What is a Minimum Viable Product and How to Build an MVP for Your Startup

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MVP meaning

If you’re at that point when there is just an idea and nothing has been built yet, your only goal should be to prove the product you want to build solves a problem.

It may seem easy, but when it comes to reality, many products are built that don’t actually solve a problem for anyone. It may look brilliant, have lots of features, but at the same time be absolutely useless. How often have you encountered such situations. What? Never?

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How about wearing the Shoe Umbrella? Would you like to go somewhere with two umbrellas attached to your shoes, even if your shoes are very elegant? How funny is that!

Build a product that solves a problem.

The first version of a product is often called Minimum Viable Product (MVP). You ask, what is MVP? Well, it is the product that has only the core features that make the product work. The simplest example is on the picture.

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Many talented people made an impact to an MVP concept. But the most famous was the author of the Lean Startup methodology Eric Ries. He defined the MVP meaning as:

A Minimum Viable Product is that version of a new product which allows a team to collect the maximum amount of validated learning about customers with the least effort.

In general, the purpose of this product is to test the demand. The market reaction defines whether you are inspired to expand your business or just stop.

What does MVP stand for

On the contrary, a minimum viable product is a real product and people are gonna use it and pay for it. MVP needs to have a clear goal and a set of features to promote this main feature.

Benefits of MVP

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1 Brings focus on the core value proposition

2 Reduces remakes

3 Builds relationships with customers

4 Defines critical drawbacks

5 Spends money efficiently

6 Changes the world

7 Saves money

How to Build an MVP for your Startup

In other cases, just do the following.

1 Preparation process

2 Hiring developers

3 Designing the prototype

4 Building MVP

There is a but, as the next stage will define your product’s the whole future. Take a breath and go get you success!

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Conclusion

Don’t let your valuable time pass by without acting on your dream!

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Originally written for S-PRO blog.

Co-founder and CEO of S-PRO, Entrepreneur, Advisor & Expert in Mobility & IT Strategy. Custom solutions for enterprise and startups http://s-pro.io/

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