Minimum Viable Product (MVP) Framework

By: A Staff Writer

Updated on: Jul 19, 2024

What: Releases a product with just enough features to get feedback from early adopters. It’s NOT a sloppy prototype, but a usable baseline.

Who: Popularized by Eric Ries and the Lean Startup movement.

Why: Reduces risk of entrepreneurs spending tons of time and money building the wrong thing.

When: For any new product/service with uncertainties, and when seeking customer feedback during development.

How:

1. 1. Define your riskiest assumptions first.
   2. Build the simplest thing to test those assumptions.