#03 Building an MVP | Tuomas Artman | Slush 2023

Think about MVP as a journey, not a product

• MVP is not a one-time event, but a process of iteratively refining your product-market fit
• It’s essential to scope down your product and target a specific audience to start with

Validate your idea through prototyping and feedback

• Build a quick prototype or MVP to test your idea with your target audience
• Talk to your users, ask for feedback, and iterate on your product
• Validate your idea through early sales, user adoption, or enthusiastic feedback

Focus on building a product-market fit

• Product-market fit is key to a successful startup, not just a good product
• You need to find a problem that needs solving, and then build a solution that fits their needs
• Focus on building a product that resonates with your target audience

Use user feedback to refine your product

• Use user feedback to identify areas for improvement and prioritize your development roadmap
• Analytics and data-driven insights are valuable, but don’t overlook the importance of user feedback

Don’t force people to pay for a mediocre product

• If your product isn’t competitive, isn’t meeting your users’ needs, or isn’t delivering value, it’s not ready for monetization
• Focus on building a high-quality product that users will love and pay for

Managing a waitlist effectively

• Use your waitlist to validate your idea and gather feedback from potential users
• Don’t force people to sign up for your product if it’s not ready; prioritize building a high-quality product
• Focus on building a product that resonates with your target audience and delivers value to them

Think big, but start small

• Start with a small target audience and iterate your way to a larger market
• Don’t try to build a product that tries to be everything to everyone; focus on solving a specific problem for a specific audience

Don’t underestimate the importance of user feedback

• User feedback is critical to understanding your users’ needs and building a product that meets their expectations
• Don’t neglect user feedback in favor of analysis or data-driven insights