March 9, 2019

At what point do you say an MVP has 'failed'?

Hey all, long-time lurker, first-time poster currently working on a couple of side projects.

Something I have been thinking about lately- at what point do you decide that a product has no market/is not commercially viable?

Hypothetical scenario:
You spend 4 weeks coding an MVP (landing page, basic app, whatever) which addresses the problem you think people will pay to solve. You do a soft-launch to test the waters and nothing converts.

1.) Where do you go from here? How do you know if a product actually has a market and that it is just a landing page which needs optimising, or the software needs a simple UI update, or pricing changed, and so on ?

2.) How much non-converting targeted traffic would you say is a definite no? 100, 1000, 10000 ?

3.) How do you go about getting feedback and knowing whether or not to pivot? If the pivot fails then what? At what point do you call it quits, learn, and move on?

Appreciate your thoughts and insights!