What is an MVP?
An MVP, or Minimum Viable Product, is the most basic version of a product that includes only the essential features needed to address a core problem or validate an idea.
It is developed to test the market, gather feedback, and iterate quickly without investing in a full-scale product right from the start.
Reduce Risk With MVP
Minimize Financial Risk
Instead of spending large sums of money on building a full product, an MVP allows for testing the waters with a minimal investment. If the idea doesn't resonate with users, founders avoid major losses.
Avoid Wasting Time
Building a full-fledged product only to find out it's not viable is costly. An MVP fast-tracks validation so that a founder spends time wisely.
Prevent Feature Creep
Without an MVP, many founders build unnecessary features. An MVP keeps the product lean by focusing on solving one core problem.
Validate Product-Market Fit
Real-World Testing
Founders can test how the product functions in the real world, gaining valuable user feedback and iterating based on real use-cases.
Refine the Core Idea
Testing assumptions early means founders can refine their product concept based on real user needs before fully investing in development.
Early Traction
An MVP can help secure early adopters and generate initial interest, which builds momentum and credibility in the market.
The MVP Process
Define the problem
Audience, Needs, Solution, Benefits, etc
Study the competition
Market Size, Potential Customers, Value Proposition
Select core features
Techniques like SWOT, user stories, use scenarios, etc
Prototype the Features
UX tools like Figma, Canva, Miro, Marvelapp, etc
Create an MVP
Low code tools like Bubble.io, Flutterflow, etc
Collect feedback
In-app surveys, analytics tools
MVP Simplified
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