VOLTA Operating System

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Founder Journey

MVP Development

Stage Description and Characteristics

In this stage, founders will develop a functional Minimum Viable Product (MVP) that addresses the core problem they have identified. The MVP is now ready for initial user testing and feedback.

Key characteristics of this stage include:

MVP developed and deployed

Ready for user testing

Initial user feedback collection

Iterations based on user feedback

Refining the product-market fit

Key Challenges to be Solved

Developing a working prototype or MVP that functions as expected

Testing your product with real users and gathering feedback

Iterating and improving your MVP based on user feedback

Ensuring the MVP effectively addresses the core problem

Gaining user adoption for testing and feedback

Analyzing user feedback for actionable insights

Identifying key metrics to track product success

Key Milestones to Reach

Build and test the MVP: Develop the MVP and test it with early adopters to gather feedback and validate the product idea

Identify the MVP metrics to track and evaluate: Determine the key metrics that will be used to track the performance of the MVP, such as user engagement, retention, and conversion rates

Refine the product based on user feedback: Use feedback from early adopters to improve the user experience and address any issues or challenges that users are facing

Define ICP (Ideal Customer Profile): Develop an ICP based on customer discovery and early MVP validation feedback, to better target marketing and sales efforts

Define the go-to-market strategy: Create a first draft go-to-market strategy that outlines how the startup will acquire and retain customers, including marketing channels and tactics to reach the target audience

MVP developed and deployed for testing: Ensure the MVP is fully functional and accessible to users for testing and feedback collection

Initial user feedback collected: Gather and document feedback from users to inform future product iterations and improvements

Growth Tracking (KPI’s / Value Engine Metrics)

Number of active users (Customer Interest)

Level of customer engagement with MVP (Customer Engagement)

Conversion rate of MVP users to paid customers ideally but could also be a signal towards willingness to pay (Customer Conversion)

User engagement and satisfaction metrics (Customer Value)

Iterations and improvements implemented

Triggers to Graduate to next stage

A working MVP with basic features

First user feedback and testing

Basic metrics and analytics

Well defined Value Proposition Canvas

Well defined Jobs to Be Done Canvas

Have MVP develop Stage completed in 6 months

Startup Support for this Stage

MVP Development and Deployment:

Guidance on best practices for MVP development and deployment

Support in selecting appropriate technologies and platforms

Assistance in Agile Development and Design Thinking methodologies

User Testing and Feedback Collection:

Assistance in designing and executing effective user testing strategies

Support in developing mechanisms for collecting and organizing user feedback

Data Analysis and Insights:

Help in analyzing user feedback to identify actionable insights

Guidance on prioritizing and implementing product iterations based on feedback

Product Iterations and Improvements:

Support in refining the MVP based on user feedback and insights

Assistance in implementing necessary changes and improvements

Guidance on Design Sprint methodology

Market Validation:

Refining and testing go-to-market strategy

Conducting market research and analysis to refine target customer personas and validate product-market fit

Identifying early adopters and developing a strategy to attract them to the product

Business Model Optimization:

Developing and testing revenue streams and pricing strategies

Conducting competitive analysis and refining the business model

Refining the product roadmap and identifying opportunities for future growth

Assistance with Business Model Canvas, Revenue Stream Development, SWOT Analysis, and Positioning Map methodologies

Key Metrics and Success Tracking:

Guidance on identifying and tracking key success metrics

Support in using metrics to inform product strategy and decision-making

Fundraising:

Developing investor materials and refining the pitch deck

Identifying and pitching to potential investors

Develop non-dilutive and dilutive fundraising roadmap

Develop an ideal investor profile

Identify possible angel and seed investors aligned with the identified Ideal Investor Profile

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