Week 2 - MBA 6101 - Ascend Your Startup
Chapter two of Ascend Your Start-Up initiates an interesting discussion in recognizing the “desire to abandon camp” and let go of the product because things are starting to become difficult. (Yu, pg, 60, 2021) As an entrepreneur, it is healthy to hit blockades and walls along the path of developing a product or service as that initiates the answer for a tough question. It gives purpose to your product or service and shows why it is important to the customer. By developing a minimal viable product (MVP) allows the entrepreneur to allow their product to enter the market as quickly as possible and begin to pique the interest of customers. An MVP can be altered over time and adjusted to better fit the customer’s needs. For example, Dyson’s handheld vacuum has multiple versions, but the first offered the basic functions a customer needs. As Dyson created interest in the market and captured many customers, they can develop newer versions of their product with minimal but needed changes.
As one develops their product, it can help in today’s world to use social media as a marketing tool. Finding influencers that have millions of followers and credible can be easy and allows one to send their product to them in exchange for a review and promotion of it. Social media, such as, YouTube, Instagram, TikTok, etc. hold a strong grip over society and are facilitators in moving products. By using social media, one can pilot their product in an appealing manner that can not only introduce it to the customers, but also develop new interest and demand for it.
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