Do you need a MVP?

TDLR: Don’t build a product, build conviction first. Prove users want it, then write a line of code. Validation FIRST.

Quick questions to ask yourself:

• Increasing demand and urgency to have the problem solved.

• Customers must have their problem solved.

• They are willing to pay a significant amount for the solution (which leaves a good margin for us).

• The problem is recurrent or occurs frequently.

I seen too many founders focused on build a MVP and often times they haven't even done any user interviews to figure out if this MVP product features are needed and often spend massive amounts of capital on dev resources.

After reviewing hundreds of early-stage Web3 projects as a Web3 investor, I've noticed a pattern: founders in web3 build to the hottest popular narrative in web3, for example it was Metaverse, Account Abstraction, RWAs, AI. Web3 builders are building what they think VCs want to see, not what actual users need, though often the projects that are successful often either the founder faced XYZ problem themselves and then it this is shown in the narrative and the way the problem is Pitched (I faced XYZ problems, I then released this way a problem for X users so decided to build product XYZ).

So How to Validate:

Demand Signals (No Product Needed)

• Landing page with emails

• Run quick user surveys

• Run paid ads to test click-throughs and conversion

• Collect Letters of Intent (LOIs)

  • Build a clickable prototype in Figma or InVision and get feedback

• Pre-sell or collect deposits, offer discount on product for early sign ups

• Host a demo sessions and see sign ups

• Cold target users on Twitter, TG, Linkedin

  • Though leadership posts on social platforms

If the demand is high you might be on to a winner :)