Why MVPs No Longer Work
Building a SaaS With an MVP No Longer Works. Do This Instead.
The traditional approach of launching a Minimum Viable Product (MVP) is becoming outdated.
The Traditional MVP Approach
The idea behind building a Minimum Viable Product (MVP) has been synonymous with the startup culture.
New founders are advised to create and release an initial version as quickly as possible, then refine their product based on customer feedback
This method was designed to save months of building a product that nobody wanted.
Changing Market Dynamics
However, the landscape has shifted dramatically.
The barriers to entry are lower than ever, and customers have a plethora of options.
This abundance of choices means that a half-baked MVP is no longer enough to capture and retain customer interest.
If your initial offering doesn’t deliver immediate value, potential users will simply move on to a competitor without giving feedback.
Redefining the MVP
Multiple Definitions of MVP
MVP is a term with a few definitions.
Some say it is the first iteration of a working product,
while others consider an MVP anything that helps you validate directly with customers — like prototypes and landing pages.
This range of definitions can lead to an inaccurate measurement of our hypotheses and the meaning behind its results.
To avoid confusion, let’s define it strictly for this article as:
An MVP is the first working version of your product.
The Shortcomings of the MVP
When The MVP Worked
There was a time when starting with an MVP was very effective.
There were fewer products 5–10 years ago that were begging for consumer attention, which allowed even a very rough MVP to attract early users willing to provide good feedback.
This iterative process allowed startups to refine their offerings into something market-ready.
Customer Expectations Today
Today, the game has changed. Customers are less forgiving and more demanding.
They expect polished, fully functional products right out of the gate.
A subpar MVP often results in users abandoning your product before you even have a chance to iterate.
The cost of losing these potential customers is too high.
The New Strategy
Demo Presentation vs. MVP
Instead of running to build an MVP, start by understanding the pains and desires of your customers better than them themselves.
If you can understand your customers first through a few customer discovery interviews
and then sell your product over a demo presentation call, they will be more likely to trust your solution and offer valuable feedback.
This approach gives you the ability to observe customer interest and gather feedback without wasting time building something no-one asked for.
Real-World Examples
Crowdfunding campaigns are a perfect example of this method in action.
When you back a project on Kickstarter or Indiegogo, you’re essentially buying into a demo.
The creators use this early interest to fine-tune their product before going into a full-scale production, minimizing risk and validating there’s demand in the market.
Creating a Convincing Demo Presentation
Essential Elements of a Demo Presentation
A strong demo presentation should clearly communicate your value proposition and highlight the benefits of your product.
It doesn’t need to be fully functional, but it must be convincing enough to spark interest and gather feedback.
Include key features that address your customer’s problems and demonstrate how your product can simplify their lives.
Testing Key Business Assumptions
Your demo should allow you to test:
Your unique value proposition
How the market reacts to your solution
Your pricing model
If your demo can confirm these aspects, you’re well-positioned to move forward with full development.
This approach ensures you’re building something that people find valuable and are willing to pay for.
Customer Discovery Conversations
Internalizing Customer Problems
To build a product that truly connects, you need to deeply understand your customers’ issues.
This goes beyond simple surveys or surface-level chats; it involves uncovering the root causes of their pain points.
The better you internalize their struggles, the more effectively you can tailor your solution to meet their needs.
Techniques for Effective Customer Interviews
Conducting impactful customer interviews is crucial. Ask open-ended questions to encourage detailed answers.
Listen more than you speak and identify recurring issues in your customers’ feedback.
This qualitative data is essential for shaping your product. Aim to interview a diverse mix of your target market to get a well-rounded perspective.
The Power of Deep Customer Insight
Not Just a Solution, The Right Solution
When you fully understand your customers’ problems, designing the right solution becomes much easier.
You’re not guessing; you’re directly addressing specific needs and challenges identified through your research.
This focused approach increases the chances that your product will be well-received and effective.
Building an Irresistible Offer
This deep understanding also helps you create a compelling offer that customers find hard to refuse.
They will see you as an expert who understands their problems better than they do, making them more likely to trust your solution.
A well-crafted offer, backed by thorough customer research, can turn prospects into loyal customers.
Key Takeaways
The traditional MVP approach is no longer enough in today’s competitive landscape. By redefining what an MVP means and focusing on deeply understanding customer problems, you can create more effective and compelling products.
The new demo presentation approach lets you validate your ideas with less risk and greater accuracy.
If you are thinking of building a SaaS you can schedule a free consultation call with me HERE
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