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Minimum Viable Product

When we create a new product, Product managers always grapple with the problem of when to take the product for customer validation.

Taking it too soon would be the prospects are not interested in what is being demonstrated. Taking it too late means that we could be grossly wrong and any feedback that comes could not be that valuable.

Another problem is taking it to all the prospects might lead to unsatisfactory  comments on how the product is still not complete.

How do we manage thing timing issue?

A simple concept of minimum viable product could help us understand when is the right time to start the demonstrations.

Minimum viable product is the core product that satisfies the needs of a chosen subset of the target audience. It has just enough for us to focus on a subset of prospects, validate understanding and move on.

What it is not

MVP is often misunderstood as a the bare minimum of a product that can be developed. This understanding is incorrect.

The emphasis is on viable and not on minimum.

The approach of MVP is to make sure we target smaller groups, validate our product and keep adding to it as we keep moving.

The minimum viable product is that version of a new product which allows a team to collect the maximum amount of validated learning about customers with the least effort.

Hope this helps.

For more reading , check out The Lean Startup: How Constant Innovation Creates Radically Successful Businesses
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