In a typical startup journey, the road is paved with entrepreneurial passion and great intentions, but also fundamentally misguided product development efforts. It all starts when a team brainstorms and builds wireframes of their startup masterpiece. Little do they realize, the product thus far is rooted in hundreds of untested assumptions. Nevertheless, the team is excited to get started, so they give these requirements to developers.
With requirements in hand, the development team delivers an estimate based on their best understanding of the bloated product provided to them. They likely have very limited knowledge of the market, customer needs, or the actual goals of the product. This leads them to be part of the unfortunate statistics surrounding startup failure.
What happens is, months go by and critical time (and money) gets wasted as the developers uncover previously unforeseen complexities and add new features. What they eventually deliver is a feature-heavy masterpiece that may not even make it out of testing. Often, even if the product does go to market, it doesn't catch on with users organically, and the startup team ends up back at the drawing board trying to figure out why. Worse yet, by this time, the bank account is on “E” so there’s no more room for changes.
At Rocket Founders, we’re all about eliminating waste in the startup journey by helping to solve the common problems many encounter along the way. The Rocket Founders Lean Process drives how we build using techniques from the scientific method that you learned in high school science class. It helps us ensure we are building the right thing, at the right time, to find product/market fit.
Your MVP should be the smallest amount of code and design possible to conduct your first experiment. It helps validate underlying assumptions quickly and therefore keep costs down.
After our experimentation window closes, we sit down together to review the feedback from the test. We’ll help process the data and make calculated changes for the next iteration. We see what we got right (and wrong) from real users. That data informs both the product direction and the assumptions we test next. If we got things wrong, we will need to pivot. That’s okay because we didn't waste time or money overbuilding unnecessary features in the first iteration.
Every startup that works with Rocket Founders at our Startup Accelerator goes through a highly collaborative, intensely focused process specifically designed to craft the right requirements for your current iteration. We rely on our process to get your startup to market quickly, and simultaneously help with user acquisition at every step. All this accelerates your journey to product/market fit.
In many cases, we end up with a very different product than the simple MVP we started with. That is the result of the validated learning process. The most successful startups we know today evolved drastically from something uber basic (yes, even Uber started out simple). We’ve found that the Rocket Founders Lean Approach uses techniques from successfully built companies, and it can be applied to your startup, too. Your startup can be just as successful without wasting valuable time or money by teaming up with our Startup Accelerator.