Minimum viable product

Minimum viable product
Primary topic
Related topics
Methods and techniques

Minimum viable product is the cheapest and the fastest product that we can build to get feedback about its value[1]. A product that satisfies the basic needs of early customers, and can provide feedback on future product development. is the quickest thing you can do to learn about your most risky hypotheses[2].

The beginning[edit]

The first attempts to define are attributed to Frank Robinson[3], already in 2000, William S. Junk in his work touches the essence of MVP describing the basic principle of project equilibrium[4]. However, it is Eric Ries who most often touches on this topic, to define MVP as such a version of the product that enables the execution of a complete Build-Measure-Learn loop[5].

The Goal of MVP[edit]

MVP is needed to get the early data that confirms user interest in a product[6]:

  • Saving time and resources
  • Project verification: is it attractive to potential users
  • Building a database of first users
  • Information about the optimal way for full product development
  • Minimizing waste, so important for the Lean Starup methodology

The Build-Measure-Learn Feedback Loop[edit]

Speed is an important element of product development. Efficiency is determined by the ability to build ideas and ideas (MVP), then measuring the effects of the market, and then drawing conclusions or learning[7]. This is a cycle consisting of transforming ideas into products, collecting measurements about its effectiveness and, in turn, drawing conclusions that aim to improve. This loop is repeated until the effect, and all its phases are[8]: Ideas → Build → Product → Measurement → Data → Learn.

Fig. 1 The Build–Measure–Learn loop

Footnotes[edit]

  1. Nandakumar M., 2018, p.95
  2. Garbugli G., 2014, p.146
  3. Robinson F., 2001
  4. Junk S. W., 2000, p.2
  5. Ries E., 2011, p.146
  6. Ries E., 2011, ch.6
  7. Olsen D., 2015, p.167
  8. Ries E., 2011, ch. 8

References[edit]

Author: Agnieszka Katarzyna Sikora

.