Minimal viable segment (MVS) involves focusing on a segment of the market which has customers whose needs you can align with. This method is critical because, without it, the potential users with different needs will pull you in various direction hence limiting your start-up resources.
Using minimum viable segment is a great method that can be implemented by entrepreneurs in achieving growth in their businesses. One should focus on identifying a set of customers with similar needs, pain or problem.In identifying your consumers, you should ensure their needs closely match those of other customers in your minimum viable segment. The needs you look for, are those that your product or service will cater for in the market. Using your minimum viable segment in achieving growth can be used in the following way.
This represents the amount that is small enough to dominate. It is used by maintaining your segments as minimum as possible to dominate it easily with the limited start-up resources. Once you are able to dominate it, and then you can be able to claim leadership. Even if the leadership is in your minimum viable segment, it is beneficial for your credibility and positioning for the next segment.
This involves a minimum viable product (MVP) that will require the least product features. This will enable you produce these features in a less complicated manner, but, in a way, that will be able to satisfy the customer’s needs.
Use your MVS repeatedly on your MVP
You should try to use your minimum viable segment on your minimum viable product to ensure that the two are synchronized together. These two should be able to produce better results when combined together, therefore, you must try out until you realize that they are perfect with each other.
Minimum viable segment is a common practice when you see it being used, but quite often it eludes entrepreneurs in one way or another. Most of the time, these entrepreneurs tend to view everything as a problem of the product, other than looking at the focus of the product.