Minimum Viable Info
The tweet below got me thinking about an interesting concept: #MVI.
Like MVP (a product with just enough features to be usable by early customers), MVI is the minimum amount of information/data/research/analysis needed to make a viable business decision.
The tweet below got me thinking about an interesting concept: #MVI.
Like MVP (a product with just enough features to be usable by early customers), MVI is the minimum amount of information/data/research/analysis needed to make a viable business decision.
https://twitter.com/ideafaktory/status/1484684696575434753
All business decisions live on a spectrum.
At the luxury end, giant corporations can hire consultants to boil the ocean for months—for dubious certainty—before deciding or investing.
At the low end, small businesses must sink or swim w/daily, minimally researched gut decisions.
At the luxury end, giant corporations can hire consultants to boil the ocean for months—for dubious certainty—before deciding or investing.
At the low end, small businesses must sink or swim w/daily, minimally researched gut decisions.
Each decision is circumstantial.
A giant duopoly, for example, may not feel threatened or has unique assets that buy it time. Others miscalculate how long they have to screw around.
MVI should gauge what level of certainty is possible, at what risk, before having to decide.
A giant duopoly, for example, may not feel threatened or has unique assets that buy it time. Others miscalculate how long they have to screw around.
MVI should gauge what level of certainty is possible, at what risk, before having to decide.
At first, I considered a broader concept, "Minimum Viable Input" that also accounts for resources like labor & capital needed to build something. But it's too broad. Those things should be accounted for post build decision. It's the decision itself I find most interesting.
As I develop this idea further, I'll update this thread. Your input is welcome.
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