MVP stands for "Minimum Viable Product" and was first introduced by Frank Robinson in the early 2000s.
A product of this caliber can be a website or a mobile app with just enough functionality to satisfy early customers and gather feedback for future iterations.
The old approach of building products, assumes that you know everything and can take the risk of investing without iteration in the real world.
But, the initial version has to get the job done. The high-end vehicle is still a hypothesis. Remember to focus on a single audience and build a product that delivers real value and solved a problem for your customers.
As you probably learned until now, ideas are worthless. Solutions are somewhat more valuable, but the right solution to a clearly articulated problem is priceless. Making sure you articulate the problem of a customer segment is critical to the success or failure of your product. This process is called customer discovery. In this process you need to deeply understand your market and that means getting our of the building. There are no facts inside the building, just opinions.
Customer development is the first step that will help you clarify the vision and make sure you build the right thing, the right way.
Problems we can help with:
This is a common problem with a lot of early stage products: perfectionism. An MVP should only provide an answer to:
Problems we can help with:
In a lot of companies we keep seeing that product teams don't actually work customer-data driven, but are executing features coming from stakeholders without any context. This ends up in frustration at the team level most of the time, because everything looks like assumptions or orders coming from above. We cannot tell for sure which stakeholders are wrong or not, but we know that transparency and alignment brings energy and a sense of purpose.
Problems we can help with:
If you and your team experience one or more of the following pains: