EP63 – Digible Riffs – When should you launch a new product or service?

Welcome back to the Digible Dudes podcast. Today we have a short episode where we dive into what you should know about when to launch a new product. In today’s episode, David and Reid pay their attention to a book, New York Times bestseller, “Zero To One’’ written by an American entrepreneur and investor, Peter Theil. In this book, the author dives into several concepts around products that we use in this episode to talk about launching a new product.

Stating the conversation, David shares details about the book, its author, and the key concepts that the author mentioned in his book. Then, David and Reid share their thoughts on the concept of MVP, minimum viable product, how the author Peter mentioned that concept in his book, and some other couple of examples about this MVP being used to build successful companies.

Further down in the episode, Reid talks about another book, Lost and Founder, written by Rand Fishkin, and how the concepts in that book compare to the ones mentioned in Zero to One along with some examples of well-known entrepreneurs who have expressed different views about the MVP concept.

Talking about long-term strategic planning for a startup, Reid shares his thoughts on the vision a startup founder must have in order to kick off their business. Reid further elaborated on the MVP mindset, its pros and cons, and what you should keep in mind about following the MVP concept on a product.

Products are different from features, and it’s crucial for a business to get clear about products and features. In the next part of the episode, Reid shares his thoughts on differences and similarities between products and features, and how it relates to the concept of MVP. Wrapping up the conversation, David and Reid pay their attention to how startups built on the MVP mindset grow into bigger and better companies and what it takes for a startup to make it to that level of success.

[02.40] The book “Zero to One” – The book, author, and the key concepts the author discusses in the book.

[03.43] Minimum Viable Product- What is MVP, how it can be used to develop and deploy a new product, and a deep conversation about great entrepreneurs who had different views about the concept of MVP.

[08.27] MVP Mindset – Reid elaborates on the MVP mindset, its pros and cons, and how it applies to startups.

[12.49] Strategic Long-term Planning – David shares his thoughts on the kind of long term vision you need to kick off a successful startup.

[17.08] Product Vs. Features – Reid talks about how a product differentiates itself from a feature and how the MVP concept comes into play.

[20.15] Growing and Expansion – What it takes for products that start with the MVP concept to successfully grow into bigger scale products with time.

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