rural carriage

I am Bengain, and this is not my real name. I haven't found anyone to talk about my journey in the world of business with, so here I am. and the story is [here]..

Good evening.. How was your day? You know, children are truly beautiful things in life. Before my siblings got married and had children, I didn't really like children that much. I liked them, but as you know, we men don't like noise. We love them, but we don't like them to be around us all the time.. It remained that way until my siblings got married and had children. Seeing them grow little by little. Simple and lovely creatures, especially when they start interacting with their surroundings. Boys are beautiful up to a certain age, then they start causing trouble. Girls are even more beautiful and gentle than boys, and the older they get, the more beautiful they become.. In the apartment below us, my younger brother lives with his wife and their daughter, who is not yet two years old. Every night when I come home, she greets me and says hello. Our house is the grandparents' house, so I live with my parents and almost every day my siblings visit us, and my younger brother and his family spend most of their time with us. We eat and live together, and when night falls, they go back to their own home to sleep and return the next day. Today, as I was returning home, my niece wasn't playing in the living room, but sitting on one of the couches holding a phone. When I entered, she didn't forget to say hello, but she reached out her hand while sitting in her place from a distance, asking me to come and say hello to her.. You know I did.. In fact, you can never say no to children!

As for work, not much happened with me today. There were a few tasks that I had to accomplish, and I did a good job with most of them. I didn't leave early like I usually do at the end of every week.. I want to adjust my daily routine, there are some additions that I want to make. Some matters that I need to allocate more time for. I found that a quarter of an hour is not enough to write notes about the day's tasks, prepare tasks for the next day, and enter them into the laptop.

I have been thinking about a topic I wanted to discuss with you today, and I found that I should share with you a concept that I have learned in business, which is simple yet brilliant! This concept is commonly referred to as MVP, which stands for Minimal Viable Product.

As we mentioned in previous days, startups are often built based on some initial assumptions set by the founders, and they verify and correct these assumptions over time. However, there is another characteristic inherent to startups, which is that they are resource-constrained (mostly). Therefore, they do not have the luxury to try everything they desire or spend a long time developing their products until they are fully market-ready. Additionally, how would they know if the market wants the product they have created or if it wants all the features they have developed? This is where the idea of this simple concept, the minimal viable product (MVP), comes into play. It is a usable product that contains the core features and is open to future development.

But what does that mean? Let's assume that you are living before the invention of cars, where people used horse-drawn carriages for transportation. And you came up with the idea of using steam engines for transportation instead of carriages. Your MVP would be a carriage body with an added steam engine, along with the essential elements that passengers would need to try out, such as seats. Aside from that, you wouldn't need any luxurious seats, fancy rooms, or any non-essential additions to the functionality of the car.

But why is this concept brilliant? What if we summarized the benefits in bullet points before answering the question? Well, let's do that.

Firstly, it helps in utilizing the minimum necessary resources to test the product based on its core features only, thus measuring the overall success or failure of the product.

Secondly, it reduces wasted hours in building and launching the product as quickly as possible.

Thirdly, it allows for delivering the product to customers as quickly as possible.

Fourthly, it enables receiving feedback in a timely manner and developing the product according to market needs, thus reducing resource waste while developing more reliable features for use.

Fifthly, it helps in building the brand faster and leveraging this advantage in the market.

Now perhaps it becomes clear why this idea is brilliant. It harnesses the least amount of resources in developing a product that aligns with market demands in the shortest time possible, or it removes it from the market with the least time and cost that the company may incur. And this is very important in the business world.

Can this principle be used outside the business world?... Think about the answer!

My second niece (not the one I mentioned earlier) was lying in her father's arms a few days ago, and he asked her, "What's wrong?" She replied, "My battery is low." And now I feel like my battery is low too, and I need to go to sleep.

I'll see you in the coming days, and have a good night.