How to avoid the MVP Trap (Why "Sell-Learn-Build" trumps "Build-Measure-Learn")

As an early-stage startup founder or product team member, the path from idea to successful product will always be fraught with challenges.

In my experience, one of the most problematic - and often outright-damaging - terms in the space is 'MVP'.

What's wrong with MVPs?

The concept of an MVP, while well-intentioned, often leads startups astray.

Many founders interpret it as building a stripped-down version of their envisioned final product (I've frequently heard terms like "shitty first version" used to describe an MVP). 

This misinterpretation always results in wasted time, resources and missed opportunities to truly understand customer needs.

The primary issues with the traditional MVP approach include:

1. Over-engineering: Teams often build more than necessary before validating core assumptions.
2. No true proof or validation: The MVP is not treated as a clearly defined experiment, with the objective of delivering rapid, validated learning, from a specific target audience. If not devised as an experiment, with success/failure carefully measured, teams will not learn much of value from the process. 
3. Delayed feedback: Building first means you're not getting crucial customer input early enough.
4. Sunk cost fallacy: After investing time and resources into building, if only for a few weeks or months, teams become reluctant to throw anything in the bin. 

Instead of falling into the MVP trap, let's explore a more effective approach: "Sell-Learn-Build."

Why selling (NOT BUILDING) is your number 1 priority

Learning velocity is all that matters at the start (quantity of output is irrelevant)

In the early stages of a startup, your primary goal should be to learn as much as possible about your market, customers, and value proposition.

The quantity of code written or features built is far less important than the insights gained.

By focusing on selling first, you:

• Validate customer interest before investing in development
• Gather real-world feedback on your value proposition
• Identify potential roadblocks or objections early

Reducing risk

Selling before building significantly reduces the risk of creating a product no one wants. It allows you to:

• Test market demand with minimal investment
• Identify your ideal customer profile
• Refine your messaging and positioning

Reducing cost

Building a product is expensive, both in terms of time and money. By selling first, you can:

• Minimise upfront development costs
• Allocate resources more efficiently based on validated needs
• Potentially secure early customers or investors to fund development

Reducing complexity (= speed)

Starting with sales forces you to distill your idea to its essence, which:

• Helps you focus on core value rather than nice-to-have features,
• Allows for faster iterations and pivots, and
• Simplifies your initial offering, making it easier for customers to understand and buy

Key components of the "Sell-Learn-Build" approach

1. Present your idea or prototype to potential customers
2. Gather immediate feedback
3. Quickly adjust your approach based on insights
4. Repeat the process

This cycle can happen multiple times per week, or even per day, dramatically accelerating your learning and improving your chances of success.

Higher chance of product-market fit

By prioritising selling and learning, you're more likely to achieve product-market fit because:

• You're constantly validating your assumptions with real customers
• Your product evolves based on actual market needs, not just your initial vision
• You can identify and capitalise on unexpected opportunities or use cases

Implementing "Sell-Learn-Build"

To effectively implement the "Sell-Learn-Build" approach:

1. Develop a clear, concise pitch for your product idea
2. Create simple visual aids (e.g., mockups, wireframes) to illustrate your concept
3. Reach out to potential customers for conversations
4. Present your idea and gather feedback
5. Analyse feedback and iterate on your concept
6. Repeat steps 3-5 until you have strong validation
7. Begin building the most critical features based on validated learnings

Start with a clear value proposition

Your value proposition is crucial. It should clearly articulate:

• Who your target customer is
• What problem you're solving
• How your solution is unique or better than alternatives

Refine your value proposition based on feedback from potential customers. Be prepared to evolve it as you learn more about your market.

Engage potential customers early

Don't wait to start conversations with potential customers. Begin engaging them as soon as you have a basic concept. This early engagement:

• Helps you refine your idea based on real-world needs
• Builds relationships that can lead to early adopters or even investors
• Provides valuable insights into your target market's pain points and desires

Your priority should be a "Minimum Viable Offer" - not an MVP

Instead of focusing on building a minimum viable product, concentrate on creating a Minimum Viable Offer (MVO).

An MVO is the smallest offering that delivers value to customers and enables you to start learning.

Key components of an MVO

1. Clear value proposition
2. Basic visual representation of your solution
3. Pricing structure (even if preliminary)
4. Simple way for customers to express interest or make a commitment

Create a basic prototype or mockup

While you don't need a fully functional product, having a visual representation of your idea can be incredibly helpful. This could be:

• A slide deck (use Canva, Gamma or Tome)
• Wireframes or sketches (Use Miro or Figma)
• A clickable prototype (using tools like Figma)
• A landing page describing your product (use Carrd to get it live in just a few hours)

The goal is to make your concept tangible enough for potential customers to provide meaningful feedback.

Don't neglect pricing

Pricing is an integral part of your offer. Don't shy away from discussing it with potential customers. Early pricing conversations can:

• Validate willingness to pay
• Help you understand the perceived value of your solution
• Inform your business model and financial projections

Be prepared to adjust your pricing based on feedback and market realities.

In closing...

The "Sell-Learn-Build" approach offers a more effective path to startup success than the traditional MVP model.

By prioritising learning and customer engagement over early product development, you can:

• Validate your ideas more quickly and cost-effectively
• Reduce the risk of building something nobody wants
• Increase your chances of achieving product-market fit

Remember, in the early stages of a startup, your goal is not to build a perfect product, but to learn as much as possible about your market and customers. 

Get in touch

I'd love to hear your thoughts about this. What have I missed? What have I got wrong? What questions, concerns or otherwise are keeping you up at night that I might be able to help with? 

Please connect with me on socials and let me know, or book in a free discovery call with me.