How do you test an MVP?

There are many techniques you can employ to test your MVP, but the first step is always the same: You need to create a list of hypotheses that you need to validate before you jump into any customer research or testing effort.  A hypothesis is anything that you think is true, but don't have hard facts or empirical evidence to prove it is true. 

Once you have a list of hypotheses you can think about ways to validate them in the field.  Some hypotheses can be tested via good, old fashioned primary market research: Interviewing customers.  You would want to bring the MVP (the smallest possible thing that allows you to complete one build-measure-learn cycle) - in many cases this might be a printout or a landing page or some mockup of what a software interface might look like. This is called a "stimulus" in primary market research. You can take this to a customer, and talk through the product to get a sense of what the customer thinks of your current idea.

This method works well when you are testing just the product concept itself and gauging interest / getting a sense of relative importance of features / trying to understand the end user's mindset and workflows.  This is not a great way to test a business model. To test the economic viability of a product, you need to either charge money by making an outright offer and close a sale (thus proving the customer's willingness to pay), or get a sense of their strong interest by closing a pre-sale.  A landing page test is a very effective way to test purchase intent.

Was this article helpful?
0 out of 0 found this helpful


      This website provides general information related to legal and business matters. It is intended for educational purposes only. This website does not and is not intended to provide legal advice. Although we take great care to make sure that all of our information is accurate and useful, if you have a specific issue for which you need actionable advice, please come to the Martin Trust Center in person to speak to one of our Entrepreneurs in Residence or consult a licensed attorney or other professional. No attorney-client, advisor, or other confidential relationship exists or will be formed between you and the Martin Trust Center or the Massachusetts Institute of Technology.
Have more questions? Submit a request

Comments

Powered by Zendesk