The light strategy — test product-market viability
A Proof of Concept (POC) differs from a Minimum Viable Product (MVP) in its primary focus. While an MVP aims for a simple yet impactful introduction to the market, a POC is more of a cautious trial. The POC is about testing the feasibility of an idea, making sure it holds water before investing in a more comprehensive product. It’s a deliberate step-by-step assessment before committing to a full-scale endeavor, emphasizing validation over immediate user engagement.
Who you are
You want to spend the time to build a product that addresses a wider range of customer needs. Launching something to the market half-baked feels uncomfortable to you.
Agile and Lean
You’re ready to iterate and learn fast using a lean concept to gather user feedback. You like to move fast and run well-defined experiments, learn from them, and try again.
You know the uncertainties in innovation and value a strategic approach. You prefer managing risks incrementally, allowing you to assess viability before making substantial investments.
You prioritize evidence over assumptions. You’re committed to making informed decisions based on real-world data, ensuring a solid foundation for the next steps.
The key do’s and don’ts of a POC
- Clearly outline the specific goals and hypotheses you aim to validate with the POC.
- Identify quantifiable metrics to assess the success or failure of the POC accurately.
- Avoid unnecessary complexities that do not directly contribute to the core functionality of the product.
- Set a practical timeframe , allowing sufficient time for thorough testing and analysis.
- Have a well defined plan for who you’re getting the concept in front of and how to make it realistic.
- Set realistic expectations. AKA a prototype won’t tell you whether or not people are ready to invest money in a financial platform.
- Try to validate too many things at once. This can ultimately make it unclear how to move forward, and create more confusion than clarity.
- Confuse a POC with an MVP. A proof of concept isn’t a product, it’s a test, you’ll still need to build a product.
Not sounding right?
If this doesn’t sound like you check out the other strategies we approach products with.
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