It's a great time to be an entrepreneur in the US right now!
The first three quarters of 2015 saw $57.9 billion in startup funding and have already crossed the 2014 level. However, the startup failure rate is at an all-time high, with 9 out of 10 startups failing in their initial stages. What's more intriguing is that according to a survey by CB insights, the number one reason for startup failure was the lack of a market need for their product, followed by running out of funds.
Here is where a lean startup approach can help; entering the market with a Minimum Viable Product (MVP) increases the chance of success for your startup, as it helps in validating the idea at a fraction of the cost and time, one would have invested going in for a complete application.
Now, choosing an MVP approach is only half the battle won, a startup would also need an experienced tech partner, who can bring in a host of valuable experience and expertise for successful planning and designing of the MVP.
Harbinger Systems hosted an insightful webinar on "MVP Essentials: The Business Need, Building Blocks and the Best Practices" on February 24th, 2016. Attendees gained insights on the key considerations in building an MVP followed by the best practices in creating the MVP, using real life case study examples.