Why Build Your Minimal Viable Product?

I believe it is important to view entrepreneurship from a variety of perspectives. Season two of the Canadian Side Business Podcast is now live and I am so excited! As we head down the East Coast of Canada virtually, I interviewed Chris O’Shea, Senior Business Development Advisor at Business Development Bank of Canada living in Halifax, Nova Scotia, Canada.  Chris also have a Canada Side Hustle business, called, Unfussy Wine with his wife because of their love for diverse wines. 

In this first episode of season two of the Canadian Side Hustle and Business Podcast, we examine building a minimal viable product through the lens of a Business Advisor, that connector, who assists entrepreneurs to access connections, funding, and the relevant resources which will to help to scale and grow your business. Two questions which I think you should definitely take note of this episode of are:

Question: What they you looking for from entrepreneurs?

Guest Response: I certainly like to see some level of business development planning such as how do you get customers? It is great to build the best mousetrap; something new, exciting and interesting into the tech space or the market in general, but at the end of the day, how is that going to sell? That is where I get more involved and interested. So I want to know, have you built something that the economy actually wants? Is this something that somebody will buy, whether that is a service or a product ? What does that customer at the other end look like? And how are you going to get in front of them. How are you going to scale, as you look to go from $0 to $1 million to $10 million to $100 million in sales? 

Question: What are some of the things an entrepreneur needs to think about when building a minimal viable product?

Guest Response:  It is always about what is the value proposition that goes along with it? What are you building? Is it linked to some level of technology that is already out there and incumbent? Is it unicorn driven? We need to understand what that means, because both of those angles have implications.  Think about your customer, what do they need? What do they want to get out of that process? How do you get into the market smartly with a finished product that can add some value? And how do you make it scalable and add features where it becomes a much more interesting product for your core customer? 

Listeners, these are many questions to think about and to get some of the answers, take a listen to the interview and let me know what you think.

Some key golden nuggets from this episode are:

  1. Be Curious;
  2. Be agile and have a plan to pivot your business into the new digital realm;
  3. Data analytics will be key to measuring your sales and marketing efforts;
  4. Be purposeful in building your sales team; and
  5. Delegate and equip your sales team to do their jobs well because they will need help to succeed.

The Canadian Side Hustle Business Podcast with Producer and Host Irenia Roussel,  was designed for you to give you the inspiration and tactical advice you need to succeed in business. There will be  no sugar coating on the hard steps.   You will  need to hear this to help you  stay in the long game.  

Every week, we will bring you some key tactical business insights to help you grow and scale your Canadian Side Hustle Business. Be sure to follow us on instagram, Facebook and twitter. Your feedback is important to us because this is how we can make this even more relevant as we build this platform for you!  Let me know how this episode impacted you. Send us a message.

We hope you find your new vibes in this new super normal in 2021! All interviews are conducted remotely by host, Irenia Roussel.

Author: Irenia Roussel

Irenia has been a Business Advisor to growth oriented entrepreneurs for the past 15 years. She has significant expertise in international business development and marketing. She enjoys working one on one with clients to build their capacity of as well as connect them to the right resources required at the right time. She is also the host and executive producer of two podcasts geared at existing and aspiring entrepreneurs, namely: The Canadian Side Hustle and Business and @Livewithirenia sharing amazing stories of dynamic individuals along their journeys. Her podcasts provides practical tips for business and career development. Irenia is on a mission to build great global impact projects and podcasts!

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