Quickly find out what MVP should you build for your next project
Write down the product/service/trade in which your have good insight
Criteria for choosing this!
Classify your core value type:
Product (Does not need human for value delivery)
Service (Need human for value delivery)
Trade (Connect a service/product to the market. E.g: Retail)
OK! But what is the underlying core value?
Is the underlying product/service physical or digital?
Note, even in online shopping, the product is still physical. Digital means it is possible to consume the value without any physical presence and remotely. certain things like movies can be both physical (in theatre) or digital(in netflix) depending on your mode of operation.
Is it possible for you to provide the underlying product/service as well?
Which kind of product it is?
Is it possible for you to change the service into some product with help of some technology?
Partially (possible to automate/streamline some part of it)
Do you have enough money/resource to scale the business?
Who creates/supplies the underlying product or service?
Individual or Small Business
Is it possible to acquire/hire a handful of them?
Are those individual/businesses losing revenue because they can not market themselves effectively to their target segment?
Can you market your business to your total addressable market in a cost effective way?
If you would share your insight with the individual providers, what is the best way to do it in this case?
Efforts (all other frictions apart from money)
Certainty (that the core intent will be completed as expected)
Risk (Possible additional loss if the service/product is used)
Is it of high value? (difficult to get similar product/service for free)
How often do they need this?
Can they somehow predict when will they need this next?