A hardware product has discrete stages in its lifecycle from concept to completion, or more colloquially: from Cradle to Grave. Each of these stages has a purpose with its own set of goals and exit criteria. If not administered properly you greatly increase the risk of a less than successful product launch plagued with delays and budget overruns. In the worst case, you completely miss the market window and your chances of any success.
Saying you’re working on an MVP is all hip and cool these days, and part of the now prevalent Agile methodology. But, I posit: Do you really know what your MVP is? How do you know when you’ve reached it? This article helps you better understand when an MVP is complete and what the next step is after a successful MVP.
I noticed the term “Startup” gets thrown around too loosely these days. It’s hip to be working for a startup company, especially in tech. Consequently, this use of the word has been overloaded to encapsulate as many companies as possible so they all can feel included in this “cool kids club". But what is a startup really? What defines it? And when is it time to move from being a startup to the adult table?