Minimum Viable Product (MVP)

What is MVP?

An MVP is the simplest version of a product that can test your core business idea with real users.

Key elements of MVP:

• Core functionality only
• Solves main problem
• Quick to market
• Testable with users
• Cost-efficient

👆 By the way, an interesting fact: The term “MVP” was coined by Frank Robinson in 2001 and popularized by Eric Ries in “The Lean Startup” – it revolutionized how startups develop products.

Why Build an MVP?

1. Test Market Fit 🎯

• Validate assumptions
• Get user feedback
• Minimize risk
• Save resources

2. Learn Fast 📚

• Real user behavior
• Market response
• Feature priorities
• Price sensitivity

3. Save Resources 💰

• Lower development costs
• Quicker launch time
• Reduced risk
• Efficient iterations

Famous MVP Examples

Dropbox 📦

• Initial MVP: Simple video demo
• Tested: File sync demand
• Result: 70,000 waitlist signups

Airbnb 🏠

• Initial MVP: Air mattresses in founders’ apartment
• Tested: Shared space concept
• Result: Proved market need

Facebook 👥

• Initial MVP: Harvard-only network
• Tested: Social networking concept
• Result: Rapid college adoption

MVP Best Practices

Do’s ✅

• Focus on core problem
• Get real user feedback
• Launch quickly
• Measure everything
• Iterate based on data

Don’ts ❌

• Over-perfect features
• Add unnecessary complexity
• Ignore user feedback
• Wait too long to launch
• Try to please everyone

Remember: An MVP is about learning, not perfection. It’s better to have a simple product that works than a complex one that’s never ready.