The MVP

This experiment is called the Minimum Viable Product (MVP). The MVP is an important concept that is a departure from the traditional big bang approach of building out a polished product and then taking it to the market. It represents the minimal set of features and functionality that would need to be built in a product in order to test market viability and maximize validate learning.

The MVP and its subsequent iterations are initially designed to test two things: whether customers will value your product, and how easily your product will expand.

Of course, the hard part often is deciding how minimal you need to be. The initial tests can be simple landing pages, interactive wireframes, or functional prototypes. The key is to create an MVP that tests the validity of the hypotheses you created in your BMC.

For instance, a landing page that promotes a nonexistent product is an inexpensive way to dip your toe in the water. It can test whether your target audience is interested in the solution...