We specialise in building real digital verification of Beta Businesses, Minimum Viable Products (MVP), Proof of Concept (POC), Three Horizon, innovative new ideas, or new markets.
What does this mean? All of these have one thing in common. They are new ideas to test new markets or new products.
Beta Business
Beta is a term commonly used by startups for businesses that are in a public launched phase. Beta comes after Alpha which is usually internal launch and testing. Beta business here we mean established businesses that want to test their new idea or new market. Established businesses has more resource and experience than a startup therefore we want to differentiate them here. But many startup model and concept is useful as the strategy for a beta business.
Minimum Viable Product (MVP) & Proof of Concept (POC)
These 2 are used interchangeably however Minimum Viable Product does more than just proof a concept. minimum viable product allows real user experience to gauge ideas.
“Minimum viable product” is a term coined by Frank Robinson and popularized by Eric Ries, founder of the Lean Startup methodology. According to Ries, an MVP is the version of a new product that allows the team to gather the maximum amount of proven customer knowledge with the least amount of effort.
The term minimum viable product has different variations and definitions for different organisations. This is because the word minimum is different for everyone.
When we say MVP here we mean the lean startup terminology which is closer to a proof of concept level. Meaning it could potentially just be a landing page with a chat concierge without even a domain name and website. The focus is more about testing the value of the business rather than the technology.
Minimum Commitment
Although we believe in the lean MVP we have also found that for an established business it is not enough. This is because there have been many proven examples where what user say they want and need does not always translate to conversion. Therefore it is more important to design the MVP to also gauge commitment rather than just interest. These can be in the form of pre-sales, commitment to purchase by booking or making the promise to convert difficult like filling up a long form to show that users are really committed to the purchase or conversion.
Three Horizons
When planning new ideas it is useful to think of it as your three horizons. Horizon 2 and 3 are when the risk is highest this is because it is furthest away from what your organisation is experienced with. This is where an MVP is useful to manage the risk of these ideas. Risk includes figuring out true product-market fit, over investing in a new unknown, prooving your assumed customer person, and the potential of the idea affecting your main brand.
Our skillset at Beta-launch is focused on building MVP’s that take all these points into consideration to find out about our process.
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