{"id":1736,"date":"2023-07-20T10:12:55","date_gmt":"2023-07-20T07:12:55","guid":{"rendered":"https:\/\/lasoft.org\/blog\/?p=1736"},"modified":"2025-10-24T15:44:59","modified_gmt":"2025-10-24T12:44:59","slug":"testing-your-mvp-ideas-and-hypotheses","status":"publish","type":"post","link":"https:\/\/lasoft.org\/blog\/testing-your-mvp-ideas-and-hypotheses\/","title":{"rendered":"Testing Your MVP Ideas and Hypotheses"},"content":{"rendered":"

We already know that good digital products take time to implement, and good beta versions of a product usually cost $100k+. You may have an amazing idea, but it will fail if the market does not accept it.<\/p>\n

\t\t\n\t\t\t\n\t\t\t\n\n\t\t\t\n\t\t\t\n\n\t\t\t\n\t\t\t\n\t\t\t\n\n\t\t\t\n\t\t\t\n\t\t\t\n\n\t\t\t\n\t\t\t\n\n\t\t\t\n\t\t<\/picture>\n<\/a><\/p>\n

There are 3 main risks that you have to consider while making a list of your hypotheses.<\/p>\n\n\n\n\n\t\n\n\t
Technology Risks<\/th>Problem vs Market Fit Risks<\/th>Business model Risks<\/th>\n<\/tr>\n<\/thead>\n
We can\u2019t build and deliver what is expected. The technology is not available, or the business can not get access to the required API or data.<\/td>Your potential users are not very interested in your solution. You can not reach, acquire or retain enough users.<\/td>Your startup can not generate enough revenue, users are not willing to pay enough for the product, or the revenue is not enough to cover the business-related costs.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n

The good news is that there are a number of not expensive tests. You can get users feedback before investing a lot into full-scale product development. Some people call this approach testing with low-fidelity MVP<\/a>. There are three things you will need to do right in your low-fidelity MVP:<\/p>\n

    \n
  1. Specify and pivot your idea.<\/li>\n
  2. Reach out to your audience as soon as possible.<\/li>\n
  3. Collect and validate feedback and results.<\/li>\n<\/ol>\n

    How to explain your MVP idea to the potential audience<\/h2>\n

    At the Idea stage, you do not have a validated business model, however you still need to explain your ideas to the team, investors and potential users. Usually you use one or a few following tools to do this:<\/p>\n

      \n
    1. \n

      Product Brief<\/h3>\n<\/li>\n<\/ol>\n

      A product brief is a concise document that outlines the key features, benefits, target audience, and unique selling propositions of your MVP. It provides a high-level overview of your product idea, allowing you to effectively communicate its value proposition. A product brief typically includes information about the problem you aim to solve, the solution you propose, and the intended market.<\/p>\n

        \n
      1. \n

        Prototype Presentation<\/h3>\n<\/li>\n<\/ol>\n

        Utilizing a prototype is an excellent way to showcase the functionality and user experience of your MVP. By creating a visual representation of your product, you can give your potential audience a tangible sense of how it works. During a prototype presentation, you can walk your audience through the key features, interactions, and workflows, enabling them to visualize the end product and provide valuable feedback.<\/p>\n

          \n
        1. \n

          Business Model Design<\/h3>\n<\/li>\n<\/ol>\n

          While you may not have a fully validated business model at the idea stage, it is important to convey your understanding of how your MVP will generate value and revenue. Creating a business model design allows you to outline your key revenue streams, cost structure, customer segments, and distribution channels. This tool helps potential investors and stakeholders grasp the potential viability of your product idea and the underlying business logic.<\/p>\n

            \n
          1. \n

            Landing Page<\/h3>\n<\/li>\n<\/ol>\n

            A landing page serves as a simple yet effective way to introduce your MVP idea to a wider audience. It typically includes a concise description of the problem your product aims to solve, its key features, and an invitation for interested users to sign up for updates or early access. A well-designed landing page can generate interest, capture leads, and provide a platform for potential users to engage with your product idea.<\/p>\n

              \n
            1. \n

              Explainer Video<\/h3>\n<\/li>\n<\/ol>\n

              An explainer video is a dynamic and engaging tool to communicate your MVP idea effectively. It combines visual elements, storytelling, and concise messaging to convey the core value proposition of your product. An explainer video can capture the attention of your audience and provide a memorable and impactful overview of your MVP. It is particularly useful for social media platforms and websites.<\/p>\n

                \n
              1. \n

                Explainer Email<\/h3>\n<\/li>\n<\/ol>\n

                Sending an explainer email to your target audience, including potential users and investors, allows you to provide a more detailed introduction to your MVP idea. This email should highlight the problem you aim to solve, explain the unique value proposition of your product, and outline the benefits users can expect. Including visuals, such as screenshots or concept art, can further enhance the clarity of your message.<\/p>\n

                By utilizing these tools and strategies, you can effectively communicate your MVP idea to your potential audience, garner interest, gather feedback, and build anticipation for your product. Remember to tailor your communication approach to the preferences of your target audience and emphasize the key aspects that differentiate your product from existing solutions in the market.<\/p>\n

                The goal of this step is to define the main idea behind your product, explain what problem the product will solve, and prepare a business model which still be un-validated yet.<\/p>\n

                Form a list of your hypotheses and questions<\/h2>\n

                Un-validated business models are usually based on a good portion of un-validated hypotheses which we should prove or disprove. You do not have to test every hypothesis as a test will take time and will cost you from $1,000-$5,000.<\/p>\n

                  \n
                1. Ask experts\u2019 opinions.<\/strong> Make a list of your product related hypotheses, prioritize them and involve experts in the room and try to answer as many of them as you can. For those hypotheses, which can not be answered easily by experts, you should be reaching out to your potential users.<\/li>\n
                2. Test the most important first.<\/strong> Prioritize again, and test only critical and those which do not have real market evidence.<\/li>\n<\/ol>\n

                  \t\t\n\t\t\t\n\t\t\t\n\n\t\t\t\n\t\t\t\n\n\t\t\t\n\t\t\t\n\t\t\t\n\n\t\t\t\n\t\t\t\n\t\t\t\n\n\t\t\t\n\t\t\t\n\n\t\t\t\n\t\t<\/picture>\n<\/a><\/p>\n

                  It is better if you assign a person to do those tests and experiments and will set a very specific deadline.<\/p>\n

                  \t\t\n\t\t\t\n\t\t\t\n\n\t\t\t\n\t\t\t\n\n\t\t\t\n\t\t\t\n\t\t\t\n\n\t\t\t\n\t\t\t\n\t\t\t\n\n\t\t\t\n\t\t\t\n\n\t\t\t\n\t\t<\/picture>\n<\/a><\/p>\n

                  Reach your audience<\/h2>\n

                  There are several modern tools you can use to reach your audience:<\/p>\n