MBA1475 Q&A Wednesday: How do I create an MVP for my physical product?

Always, always test the MVP – no matter what you’re selling. If you don’t know, the MVP (Minimum Viable Product) is the first iteration of a product you can sell. It’s the barest-bones, cheapest-to-produce version of something you can still sell at a profit, to test the market potential of your idea in the real world. And you should always start with one. It’s easy to create an MVP for a service or digital product. With physical goods…you just need the right resources. It’s Q&A Wednesday, and we’re helping one listener get their first units out the door. As it turns out, it’s cheaper and easier than ever to manufacture – and not just by outsourcing. Yes, manufacturing locally is an option, depending on what you’re making. It might even be a better option than good ol’ China. Today, we’ll give you the information and resources necessary to sell your 1.0 like a smart, lean startup. Plus, we’ll explain how you can start pre-selling your product before a single unit leaves the assembly line. We’ll also explore the creation of your MVP as a marketing asset. Get the gears turning – literally, in this case. Click Play! To submit your questions, visit 100mba.net/q . SUBSCRIBE YouTube | Apple Podcast | Spotify | Podcast Feed Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.