What is MVP?

A Minimum Viable Product (MVP) is the simplest version of a new product that includes just enough features to satisfy early users and gather feedback. It’s built quickly and cheaply so a company can test whether the idea works before investing more time and money.

Let's break it down

  • Minimum: the smallest set of features possible, nothing extra.
  • Viable: still useful enough that real people will want to use it.
  • Product: a tangible thing (software, app, device, service) that can be offered to customers.
  • Early users: the first people who try the product and tell you what they like or don’t like.
  • Feedback: information you collect from those users to improve the product later.

Why does it matter?

An MVP lets you learn fast and avoid spending a lot on ideas that might fail. It reduces risk, helps you focus on what customers truly need, and can get you to market quicker than building a full-featured product from the start.

Where is it used?

  • Startup apps: a new social-media or fitness app launches with only core posting or tracking features.
  • Hardware gadgets: a smart-home device is released with basic connectivity before adding advanced AI controls.
  • Online services: a subscription platform offers a simple version of its content library to test demand.
  • Internal tools: a company creates a basic dashboard for employees to see key metrics before adding complex analytics.

Good things about it

  • Saves money and time by focusing on essential features.
  • Provides real-world data from actual users, not just assumptions.
  • Encourages rapid iteration and continuous improvement.
  • Helps attract early adopters and can generate buzz.
  • Reduces the chance of building a product nobody wants.

Not-so-good things

  • The stripped-down version may look unfinished, risking a poor first impression.
  • Important features might be omitted, leading to misleading feedback about the product’s true potential.
  • Competitors could copy the core idea before you fully develop it.
  • Teams may become too comfortable with “minimum” and delay adding needed functionality.