HomeAboutPodcastsBlogsTestimonialsContactimageget in touch

Blogs and Casestudies

image

6/13/2024

img

By Benjamin Igna

6/13/2024

Minimum Viable Product (MVP) VS Product Market Fit (PMF)

Minimum Viable Product (MVP) and Product Market Fit (PMF) are two important concepts in the area of product and business model development. Together, they form the core process for bringing a successful product to market. MVP is the first step and PMF is the ultimate goal.
MVP is the fundamental concept of developing the minimum set of features and functionality that a product must have in order to be valuable, usable, feasible and profitable.

Eine sehr vereinfachte Darstellung des Weges von der Idee zu Product Market Fit
simplified view on MVP/PMF


"As good management consultants do, I'll just invent a new acronym here"
Let's call it the: PUFV method💥, which stands for 🤑Profitable, ❤️Usable, 💪Feasable and 📈Valuable. It is important that the MVP meets these criteria to ensure that it meets the needs of customers and is profitable for the company.
To achieve the right scope for the MVP, companies need to go through various learning cycles and validate assumptions to ensure it is successful in all four categories.

These include but are surely not limited to: The creation of user prototypes, Live data prototypes , Face-to-face interviews, A/B tests, etc.
Through continuous learning, companies need to prove quickly and efficiently that their MVP is viable and has potential.
Once the MVP has been developed and all four categories have been met, it is time to focus on PMF (Product-Market-Fit). The PMF phase is the process by which companies find the best sales and go-to-market strategy to successfully bring the product to market.
This process often requires a lot of testing and experimentation to find the best strategy. B2B or B2C? Direct user approach or rather customer approach? Who are our target groups in sales? Where is our point of sale? etc.
Similar to the PUFV method, the development of product-market fit is about carrying out tests and, as Marty Cagan says, collecting "evidence" in order to be able to scale safely. One way to back this up with figures would be something like monthly recurring revenue (MRR).
Overall, developing an MVP and achieving PMF is a constant learning cycle where companies need to constantly prove and adjust their assumptions. I like to call the phase leading up to Product Market Fit "Discovery", and it leads into the "Delivery" phase, where companies need to build their marketing and sales strategies and successfully bring the product to market. But more on this in another article.

image
image
image

11/4/2024

Dynamic Shared Ownership Transformation at Bayer

Dynamic Shared Ownership (DSO) is an advanced organizational model that aims to break down traditional hierarchies in companies, promoting a more inclusive, democratic form of participation and ownership. Described in detail in Gary Hamel and Michele Zanini's book Humanocracy, this concept proposes a radical departure from rigid, top-down corporate structures to create an environment where every employee is treated not only as an executor but as a co-creator and co-owner.

Learn More
image

10/23/2024

From Project to Product at Palantir

Companies are shifting from project-based business to product-organizations to achieve higher margins, easier distribution, and better scalability. I had the chance to interview two ex Palantir employees and ask them a little about how Palantir transitioned from Project to Product.

Learn More
image

10/14/2024

The Knowledge Centric Perspective

In the fast-paced world of software development, understanding how to optimize processes is crucial for engineering managers. One promising approach is the knowledge-centric perspective, which focuses on the vital role of knowledge in driving efficiency and productivity. At the heart of this perspective is Knowledge.

Learn More
image

8/30/2024

Kaizen at Honda

Ive found a 50 year old motorcycle in front of a beer garden around my home town. which led me to the greatest rabbithole about a company since i wrote about Lockheed. This time, it about Honda. But lets get back to where things started. Manufacturing.

Learn More
image

6/13/2024

Back to the roots of agility

Agile methodologies such as Scrum and Kanban have become increasingly popular in recent years, especially in software development.

Learn More

How can I help?

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
men-with-cup