The minimum viable product process:
1. Technical Diligence
The key to making successful investment decisions rests on transparent answers to a few very important questions:
- What is the probability of the technology development being successful?
- What can be done to increase this probability?
This is achieved through:
- Technical discovery: What is the innovation and what real-world problem is it intended to solve?
- Technical audits: Is it actually built on solid science or does the researcher have “rose-colored glasses” which are making them biased?
- Data analysis: We hire professional scientists and engineers to ensure complete data integrity in the light of building a final product, rather than just being content with research for research’s sake. We do this so that the funding source has a truly objective look at the technology from the beginning. This massively de-risks the investment on the front end.
- Market analysis: Is this a technology in search of a market, or is the market screaming for a solution? Does the burgeoning technology align with these needs? How should the innovation be pursued and positioned to ensure that the data matches the need.
- Execution: Academic researchers focus on publishing, but the market demands function. This means the gap starts when R&D teams can’t execute and get stuck in research mode. Our team guides this process through seasoned entrepreneurs and professional process engineers coming together to extract the real story and solve that problem. We hire driven specialists in niche expertise fields to identify and help solve those issues which need to be resolved in order to produce this technology in the real world.
- IP and competitor investigation: Even the best idea in the world is subject to blockage from what’s called a “Crowded Field.” We take a holistic, product-focused approach to identify potential ways around other parties’ intellectual property (IP), establish trade secrets, and get around others’ patents.
- Next steps planning: With all research in hand, does it still look like a viable endeavor? If so, is the assistance of a product development team needed to execute? Not a problem, that’s in Stage-2.
- Proven: We find professional researchers on the case to sniff out even the slightest discrepencies in datasets, ensuring that you are investing in the truth, not vaporware.
- Our goal is to make sure the technology you are investing in, is the real-deal, and not “hope-ium.”
2. Minimum Viable Product (MVP) Development
To “bridge the gap” from an idea and a real world product requires answers to a few very important questions:
- Is this innovation in search of a market, or is the market in search of a solution this innovation provides?
- Can this innovation deliver value to the market at a pricepoint that supports solid business fundamentals?
- Project scope assessment: Create a detailed product development plan and then work backward to determine the budget, timeline, and resources required to get around IP blocks, develop prototypes, manufacture at scale, and align with market needs.
- Team building: With the scope in place, determine which assets are required to help discover how the innovation can be used in the real world as an MVP. Assemble a team of experts to oversee the many moving parts involved in bringing your groundbreaking innovation to life depending on the technical disciplines required.
- Discover & deliver the MVP: Experienced startup people know, that the most important thing you can focus on, is diligent execution of your first bare-bones product. Once your project makes it through the technical audit and business foundation milestones, it can expand in scope and resources, to put a product development team on the case, to identify and execute the development of what’s called the Minimum Viable Product.
- Prototyping: This is where the rubber meets the road. Your technology takes physical form and repeatable test results are generated to validate the initial hypothesis, drive case studies, find and fix failures, and optimize for mass production.
- Real-world product development: Real-world functionality and manufacturability issues are imperative to resolve as the project matures from prototype to full-fledged product.
- The goal is to get to a Minimum Viable Product as quickly and effectively as possible so you can earn first revenues during your early valuations to maximize original investor equity before ever entertaining any dilutive rounds of funding or earning first revenues.
3. Go-To-Market Strategy
To craft the best story, it’s necessary to conduct the following:
- Strategy: To maximize the impact of your innovation to the target market, determine which marketing channels to pursue—whether that’s direct consumer adoption (B2C), industry adoption for the purpose of revolutionizing existing processes (B2B), or perhaps both and then create a roadmap and budget to penetrate these markets via highly targeted campaigns.
- Branding: Choosing a brand that speaks directly to your customer is key. Translate the obscure language of engineering into targeted value communications of value in easy-to-understand concepts, taglines, language and visuals.
- Marketing: Create custom creative content to live in a digital environment, which levers the power of professional content curation and social media marketing platforms.
- Original Content: With the narrative and story in motion, creating and launching documentaries which travel the journey of your vision from inception to catalyzing event.
- The goal is to get your story to connect to your target audience in a deeply emotional way so you can build massive brand equity to support increasing awareness and revenues, valuation increases and brand equity.