is no market. If you can provide a specific example, that would help.
Build the demo you just sold :) If you sold to large company, they'll probably need at least 2-3 months to get themselves organized before the pilot. If you're selling a B2C product, consider running a crowdfunding campaign.
Thank you for the video! I don’t think that you can test a B2C pricing model with a demo website unless you contact your leads. Many products offer free trial so users can try the full value proposition then decide to buy. I don’t expect users to click the buy button without trying the product which makes it impossible for me to know if my pricing is convenient. Wdyt?
A couple of things: 1. I don't advocate relying on a demo website but selling your first 10 customers face-to-face (irrespective of price point). Why? Fastest way to learn and overcome objections. 2. I'm not a fan of freemium... trials are okay but I'd recommend starting a paid trial with a money-back guarantee... same risk-reversal promise but it separates users (that will never pay you) from customers.
Double thanks for the clarification and the quick response Ash. 1- I was testing a Linktree like product last months. I tried your suggested approach and I phone called my potential users. Many of them were excited about the product after pitching. Then I was quickly faced to: I want to try it. At that moment, I was able to get an idea about the price point, however I quickly started wondering what can be my mvp since I pitched a version that needs few years of dev work also I was thinking if the number of people I spoke has statistical significance. How should we tackle this? 2- What is your advice when you use paid trial knowing that you don’t have a strong brand and/or social signals? Thank you!
A Demo or a Landing page is already a MVP because it helps you interacting with potential Customers to learn from them. Even a Wireframe can be Seen as MVP. The idea of starting with a demo is great but i disagree with the Statement: „Don‘t start with an MVP“. By the way the Titel is Great to get people Click on the Video 👌.
@@amadoubahentreprenariatdigital An MVP has different definitions and that isn’t 1) the original one or 2) what I many others subscribe to starting with there’s no product in a demo or landing page but an offer. I call that out in the video and perfectly fine if you have a different definition. You could read the title as “Don’t Start With a Demo or Landing Page” which is only slightly better.
Ash, your content is very, very high quality. If I may offer a suggestion, consider giving more concrete examples, ideally from personal experiences, to make this even more compelling. Keep it up!
@@AshMaurya why 10min? If the content is useful and engaging, why limit it? I binge watched a ton of your content since my earlier comment and I have to say - I still believe in what I said above. Hope it helps and I wish you all success!
@@AshMaurya You can do this, but if you're an engineer acquiring, the skills to do this in a tool like Figma could take the same amount of time it would take to build the product. However, after the initial skills in Figma or Bubble are acquired, you can build the prototype in less time. I'm not a UI/UX designer so I wouldn't know.
@@calebomega3824 I am a (software) engineer and yes, used to think that way until I spent a few days poking around with those tools... You don't need pixel-perfect mockups for a demo. Even if you prefer to code your product, you could start with the front-end before the back-end and start showing that before wiring everything up.
@@AshMauryacustomer funding you mentioned in Linkedin post "New way: Bootstrapping (not self-funding, but customer-funding)" can you tell more about this model. What is customer funding: customer commitment, upfront or investments from customers like crowdsourcing?
@@AshMaurya you mentioned in Linkedin post - "New way: Bootstrapping (not self-funding, but customer-funding)". Can you tell more about this new model and what is customer funding - an upfront payment, customer commitment or investments like crowdsourcing?
@@AshMaurya mentioned earlier in lkdn post - New way: Bootstrapping (not self-funding, but customer-funding). So what is customer funding? Upfront, crowdfunding or any other customer commitment?
@@RenatLotfullincustomer funding = sales So depending on the product and price point, you get to pick the tactic: crowdfunding, down payment, advance payment, collect credit card, etc.
Hi Ash, The video is very valuable and knowledge packed. But it lacks in packaging and presentation for sure. I can help you level up the video editing and thumbnail designs. Would you be open to discuss??
@@AshMaurya in case you didn't get it, the MVP currently on-ground is quite different from the actual/original intent of an MVP. I said your trying to reinstate it with the word Demo. If this is understood and you still differ, then we still are on different poles. I'm fine with that
I thought the demo was the MVP, how do you make a demo when you don't have the actual product to showcase? what's a demo by your definition? a figma prototype or something else?
@@hassen500 The art of the demo is showing the smallest thing that makes the sale. Start with the lowest fidelity, then layer up only if/when needed e.g. verbal demo, screen shorts, video, clickable prototype, working prototype, etc.
I get what you're saying, but I think MVP still works if your software is highly innovative, i.e. if you have zero or very few direct competitors. In other words, it's still possible to stand out in the age of AI, because AI doesn't really shine at innovating.
In my opinion, an MVP is always about the UVP (unique value prop) which comes from being different, not better. So in other words all MVPs need to do this... The challenge is still finding a big enough difference that matters. Just because one thinks it so, doesn't make it matter (to customers). That's where the first 1-3 steps in the video come in.
@@AshMaurya I think the key aspect that you are leaving out here is innovation. My first comment was about the first part of your talk where you say that customers can easily switch because they have more choices than ever thanks to AI lowering production costs. But AI doesn't innovate, it only helps build more with the same team, so in a new/innovative product category there wouldn't be more products to switch to. About the second part of your talk: your argument is that a demo is leaner than an MVP, so it's better to start with a demo. Fair enough. In this 2nd part you are making the case that field interviews are needed to uncover customer needs. Again, I think your argumentation is leaving out the innovation aspect. Before the steam or combustion engine the drivers of horse carriages would probably have wanted stronger horses. Before the iPhone people probably would have wanted an iPod with a bigger storage. In other words, radical innovation never comes from customer surveys/interviews. The lean startup idea is a solid one, always great to hear more about it.
@@dogaarmangil@dogaarmangil Thanks for clarifying. I have one or two videos in the works to address these questions precisely. One of the tenets I will present is that all innovation is about causing a switch from an old way to a new way. Causing a switch requires radical innovation but remember that the switch isn't from new to new but old to new. So even with iPods, iPhones, etc. the switching story was from tons of pre-existing alternatives (other mp3 players and smart phones and PDAs, for instance). The other video channels a Steve Jobs' quote: "It's not the customer's job to know (or tell you) what they want." But with the right process (not surveys) it is possible to uncover where customers struggle and get to why. Designing a (new) solution to an old problem is ultimately the thesis I'll present. Isn't the automobile a stronger or faster horse?
@@AshMaurya Looking forward. Your position is interesting, but I'll disagree on a couple of points. [1] For a customer the root motivation for switching is not necessarily innovation. For instance in a commoditised product category (project management software etc) people can switch to a lower-priced substitute. [2] Field interviews and talking to a lot of people tends to dull the mind, that's exactly what mustn't be done to come up with radical innovation. Interviewing carriage drivers wouldn't have helped come up with the idea of a steam engine. OTOH if you want to build a service business and not a product business, then field interviews is exactly the right direction to go. [3] About uncovering people's struggles: For most people life is what it is. Before the automobile people would have been perfectly content with horses and carriages, because that's all they knew. I think identifying problems/struggles and finding solutions is where small innovations lie. Radical innovation is all about finding new ways of using technologies and the laws of nature. (And no, a car is not a faster horse, but a GM horse could be. A horse on steroids would do as well, but that wouldn't help get rid of the manure.)
@@dogaarmangil Regarding the last statement, when you focus on the bigger context of transporting people from A to B, cars and horses competed for the same job. A jobs(to-be-done) lens is needed to transcend category. If we don't agree with this perspective, nothing I can say will change your point of view -- and that's okay :)
Sell the concept not the product. Just another loop hole to jump over the work. In real life this doesn't work. People hate when you fake demo them without a real product. The AI world did this and we callled it lying.
@@MingoDiMedici It’s actually business model design first, cust dev second, then the rest. When you rush outside the building too early, it's possible to find problems but the goal is finding problems worth solving. This is where idea/goal sizing is key step. Something I covered here: ua-cam.com/video/tcl8Gy5N654/v-deo.html
@@AshMaurya If you think proposing the idea of doing research before MVP, or in your case "demo" is novel insight, I think you failed to deliver the punchline.
Dont start making your final build because it's too risky and you dont have feedback to iterate. Got it. Dont make a MVP because entry level is low and you won't stand out to customers. Got it. Instead make a demo... Bruh what? As if a demo doesn't need to be built... And you say it's cheaper and faster than a MVP... then how tf will it be able to gather interest or sell more than a MVP which you said the issue for it was no interest from consumers due to too much competition (less time and money = less quality = less interest). There's no ''demo'' magic button. Either you iterate from shit products to decent or you take the gamble to build a final version straight away (or if you know what you're doing). Feels like you're just throwing a bunch of words at us without taking into consideration what they actually implies. The way you describe your ''demo'' would be a MVP with the upsides of a successful build. Doesn't make any sense.
Lost you there... the art of the demo is showing the smallest thing that makes the sale. This could be as simple as a verbal pitch to a set of screenshots or a picture. Elon Musk pitched the Tesla Roadster with a "photoshopped photo"... A far cry from building a working product.
The assumption that MVP is a rushed product is wrong ( 1:13 ) . Its the minimum viable product. As obvious. These fake advisors with fake accent is a curse for enterprises that subscribe to these junk videos.
Find a niche, define your customer audience, interact and get their problems (major problem), define a solution (not a product), show them and get it into their workflow and then build mvp
When you say define the solution and show it to them, do you mean draft out the flow on the paper?
@@allenlin2119 it depends. If you can make a scratchy working version quickly, make it.
Else explain them how you'll solve it like I'll give you an API for this, you can integrate , how it'll work etc etc
The most valuable, concise, easy-to understand and simple-to-execute information for early-stage founders to this day 👍
In summary, there's another loop before the "build", "measure", and "learn" loop we're used to, they're "Problem Discovery", "Solution Design", and "Mafia Offer".
You can view certainly view it that way. However, it see them as an outer loop made up of smaller build-measure-learn (experiment) loops. This only works if you don’t limit “build” to building a product but any artifact like an interview script, or demo, or offer.
@@AshMaurya thx to that I didn’t watchd the clip .
@@AshMaurya
Please discuss what you said in this comment in your newsletter.
"Don't limit " build" to building a product"
This understanding and advice is a piece of wisdom that came after years of building startups!!
❤❤❤
So many truth nuggets here. I love the T shirt- "When you market the problem, Customers automatically believe you have the solution" Christopher Lochead- Play Bigger author
An actual demonstration of this in the real world would be nice.Thanks
There is concept of 'demand' that goes beyond problems. They can have 1000 problems but that doesn't always help. Demand = Problem * Desire To fix * Ability To Pay. Market research to uncover problems and demand. Validate the demand with sales. If a demo doesn't make sense (like services-heavy solutions), then lean on a case study, either real or theoretical. Great video.
@@DouglasDrouillard Yes - nailing a problem is a great way to start a serious buying conversation, but it’s only the start.
Best description demand ever. Thank you.
I have just ordered your book, I enjoyed watching this video - I have a service based business, and I do some form of this as I tailor solutions.
It is incredibly helpful to hear this process articulated and defined so clearly. All the best and thank you.
That was really helpful, I started watching your videos, they are explanatory, in the same time and to the point , I like that
Very nice so happy you make this video! People needed to know that MVP model is broken for startups
At last! I just knew the MVP approach wouldn’t cut it anymore so I developed more complete first versions of my products using low code. This video offers a really good canvas for going to market. Great work!
Thanks. Super powerful and accurate to my experience. We’ve pivoted to sell as a service as we’ve thrown too much spaghetti at the wrong wall. Demo-Sell-Build is great advice.
Thanks to return to UA-cam content Ash! I love your NewsLetter. Gabriel from Brazil
Happy to learn from you once more, this has been taught by many content creators but your video explains it best with the needed steps to achieving the result.
This was great. You mentioned having the right customer interview process as being foundational. Can you discuss in more detail what constitutes a good customer interview? And how do you know when there's problem-solution fit?
This video came in at the perfect time. Super handy and I'm now a fan/follower. The expert knows the problem!
I am not from a tech background. I am a biology scientist. This made a complete sense to me. I will implement this in to my tech startup.
Thanks Ash Maurya
@@All-is-wellll-z5l glad it did
Great reframe of what worked previously and what doesn't now because of how conditions changed. Especially loved how the video progressed to link the concept of demo with a step by step way to think about execution as well. Thank you so much!
The old way works just fine. I’m in VC and we consistently see startups building and eventually growing their companies via proper customer discovery, MVP build, iteration toward PMF and then scale.
@@AudraGibson That explains it. This is a founder-first video aimed at saving bootstrapped founders precious time and energy getting to something that works without waste.
Not aimed at VCs collecting on the upside :)
@@kohkoh17 glad it connected
Very interesting ideas.
I've a big proponent of the lean business canvass for many years, I thought your use here was interesting.
As a 20+ year pre-sales veteran, you are spot-on. prospects/clients buy the demo, dream and promise first, we should stick to that concept as the precursor to any MVP.
That’s exactly what I did.
I had an idea, did some research on the niche, contacted some of my targeted audience, discussed the majors problems, offered my solution, they were happy with it, then I went on to build the demo.
My point in doing this is to have a good starting base then I would just iterate from there.
Essentially, you want to be sure you’ll have the right audience and are solving the right problems before investing your time and resources building that product/service.
Brilliant and practical, as expected coming from you Ash, looking forward to more!
Wished new this earlier! Can't wait to get the book.
Love the new video content quality Ash. Keep going. As a watch guy too, you are a man of culture as well.
@@alimamujee1912 Love the feedback - I try to do what I can to up the production level but its a never ending uphill journey with always more that could be done 😂
@@AshMauryayou got it dialed in
I couldnt get the whole idea... Please correct me if Im wrong
As per my understanding here it is mentioning about providing a DEMO to the client and sell that Demo to the client and then build the product...... fine it means, still you need a "Demo product" in your hand right? And that's what some of the companies considered as the MVP right? Can you please clarify....
You suggested us to create a demo instead of an MVP but what is the purpose of demo if the user cannot understand the product? What mode / method can be used to create a demo which allows user to understand and experience the product without us to actually make an MVP?
The 'customer-centric', 'problem-first' approach is not new by any means just another strategy actually common, just less mentioned. The concept of the 'mvp' is rooted in the lean startup method, aiming to reduce waste. My understanding is that it never intends to replace the former. Customer / problem discovery should always happen before you build anything. I too learnt this the hard way. My advice to anyone starting is to step back, spend time talking to your potential customers. There is no rush other than that created in your head...
@@NasserM_ Should happen and do happen are often far apart when going from theory to practice :)
How do you demo a hard tech without building a prototype first??
In other words, how will this strategy play out for hard tech?
As long as the hardtech is built on components that are already individually technically feasible, one can either assemble a single prototype or take a leap with early adopters. Tesla, Space X are examples of both.
The art of the demo is showing the smallest thing possible to get an early adopter to buy.
This is really thought-provoking! Pre-eminence is truly a superpower. I've witnessed its impact as a consultant, and it's the best position to be in. A question that came to mind while watching:
After identifying the customer's problem and pitching a demo, how do you keep them engaged and prevent them from seeking alternatives while waiting for your "Build" to be ready-especially if the problem is urgent and you've helped them understand it better?
Part of the answer is shortening the distance between the offer and MVP by reducing the scope and focusing on only what they need to realize the first value.
Second, you should ideally already know the alternatives, bring them up during the demo if they are real contenders, and demonstrate how your solution is still better.
This is a good breakdown. But what if you have a physical product? How would you demo something, then sell, then build it?
@@DannyBoy443 Tesla did this with their first car (roadster). Many kickstarter-like crowdfunding campaigns do this too. You fund the demo, not an actual product you get to test drive first.
@@AshMaurya That's Tesla though lol. They had the $ and leadership. Sorry but that isn't a great example Ash. I'm still in a bit of disagreement w/ you. And I haven't looked into Kickstarter. But don't you owe people back the $ they invested too?
@@DannyBoy443 I used Tesla because it's a well-known success story, and money and leadership alone seldom guarantee success. Do your research on crowdfunding, and you'll find tons more examples.
@@AshMaurya I hope so. Because the barrier to entry being low on most things, digitally or physically, exhausts me lol. Maybe business isn't for me.
FINALLY SOME SAID IT. THANK YOU FOR KNOWING THE REALITY OF TODAY
We missed you online and your wisdom
I've been online :) ... but yes, mainly focused here: leanfoundry.com
@@AshMaurya I subscribed to a newsletter.
This isn’t a new concept. You’re kind of talking in circles around what we already know to be true.
-Don’t build your mvp before you do proper customer discovery - that’s a no brainer. Use the Mom Test method to do so and focus on empathizing with your customer’s pain.
1- MVPs are still incredibly valuable for speed (being early or first to market does matter in many cases). If your customer doesn’t want it either they don’t recognize they have the problem, they can’t afford to fix the problem, or they don’t care enough about the problem to fix it. It means you’ve tried to fix something that isn’t a hair on fire problem. Which means you got your customer discovery incorrect (see the item 1, rinse and repeat).
2-If you are fixing a truly hair on fire problem, the solution doesn’t need to be close to a perfect product with all the bells and whistles. It just needs to be usable and solve the problem better than whatever the customer was doing before. Sometimes it’s building a mouse trap. Sometimes it’s building a better mouse trap.
3-Using a demo to secure sales the way you are describing it isn’t new. It’s a well known sales technique calling for”Selling the ghost”. It can be a very useful technique, but far from the only way to be successful with your startup.
@@AudraGibson Yes to all of that - yet in practice, that’s not what you’ll find. Most people still jump to solutions as step 1.
Theory and practice aren’t the same.
@@AudraGibson And, one of the most watched videos on MVP on UA-cam is from YC and the advice there boils down to - launch quickly, then iterate.
Can that work? Yes, but with statistically low odds. Is there a better way to raise those odds for founders, not investors? I think so.
Amazing and eye opening video.
Any video on the specific examples of it to enable lesser mortals like me
This made a lot of sense. Hopefully this will work in the AI-powered storytelling niche. I just subscribed. Thank you so much.
loved it, cant connect on linkedin it asks for email?
Great! What I’ve been saying but I am soo happy this is being voiced now! ❤
You are a gem
This was great! Just subbed.
Great content as always. The urge to build is so strong though!
It really is
Instant follow. Makes sense. Clear vidéo.
This was very insightful. Thank you!
That's an interesting point of view. Thank you!
Everyone has a different definition of “MVP” which is the core issue. We built an MVP in 1 week and had 1000 signups the first few days and in 6 months we have over 170k users and on track to double that by EOY. During that time we were constantly iterating on the product. We attribute our success to our razor focus on the best product our users want and nothing else. Building a product is a process, not a goal, which is what most people likely get hung up on when building an MVP.
Very true. Building the product is indeed a process and not a goal 👍
Demo - Build - Sell 🤩
Thank you Ash!
thank Ash
I thought you were suggesting an alternative to MVP when I started watching your video, but at the end, you're telling a slightly different process which is nothing but an MVP or in simple QC terms we call it the PDCA [Plan, Do, Check and Act] cycle. MVP is not a half-baked product, it's a push factor or a lean method to quickly launch a new brand with some viable products to gather market feedback and further iterate to develop the brand and products. With MVP we have launched more than two dozen brands in a few years, but unfortunately, we still have some brands who don't follow the MVP approach and are stuck in the drawing board since the pandemic. MVP and Iterative product development are still relevant in present times, otherwise, in 2014 itself we would have had the iPhone 15, isn't it? 😊Ramesh.
“If you follow the right process, you achieve the right results.” - The Toyota Way
Yes, I still advocate building an MVP, not stating with it as the first step.
In my definition, an MVP is not a crappy early prototype but a well researched and carefully built product which makes even the iPhone 1 an MVP - which is a specific example I use often.
Thanks for the video! This is interesting and comes in handy for me! Do you have something in more detail on how to go about creating what you define as a demo vs. going too far with a. MVP? I’m exactly at this stage but I‘m not a techie but a business/marketing guy, and had plans to build an MVP with Bubble. Do you provide more insight on how to go about this?
If you're a reader, my book goes into the entire process in great depth: runlean.ly/3e
There are also a couple of articles here: www.leanfoundry.com/topics/problem-solution-fit
I think there's a big difference between finding a solution to a problem you don't know and finding a solution to a problem you knowand experienced please and i think this video is for the first i would like to hear a take on the latter more
“Scratching one’s own itch” is a great source of ideas and I’ve started many products this way. Even then, just because you’ve encountered a problem first-hand doesn’t really qualify you as an objective customer because you’re also building a solution. Most typical customers don’t do that.
It’s a great question and I’ll create another video on this.
great video thank you
Love this ❤ And I totally agree
You gave your definition of an MVP, but not for a demo, so now I’m left confused about the differences between the two.
@@VisibleMRJ In my definition, an MVP is the smallest solution that delivers value. A demo is the smallest thing you show that promises value.
We've learned that MVP works very well for software apps.
What happens if someone buys based on the demo? What do you deliver to them then?
@@AakashMehta What type of product are you building?
If B2C take a down payment or preorder. I did this with my first book. Tesla did this with a car.
If B2B, move forward with the procurement process. By the time the pilot starts, 2-3 months will easily go by.
@@AshMaurya dev tools B2B.. as soon as they buy, they want sandbox access to start integration
@@AakashMehta, the quick fix here involves engaging developers a lot earlier when designing the tools vs. after building them. Frame the conversation around giving them a sneak peek of something you're launching and build an early access list.
So the Demo could be a mock up of the interface, with one verbally explainign what the customer will get? And then closing the sale if it's a Mafia offer.
yes
Thank you for the video! What do you think about an MVP when there is no competition on the market, or there is, but it's very expensive and not flexible, or only available in certain brands as an expensive proprietary solution?
I'd start by challenging the first statement - there is always competition or there is no market. If you can provide a specific example, that would help.
Nice video-completely agree.
Glad you enjoyed it
What would be the next step after you sold a "ghost demo", since you dont yet have the product to solve the problem?
Build the demo you just sold :)
If you sold to large company, they'll probably need at least 2-3 months to get themselves organized before the pilot.
If you're selling a B2C product, consider running a crowdfunding campaign.
Thank you for the video! I don’t think that you can test a B2C pricing model with a demo website unless you contact your leads. Many products offer free trial so users can try the full value proposition then decide to buy. I don’t expect users to click the buy button without trying the product which makes it impossible for me to know if my pricing is convenient. Wdyt?
A couple of things:
1. I don't advocate relying on a demo website but selling your first 10 customers face-to-face (irrespective of price point). Why? Fastest way to learn and overcome objections.
2. I'm not a fan of freemium... trials are okay but I'd recommend starting a paid trial with a money-back guarantee... same risk-reversal promise but it separates users (that will never pay you) from customers.
Double thanks for the clarification and the quick response Ash.
1- I was testing a Linktree like product last months. I tried your suggested approach and I phone called my potential users. Many of them were excited about the product after pitching. Then I was quickly faced to: I want to try it. At that moment, I was able to get an idea about the price point, however I quickly started wondering what can be my mvp since I pitched a version that needs few years of dev work also I was thinking if the number of people I spoke has statistical significance. How should we tackle this?
2- What is your advice when you use paid trial knowing that you don’t have a strong brand and/or social signals? Thank you!
Excellent and very useful Ash. #subscribed
Thank you. 💎 💎
Don you sell your T-Shirts on your website?
Not yet - we bundle them with our courses and I run givaways every now and then...
cool stuff!
A Demo or a Landing page is already a MVP because it helps you interacting with potential Customers to learn from them. Even a Wireframe can be Seen as MVP. The idea of starting with a demo is great but i disagree with the Statement: „Don‘t start with an MVP“. By the way the Titel is Great to get people Click on the Video 👌.
@@amadoubahentreprenariatdigital An MVP has different definitions and that isn’t 1) the original one or 2) what I many others subscribe to starting with there’s no product in a demo or landing page but an offer.
I call that out in the video and perfectly fine if you have a different definition. You could read the title as “Don’t Start With a Demo or Landing Page” which is only slightly better.
What a enlightening videl
Ash, your content is very, very high quality. If I may offer a suggestion, consider giving more concrete examples, ideally from personal experiences, to make this even more compelling. Keep it up!
@@oopskapootz7276 I’m intentionally trying the keep the videos under 10 mins but that’s a great suggestion for follow on case studies.
@@AshMaurya why 10min? If the content is useful and engaging, why limit it? I binge watched a ton of your content since my earlier comment and I have to say - I still believe in what I said above. Hope it helps and I wish you all success!
How do you create a product demo without a product to demo?
You're assuming you have to deliver a live demo of a working product. Why can't you show screenshots or slides, or a clickable prototype?
@@AshMaurya You can do this, but if you're an engineer acquiring, the skills to do this in a tool like Figma could take the same amount of time it would take to build the product. However, after the initial skills in Figma or Bubble are acquired, you can build the prototype in less time. I'm not a UI/UX designer so I wouldn't know.
@@calebomega3824 I am a (software) engineer and yes, used to think that way until I spent a few days poking around with those tools... You don't need pixel-perfect mockups for a demo.
Even if you prefer to code your product, you could start with the front-end before the back-end and start showing that before wiring everything up.
hope customer funding will be explained more in future videos
can you clarify what you mean by customer funding? Do you mean how to price a product and charge customers?
@@AshMauryacustomer funding you mentioned in Linkedin post "New way: Bootstrapping (not self-funding, but customer-funding)" can you tell more about this model. What is customer funding: customer commitment, upfront or investments from customers like crowdsourcing?
@@AshMaurya you mentioned in Linkedin post - "New way: Bootstrapping (not self-funding, but customer-funding)". Can you tell more about this new model and what is customer funding - an upfront payment, customer commitment or investments like crowdsourcing?
@@AshMaurya mentioned earlier in lkdn post - New way: Bootstrapping (not self-funding, but customer-funding). So what is customer funding? Upfront, crowdfunding or any other customer commitment?
@@RenatLotfullincustomer funding = sales
So depending on the product and price point, you get to pick the tactic: crowdfunding, down payment, advance payment, collect credit card, etc.
Hi Ash,
The video is very valuable and knowledge packed. But it lacks in packaging and presentation for sure. I can help you level up the video editing and thumbnail designs. Would you be open to discuss??
Ash is packaging actual MVP and rebranding it as a "demo"
@@madrasman8883 I’d suggest typing”what is minimum viable product” in your search engine of choice and reviewing the top results ;)
@@AshMaurya in case you didn't get it, the MVP currently on-ground is quite different from the actual/original intent of an MVP. I said your trying to reinstate it with the word Demo. If this is understood and you still differ, then we still are on different poles. I'm fine with that
@@madrasman8883 Got it - yes I misunderstood your original comment :)
I thought the demo was the MVP, how do you make a demo when you don't have the actual product to showcase? what's a demo by your definition? a figma prototype or something else?
@@hassen500 The art of the demo is showing the smallest thing that makes the sale.
Start with the lowest fidelity, then layer up only if/when needed e.g. verbal demo, screen shorts, video, clickable prototype, working prototype, etc.
I get what you're saying, but I think MVP still works if your software is highly innovative, i.e. if you have zero or very few direct competitors. In other words, it's still possible to stand out in the age of AI, because AI doesn't really shine at innovating.
In my opinion, an MVP is always about the UVP (unique value prop) which comes from being different, not better. So in other words all MVPs need to do this... The challenge is still finding a big enough difference that matters. Just because one thinks it so, doesn't make it matter (to customers). That's where the first 1-3 steps in the video come in.
@@AshMaurya I think the key aspect that you are leaving out here is innovation. My first comment was about the first part of your talk where you say that customers can easily switch because they have more choices than ever thanks to AI lowering production costs. But AI doesn't innovate, it only helps build more with the same team, so in a new/innovative product category there wouldn't be more products to switch to. About the second part of your talk: your argument is that a demo is leaner than an MVP, so it's better to start with a demo. Fair enough. In this 2nd part you are making the case that field interviews are needed to uncover customer needs. Again, I think your argumentation is leaving out the innovation aspect. Before the steam or combustion engine the drivers of horse carriages would probably have wanted stronger horses. Before the iPhone people probably would have wanted an iPod with a bigger storage. In other words, radical innovation never comes from customer surveys/interviews. The lean startup idea is a solid one, always great to hear more about it.
@@dogaarmangil@dogaarmangil Thanks for clarifying. I have one or two videos in the works to address these questions precisely.
One of the tenets I will present is that all innovation is about causing a switch from an old way to a new way. Causing a switch requires radical innovation but remember that the switch isn't from new to new but old to new. So even with iPods, iPhones, etc. the switching story was from tons of pre-existing alternatives (other mp3 players and smart phones and PDAs, for instance).
The other video channels a Steve Jobs' quote: "It's not the customer's job to know (or tell you) what they want." But with the right process (not surveys) it is possible to uncover where customers struggle and get to why. Designing a (new) solution to an old problem is ultimately the thesis I'll present. Isn't the automobile a stronger or faster horse?
@@AshMaurya Looking forward. Your position is interesting, but I'll disagree on a couple of points.
[1] For a customer the root motivation for switching is not necessarily innovation. For instance in a commoditised product category (project management software etc) people can switch to a lower-priced substitute.
[2] Field interviews and talking to a lot of people tends to dull the mind, that's exactly what mustn't be done to come up with radical innovation. Interviewing carriage drivers wouldn't have helped come up with the idea of a steam engine. OTOH if you want to build a service business and not a product business, then field interviews is exactly the right direction to go.
[3] About uncovering people's struggles: For most people life is what it is. Before the automobile people would have been perfectly content with horses and carriages, because that's all they knew. I think identifying problems/struggles and finding solutions is where small innovations lie. Radical innovation is all about finding new ways of using technologies and the laws of nature.
(And no, a car is not a faster horse, but a GM horse could be. A horse on steroids would do as well, but that wouldn't help get rid of the manure.)
@@dogaarmangil Regarding the last statement, when you focus on the bigger context of transporting people from A to B, cars and horses competed for the same job.
A jobs(to-be-done) lens is needed to transcend category.
If we don't agree with this perspective, nothing I can say will change your point of view -- and that's okay :)
I love it
I used to go to sleep listening to Jay Abraham
I THINK THIS IS MORE OK WITH SAAS think so
See “The 3 little pigs” 🐷Do not start with the Straw house… 😅
great info, keep the good way. inventor Dr.Osama bahudila
I just wanna say "daging" that's mean this content is valuable. 🎉 New subscriber
truee
Stupid.
All that preparation before creating a mvp is obvious.
Nothing new.
@@prashantmungare9428 So is common sense - although rare in practice ;)
Demo - sell - build 😂 damn, you might have saved my tens of thousands.
In India:
Do you have an MVP? yes
Do you have customers? yes
Do you have revenue? yes
How much revenue? xxx
Oh no!
Sell the concept not the product. Just another loop hole to jump over the work. In real life this doesn't work. People hate when you fake demo them without a real product. The AI world did this and we callled it lying.
Wilson Larry Davis Mary Brown Angela
More complications 😅
Customer development first.
MVP second.
@@MingoDiMedici It’s actually business model design first, cust dev second, then the rest. When you rush outside the building too early, it's possible to find problems but the goal is finding problems worth solving. This is where idea/goal sizing is key step. Something I covered here: ua-cam.com/video/tcl8Gy5N654/v-deo.html
Start with wathing others. And dont do it that way.
Ok so you’ve rebranded MVP as Demo, so that you can create content 😂
and you've missed the punchline... even if you define mvp as demo, while better, it's still not the optimal place to start
@@AshMaurya If you think proposing the idea of doing research before MVP, or in your case "demo" is novel insight, I think you failed to deliver the punchline.
@@remusomega more power to you if you're already doing this... the other comments here and my experience with founders say otherwise.
@anon-o8y this content is already in the latest edition of Running Lean: runlean.ly/3e
Dont start making your final build because it's too risky and you dont have feedback to iterate. Got it.
Dont make a MVP because entry level is low and you won't stand out to customers. Got it.
Instead make a demo... Bruh what?
As if a demo doesn't need to be built...
And you say it's cheaper and faster than a MVP... then how tf will it be able to gather interest or sell more than a MVP which you said the issue for it was no interest from consumers due to too much competition (less time and money = less quality = less interest).
There's no ''demo'' magic button. Either you iterate from shit products to decent or you take the gamble to build a final version straight away (or if you know what you're doing).
Feels like you're just throwing a bunch of words at us without taking into consideration what they actually implies. The way you describe your ''demo'' would be a MVP with the upsides of a successful build. Doesn't make any sense.
Lost you there... the art of the demo is showing the smallest thing that makes the sale. This could be as simple as a verbal pitch to a set of screenshots or a picture. Elon Musk pitched the Tesla Roadster with a "photoshopped photo"... A far cry from building a working product.
Just scale up production and sell it to everyone who wants it, why should only the fattest and sickest have access to life-improving medication?
Have you made anything other than demo?😂
I'd answer yes. You can look them up.
What's this crap!
The assumption that MVP is a rushed product is wrong ( 1:13 ) . Its the minimum viable product. As obvious. These fake advisors with fake accent is a curse for enterprises that subscribe to these junk videos.
NO, it really depends in the solution if its going to be a demo or mvp.
depends on... ?