Building
a Minimum Viable Product (MVP) is a strategy for avoiding the
development of products that customers do not want. The idea is to
rapidly build a minimum set of features that is enough to deploy the
product and test key assumptions about customers’ interactions with the
product. A
Minimum Viable Product (MVP) is a product that has the minimum set of
features to prove the most essential hypothesis in your business. If
you're starting with an idea and you are yet to build anything, your first goal is to
prove that people want what you’re planning to build. A Minimum Viable
Product would be what you could build at a minimum to prove that.
It sounds obvious. But the reality is many products are made that no one cares about. A product may have many great features but building features doesn't help a product in search of a problem. Building a Minimum Viable Product can save you time and money, but it’s not an excuse to build a bad product. Making a Minimum Viable Product means thinking about all the elements your product could have - each feature, each potential page - and only doing the things most essential to prove people want it. It differs from the conventional strategy of investing time and money to implement whole product before verifying whether customers want the product or not. MVP tests the actual usage scenario in contrast to conventional market research that relies on surveys or focus groups, which often provide misleading results.
The
Minimum Viable Product approach doesn’t end after your first Minimum
Viable Product is launched. It continues through the entire life of your
product. Even when you have customers or you’re a well-established
company, you still need to choose what to build first and what should
wait. For instance, this blog (The Northern Blog) is a minimum viable product of a media outlet(online and offline) that focuses on issues (most importantly tech) that reflects the growth and development of the north. We are still iterating and still working on making our product better.
Now that you understand what an MVP is, i would like to sumarise the whole thing this way;
1. First working implementation of Idea:
If you have an idea, you might decide to make some notes, designs or wireframes. However, you will want to get some real world feedback to test your hypothetical solution, that is where a MVP comes in. It is meant to be the first thing built, even if not intentionally. As soon as you start building your product, and have the first working version, this could be classed as the MVP, it is meant to be iterative.
2. Iterative methodology:
After getting customer feedback, either through direct communication or by measuring usage metrics, you might continue improving your MVP, adding new features, or totally rebuild your product. Once you have found what ticks to make your product market fit you keep going, and the MVP eventually morphs into your beta or final product.
If you have an idea, you might decide to make some notes, designs or wireframes. However, you will want to get some real world feedback to test your hypothetical solution, that is where a MVP comes in. It is meant to be the first thing built, even if not intentionally. As soon as you start building your product, and have the first working version, this could be classed as the MVP, it is meant to be iterative.
2. Iterative methodology:
After getting customer feedback, either through direct communication or by measuring usage metrics, you might continue improving your MVP, adding new features, or totally rebuild your product. Once you have found what ticks to make your product market fit you keep going, and the MVP eventually morphs into your beta or final product.
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