February 28, 2022

How To Build a Minimum Viable Company

A summary of one of our favourite blog posts from Ann Miura-Ko

Founder Resources

Text Link

Summaries From the Masters

Text Link

Ann Miura-Ko is a co-founding Partner at Floodgate. A repeat member of the Forbes Midas List and the New York Times Top 20 Venture Capitalists Worldwide, Ann was also named the “Most Powerful Woman in Startups” by Forbes.

Discover a few of the articles most essential points below.

Two Stages of Building a Billion-Dollar Startup:

  1. Value-seeking stage: Focus on delivering new value to an ecosystem
  2. Growth-seeking stage: Accumulate customers en masse with increasing speed and predictability

The Importance of Inflection Insights:

  • Inflection insights help identify industry shifts and opportunities
  • To succeed, your insight must be anti-consensus and correct, exponentially impactful, and durable and defensible

Reaching Product-Market Fit: Build a Minimum Viable Company

  1. Create Product Value:
  • Understand the job your product is hired to do and excel at it
  • Ensure your product delivers more value than it costs
  • Create as many "WTF moments" for customers as possible
  1. Ecosystem Fit:
  • Understand the entities and dynamics within your industry ecosystem
  • Analyze money flow and information flow within the ecosystem
  • Assess how your entry will alter the ecosystem
  1. A Viable Business Model:
  • Develop a pricing and margin structure
  • Establish a customer acquisition strategy
  • Create a customer success plan
  • Test pricing even before reaching product-market fit

Achieving product-market fit requires building a minimum viable company with a strong product value, ecosystem fit, and viable business model. By focusing on these elements, founders can lay the foundation for a unicorn-level startup.

You can read the full article here: https://www.beondeck.com/post/minimum-viable-company