From the idea to success - 4 of 7

From the idea to success - 4 of 7

From the idea via the MVP (minimum viable product) to success with the help of a dedicated panel

Innovate profitable new services! Increase your chances of success with our 7 tips.

For which situations is the procedure suitable?

• You are dealing with new (digital) business models.
• You are planning new digital services as a classic company.
• You are expanding your portfolio with new digital services.

Part 1 is dedicated to the basics. Everything starts with good organisation: planning, outlining, arranging. The 2nd part deals with the synchronisation and development of questions. Now it's time for your own panel, to which you direct your questions in episode 3. In the previous part 4, you develop your minimum viable product, which you now present to your panel in part 5.

• Part 1 - From the idea to success
• Part 2 - Ask the right and important questions
• Part 3 - Create your own panel
• Part 5 - Present your minimum viable product to your panel
• Part 6 - Assess your minimum viable product
• Part 7 - Plan, secure, benefit

Fourth – Develop your minimum viable product

What MVP means in this context:

• your service/digital product is in the first stage of developmenttestable by customers.
• It contains your planned essential function(s), which is/are aimed at the needs of the target group that you have previously identified - the minimum possible scope of the functions.

Three guiding principles have proven to be particularly useful in this respect, based on the experience of your consultants.

1. Guiding principle: Define and track core benefits accurately

Write down your planned core benefits as precisely as possible. Feel free to invest two additional thought loops. Once your core benefit is in place, capture it well digitally in the project folder and physically on paper.

Focus your activities on the core benefits.

What do your advisers mean by that?

In the course of project work, people like to get lost on byways and sideshows. This is a natural phenomenon. Specific case: In the course of an app development, the development team discussed the colour scheme of the planned app for longer and more intensively than its actual core function.

Of course, the colour and name play an important role in whether the app is found in the App Store later. However, for the MVP status, the significance is subordinate.

Tip: As a project manager, always recur to and focus on the core benefits.

2. Guiding principle: Maintain a balance between your own aspirations, planned target dates and the work to be done

In consulting practice, your experts observe conflicts within the project team when it comes to creating MVPs. The breaking lines in this example were particularly striking:

• the engineering team for the software product did not want to enter the market under any circumstances. People were too aware of the MVP's shortcomings. They were ashamed and felt hurt in their pride as engineers.
• Everything went much too slowly for the marketing and sales management. The person pushed for a start the day before yesterday, at the latest immediately.
• The commissioning unit 'New Services' constantly weighed up how much effort would be put into development in view of the forecast market volume. At the same time, it was known that only a working solution would gain acceptance in the market.

Tip: Maintain balance.

3. Guiding principle: Allow failure

It takes a lot of courage to break off in the context of an MVP development. Do you know how it feels for project members when, after days of euphoria, it suddenly becomes clear internally that it won't work?

Some people resign, many show disappointment, others try to carry out the projectwith pressure and a ‘now more than ever mentality’.

Tip: Include experienced project managers who are skilled at managing the team's emotions. This allows you to make mistakes and gain both strength and motivation.

Experimental values from your consultants:

As a rule, small panelswith, for example, three or four subgroups of 40-50people each suffice to develop a new service, a new product. Conversely, a size of approximately 150 to 200 persons is sufficient to receive regularly relevant input for you and at the same time to keep your effort manageable.

Good to know:

• With eisq, experienced pilots are at your side.
• Reach your destination more safely and maximise your results.
• Feel free to use us as a clock generator or sparring partner.

Measure yourself with us.

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