Fixing an MVP and launching a two-sided marketplace

Fixing an MVP and launching a two-sided marketplace

Project overview

When First Principles arrived onsite, the team had spent millions on product engineering and had only a broken MVP available to users, hardly any of whom had ever used the product.

Within months, First Principles stabilized the build, refined and secured the core IP, and re-launched the product focusing on testing its most valuable proposition for users.

Client
Data Marketplace
Year
Services
Launch Preparedness
Platform
Web and Mobile

Execution

We started our engagement with a soup to nuts startup diagnostic to understand the strengths of the product and the team and quickly identified opportunities to launch more quickly.

  • We reduced core workflows from four sets down to one that we emphasized for all users
  • We re-evaluated and refactored the design to emphasize the core workflow
  • We addressed a major engineering execution challenge around the company's core IP
  • We generated a funnel for private beta customers to test the core value propositions and established a feedback mechanism for learning from our users
  • With strong results, we opened up the private beta

Project results

After our engagement, we were able to more than double the company's private valuation. We proved the core value hypothesis, developed a strategy for executing on the "hard" and "easy" side of the marketplace and began aggressive adoption work.

Fixing an MVP and launching a two-sided marketplace

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