Principles of a lean startup – 4 Minimum Viable Products

Today´s topic is MVPs – minimum viable products.

Eric Ries opens his chapter with a descriptive example. He is talking about Groupon and its success as one of the fastest-growing companies of all time.

They didn´t start out successful at all. To make it short (for further details take a look in his book): At first Andrew Mason intended his company to become a “collective activism platform” called The Point. Bringing people together to solve problems they couldn´t solve on their own. After his first activities were disappointing he had to change and keep the new product simple – a minimum viable product.

Here his story told by himself:

“We took a WordPress Blog and we skinned it to say Groupon and then every day we would do a new post. It was totally ghetto. We would sell T-shirts on the first version of Groupon. We´d say in the write-up, “This T-shirt will come in the color red, size large. If you want a different color or size, email that to us”. We didn´t have a form to add that stuff. It was just so cobbled together. Continue reading