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You build something quickly, a minimumviableproduct. So I’d love to touch on this element of: what is the thinking here on how to fundamentally think about, when is the right time to add those secondary products and that strategic mindset to product’s introduction, so to speak?
A top motivating factor for most people — especially those in finance, insurance, and construction — is money. Test demand with a minimumviableproduct: Create a simplified version of your product or service to test its performance in the real market. Consider hiring freelancers or contractors to keep costs low.
Its also often a good idea to start with a minimumviableproduct, or MVP, to validate your idea without breaking the bank. Competition What happens if another company redesigns their product to compete with yours after you enter the market? Below, Ive laid out failure rates for several key industries.
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