▁Key ▁activities ▁ ▁Key ▁resources ▁ ▁Value ▁propos itions ▁ ▁Customer ▁relationships ▁ ▁Ch annels ▁ ▁Customer ▁segments ▁ ▁Cost ▁structure ▁ ▁Re venue ▁streams ▁▁ ▁O ster wal der ▁and ▁Bl ank ▁have ▁integrated ▁both ▁business ▁model ▁design ▁and ▁customer ▁development ▁hypoth eses ▁into ▁the ▁business ▁model ▁canvas . ▁Each ▁of ▁the ▁nine ▁blocks ▁corresponds ▁to ▁one ▁or ▁more ▁Customer ▁Development ▁hypoth eses . ▁When ▁a ▁hypothesis ▁is ▁found ▁to ▁be ▁incorrect , ▁entrepr ene urs ▁can ▁apply ▁Customer ▁Development ▁strateg ies ▁to ▁turn ▁the ▁mistake ▁into ▁a ▁P ivot . ▁As ▁a ▁P ivot , ▁a ▁failed ▁hypothesis ▁becomes ▁a ▁learning ▁strategy , ▁and ▁the ▁business ▁model ▁can ▁be ▁re written . ▁ ▁Min imum ▁vi able ▁product ▁The ▁minimum ▁vi able ▁product ▁( M VP ) ▁is ▁“ that ▁version ▁of ▁a ▁new ▁product ▁which ▁allows ▁a ▁team ▁to ▁collect ▁the ▁maximum ▁amount ▁of ▁valid ated ▁learning ▁about ▁customer ▁with ▁the ▁least ▁effort .” ▁The ▁startup ▁releases ▁the ▁most ▁minimal , ▁core ▁product ▁to ▁start ▁testing ▁early ▁and ▁minim ize ▁the ▁total ▁development ▁process ▁time . ▁▁▁ ▁The ▁M VP ▁allows ▁entrepr ene urs ▁to ▁gather ▁feedback ▁from ▁early ▁ad op ters ▁to ▁prevent ▁pit falls ▁and ▁avoid ▁building ▁unw anted ▁products . ▁The ▁M VP ▁also ▁lets ▁customers ▁point ▁out ▁missing ▁features ▁and ▁necessary ▁changes . ▁▁ ▁To ▁successfully ▁use ▁the ▁M VP ▁strategy , ▁entrepr ene urs ▁must ▁be ▁committed ▁to ▁iteration . ▁Customer ▁feedback ▁will ▁bring ▁the ▁product ▁or ▁service ▁through ▁several ▁changes ▁before ▁it ▁is ▁final