Are MVPs outdated and have no place in modern product culture?

Frank Robinson coined "MVP" in 2001. In the same year as the Agile Manifesto, the first Scrum experiment began. MVPs are old.

The concept was created to solve the waterfall problem at the time.

The market was still sour from the .com bubble. The tech industry needed a new approach. Product and Agile gained popularity because they weren't waterfall.

More than 20 years later, waterfall is dead as dead can be, but we are still talking about MVPs. Does that make sense?

What is an MVP?

Minimum viable product. You probably know that, so I'll be brief:

[…] The MVP fits your company and customer. It's big enough to cause adoption, satisfaction, and sales, but not bloated and risky. It's the product with the highest ROI/risk. […] — Frank Robinson, SyncDev

MVP is a complete product. It's not a prototype. It's your product's first iteration, which you'll improve. It must drive sales and be user-friendly.

At the MVP stage, you should know your product's core value, audience, and price. We are way deep into early adoption territory.

What about all the things that come before?

Modern product discovery

Eric Ries popularized the term with The Lean Startup in 2011. (Ries would work with the concept since 2008, but wide adoption came after the book was released).

Ries' definition of MVP was similar to Robinson's: "Test the market" before releasing anything. Ries never mentioned money, unlike Jobs. His MVP's goal was learning.

“Remove any feature, process, or effort that doesn't directly contribute to learning” — Eric Ries, The Lean Startup

Product has since become more about "what" to build than building it. What started as a learning tool is now a discovery discipline: fake doors, prototyping, lean inception, value proposition canvas, continuous interview, opportunity tree... These are cheap, effective learning tools.

Over time, companies realized that "maximum ROI divided by risk" started with discovery, not the MVP. MVPs are still considered discovery tools. What is the problem with that?

Time to Market vs Product Market Fit

Waterfall's Time to Market is its biggest flaw. Since projects are sliced horizontally rather than vertically, when there is nothing else to be done, it’s not because the product is ready, it’s because no one cares to buy it anymore.

MVPs were originally conceived as a way to cut corners and speed Time to Market by delivering more customer requests after they paid.

Original product development was waterfall-like.

Time to Market defines an optimal, specific window in which value should be delivered. It's impossible to predict how long or how often this window will be open.

Product Market Fit makes this window a "state." You don’t achieve Product Market Fit, you have it… and you may lose it.

Take, for example, Snapchat. They had a great time to market, but lost product-market fit later. They regained product-market fit in 2018 and have grown since.

An MVP couldn't handle this. What should Snapchat do? Launch Snapchat 2 and see what the market was expecting differently from the last time? MVPs are a snapshot in time that may be wrong in two weeks.

MVPs are mini-projects. Instead of spending a lot of time and money on waterfall, you spend less but are still unsure of the results.

MVPs aren't always wrong. When releasing your first product version, consider an MVP.

Minimum viable product became less of a thing on its own and more interchangeable with Alpha Release or V.1 release over time.

Modern discovery technics are more assertive and predictable than the MVP, but clarity comes only when you reach the market.

MVPs aren't the starting point, but they're the best way to validate your product concept.

Don't know how to start an online business? Here's a guide. By following these recommendations, you can build a lucrative and profitable online business.

What Are Online Businesses Used For?

Most online businesses are websites. A self-created, self-managed website. You may sell things and services online.

To establish an internet business, you must locate a host and set up accounts with numerous companies. Once your accounts are set up, you may start publishing content and selling products or services.

How to Make Money from Your Online Business

Advertising and marketing are the best ways to make money online. You must develop strategies to contact new customers and generate leads. Make sure your website is search engine optimized so people can find you online.

Top 5 Online Business Tips for Startups:

1. Know your target audience's needs.

2. Make your website as appealing as possible.

3. Generate leads and sales with marketing.

4. Track your progress and learn from your mistakes to improve.

5. Be prepared to expand into new markets or regions.

How to Launch a Successful Online Business Without Putting in a Lot of Work

Build with a solid business model to start a profitable online business. By using these tips, you can start your online business without paying much.

First, develop a user-friendly website. You can use an internet marketing platform or create your own website. Once your website is live, optimize it for search engines and add relevant content.

Second, sell online. This can be done through ads or direct sales to website visitors. Finally, use social media to advertise your internet business. By accomplishing these things, you'll draw visitors to your website and make money.

When launching a business, invest long-term. This involves knowing your goals and how you'll pay for them. Volatility can have several effects on your business. If you offer things online, you may need to examine if the market is ready for them.

Invest wisely

Investing all your money in one endeavor can lead to too much risk and little ROI. Diversify your investments to take advantage of all available chances. So, your investments won't encounter unexpected price swings and you'll be immune to economic upheavals.

Financial news updates

When launching or running a thriving online business, financial news is crucial. By knowing current trends and upcoming developments, you can keep your business lucrative.

Keeping up with financial news can also help you avoid potential traps that could harm your bottom line. If you don't know about new legislation that could affect your industry, potential customers may choose another store when they learn about your business's problems.

Volatility ahead

You should expect volatility in the financial sector. Without a plan for coping with volatility, you could run into difficulty. If your organization relies on client input, you may not be able to exploit customer behavior shifts.

Your company could go bankrupt if you don't understand how fickle the stock market can be. By preparing for volatility, you can ensure your organization survives difficult times and market crashes.

Conclusion

Many internet businesses can be profitable. Start quickly with a few straightforward steps. Diversify your investments, follow financial news, and be prepared for volatility to develop a successful business.

Thanks for reading!

Follower count, earnings, and more

I created my 7th TikTok account six months ago. TikTok's great. I've developed accounts for Amazon products, content creators/brand deals education, website flipping, and more.

Introverted or shy people use faceless TikTok accounts.

Maybe they don't want millions of people to see their face online, or they want to remain anonymous so relatives and friends can't locate them.

Going faceless on TikTok can help you grow a following, communicate your message, and make money online.

Here are 6 steps I took to turn my Tik Tok account into a $60,000/year side gig.

From nothing to $60K in 6 months

It's clickbait, but it’s true. Here’s what I did to get here.

Quick context:

I've used social media before. I've spent years as a social creator and brand.

I've built Instagram, TikTok, and YouTube accounts to nearly 100K.

How I did it

First, select a niche.

If you can focus on one genre on TikTok, you'll have a better chance of success, however lifestyle creators do well too.

Niching down is easier, in my opinion.

Examples:

• Travel

• Food

• Kids

• Earning cash

• Finance

You can narrow these niches if you like.

During the pandemic, a travel blogger focused on Texas-only tourism and gained 1 million subscribers.

Couponing might be a finance specialization.

One of my finance TikTok accounts gives credit tips and grants and has 23K followers.

Tons of ways you can get more specific.

Consider how you'll monetize your TikTok account. I saw many enormous TikTok accounts that lose money.

Why?

They can't monetize their niche. Not impossible to commercialize, but tough enough to inhibit action.

First, determine your goal.

In this first step, consider what your end goal is.

Are you trying to promote your digital products or social media management services?

You want brand deals or e-commerce sales.

This will affect your TikTok specialty.

This is the first step to a TikTok side gig.

Step 2: Pick a content style

Next, you want to decide on your content style.

Do you do voiceover and screenshots?

You'll demonstrate a product?

Will you faceless vlog?

Step 3: Look at the competition

Find anonymous accounts and analyze what content works, where they thrive, what their audience wants, etc.

This can help you make better content.

Like the skyscraper method for TikTok.

Step 4: Create a content strategy.

Your content plan is where you sit down and decide:

• How many videos will you produce each day or each week?

• Which links will you highlight in your biography?

• What amount of time can you commit to this project?

You may schedule when to post videos on a calendar. Make videos.

5. Create videos.

No video gear needed.

Using a phone is OK, and I think it's preferable than posting drafts from a computer or phone.

TikTok prefers genuine material.

Use their app, tools, filters, and music to make videos.

And imperfection is preferable. Tik okers like to see videos made in a bedroom, not a film studio.

Make sense?

When making videos, remember this.

I personally use my phone and tablet.

Step 6: Monetize

Lastly, it’s time to monetize How will you make money? You decided this in step 1.

Time to act!

For brand agreements

• Include your email in the bio.

• Share several sites and use a beacons link in your bio.

• Make cold calls to your favorite companies to get them to join you in a TikTok campaign.

For e-commerce

• Include a link to your store's or a product's page in your bio.

For client work

• Include your email in the bio.

• Use a beacons link to showcase your personal website, portfolio, and other resources.

For affiliate marketing

• Include affiliate product links in your bio.

• Join the Amazon Influencer program and provide a link to your storefront in your bio.

$60,000 per year from Tik Tok?

Yes, and some creators make much more.

Tori Dunlap (herfirst100K) makes $100,000/month on TikTok.

My TikTok adventure took 6 months, but by month 2 I was making $1,000/month (or $12K/year).

By year's end, I want this account to earn $100K/year.

Imagine if my 7 TikTok accounts made $100K/year.

7 Tik Tok accounts X $100K/yr = $700,000/year

New Stiglitz just dropped.

Here's the inflation story everyone believes (warning: it's false): America gave the poor too much money during the recession, and now the economy is awash with free money, which made them so rich they're refusing to work, meaning the economy isn't making anything. Prices are soaring due to increased cash and missing labor.

Lawrence Summers says there's only one answer. We must impoverish the poor: raise interest rates, cause a recession, and eliminate millions of jobs, until the poor are stripped of their underserved fortunes and return to work.

https://pluralistic.net/2021/11/20/quiet-part-out-loud/#profiteering

This is nonsense. Countries around the world suffered inflation during and after lockdowns, whether they gave out humanitarian money to keep people from starvation. America has slightly greater inflation than other OECD countries, but it's not due to big relief packages.

The Causes of and Responses to Today's Inflation, a Roosevelt Institute report by Nobel-winning economist Joseph Stiglitz and macroeconomist Regmi Ira, debunks this bogus inflation story and offers a more credible explanation for inflation.

https://rooseveltinstitute.org/wp-content/uploads/2022/12/RI CausesofandResponsestoTodaysInflation Report 202212.pdf

Sharp interest rate hikes exacerbate the slump and increase inflation, the authors argue. They compare monetary policy inflation cures to medieval bloodletting, where doctors repeated the same treatment until the patient recovered (for which they received credit) or died (which was more likely).

Let's discuss bloodletting. Inflation hawks warn of the wage price spiral, when inflation rises and powerful workers bargain for higher pay, driving up expenses, prices, and wages. This is the fairy-tale narrative of the 1970s, and it's true except that OPEC's embargo drove up oil prices, which produced inflation. Oh well.

Let's be generous to seventies-haunted inflation hawks and say we're worried about a wage-price spiral. Fantastic! No. Real wages are 2.3% lower than they were in Oct 2021 after peaking in June at 4.8%.

Why did America's powerful workers take a paycut rather than demand inflation-based pay? Weak unions, globalization, economic developments.

Workers don't expect inflation to rise, so they're not requesting inflationary hikes. Inflationary expectations have remained moderate, consistent with our data interpretation.

https://www.newyorkfed.org/microeconomics/sce#/

Neither are workers. Working people see surplus savings as wealth and spend it gradually over their lives, despite rising demand. People may have saved money by staying in during the lockdown, but they don't eat out every night to make up for it. Instead, they keep those savings as precautionary balances. This is why the economy is lagging.

People don't buy non-traded goods with pandemic savings (basically, imports). Imports don't multiply like domestic purchases. If you buy a loaf of bread from the corner baker for $1 and they spend it at the tavern across the street, that dollar generates $3 in economic activity. Spending a dollar on foreign goods leaves the country and any multiplier effect happens there, not in the US.

Only marginally higher wages. The ECI is up 1.6% from 2019. Almost all gains went to the 25% lowest-paid Americans. Contrary to the inflation worry about too much savings, these workers don't make enough to save, even post-pandemic.

Recreation and transit spending are at or below pre-pandemic levels. Higher food and hotel prices (which doesn’t mean we’re buying more food than we were in 2019, just that it costs more).

What causes inflation if not greedy workers, free money, and high demand? The most expensive domestic goods produce the biggest revenues for their manufacturers. They charge you more without paying their workers or suppliers more.

The largest price-gougers are funneling their earnings to rich people who store it offshore through stock buybacks and dividends. A $1 billion stock buyback doesn't buy $1 billion in bread.

Five factors influence US inflation today:

I. Price rises for energy and food

II. shifts in consumer tastes

III. supply interruptions (mainly autos);

IV. increased rents (due to telecommuting);

V. monopoly (AKA price-gouging).

None can be remedied by raising interest rates or laying off workers.

Russia's invasion of Ukraine, omicron, and China's Zero Covid policy all disrupted the flow of food, energy, and production inputs. The price went higher because we made less.

After Russia invaded Ukraine, oil prices spiked, and sanctions made it worse. But that was February. By October, oil prices had returned to pre-pandemic, 2015 levels attributable to global economic adjustments, including a shift to renewables. Every new renewable installation reduces oil consumption and affects oil prices.

High food prices have a simple solution. The US and EU have bribed farmers not to produce for 50 years. If the war continues, this program may end, and food prices may decline.

Demand changes. We want different things than in 2019, not more. During the lockdown, people substituted goods. Half of the US toilet-paper supply in 2019 was on commercial-sized rolls. This is created from different mills and stock than our toilet paper.

Lockdown pushed toilet paper demand to residential rolls, causing shortages (the TP hoarding story was just another pandemic urban legend). Because supermarket stores don't have accounts with commercial paper distributors, ordering from languishing stores was difficult. Kleenex and paper towel substitutions caused greater shortages.

All that drove increased costs in numerous product categories, and there were more cases. These increases are transient, caused by supply chain inefficiencies that are resolving.

Demand for frontline staff saw a one-time repricing of pay, which is being recouped as we speak.

Illnesses. Brittle, hollowed-out global supply chains aggravated this. The constant pursuit of cheap labor and minimal regulation by monopolies that dominate most sectors means things are manufactured in far-flung locations. Financialization means any surplus capital assets were sold off years ago, leaving firms with little production slack. After the epidemic, several of these systems took years to restart.

Automobiles are to blame. Financialization and monopolization consolidated microchip and auto production in Taiwan and China. When the lockdowns came, these worldwide corporations cancelled their chip orders, and when they placed fresh orders, they were at the back of the line.

That drove up car prices, which is why the US has slightly higher inflation than other wealthy countries: the economy is car-centric. Automobile prices account for 9% of the CPI. France: 3.6%

Rent shocks and telecommuting. After the epidemic, many professionals moved to exurbs, small towns, and the countryside to work from home. As commercial properties were vacated, it was impractical to adapt them for residential use due to planning restrictions. Addressing these restrictions will cut rent prices more than raising inflation rates, which halts housing construction.

Statistical mirages cause some rent inflation. The CPI estimates what homeowners would pay to rent their properties. When rents rise in your neighborhood, the CPI believes you're spending more on rent even if you have a 30-year fixed-rate mortgage.

Market dominance. Almost every area of the US economy is dominated by monopolies, whose CEOs disclose on investor calls that they use inflation scares to jack up prices and make record profits.

https://pluralistic.net/2022/02/02/its-the-economy-stupid/#overinflated

Long-term profit margins are rising. Markups averaged 26% from 1960-1980. 2021: 72%. Market concentration explains 81% of markup increases (e.g. monopolization). Profit margins reach a 70-year high in 2022. These elements interact. Monopolies thin out their sectors, making them brittle and sensitive to shocks.

If we're worried about a shrinking workforce, there are more humanitarian and sensible solutions than causing a recession and mass unemployment. Instead, we may boost US production capacity by easing workers' entry into the workforce.

https://pluralistic.net/2022/06/01/factories-to-condos-pipeline/#stuff-not-money

US female workforce participation ranks towards the bottom of developed countries. Many women can't afford to work due to America's lack of daycare, low earnings, and bad working conditions in female-dominated fields. If America doesn't have enough workers, childcare subsidies and minimum wages can help.

By contrast, driving the country into recession with interest-rate hikes will reduce employment, and the last recruited (women, minorities) are the first fired and the last to be rehired. Forcing America into recession won't enhance its capacity to create what its people want; it will degrade it permanently.

Nothing the Fed does can stop price hikes from international markets, lack of supply chain investment, COVID-19 disruptions, climate change, the Ukraine war, or market power. They can worsen it. When supply problems generate inflation, raising interest rates decreases investments that can remedy shortages.

Increasing interest rates won't cut rents since landlords pass on the expenses and high rates restrict investment in new dwellings where tenants could escape the costs.

Fixing the supply fixes supply-side inflation. Increase renewables investment (as the Inflation Reduction Act does). Monopolies can be busted (as the IRA does). Reshore key goods (as the CHIPS Act does). Better pay and child care attract employees.

Windfall taxes can claw back price-gouging corporations' monopoly earnings.

https://pluralistic.net/2022/03/15/sanctions-financing/#soak-the-rich

In 2008, we ruled out fiscal solutions (bailouts for debtors) and turned to monetary policy (bank bailouts). This preserved the economy but increased inequality and eroded public trust.

Monetary policy won't help. Even monetary policy enthusiasts recognize an 18-month lag between action and result. That suggests monetary tightening is unnecessary. Like the medieval bloodletter, central bankers whose interest rate hikes don't work swiftly may do more of the same, bringing the economy to its knees.

Interest rates must rise. Zero-percent interest fueled foolish speculation and financialization. Increasing rates will stop this. Increasing interest rates will destroy the economy and dampen inflation.

Then what? All recent evidence indicate to inflation decreasing on its own, as the authors argue. Supply side difficulties are finally being overcome, evidence shows. Energy and food prices are showing considerable mean reversion, which is disinflationary.

The authors don't recommend doing nothing. Best case scenario, they argue, is that the Fed won't keep raising interest rates until morale improves.

This could cost you.

Content creators may have heard about Google's "Helpful content upgrade."

This change is another Google effort to remove low-quality, repetitive, and AI-generated content.

Why should content creators care?

Because too much content manipulates search results.

My experience includes the following.

Website admins seek high-quality guest posts from me. They send me AI-generated text after I say "yes." My readers are irrelevant. Backlinks are needed.

Companies copy high-ranking content to boost their Google rankings. Unfortunately, it's common.

What does this content offer?

Nothing.

Despite Google's updates and efforts to clean search results, webmasters create manipulative content.

As a marketer, I knew about AI-powered content generation tools. However, I've never tried them.

I use old-fashioned content creation methods to grow my website from 0 to 3,000 monthly views in one year.

Last year, I launched a niche website.

I do keyword research, analyze search intent and competitors' content, write an article, proofread it, and then optimize it.

This strategy is time-consuming.

But it yields results!

Here's proof from Google Analytics:

Proven strategies yield promising results.

To validate my assumptions and find new strategies, I run many experiments.

I tested an AI-powered content generator.

I used a tool to write this Google-optimized article about SEO for startups.

I wanted to analyze AI-generated content's Google performance.

Here are the outcomes of my test.

First, quality.

I dislike "meh" content. I expect articles to answer my questions. If not, I've wasted my time.

My essays usually include research, personal anecdotes, and what I accomplished and achieved.

AI-generated articles aren't as good because they lack individuality.

Read my AI-generated article about startup SEO to see what I mean.

It's dry and shallow, IMO.

It seems robotic.

I'd use quotes and personal experience to show how SEO for startups is different.

My article paraphrases top-ranked articles on a certain topic.

It's readable but useless. Similar articles abound online. Why read it?

AI-generated content is low-quality.

Let me show you how this content ranks on Google.

The Google Search Console report shows impressions, clicks, and average position.

Low numbers.

No one opens the 5th Google search result page to read the article. Too far!

You may say the new article will improve.

Marketing-wise, I doubt it.

This article is shorter and less comprehensive than top-ranking pages. It's unlikely to win because of this.

AI-generated content's terrible reality.

I'll compare how this content I wrote for readers and SEO performs.

Both the AI and my article are fresh, but trends are emerging.

My article's CTR and average position are higher.

I spent a week researching and producing that piece, unlike AI-generated content. My expert perspective and unique consequences make it interesting to read.

Human-made.

In summary

No content generator can duplicate a human's tone, writing style, or creativity. Artificial content is always inferior.

Not "bad," but inferior.

Demand for content production tools will rise despite Google's efforts to eradicate thin content.

Most won't spend hours producing link-building articles. Costly.

As guest and sponsored posts, artificial content will thrive.

Before accepting a new arrangement, content creators and website owners should consider this.