Lean startup from Eric Ries' book says that the build-measure-learn loop is a way to put your product out there upfront and have it tested against actionable metrics and with real users (early adopters, at this stage). It tells you to have a minimum viable product designed with acceptable flaws but that serves to measure a certain hypotesis of value or growth. I tried to google around some startups in the materials engineering and science field, and Ries even cites one in his book. What I did not found (or thought of) is how to transpose his principles to startups dealing with materials. I myself am starting one and I find it tricky to tweak my material to have certain properties as an MVP. Does anyone have expertise in this field? How do you have your product tested? Do you ship free samples to potential customers? Do you put up a fake e-commerce just to track customer clicks and advertise the website?
Yes Thiago, you should have design a MVP and test it in the market. I know some people do free shipment of samples but that is not always viable. As you have mentioned you can also do either an e-commerce or direct customer survey and to know the requirements and expectations of the customers, accordingly you can modify your business model.From the interaction with possible customers and investors you will get a good idea about your business model.
Cheers
Lijo
For everyone following this question, I made some progress on this matter. Regarding MVP, small batches and the build-measure-learn cycle, I came up with the following ideas. One hypothesis I was trying to evaluate was if there was a need for my product, so I bought the same product from my competitor and I made some of my own. I sent free samples to a focus group in a blind study: they didn't know if they were using my sample or my competitor's, I just said that it was a competitor's high-quality product they were used to work with. The results showed that they are insensitive to the material origin as long as it comes with the characterization sheet. Anyone has got more ideas? Let's build knowledge upon this exciting field of materials startups. I'll keep you posted as I do more trials.
Here is one idea that has worked for me.
I believe you need to create a systematic well-thought out plan based on value-based engineering and world-class measurements. You need to determine what are the characteristics that you are looking for in that product that are differentiators for the future products or to its future customers. Then, you need to choose new ways of satisfying those characteristics (say new solutions or new strategies) via a set of possible means (such as tools and techniques), including techniques such as material substitutions.
Then, you need to perform a value-based measurement or performance evaluations -- finally create a matrix of characteristics versus strategies.
Rank them and evaluate what works the best.
Based of such findings, you need to marrow down the choices to a couple that are more valuable to you and the customers.
I followed this methodology in many novel applications. The following paper shown here describes an such a methodology presented in a generic fashion.
Let me know if you have any questions.
Your inputs will help others to take such bold steps.
Thanks
Brian
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