Target audience of this guide:
Who is this guide for?
This guide is curated for startups who are on the expedition of creating a product that their
customers can actually procure.
We wrote this guide primarily for someone who may not be a tech savvy, and yet would want to develop a product that could benefit any consumer.
This guide will give an idea on how one can develop a product that can be used and enjoyed by their audience.
It is also intended to give an insight about how a startup can develop a version of a product that they can release it in the market and move forward based on the critique they receive from the audiences.
We have had some exciting experiences on how to create an MVP and we are happy to share some of the insights that we have learned along the way.
A brief about MVP
What does MVP mean?
Minimum Viable Product, is the version of a product that accommodates only the basic set of features with
necessary elements, adequate to engage the end user and validate a product, early in the product
Eric Ries, who introduced the concept of the minimum viable product as part of his Lean Startup
methodology, describes the purpose of an MVP this way:
“It is the version of a new product that allows a team to collect the maximum amount of validated learning about customers with the least amount of effort.”
When Less is More
A minimum viable product is a part of your product which allows you to learn how your target audience react to the functionality of the product. It helps a user to validate and adopt a product idea, early in the product development life cycle. MVP helps the product team receive user feedback as quickly as possible in order to iterate and eventually help develop a product that appeals to the user at an early stage, rather than developing a full-fledged product directly without analysis and getting a negative feedback from the user.
A build-measure-learn methodology is followed in developing an MVP, where you build a product for a customer, you measure and validate the results of the build and then learn to respond to customer needs and improve the product.
MVP is basically a product that includes the core features without any advanced tools. – Frank Robinson, SyncDev