Minimum Viable Product (MVP)
Define
The most basic version of a product that early adopters will use or buy
The term Minimum Viable Product (MVP) was popularised for web applications by Eric Ries, the author of The Lean Startup. In the MVP approach, the product is brought to market as soon as possible, then features are added or improved based on the feedback of real users instead of assumptions.
An MVP can be launched sooner than a 'complete' product as non- essential features are postponed, reducing development time. This allows developers to discover if there is a real demand for the product, without spending a significant amount of time and money.
It includes only the minimum set Of features that will satisfy the goal of the product, and the needs of early adopters. Choosing which features to include is a judgement call. but successful MVPs share some traits:
- Valuable — users understand how the product will benefit them, and they want to use it.
- Usable - the product can be used to fulfil its purpose.
- Feasible - the product can be created and delivered when it's needed, with only the resources available to the developer
- Encourages feedback - users are encouraged to provide feedback that can guide future development.
Many of the world's most popular web applications and websites were developed in this iterative way. For example, Twitter was launched with basic functionality, with advanced features like after observing user behaviour and identifying the need for it.
Resources
- 📃 Minimum Viable Product (MVP) - Technopedia
- 📘 The Lean Startup; How Constant Innovation Creates Radically Successful Businesses - Eric Ries
- 📃 The Ultimate Guide to Minimum Viable Products - Scale My Business
- 📃 What is the minimum viable product - Venture Hacks