Developing Your First Edtech MVP
If you decide to become an education technology entrepreneur for the fame and fortune it might bring you, you’re in the wrong business. The many successful ad tech entrepreneurs are innovators who want to solve an existing problem in education. Their focus is on bringing their visions to life. Most tech CEOs have asked themselves the question, “What if my product didn’t exist? Would society be the same without it?”
All you have to do is release your minimum viable product as quickly as you can. Below you will find three simple steps that’ll take you there.
Stay With the Basics
Develop your minimum viable product. This is the basic version of what you hope to deliver. Most startup entrepreneurs think that the minimum viable product is a prototype. It’s the real McCoy, but without all the fixings.
The initial iteration of your product is just about the fundamentals. All the features you want to add can be developed later once your innovation has a following. The goal in planning and producing your minimum viable product is to get it in the hands of consumers as quickly as possible.
To do this, make a map illustrating the product’s features, the solution it brings to education, and how your vision drives it. Above all, stay lean. Design, write, test, and market. Stay focused on those four initiatives.
Keep it Affordable
A well-designed minimum viable product will reduce the time you spend in development, which can save you a large amount of money. Here’s why:
·You have no time for new features. As cool as it would be to have a product that can do everything, it’s just not viable – or necessary. You’d have to spend years developing, writing code, and beta testing. Every day that your minimum viable product is not on the market is a day you lose money.
·Adding additional features can be a waste of time. What you love in an app or device may not be what the consumers want. Why waste time guessing when your consumers can tell you what they want?
Your minimum viable product is the many economical ways to get your education technology startup off the ground. Avoid the temptation to add fancy features until it’s financially feasible.
Pilot, Pilot, Pilot
Now that you’re ready to launch our minimum viable product, it’s time to test it in real situations.
Product piloting makes a win-win for your consumers and you. They provide feedback, and you adjust the MVP features accordingly. To reward them, you might consider giving them a discount on the final version of the product. Hopefully, you’ve also collected enough data regarding product effectiveness to build a large fan base.
That base will attract venture investors who can help you take your minimum viable product to the product you always knew it could be.