Synergy between MVP and MPS: Key to Startup Success

Building a successful startup is a challenging task, and entrepreneurs need to consider several factors to make it successful. Two critical elements that can make or break a startup are the product loop and the sales loop. In this blog post, we will explore how the synergy between MVP (Minimum Viable Product) and MPS (Minimum Viable Sales) can help create a successful startup.

 

The Product Loop: MVP

The product loop starts with the MVP (Minimum Viable Product). MVP is the most fundamental version of a product that can be built to validate the market demand for it. MVP focuses on delivering a product that solves a problem for the customer and does not have all the features and functionalities that the final product will have.

The MVP loop involves four essential steps:

1. Ideation

The first step in the MVP loop is ideation. The entrepreneur comes up with a product idea that solves a customer's problem. This step also involves conducting market research to understand the target audience and their needs.

2. Prototype

The next step is to build a prototype of the product. This can be a simple version of the product that solves the customer's problem in a basic way. The prototype is built to test the product's viability and to get feedback from early adopters.

3. Test

In this step, the entrepreneur tests the product with early adopters. Feedback is collected to understand how the product is solving the customer's problem and what features are necessary for the final product.

4. Iterate

The final step in the MVP loop is to iterate the product based on the feedback received in the testing phase. This loop involves making changes to the product to improve its functionality and usability.

The MVP loop is focused on building a product that solves a customer's problem while minimizing costs and maximizing efficiency. The product loop is critical to startup success, but it cannot work alone. The sales loop is equally important.

 

The Sales Loop: MPS

The sales loop starts with MPS (Minimum Viable Sales). MPS is the process of selling a product to the first paying customers. It involves identifying and targeting early adopters and convincing them to buy the product.

The MPS loop involves four essential steps:

1. Listen

The first step in the MPS loop is to listen to the customer's voice. The entrepreneur needs to identify the customer's pain points and understand what they need.

2. Engage

The next step is to engage with potential customers and educate them about the product. The entrepreneur needs to understand what motivates the customer to buy and tailor the sales pitch accordingly.

3. Close

The entrepreneur needs to close the sale by making the customer understand the value of the product and how it solves their problem. It is critical to close the first sale to validate the product's viability.

4. Iterate

The final step in the MPS loop is to iterate the sales process based on feedback from the first paying customer. This loop involves making changes to the sales pitch, messaging, and targeting to improve the sales process's efficiency.

The sales loop is critical to startup success as it validates the product's viability and helps build a loyal customer base.

 

The Synergy between MVP and MPS

While both the product loop and the sales loop are essential to startup success, they cannot work alone. The synergy between MVP and MPS is what makes a startup successful.

1. Customer Focus

The synergy between MVP and MPS is customer focus. MVP and MPS are designed to solve the customer's problem and provide value to the customer. The MVP loop focuses on building a product that solves the customer's problem, while the MPS loop focuses on selling the product to the customer.

 

2. Iteration

 

Both the MVP and MPS loops involve an iterative process. The MVP loop is about building a product that solves the customer's problem, while the MPS loop is about selling the product to the customer. Both loops require an iterative process of testing, feedback, and iteration to improve the product and sales process's efficiency.

3. Feedback

The synergy between MVP and MPS is built on feedback. The MVP loop involves collecting feedback from early adopters to improve the product, while the MPS loop involves collecting feedback from the first paying customer to improve the sales process. Both loops rely on feedback to identify pain points and make improvements.

4. Validation

The synergy between MVP and MPS is about validating the product's viability. The MVP loop validates the product's viability by building a product that solves the customer's problem. The MPS loop validates the product's viability by making the first sale and building a loyal customer base.

5. Efficiency

The synergy between MVP and MPS is about maximizing efficiency. The MVP loop is focused on minimizing costs while building a product that solves the customer's problem. The MPS loop is focused on maximizing sales efficiency while targeting early adopters and building a loyal customer base.

 

The Importance of Synergy

The synergy between MVP and MPS is critical to startup success. Startups that focus only on building a product without considering how to sell it will fail. Similarly, startups that focus only on sales without considering the product's viability will also fail.

The synergy between MVP and MPS is about creating a product that solves a customer's problem and building a loyal customer base. This synergy is about maximizing efficiency and minimizing costs while maximizing sales.

 

Conclusion

Building a successful startup is a challenging task, but the synergy between MVP and MPS can make it possible. The product loop and sales loop are equally important to startup success, and they cannot work alone. The synergy between MVP and MPS is about customer focus, iteration, feedback, validation, and efficiency.

Entrepreneurs need to focus on creating a Minimum Viable Product that solves a customer's problem and a Minimum Viable Sales process that targets early adopters and builds a loyal customer base. The synergy between MVP and MPS is about creating a product that customers want to buy and a sales process that efficiently targets and converts those customers.

By leveraging the synergy between MVP and MPS, entrepreneurs can build a successful startup that solves a customer's problem, creates value, and builds a loyal customer base.