MVP — short explanation

You might have come across this abbreviation — "MVP", but have never thought deeply about what it was. Today we're going to explain you the meaning of these three letters.

MVP stands for "Minimum Viable Product", which means that MVP is a very simplified version of your main product.

But what MVP is for? Most often products (especially digital ones) are quite complex and it takes a long time and a lot of other resources to bring them to perfection. But what if you're not sure whether your product will be demanded and you'd like to test it before the full launch? That's when MVP comes in. You offer your audience a version of your product with the minimum of its functions and watch if there is any activity. If there is – you complete the product and upgrade it to the full version, if there's not – you rejoice that you didn't spend more time and money in vain.

What should MVP include? When creating an MVP, the most important part is to determine, what characteristics of the product are really valuable for the customers. What functions are the most important? What is your product about? Create a short list of the main points and include them into MVP.

Next step is testing. Once you've developed MVP, you need to see how it works. Look at how popular it is, track the stats, see how people use it, ask them what they like and what they don't. Then improve your product and prepare for the big launch!

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