What is a minimum viable product?
A Minimum Viable Product (MVP) is a product in the design phase that has just enough features for target audiences to use and provide feedback on. MVPs are used to attract early adopters or enthusiasts and validate product ideas. MVPs are given to customers to use with the specific intent of collecting feedback that helps your team pivot or iterates before too many resources are invested in developing the product.
Why is an MVP important?
Sometimes it's just too difficult to tell if an idea will work despite doing concept testing. Maybe it's a disruptor or it's difficult to disseminate into a testable idea. Many companies invest minimal resources to get something working quickly and collect feedback to see what kind of impact it can have. These companies can stay lean and flexible while really getting a feel for their markets.
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