Your Strategy Match:

The Light Strategy: ‘POC’—test product-market viability

Summary

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

Comprehensive

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.

Risk-Aware

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.

Data-Driven

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.

Get Your Strategy match

The Do’s and Dont’s of a Great MVP

Do’s

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.

Dont’s

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.