6 Simple Ways to Create an Effective Minimum Viable Product – (Day 12/30) #Bizathon2

Welcome back!

If you haven’t heard, I’m David Aston and I’m taking over daily blogging for Rito.

And while this #Bizathon2 is by no means about me, it’s important you know who I am…

I’ve literally shown thousands of entrepreneurs how to make money online with my websites, articles and products.

You may even recognize me from my days blogging regularly at IncomeDiary or RetireAt21 – Two incredibly popular online business blogs. In fact some of the biggest industry names credit their initial online success to those two websites.

So how did I link up with FSO?

A couple days back Rito posted on Facebook about needing a content writer whom really knew what he was doing in order to free up time.

Time Affect on Minimum Viable Product Creation

As fate would have it, I was looking to begin writing online once again. But this time looking to work specifically with new startups, possessing similar values and transparency as myself.

FlyingStartOnline was the perfect fit.

After hitting it off with Rito via private message, I’m now dedicating my energy to ensuring YOU receive maximum value from these daily posts. In turn allowing Rito to continue growing the business.

Enough about me, let’s get to it!

In today’s 15 minute sprint we learned how to simply create an effective Minimum Viable Product and the steps needed to ensure it’s success.

Minimum Viable Product Doodle

A Minimum Viable Product (MVP) allows for testing in real-time market conditions; using everyday consumers to evaluate and tweak its performance.

The minimum viable product usually includes only necessary features allowing your company to market it.

Why wouldn’t I just wait until the product is finished before releasing?

Great question.

Because the MVP allows you to evaluate the product in real-time, reducing costs of flops, and ultimately testing product performance to maximize value.

Your minimum viable product can be introduced as a membership site, demo video, landing page, or email series etc.

“How do I determine the features needed before it is released to the market?”

Actually, this varies based on business plan, budget, development timeline, and of course the nature of the product itself as you’ll discover in the video below.

Sales Funnel Recap

Before we continue, let’s quickly recap backend steps required prior to launching your MVP:

  • Video Sales Letter – VSLs are a must for online lead conversion.
  • Order Bump – One time offer connected to the checkout page.
  • Upsell 1 – If they bought the initial product, they’ll likely buy more
  • Thank You Page – Introduce yourself and the product. Leave a lasting impression.
  • Payment Integration – All of this means nothing without a payment processor.

Simply utilize FunnelForMe if creating your sales funnel seems daunting.

Your Minimum Viable Product

As you saw in the video above, we used a membership site as our MVP example.

Creating the product pages and publishing the menu for your MVP is the easiest way to get a big-picture view of the project; structuring it to offer maximum value with minimum hassle.

In many ways your membership MVP will function as a mini-site within your main website.

Let’s Begin:

  • Step #1 Create Your Welcome Page
  • Step #2 Remind Them Why They Paid You With An About Page
  • Step#3 Have A Community Members Area So Private Members Can Mingle + Build
  • Step #4 Encourage & Enhance Mingling With A Mastermind
  • Step#5 Offer A Quick, Convenient, and Exclusive Toolkit
  • Step #6 Integrate (closed) FB Group for Members Only

**Bonus**Step #7 Don’t Forget the Bonus!

6 Simple Ways to Create an Effective MVP

FSO Minimum Viable Product Landing Page

#1. Create A Sharp Welcome Page

First Impressions are just as important online as they are in the physical world.

We know your users already have some level of faith put into you at this point, but they’re still on the fence.

The Impression you leave after taking their money for the first time will not only determine whether or not they buy from you again, but if they return to your website at all.

Welcome your new users in a hyper-impactful way immediately upon making them paid members. The more momentum built during the beginning of a paid users journey, the more likely they are to buy again.

An easy way to do this, is buy offering an additional gift of great perceived value. This will be a complete surprise and not mentioned elsewhere.

The amount of gratitude they’ll feel will create a loyal user for life.

#2. Remind Them Why They Paid You

Do this with a product about page.

This may seem redundant but it’s crucial because of the subliminal effects it has on the user.

Sometimes people become frustrated or overwhelmed. A simple reminder of the powerful opportunity they now possess can be the difference between a successful client experience and a refund.

Simply take highlights from the sales page and tie them in with your own personal success story.

Done.

This page should be simple and serve strictly as a reminder. Consider adding a link to a FAQ and / or an “I’m Stuck” page.

#3. Encourage Member Communication

You’ve created a useful product and have a few members on board.

Adding a community chat area can exponentially enhance user experience, adding more perceived product value than you ever would have considered.

When people bounce ideas off others in the same boat as them, suddenly fire within everybody is being stoked and methods being implemented – all the while adding to your own authority.

User generated content is what makes some the worlds most popular sites, so popular – your site should be no different.

#4. Build The Community With Masterminds

This one is fairly straight forward and continues to build on the previous concept of user generated content. I’d be incredibly surprised if your favorite businesses weren’t initially conceived via a mastermind.

Humans are social creatures and tend to utilize and build on the energy closest to them. Positive and encouraging group energy can move mountains.

It’s a magical thing and a must for any business or progressive community.

#5. Offer An Exclusive Toolkit

This is important.

People not only want to feel special, they want to make sure they have an edge on their competitors.

Offering a toolkit containing resources not found elsewhere on the site, makes you seem like a guru and gives the impression of users receiving an edge.

Tools we used in the video:

#6. Integrate A Closed Facebook Group

Closed Young Entrepreneur FB Group

This one has two primary objectives. The first being people are simply on Facebook throughout the day. Having conversations via a private group, will often times result in positive public posts and free publicity about you and your product.

The second objective is offering additional convenience in the form of access and clarity of information. Some people become easily overwhelmed, so considering they’re already on Facebook, this may very well relieve stress.

Easily incorporate your FB group to your members area with MemberMouse.

BONUS #7. Don’t Forget The Bonus!

Again, people want to feel special.

Most people also want a lot for a little and they want it now!

You have paying customers, so you’ve got validation of your product and funnel being decent.

However, decent is not enough. We want STELLAR because stellar sells itself.

The user was already satisfied enough with the offer and your value, and now has received another incredible bonus completely free of charge and it’s something they can use immediately. Doesn’t have to be fancy, it just needs to be useful.

This useful bonus will cement you as a loyal, trustworthy human, one they will gladly give money to again in the future – creating continuity.

Remember, your minimum viable product is a critical step, for new product development. It can save your company from unexpected costly surprises once the product is released on a greater scale.

That’ll do it for day 12!

If you’re not already being kept in the loop via our #Bizathon2 list be sure to sign up today!

Questions, Comments or just want to say Hi? Please do so in the comments section below.

To your success,

-David Aston

2 Comments

  1. Ashley August 22, 2017

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