Why Businesses Need to Start with an MVP

Why Businesses Need to Start with an MVP Macaulay Gidado

Every successful business started somewhere. In fact, most started small. Think Twitter, Airbnb, Foursquare, and so on. When these businesses were launched, they weren’t as grand or multi-featured as they are today. They all started with a minimum viable product (MVP) and then grew gradually from there.

Take Airbnb as an example.

Why Businesses Need to Start with an MVP Macaulay Gidado

Two men, Brian Chesky and Joe Gebbia, started by cheaply offering their apartments to people that participated in their hometown conference. They did this to raise money to pay rent. So they designed a simple website showing photos of their flat. It didn’t take long and the demand for the service began to grow really fast.

Today, Airbnb doesn’t just connect hosts to guests, but also connects people seeking adventurous and unusual experiences to people offering those experience. This didn’t happen overnight. Airbnb started with an MVP and then scaled gradually.

So What’s an MVP

Why Businesses Need to Start with an MVP Macaulay Gidado

As mentioned above, it means minimum viable product. It’s simply that product of your dream, which is also valuable, but which requires a minimum amount of resources to create. It simply means starting small.

Think of it as a mango seed. It’s a single thing–valuable, easy to plant, and doesn’t need you to focus on multiple things at once. You plant the mango seed. It gradually grows, developing new branches and leaves, then bearing flowers and fruit. That’s how many successful businesses grow from an MVP to a giant corporation.

Why Start with an MVP?

Reduce Development Cost

Why Businesses Need to Start with an MVP Macaulay Gidado

A minimum viable product is one that requires the least amount of resources to create. According to a report by Go-Globe, 29% of new businesses run out of money before they are fully established. Don’t try to do it all at once. That would only push up your development expenses and before you know it, you are out of money. Start with a product your resources can handle. Then add more features as you grow.

Do a Test Run

Why Businesses Need to Start with an MVP Macaulay Gidado

How do you know for certain that people are interested in (and will buy) the product you want to create? In the beginning, all you have is a viable product. That it shares similarities with a popular product doesn’t necessarily mean that people will be interested in yours. The only way to truly know is by doing a test run with an MVP. By starting with an MVP, you would be able to understand how interested people are in your product and then gradually introduce new features from there.

Receive and Use Feedbacks

Why Businesses Need to Start with an MVP Macaulay Gidado

Which one is easier and better? Using great feedbacks to add valuable features to a simple product? Or dismantling a multi-featured product and doing away with some already-built features so you can incorporate feedbacks into the product? An MVP allows you to start small and then add desirable features by utilising feedbacks.

Save Time and Money

Why Businesses Need to Start with an MVP Macaulay Gidado

Don’t spend a year and lots of money trying to build a fully developed business when you can spend a month and a smaller amount starting with an MVP and then growing from their to become fully established. Ask yourself this question: what if after spending a year and all that money building that full-blown business, it doesn’t connect with people? That would be a whole year and lots of money wasted. By starting with an MVP, you can course correct as you go.

Get Your First Paying Customer and Grow from There

Why Businesses Need to Start with an MVP Macaulay Gidado

Don’t spend too much time building your product that you forget you are doing it to make money. Remember, to make money, you need customers. And using forever to build a complex product isn’t going to help you get those customers.

First, you need something simple. Something that solves just one problem. Something you can sell to one person. That’s where an MVP comes in. If you can sell that product to one customer and the customer likes it, chances are that they will tell their family and friends. From there, you begin to get more customers and grow.

Find out how Macaulay Gidado can help grow your new business.

Inspire Yourself to Business Success with These Ten Quotes From Legendary Athletes

Inspire Yourself to Business Success with These Ten Quotes From Legendary Athletes - Macaulay Gidado

Business is never easy. There are ups and downs along the way, and many entrepreneurs fail simply because they gave up at a difficult moment. To see yours through, you need a healthy dose of motivation and inspiration, and it doesn’t matter from where you get them.

In 2015, Mark Zuckerberg was said to have read 23 books, which he also believed every business person should read. He is also known for jogging regularly. That said, it’s obvious where he gets his inspiration. The big question is: where do you get yours?

Today, I want to introduce you to the world of sports as a great source of inspiration for business people. Business is much like sports. They are both driven by passion, training, determination, competition, and even wins and losses. Below are inspirational quotes from ten professional athletes that can inspire you as an entrepreneur.

Do It Properly

Inspire Yourself to Business Success with These Ten Quotes From Legendary Athletes - Macaulay Gidado

There’s a saying that what’s worth doing is worth doing right. You want to be successful in business? Do it right.

Don’t Be a Coward

Inspire Yourself to Business Success with These Ten Quotes From Legendary Athletes - Macaulay Gidado

Whether you like it or not, you are going to face challenges as an entrepreneur. It’s up to you to either quit or discover a creative way to transcend those challenges.

Which Are You?

Inspire Yourself to Business Success with These Ten Quotes From Legendary Athletes - Macaulay Gidado

I don’t know about you, but as a businessman I want to be part of the first group–those who make it happen.

Be Prepared to Work Hard

Inspire Yourself to Business Success with These Ten Quotes From Legendary Athletes - Macaulay Gidado

If talent is all it takes to succeed in business, then a lot of talented people would be successful business people today. Unfortunately, like many sports, business is 10% (or even less) talent or luck and 90% hard work.

Don’t Be a Quitter

Inspire Yourself to Business Success with These Ten Quotes From Legendary Athletes - Macaulay Gidado

No one becomes successful in business by quitting. If you fail or don’t get it right the first time, get up, dust yourself off, and try again.

Stay Ahead of the Game

Inspire Yourself to Business Success with These Ten Quotes From Legendary Athletes - Macaulay Gidado

A great business person plans ahead of time. They are typically two or more times ahead of their competition. They are able to forecast the future and tap into unseen opportunities.

How Do You Play?

Inspire Yourself to Business Success with These Ten Quotes From Legendary Athletes - Macaulay Gidado

Are you playing it safe? Unfortunately, that won’t always help you achieve the immense success you want. Great business people know when to play safe and when to be drastic. To grow, you need to step out of your comfort zone.

Never Settle

Inspire Yourself to Business Success with These Ten Quotes From Legendary Athletes - Macaulay Gidado

Losers settle for less. Successful people reach for the stars and beyond. The key is knowing how to set high goals without overreaching. Then work tirelessly towards achieving the goals.

It’s Never Too Late to Start

Inspire Yourself to Business Success with These Ten Quotes From Legendary Athletes - Macaulay Gidado

Don’t discourage yourself. So far as you are alive, it’s never too late to start. Take for instance Reid Hoffman, the founder of LinkedIn. He founded the company at the age of 33, but he didn’t go public with it until he was 43 years old.

Give Back

Inspire Yourself to Business Success with These Ten Quotes From Legendary Athletes - Macaulay Gidado

Business is about giving back, adding value to people’s lives. A business that doesn’t solve a problem is as good as dead. Find how you can give back to the people. Give and you shall receive.

These quotes are all from successful athletes, sports legend who pushed themselves beyond their limits in order to achieve great success. If they made it, why can’t you? The truth is that the only thing in your way is you. Step out from your comfort zone and reach for success.

This post also appeared in Macaulay Gidado Medium Publication.

People Are What Matters Most in Business

People Are What Matters Most in Business - Macaulay Gidado

What’s the most important aspect of a business?

No doubt, some people might say the product. Some others might say money. And there are even those that might say the manufacturing process.

Granted. These are all important aspects of doing business, but then they would all crumble without people.

People, in this case, means two things:

Your Customers Matter in Business

People Are What Matters Most in Business - Macaulay Gidado

Sam Walton once said, “There is only one boss. The customer. And he can fire everybody in the company, from the chairman on down, simply by spending his money somewhere else.” Michael LeBoeuf reinforced that quote by saying that a satisfied customer is the best business strategy of all.

The quality of your product, the number of social media followers you have, or the amount of money you spend on your brand means nothing if no one buys what you are selling.

Therefore, every aspect of your business should be focused on two things:

  1. Bringing people (customers) on-board.
  2. Retaining those customers.

To do this:

People Are What Matters Most in Business - Macaulay Gidado
  • Your product or service must be something of value to people.
  • How you balance quality and price should be dependent on what your customers value and how much they are willing to put down for it.
  • The packaging and features of your product should appeal to the people you are targeting.
  • Your staff ought to be nice and professional towards your customers. Otherwise, you might end up losing those customers.

Simply put, people should find your product or service affordable, valuable, and satisfying.

Therefore, to run a successful business, you must build your product or service around people. If you are changing a product feature, relocating your office, or partnering with a new marketing agency, the main reason behind such an action should be customer orientated.

Businesses thrive on value. People buy what they value. Focus on people.

The People You Work With

People Are What Matters Most in Business - Macaulay Gidado

These include you, your staff, your business partners, vendors you outsource tasks to, and so on. As Steve Jobs said, “Great things in business are never done by one person. They’re done by a team of people.”

No single man or woman has all it takes to build and run a business. This is why entrepreneurs:

  • Seek investors.
  • Hire staff
  • Outsource some tasks
  • Partner with other businesses

The point here is simple. Appreciate people and the value they can bring to your brand. Your employees are involved in most aspects of your business, from production to delivery. They are typically the ones that interact directly with your customers. This is why successful entrepreneurs value people and go to reasonable lengths to keep valuable employees satisfied.

What Does This All Mean?

People Are What Matters Most in Business - Macaulay Gidado

Humans are not just the ultimate consumers of products and services. They are also the ultimate producers of products and services. A successful business revolves around both the needs of its customers and staff.

Of course, numbers are important. So are technology and efficiency. However, they aren’t as important as people. Focus on people, on meeting their needs and delivering value, and every other aspect of your business will stand firm.

Find out how Macaulay Gidado can help your brand.

Eight Ways to Make Your Content Marketing Stand Out

Eight Ways to Make Your Content Marketing Stand Out

With the number of blogs crowding the internet, it can be difficult to find your footing much less stand out in the content marketing world. However, with a simple set of rules, you can get your content to hover confidently above seventy-five percent of the multitude.

Successful companies like Amazon and The Huffington Post abide by these rules and, because of that, have seen immeasurable success.

Why can’t you?

Since you have read up to this point, there’s no reason you too can’t experience that level of success. You just have to immerse yourself and your content in the tips below.

Find Your Niche and Be Original

Maybe you aren’t plagiarizing someone else’s content, but originality goes beyond not copying and pasting. Discover your niche and expand on it. Being original doesn’t only help you rank better on search engines like Google, but helps you build integrity and reliability also.

Be Brief and to the Point

With the amount of information on the internet, the average person has the attention span of an undisciplined dog. When you now consider other parts of our lives — our jobs, chores, relationships — you begin to see why it’s paramount for your audience to easily find what brought them to your page. Dawdle over getting your points across and you will lose your spell on them.

Create Attention-grabbing Content

Give your audience something to take away from every post. Is your blog about horses? Strategically placing a new horse training or grooming tip in every post can go a long way in engaging your audience. It’s like waiting for the next episode of Game of Thrones. Your audience knows you are going to post a new tip next week and they can’t wait.

Use Captivating Titles

Some people say, “Don’t judge a book by its cover,” but the truth is that we all do that every day. It’s the way the world works. A great title is like the beautiful wrapping around a Christmas present. Make it a promise, a mystery, a question that identifies with your audience…

Your First Sentence Matters

If your first sentence doesn’t resonate with a reader, that reader will most likely click away to a YouTube video or something else. The bad news is: it doesn’t end there. Your subsequent sentences have to matter also and build on one another.

Update Regularly with Fresh Content

If you want regular traffic to your site, whether via search engines or word of mouth, you ought to post, not just regularly, but new ideas that satisfy your niche also.

Now, think of your website as a TV series. Every week you release a new episode that further explores the world and characters. In this case, you post great, new content that explores your niche. This is what leaves them coming back.

White Space is Good

It forces you to use short paragraphs. No-one wants to read a massive lump of words because it’s tiring to the eye and brain. Using white space efficiently creates a sort of ‘pause’ for the reader, as in stopping after a distance to catch your breath. Here is a good example of an excellent use of white space.

Use Video and Audio

Some people favor watching videos to reading, and a good audio can be useful to folk who are extremely busy. A mother, who wouldn’t read while cooking, just might decide to listen to your podcast instead.

There you have it. Stick to these rules and the many others across the internet, and your content may yet rise above its peers.

Find out how Macaulay Gidado can help with your content marketing.