mvp

Minimum viable product (MVP), also known as minimum loveable product, is a version of a new product which allows a team to collect the maximum amount of validated learning about customers with the least effort. The term was coined and defined by Frank Robinson in 2001, and has been popularized by Steve Blank, Eric Ries and others. MVP is not a new concept, but rather a new way of looking at product development, that is focused on learning about customers and their needs.

The most successful MVPs are those that provide the user with enough value to get them to take the desired action, such as signing up, purchasing, or downloading. For example, Airbnb's MVP was a simple website that allowed users to list their apartments for rent. This allowed Airbnb to learn about the needs of its users and to build a community of users who were interested in renting out their apartments.

The benefits of using an MVP

There are many benefits to using an MVP. Some of the most important benefits include:

• Reduced risk: An MVP allows you to test your product with real customers before investing a lot of time and money into development. This can help you to identify and fix any problems with your product before you launch it to a wider audience.
• Faster feedback: Getting feedback from customers early on can help you to make better decisions about the direction of your product. This can help you to avoid wasting time and money on features that customers don't want.
• Increased agility: An MVP allows you to be more agile in your product development process. This can help you to respond quickly to changes in the market or to customer feedback.
• Lower costs: Developing an MVP is often less expensive than developing a complete product. This can help you to save money on development costs.

How to build an MVP

There are many different ways to build an MVP. Some of the most common methods include:

• Wireframing: Wireframing is a simple way to create a visual representation of your product. This can help you to get feedback from users on the layout and functionality of your product.
• Prototyping: Prototyping is a more advanced way to create an MVP. Prototypes are interactive models of your product that allow users to experience the product in a more realistic way.
• Landing pages: Landing pages are simple websites that are designed to capture leads. They can be used to collect email addresses or to pre-sell your product.
• Concierge service: Concierge service is a way to provide a personalized experience to your users. This can be done by providing one-on-one support or by offering a limited number of features.

The best method for building an MVP will depend on your product and your budget. However, it is important to remember that an MVP should be as simple as possible. The goal is to learn as much as possible about your customers with the least amount of effort.

Examples of successful MVPs

There are many examples of successful MVPs. Some of the most notable examples include:

• Dropbox: Dropbox's MVP was a simple video that explained the concept of the product. This video helped Dropbox to get early feedback from users and to build a community of users who were interested in the product.
• Airbnb: Airbnb's MVP was a simple website that allowed users to list their apartments for rent. This allowed Airbnb to learn about the needs of its users and to build a community of users who were interested in renting out their apartments.
• Uber: Uber's MVP was a simple iPhone app that allowed users to book a ride. This allowed Uber to learn about the needs of its users and to build a community of users who were interested in using the service.

These are just a few examples of how MVPs can be used to develop successful products. If you are thinking about launching a new product, consider using an MVP to test your product with real customers before investing a lot of time and money into development.

Conclusion

An MVP is an important tool for any product development team. By using an MVP, you can reduce risk, get faster feedback, increase agility, and lower costs. If you are thinking about launching a new product, consider using an MVP to test your product with real customers before investing a lot of time and money into development.