Consistently I am asked to sign a NDA (Non-disclosure agreement) usually sent to me by entrepreneurs before I review or listen to a new startup offering. Although there is a lot that has already been written about on this subject, I often refuse to sign them outright, and would like to add my thoughts as to why.
Tag Archives: Invention
Providing support for your Minimum Viable Product testers (sometimes known as Alpha version users) is an ongoing process that requires preparation and considerable time and effort in order to receive the kinds of feedback that you are after.
Recently I have come across several complexities when working with Minimum Viable Product testers. Here I describe two ventures; each with a different model for using Minimum Viable Product testers, and consequently chosen because of different users’ needs and approach for each. Here I share my experiences and lessons learned from dealing with both types in this two-part article
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Right now I am busy helping to bootstrap a new startup that has a unique idea and niche market aimed for middle-aged women. In this article, I would like to share the process we are going though and how we are in the early stages of forming our team and approaching seed investors.
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The Minimal Viable Product
Building your idea into a product requires a process that involves several different modes of expertise and knowledge. Above all, one must have a plan or methodology to follow so that the outcome will meet one’s expectations and more importantly your plan will address what your proposed target audience needs.
First and foremost to your plan is the need to focus your idea. This is done by doing comprehensive research and identifying potential competitors, in order to understand what the proposed value of your offering is in comparison to other players within your niche market. Often it may be more difficult to be first player in your market than being in a position among several other players. Despite the fact that being first gives you the advantage, it also means your market is not yet defined and you need to educate your customers in advance on how to use your product.