Posts Tagged 'startup'

What really is an MVP?

 Posted by on Nov 24, 2014  2 Responses »
Nov 242014
 
What really is an MVP?

In his highly influential book, The Lean Startup, Eric Ries introduced term “minimal viable product” (MVP). As Ries rightly points out, firms putting out new products typically spend too much time and money on features that miss the mark somehow in meeting customer needs or are simply unnecessary. The result is a delayed over-expensive product that is more likely than not an economic failure. Reese proposes a better alternative: put out the least function (minimal) product that you can that might meet customer needs or at least will draw customer attention (viable). This way the team can test the market with different feature sets, get customer feedback, and commit development resources to the expensive activity Read more