00:03 Innovation program to disseminate new methodologies

• Program created to disseminate innovation methodologies
• Focuses on customer-centric processes and validation before development

06:39 The construction process consists of three phases: screen, design and construction.

• The selection phase consists of identifying opportunities and creating value propositions.
• The design phase includes the Fast Business product to validate the market and build digital prototypes.
• The build phase creates the minimum viable product to find product-market fit and gather feedback for iteration.

12:48 To grow an MVP, set clear and measurable growth objectives and execute a well-defined digital growth strategy.

• Define clear and measurable objectives before creating a strategy.
• A well-executed digital growth strategy involves teams, tools, processes and channels.
• The minimum necessary equipment must cover all the functionalities of the product or service.
• Data management is essential to validate step-by-step growth.

18:18 Importance of data in the MVP

• Data collection and analysis are crucial to iterate and improve MVP
• Tools such as heat maps, Google Analytics and external APIs aid in data analysis

23:25 Acquisition channels can be divided into active, reactive and hybrid channels.

• Active channels are those in which the user initiates the search, such as Google searches.
• Reactive channels are those in which we go out to look for the user, using communication with images.
• Hybrid channels use both text and images to engage the user, such as Google's esmax platform.

28:42 Budget constraints limit channel diversification

• Budget allocation should be strategic and channel-specific.
• Processes are crucial for daily operations and the generation of the final product.

34:31 The importance of defining growth objectives and adapting to resources

• Equipment and tools must accompany the digital process
• Data collection and utilization is crucial for product improvement

40:09 Encourage the use of methodologies to validate potential markets before investing time and money in development.

• Digital platforms use machine learning to display ads based on user preferences.
• Investment ratio of 1 to 5 in a channel is ideal to avoid hedging campaigns and capping them.

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In today's constantly evolving business world, innovation and customer focus are the keys to success. To effectively validate business ideas and proposals, entrepreneurs often turn to Minimum Viable Products (MVP). In this article, we will explore the three key phases of Venture Building, focusing specifically on the importance of MVPs and the implementation of a sound growth strategy.

Phase 1: Ideation and validation

The initial phase, called "screening," consists of generating valuable proposals, identifying market opportunities and obtaining information on user needs. However, many companies face the challenges of limited customer interaction until the actual product launch. This is where MVPs come into play.

Understanding the Minimum Viable Product (MVP):

An MVP is a product with minimal features that can be quickly developed and tested in the market. Unlike a mere prototype, an MVP is a working version of the product that can be sold and marketed. Its main purpose is to validate the product's suitability for the market and to gather valuable feedback from users for continuous improvement.

The importance of product-market fit:

MVPs allow companies to assess the fit between their product and the needs of the target market. By interacting with users and gathering their feedback, companies can iterate and improve their product based on valuable information. This iterative process ultimately leads to a better understanding of customer preferences and the achievement of product-market fit.

Develop a growth strategy for MVPs:

To ensure the successful growth of an MVP, it is essential to design a well-defined growth strategy. This strategy revolves around four key pillars:

Teams: It is crucial to create teams that match the different stages of the product journey, such as acquisition, interaction, sales and after-sales. The after-sales phase plays a key role in providing solutions and support to customers.

Tools: Leveraging digital platforms, applications and analytics tools facilitates the development, launch and subsequent enhancements of the MVP.

Processes: Streamlining internal processes ensures efficient coordination and execution of growth strategies. It is important that each company tailors these processes to its specific needs and available resources.

Channels: Choosing the right channels to reach your target audience is essential. This involves understanding the characteristics of different channels, such as search ads, display ads and social media, and aligning them with the target demographic.

Leverage data and metrics:

Collecting and analyzing data is critical to growth. Tools such as Google Analytics and heat maps provide valuable information about user behavior and website performance. This data helps identify areas for improvement and make informed decisions.

Adapt the strategy:

Each company is unique and the growth strategy must be tailored to its specific circumstances and resources. The strategy must continually evolve through evaluation and a thorough understanding of market dynamics to ensure sustained growth.

Conclusion:

Business creation requires a systematic approach, and MVPs play a vital role in validating business ideas and achieving product-market fit. Putting a solid growth strategy in place, encompassing teams, tools, processes and channels, is crucial to ensuring the success and scalability of an MVP. By leveraging data and metrics, companies can iterate and continuously improve their offerings to effectively meet customer needs. Embracing innovation and focusing on the customer is imperative for companies that want to remain competitive in today's changing market landscape.