Building Your Minimum ‘Minimum Viable Product’ (MVP)

Building Your Minimum ‘Minimum Viable Product’ (MVP)

The concept of the Minimum Viable Product (MVP) has grown in popularity, mostly due to Eric Ries’ Lean Startup methodologies. Ries writes:

“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.”

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How much or how little is “minimum”?

There is some contention on how much or how little constitutes “minimum”. Too much and you risk investing too much time and effort in building an obsolete product. Too little and you cannot conclusively gather meaningful results.

The right place is probably half-way in the middle. Your minimum product should allow the maximum amount of learning, with the least amount of effort. Balance the costs and benefits.

Building your “mini” MVP

The common flaw of the average entrepreneur is having too many ideas and not being able to execute all or any of these concepts. We were thinking that entrepreneurs should utilise the most painless and quick mechanisms for testing ideas.

Two well known stories come to mind:

1) GroupOn – While the founders spent time with various customer development experiments, it was two cheap and dirty methods that tested their ideas. The first was a simple blog (ThePoint) that attracted like minded people to create promotional campaigns. The second was offering pizza coupons posted on an apartment building communal bulletin board.

2) Drop Box – A short video showing the problem, product and solution gained mass interest. The interest justified investing the time and effort to build the product.

Two quick and extremely simple techniques to get an idea to the market.

Closing

Lean startup and the minimum viable product concepts encourage entrepreneurs to not waste time building products customers do not want. Existing startups have shown that a minimum viable product can be as simple as a landing page. Therefore anyone should be able to quickly and easily build a mini MVP to validate their ideas (no matter how basic). What are you waiting for?

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You might also enjoy:
+ Our Table of Contents
+ Building a Minimum Viable Product (MVP) in One Day
+ The Apprentice – Lean Startup Builds Minimum Viable Product in Two Days?
+ How To Get Traction? Or Why Is My Startup Broken?
+ Startup Weekend: How to prepare? (Day 0)

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