Player FM 앱으로 오프라인으로 전환하세요!
MVPs and MMPs: Solving Problems the Most Effective Way with Erik Lindgren
Manage episode 400074537 series 2481978
This week, Dan Neumann and Justin Thatil are joined by Erik Lindgren to discuss the concepts of MVP (Minimum Viable Product) and MMP (Minimum Marketable Product) and the differences between them.
In this episode, they explore an example of a successful brand that started the simplest way possible and became a multimillion-dollar success a decade later!
Key Takeaways
Erik shares the story of Honest Tea, which grew into a multimillion-dollar company. They started with the MVP (making tea at Eric’s home to sell later), and ten years later, Coca-Cola bought forty percent for forty-three million dollars.
What is the simplest way to get to the market fast? Start with the minimum to get on the market and test your idea.
It is crucial to shift from an existing platform to a new one with the minimum risk possible.
What is the difference between MVP and MMP?
MVP: We are unsure if there is a market for this product, who will buy it, and how they will respond to it; for that, you put together a business hypothesis.
MMP: What is something that the market will really adopt broadly?
There is a considerable risk in taking the Big Bang approach to a project.
An integrative and incremental approach seems more effective than redoing the entire ERP system before going live. Grow a system organically instead of trying to do it all at once.
A team must ensure they know whom they are solving a problem for to focus£ on what matters most.
Mentioned in this Episode:
Watch Flamin’Hot Documentary
Want to Learn More or Get in Touch?
Visit the website and catch up with all the episodes on AgileThought.com!
Email your thoughts or suggestions to Podcast@AgileThought.com or Tweet @AgileThought using #AgileThoughtPodcast!
316 에피소드
Manage episode 400074537 series 2481978
This week, Dan Neumann and Justin Thatil are joined by Erik Lindgren to discuss the concepts of MVP (Minimum Viable Product) and MMP (Minimum Marketable Product) and the differences between them.
In this episode, they explore an example of a successful brand that started the simplest way possible and became a multimillion-dollar success a decade later!
Key Takeaways
Erik shares the story of Honest Tea, which grew into a multimillion-dollar company. They started with the MVP (making tea at Eric’s home to sell later), and ten years later, Coca-Cola bought forty percent for forty-three million dollars.
What is the simplest way to get to the market fast? Start with the minimum to get on the market and test your idea.
It is crucial to shift from an existing platform to a new one with the minimum risk possible.
What is the difference between MVP and MMP?
MVP: We are unsure if there is a market for this product, who will buy it, and how they will respond to it; for that, you put together a business hypothesis.
MMP: What is something that the market will really adopt broadly?
There is a considerable risk in taking the Big Bang approach to a project.
An integrative and incremental approach seems more effective than redoing the entire ERP system before going live. Grow a system organically instead of trying to do it all at once.
A team must ensure they know whom they are solving a problem for to focus£ on what matters most.
Mentioned in this Episode:
Watch Flamin’Hot Documentary
Want to Learn More or Get in Touch?
Visit the website and catch up with all the episodes on AgileThought.com!
Email your thoughts or suggestions to Podcast@AgileThought.com or Tweet @AgileThought using #AgileThoughtPodcast!
316 에피소드
모든 에피소드
×플레이어 FM에 오신것을 환영합니다!
플레이어 FM은 웹에서 고품질 팟캐스트를 검색하여 지금 바로 즐길 수 있도록 합니다. 최고의 팟캐스트 앱이며 Android, iPhone 및 웹에서도 작동합니다. 장치 간 구독 동기화를 위해 가입하세요.