The main purpose of the idea validation phase is to validate your value proposition and idea in the real market environment and receive the first feedback of the potential users. We want to find out if there is a reliable market and if investing time into building a Minimal Viable Product (MVP) makes sense.
Set the first legal structure to achieve a smooth and legally safe testing environment.
Challenge the value proposition(s) using the “Product Positioning Framework” for clarity & simplicity and set up the main hypotheses to be tested.
Define KPIs that drive our decision on how to move forward and set a clear and simple reporting routine.
Depending on the scope and targeted market, we decide if it makes sense to validate the idea live through a landing page or to create a feasible click-dummy that could also be tested 1:1 within the real environment.
Basic landing page to collect the first feedback. In some cases, first transactions and data collection are possible.
An alternative to a landing page is the creation of a click dummy of the first version. This click dummy will be tested by potential customers to generate feedback for the next steps.
Setup the channels for the traffic generation (this applies especially to the landing page testing).
Decision making based on the achieved results and discussion for the next steps.
The goal here is to build the first version of the product by focusing on the key value proposition and minimal feature set. The final platform (mobile app, web app, chatbot, etc.) depends on the idea and will be defined during the product strategy phase.
Define what should be tested (testing hypothesis) and set a key value proposition of the idea. The hypothesis should result in at least one real use-case from the user’s perspective that was ideally validated during the idea validation phase.
Based on the hypothesis, define what kind of product is needed to test it and set must-have features that are required in order to reach defined KPIs.
Create first product backlog, define first development cycles and establish roadmap based on milestones.
Build the MVP and prepare for the launch.
After the product is launched, the quest for the product-market-fit starts. In order to create a product that people really love and need, many iterations are necessary. In addition to that, it is crucial to generate proper traffic (users suitable for the product value) so that the hypothesis can be validated properly.
Depending on the product type, define operational workflows and set distribution channels based on the targeted market.
Analyze the collected data, talk to the users, gather feedback and create clear actions based on the conclusion.
Create a new development cycle and implement learnings in an agile environment. Repeat 2. and 3. a couple of times.
Pivot, close or scale the product based on the market feedback.
Create and set up a new company and scalable organization structure around your product or service. M&M focuses on the lean cost structure and eliminates all unnecessary expenses and overhead that distracts from bringing value to the customers and scaling the business.
The baseline for company building is to establish, appropriate shareholder structure, a core leadership team with min. two members, and funding for at least 24 months.
M&M takes over the company set up and supports the core leadership team with all aspects of team and organization creation, including hiring and organizational structure.
During the transition period, M&M supports the new company with product development, operations, administration, sales, and marketing.
Handover of the entire organizational, operational, and execution activities to the new in-house team. After the handover, the new company needs to be able to execute solely with the in-house team.
Standalone software-based product developed from scratch
Controlled environment with Martian & Machine as a legal operator
Small and focused multidisciplinary team with ownership
Iterative and lean approach with fast decision making