May 27, 2022 by Michael Diez
You’ve probably heard of MVP, which stands for Minimum Viable Product. It is a product with enough features for early-adopter customers to use and provide feedback so you can improve the product before mass producing it.
Well, there is also a MVA, which stands for Minimum Viable Audience.
And like that, there are many Minimum Viable X (brand, segments, market, etc).
The idea is to start with a minimal version of whatever it is you are trying to create and test it with actual customers as soon as possible.
But starting a minimal business is a balancing act.
Too little development may allow competitors to imitate your product and may also establish a reputation for your business as a developer of unfinished products.
Too much development and you risk burning out before you ever make your product viable, let alone minimal.
SLC stands for Simple, Lovable, and Complete.
SLC is about delivering the most value to customers with a simple set of completed features they love.
Take for example Google Docs (the document editor program from Google). It provides just a few of the features Microsoft Word provides. It’s a simple document editor. But the feature Google Docs has that customers love is the ability for multiple people to collaborate simultaneously on the document online (work from home anyone?).
That acronym I just made up.
It stands for Simple, Lovable, Complete Business. Could be pronounced “slick business.”
The idea is to provide small business entrepreneurs with a memorable approach to building and growing their business that focuses on delivering value.
I think SLC is appealing to enterprises because enterprises focus on scalability. However, small businesses could also benefit from SLC because small businesses focus on simplicity.
The 5 pillars of marketing are People, Price, Promotion, Product, and Place.
The SLC version I’m proposing would be 3 Pillars: Audience, Product, and Offer.
Call it “slick marketing.”
A small number of potential ideal customers (customers you’d love to work with).
Develop a product or service that delivers the most value to customers with a simple set of completed features they love.
Start with the highest value offer you can think of that can generate $10K to $50K in sales per month from all your customers.
A kitchen cabinet reseller would need two customers per month to reach $50K/month.
|SLC Audience||People in Miami, FL looking for affordable luxury kitchen cabinets online.|
|SLC Product||Italian modular kitchen cabinets MSRP $15K.|
|SLC Offer||$25K for kitchen cabinets fully installed within 4 weeks.|
A chiropractor would need 50 patients per month to reach $25K/month.
|SLC Audience||People in Miami Beach, FL experiencing chronic pain after an accident, injury or due to aging.|
|SLC Product||Therapeutic osteopathy services|
|SLC Offer||Full Body Evaluation, X-Rays, and 5 adjustments for $500 paid by insurance or worker’s comp, or payment plan.|