The concept of doing less work might sound risky for your business. With passing times, it has become a very competitive market and it is very hard to stay in the market in this competitive time. However, we put forward to you a new concept, which is giving good result to several companies all over.

Many people these days prefer staring their businesses with minimum products to sell. This thing will help them to find a better way to develop their business and to improve their products and services with time. Nowadays, better technologies have made it easier for businesses to release a good quality product quickly and improve the same with the same speed.

Following are some tips on how to use this approach in your business.

Do not tell your customer everything about your product. Offer limited and practical solutions to their problems, instead of telling every possible solution. It is better to focus on only main two or three sources of income, rather than all.

So all you have to do is to make a basic product or service and release them in the market. The minimum viable product is said to be the version of a new product, which allows you to get maximum number of feedback of customers with the least effort. For example, Release of beta version of operation system before launching the original.

Once your product is in the market, you can start getting feedback from your customers. You can ask them to give online feedback as well. You can use community sites or even you can go with telephone surveys. Thus, you can get to know what your customers like and dislike in your product and services. Feedback plays a very important role in your product or service s improvement.Once you get your useful feedback, you can make your product or service more valuable.

You can change some features of your product according to the customer s requirements. However, there is not any sure shot way to know that you are doing is right or wrong. It is you, who has to take a final stand on this matter. The MVP (minimum viable product) approach may not be helpful to you exactly in the same, but it may save your time and money before you invest both in different marketing methods and help you make a wise decision smartly.

For the last 36 years Retailers Forum magazine has been the go-to resource for wholesale merchandise. We like to think that we have taken the work smarter approach in our business and encourage our readers to do likewise.