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Building and Scaling a Product-Led MVP
About Lesson
Welcome to the planning phase of your MVP journey! In this lesson, we’ll lay the foundation by setting clear goals and objectives for your MVP project.

Objectives and Expected Outcomes

  1. Goal Definition: Clearly define the primary goal of your MVP project.
  2. Key Metrics: Identify the key metrics you’ll use to measure success.
  3. Alignment: Ensure that your goals align with your overall startup vision and mission.

What You’ll Learn

Goal Definition

Start by asking yourself:

What do you aim to achieve with your MVP? Is it to validate a specific feature, test market demand, or attract initial users? Your goal will shape the direction of your MVP project and guide decision-making throughout the process.

Key Metrics

Once you’ve defined your goal, identify the key metrics that will indicate whether you’ve achieved it.

For example, if your goal is to validate market demand, metrics like user sign-ups, engagement rates, and conversion rates may be relevant.

These metrics will help you track progress and make informed decisions.

Learn nearly every type of startup KPIs and Metrics.

Alignment

Ensure that your MVP goals align with your overall startup vision and mission. Your MVP should serve as a stepping stone towards achieving your long-term objectives. By keeping your MVP goals aligned with your larger vision, you can ensure that every step you take contributes to the success of your startup.

Tools

Goal Setting Frameworks:

To define clear and actionable goals for your MVP project, utilize frameworks like:

  1. SMART (Specific, Measurable, Achievable, Relevant, Time-bound)
  2. OKRs (Objectives and Key Results)

Metrics Tracking Tools:

Track key metrics and measure the success of your MVP against your defined goals,use analytics platforms like:

Real-World Insight

Consider how different business models will require certain types of core features. Utilize these insights to tailor your MVP planning process to your specific business model and target audience.

Key Takeaway

Setting clear and achievable goals is essential for the success of your MVP project. By defining your goals, identifying key metrics, and aligning them with your startup vision, you can lay a solid foundation for your MVP journey.

Ready to dive deeper into planning your MVP? Let’s move on when you’re ready!

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