Getting set up and off the ground with a Minimum Viable Product (MVP) is a pivotal phase in building a successful side hustle. The MVP is the initial version of a product that serves as a foundation upon which further enhancements are made. During this crucial stage, you have to identify the core features and functionalities essential to solving the target problem or meeting the target audience’s specific needs.
Join your host, Emma Edwards, in episode two of the Side Hustle School mini-series as she delves deeper into the art of creating your Minimum Viable Product (MVP) and getting set up and off the ground. She expounds on the five things you need to define your MVP, streamline your development process, and ensure that your side hustle takes off successfully. Emma’s expertise and practical tips will give you invaluable insights into turning your innovative ideas into a tangible, market-ready product.
Don’t miss this opportunity to kickstart your side hustle and turn your passion into a thriving venture!
[00:01] Episode intro and what’s in for you today
[01:39] The acronym MVP; Minimum Viable Product
[03:07] Niching down and why it’s important for your MVP
[04:34] The five things you need to define your MVP
[05:04] A brand or business identity
[08:18] A clear product or service to sell
[11:04] A price your target audience can pay for
[14:57] A place where you can inform your audience about your product
[18:10] A place where your audience can pay for your product
[19:51] Bonus add: Admin and Logistics
[21:50] Wrap up and ending the show
“A big part of being in business of any size is being able to spot and capitalise on opportunities, so going in with a minimum viable product that you intend to learn from and to tweak based on the market response is powerful.” – Emma [02:47]
“When you are naming your business, do a quick trademark search to make sure you’re not infringing someone else’s trademark because it can cause you significant problems down the road.” – Emma [05:25]
“Your price point, especially at MVP level, needs to feel comfortable above everything else.” – Emma [13:47]
“MVP concept stretches beyond just the product or service that you are offering to your business as a whole.” – Emma [15:20]
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