Title: Product development: MVP - Minimum viable product approach | Entrepreneur’s Toolkit
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Content: Product development: MVP - Minimum viable product approach | Entrepreneur’s Toolkit
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Product development: Minimum viable product (MVP) approach
As an entrepreneur, you would probably like to launch your product with all features fully functioning, having responded to all problems discovered during the market interview process. However, the unfortunate reality is that no matter how much you validate and research your product, it will never be perfect. A more effective approach to product launch, and the best method of product validation, is to get the item into the hands of your customers and have them start to use it. Then make frequent, incremental improvements based on the feedback you solicit and receive. ( Note that each ensuing product version is called an iteration).