30 Sep '13, 7am

Recently, taught students from SUTD & here's a complete post with teaching notes on Minimum Viable Product

Recently, taught students from SUTD & here's a complete post with teaching notes on Minimum Viable Product

The allure of a good plan, a solid strategy and a thorough market research for a major corporation mapped to a startup is a perfect trap to the failure of a startup. It does not mean that you do not plan at all. It just means that you have to plan with two frames of reference: survival and long term. The first frame of reference is survival which pushes the entrepreneur to work with limited resources and build a product to attract a customer base for the company (and hopefully, the customers pay too). The survival mode requires short term thinking and forces the startup team to think within a timeline of 3-6 months. The second frame of reference is strategic long term thinking which takes the entrepreneur off the survival mode and imagine an ideal world of unlimited possibilities, i.e. how we can build this product to a final form that enjoys customer success and disrupt t...

Full article: http://www.bernardleong.com/2013/09/30/minimum-viable-pro...

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