5 Key Criteria for a Successful MVP

May 10, 2021

Watch the Webinar Recording

At StudioHub's webinar series, we had the pleasure of hosting Brent Freeman - a US-based serial entrepreneur passionate about building businesses to generate both profits & social impact. To drop some numbers: at Stealth Venture Labs, where Brent is the Founder & President, he and his team have generated over $500M in revenue for its clients in the last five years. For those who did not attend the webinar: you have no doubt missed a lot, but in particular, you missed five keys to building a successful product or service. To make up for it, we share some key insights to find the right doors for your successful entry into the market. Startup Studios are unique for their fast MVP validation process. This process is critical for building ventures that make things happen as rapidly as five weeks: the timeframe our guest speaker suggests for a successful market launch.

To create a successful market launch, be sure to consider these 5 criteria:

  1. Passionate interest group - bond with your potential customers!
  2. Large target market - make it for scalable space!
  3. Disruptive value proposition - how and which extraordinary value do you deliver?
  4. Compelling market economics - consider your P&L and make sure to Gain!
  5. Solving market pain - is it a must-have or a nice-to-have?

The approach is based on the simple criteria one has to consider while Tailoring successful products for the perfect Market Fit. And as any exclusive Tailor, you need to consider basics like size, material, and style - nothing extraordinary: take your measurements carefully. The customer will order suits only from you. Few valuable insights from Brent's exclusive Market Fit Tailoring methodology:

#1: Passionate Audience

#2: Scale Potential

#3: Unique Product

#4: Compelling Economics

Be on top of your economics:

#5: Solve a Market Pain

Best value proposition - tick one or more:

Few other recommendations

MVP Testing and Product Market Fit

Studio Positioning

Clear Decision

Now we think you are ready: take the needle and the thread and go AHEAD!

About Brent Freeman

Being extensively involved in the past and also currently in digital marketing and e-commerce Brent is also an angel investor, former venture capitalist and expert author for Entrepreneur and INC on startup life. He is the Founder & President at Stealth Venture Labs, an elite growth marketing firm focused on helping e-commerce brands scale through growth plateaus that have generated over $500M in revenue for its clients in the last 5 years.

About the Author

Manush Melkumyan

Manush is currently the Executive Partner at StudioHub. Prior to this, she has been working in the top management in the Corporate and earlier in the Public sectors with 10+ years of engagement within the Startup ecosystem as an entrepreneur, mentor and consultant. “Life more than anything amazes me and I aspire to animate everything around!” M.

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