What’s an MVP in a Startup?

May 14, 2020 | Posted by Bobby in Bobby Voicu's Blog

What’s an MVP? In a Startup?

The MVP is one of the best ways to validate the existence of your market.

Here’s a link to the startup “Bible” and the book that truly pushed the concept to the startup world: The Lean Startup. You need to read this if you want to have more than a grasp of the concept.

Also, here’s a detailed definition of the MVP.

Until then, though, here’s a longer definition of the term:

If you want to watch something, rather than read, watch me talking about the MVP at the end of this post, in a short, 2 inutes video. For more similar videos, subscribe to the YouTube channel.

What’s a Minimum Viable Product (or MVP)?

Definition

The minimum viable product is a version of the product with the least amount of features that you can possibly have, so that the product can be used.

Why Use an MVP?

You use the MVP to assess if there is a market that you can address.

This is what you do: you build the MVP, you find some people in your target market, you give them the product and see if they want to use it; if it’s a website, you build a simple, really simple website and send them there.

Is the MVP your final company product?

Not in the least. The MVP is not the product that you’ll build as a company. You’ll improve a lot on that, you’ll maybe modify the initial version of the product, but what the MVP does is it confirms your market and their needs.

That’s it. It’s pretty simple.

For more similar videos, subscribe to the YouTube channel.

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