Minimum viable process
themarketplace.guide
themarketplace.guide
Said another way, most the MVX topic is about what not to do, which is helpful, but is not necessarily means to make progress on what to do.
Using observe-orient-decide-act-loop, minimize entropy creation for yourself, while maximizing future opportunities available relative to overall ecosystem dynamics.
Perhaps I misunderstood the general gist of Minimum Viable Product, but I thought it originated as a kind of test to determine whether what you had was actually a Product, and not just a one-off solution, or a piece of software, or some process that only a handful of people would ever actually pay for and use (hence the Viable part). Minimum was just guidance to not over-invest into any single part of the overall whole until all of the parts necessary for the Product were known. All of this would always be very specific to the particular Product.
Most people hear this advice and think it means they get to decide to cut corners, but what it actually means is that only your customers can tell you which corners they actually want; you never get to decide that for yourself.
Isn't the answer that shipping the thing is the only test? By shipping you figure out what's missing.
https://www.youtube.com/watch?v=2U3w5Blv0Lg
Your starting point actually matters quite a bit. Iterating to success through market research would be nearly impossible if you chose a bad starting point. Unless of course you go back to the drawing board each iteration. But in this case you aren't really testing and iterating, but trying out whole new things each round. I believe that if you are iterating in this way, then you truly don't have "it". You don't have whatever unique experience, product vision, perspective, etc is required to make the new thing that is going to disrupt the market you are trying to enter. You can't just keep trying things and get lucky in this way. At least not where we are in the cycle right now with software.
In the musician world, "build it and they will come" would refer to creating a really great band by practicing in your parents basement, but never playing shows in the real world. You aren't going to grow a fanbase by playing in the basement. But you could be a damn fucking good band playing music that everyone needs to hear. There is a lot of work that takes you out of the basement. 50%. But if the first 50% isn't there no amount of leaving the basement is going land you anywhere.
Musician equivalent might be identifying few notable bands in a given genre and actually understanding which fans spend money, why, where they listen to it, what other music they listen to, how they discover new music, what songs they share with people, etc; never done music R&D, so honestly stretch, in part because I know distribution is way more important than the actual music, but that doesn’t change that ultimately it’s the fans listening to music that matter. The “build it and they will come” would be making full album with music videos before ever letting single fan or peer familiar with fan tastes listen to the music.
Another way of imagining it is if you look back in time, where hindsight is 20/20, assuming that as an observer you were aware of all factors. Magically you have a “Time Machine” and travel back time knowing the prefect way to do everything. Problem is the dynamics of the situation would evolve rapidly evolve and it would likely never stop evolving no matter how many times you completed the loop.
Running a marketplace involves lots more than a SaaS including things like direct sales and logistics.
Process here refers to those operational activities for which the platform is only the entry-point.
Imagine we built a Ferrari in our garage. So we try to sell it, but no Ferrari buyers want to go to our crappy house to look at it, and even those who do - go away when our wife with her 3 teeth grosses them out.
Basically, you can't sell a Ferrari for a Ferrari price unless you also have the Ferrari showroom and Ferrari salesmen.
To a lesser or greater degree this applies to every software product.
The irony is that customers often exhibit the same way of thinking: “If only I had the perfect to-do list app I would be much more productive.” - they equate the solution to their problem with some product.
But perhaps this situation is unique to capital intensive slow moving industries like commercial real estate investment and development. I can see how software companies can get to revenue without processing hundreds of professional fee invoices and 1099s and paying filing fees for multiple entities. These activities are table stakes for real estate development.
Edit: I’m a property developer
However, for a business that includes other factors, such as outbound sales for instance, process also needs to be iterated upon.
Unless it's taken seriously, maybe even more than the tech, the business is going to be of limited value.
As I mentioned in a reply to another comment, part of the value is being able to demonstrate that you can efficiently onboard thousands of suppliers each of which might have hundreds of products. This process is part of the PMF.
But the parts that you're aiming to innovate on it doesn't make sense. And that's all the actual pieces of business: your software, your sales and marketing, how you do customer success, etc etc
All that process has commonalities with other companies but ultimately has sufficient difference that experience is worth it to spot what to do, but you can't just copy. It's just like software in that sense.
The only exception are the "copycat startups" which see someone else hit PMF and then fail to scale the solution to capture the market. In that case, you go after their market faster without any of their legacy (not just in software, they may have large customers they do special deals with etc).
I don't think what OP is suggesting is at odds with "ignore process until you have product market fit", since he says "do things that don't scale" - basically ignore process efficiency until you have a proven product/engagement.
Would love your feedback if you have 15 minutes, email in profile
Thanks
http://widgetsandshit.com/teddziuba/2011/12/process.html
I must say I wholeheartedly agree with Rule 4.
You can't "Just let go" when you have to repeatably onboard thousands of merchants each of which might have hundreds of products.