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What is an MVP?

2014-05-20 05:50

MVP means Minimum Viable Product and it’s a core component of Lean Startup methodology

MVP means Minimum Viable Product and it's a core component of Lean Startup methodology [1]. An MVP is not a minimal product [2]. The technique involves the development of a product or website with the sufficient features to satisfy early adopters.This subset of possible customers are thought to be more forgiving, more likely to give feedback, and able to grasp a product vision from an early prototype or marketing information [3].

The final, complete set of features is only designed and developed after considering feedback from the product's initial users [4].

An MVP has three key characteristics:

  • It has enough value that people are willing to use it or buy it initially
  • It demonstrates enough future benefit to retain early adopters
  • It provides a feedback loop to guide future development

Purposes

  • Be able to test a product hypothesis with minimal resources
  • Accelerate learning
  • Reduce wasted engineering hours
  • Get the product to early customers as soon as possible

[1] The lean startup methodology. http://theleanstartup.com/principles

[2] Radoff, Jon, "Minimum Viable Product Rant," May 4, 2010, http://radoff.com/blog/2010/05/04/minimum-viable-product-rant/

[3] Wikipedia, Minimum viable product. 2014. http://en.wikipedia.org/wiki/Minimum_viable_product

[4] Cory Janssen. (2010-2014). Techopedia. Minimum Viable Product (MVP). http://www.techopedia.com/definition/27809/minimum-viable-product-mvp

Acknowledgments

This post was written for Vairix Software Development, so I want say thanks to them for let me share this with you in my homepage.


Significant Revisions

May 20, 2014: Original Publication on vairix.com

Dec 9, 2014: Original Publication on dariomac.com