Before idea realization, many people differently call the result estimated. The most common terms that are used are POC (proof-of-concept), MVP (minimum viable product), and Prototype. So what's the difference?
Often, companies spend years developing products, then internalizing that the hypothesis is actually wrong. A carefully designed product that took a lot of time and money to design, turns out to be unnecessary for anyone. In many cases, the reason for the failure of the startup is the absence of market demand. MVP helps to make sure that the product is really needed. It can also help to abandon the unprofitable idea.
A successful startup seems mesmerizing for people: a person began from scratch and turned the idea into a multi-billion dollar business. But there is also a flip side of the coin: for one successful entrepreneur, there are nine who failed miserably. Nevertheless, some reasons for failure are quite common. Let’s have a look at those. Remember that even giant companies like Google and Twitter were startups years ago. The only thing that differentiates them from those startups that failed is the great organization and dedication of creators.
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