We’ll walk you through how to validate your concept, build a Minimum Viable Product (MVP), test it with real users, and get ready for your first funding round.
Why start with an MVP — and not a “finished” product
Don’t go all in too early. Building a full-scale product with every feature on your wishlist is expensive, slow, and risky. Launching with an MVP lets you validate your assumptions faster, collect real feedback, and build something people actually need – all while conserving resources.
It also helps you start conversations with investors sooner. Pre-seed and seed investors rarely expect perfect code; what they want to see is customer interest, traction, insight, and adaptability.
So: build iteratively. Release a version, learn from it, improve it, repeat. That’s how most great products are born… and how you avoid building a product that’s completely redundant.
💡 Pro tip: Build. Test. Iterate. Don’t build the “final” version first.
Step 1: Validate the problem and the market
Before you open your laptop to code, ask yourself a few important questions:
- Is the problem you’re solving truly painful for a clearly defined group of users?
- Are people actively searching for a solution – or will you have to convince them they need one?
- Is the market big (and growing) enough to justify building a startup around it?
How to find out:
- Run 5–10 interviews with potential users. Understand their pain points, current alternatives, and willingness to pay.
- Launch a quick landing page or ad campaign to gauge demand. See how many sign-ups or clicks you can get.
- Estimate market potential (TAM, SAM, SOM) and analyze the competition – who’s already solving this problem, and what can you do differently or better?
- Do a rough revenue projection. Would the numbers make sense even at small scale?
💡 Pro tip: Think broadly about competition. Netflix doesn’t just compete with other streaming platforms – its real competitor is also sleep.
Step 2: Define your value proposition and MVP scope
Once you’ve validated the problem and the market, it’s time to clarify three things:
- Who’s your early adopter? The first type of user who’ll care deeply enough to try your product early.
- What’s your key value proposition? What will make your solution stand out and deliver value better than others?
- What’s essential right now? List your must-have features vs. nice-to-haves.
Example: If you’re building a SaaS product, your MVP might only include user registration and one automation – not a full dashboard with ten modules.
💡 Pro tip: Simplicity scales. Focus on one killer feature that solves a real problem — and test that first.
Step 3: Choose your tech stack and build fast
At the MVP stage, speed matters more than tech perfection. Consider no-code or low-code tools (like Webflow, Bubble, Airtable, Zapier) to ship something functional in weeks, not months.
If you’re coding from scratch, keep the architecture simple and flexible. Add only essential analytics: user flows, retention, key actions.
💡 Pro tip: Your MVP is a learning tool, not a finished product. Its job is to help you decide: move forward, pivot, or stop.
Step 4: Launch, learn, and iterate
Now that your MVP works, it’s time to test it in the wild.
- Get your first users (5–20 is plenty). Aim for real customers, not just friends and family.
- Track metrics that matter: retention, engagement, satisfaction.
- Talk to your users – a lot. What do they like? What confuses them? What’s missing?
- Act fast. Use feedback to improve UX, remove friction, and test new hypotheses.
💡 Pro tip: Work in short sprints. Small, frequent improvements beat massive, slow ones.
Step 5: When and how to raise your first round
Once you have a working MVP, early traction, and happy users, it’s time to consider raising pre-seed funding.
Here’s how to prepare:
- Financial model: Build a simple 24-month forecast (P&L + cash flow). Investors will use this to discuss funding size, goals, and expected milestones.
- Funding amount: Plan realistically – usually enough to cover 12–18 months of product and growth.
- Valuation: Be pragmatic. Early-stage valuations are about potential, not spreadsheets.
- Investor fit: Target funds and angels experienced in early-stage and CEE markets.
- Process: Start conversations early (3–6 months before the round). Keep investors updated as you make progress.
💡 Pro tip: Pre-seed investors know your product isn’t perfect. What they’re really evaluating is you – your speed, clarity, and ability to execute.
This is just a quick run through. If you’re interested to dive deeper, we’ve covered this topic more extensively here.
Step 6: Build your story and investor materials
As your product evolves, start shaping your fundraising narrative. Investors at this stage focus on:
- Team: Who you are and why you’re the right people to solve this problem.
- Traction: Early user growth, engagement, or retention – even small data points count.
- Business model: How you’ll make money and scale (unit economics included).
- Roadmap: What milestones will you hit in the next 12–18 months, and how will the funding help you get there?
Prepare a clear one-pager and a 10–16 slide pitch deck covering: problem, solution, market, traction, model, team, and ask.
MVP – and what comes next
Moving from idea to MVP is what separates dreamers from builders.
Your next milestone? From MVP to Market — launching, acquiring users, and scaling up.
We’ll cover that in one of the next articles. Stay tuned.