The MVP, or Minimum Viable Product, is a strategy used in the development of products and services that involves creating an initial version with only the essential functionalities. This allows the product to be launched in the market and validated with users, understanding whether it truly solves the consumer’s problem.
In other words, you can test your idea at a reduced cost and within a short period of time, allowing for user feedback and the identification of adjustments, risks, problems, improvements, and innovations in the product.
This approach avoids unnecessary investments, both in resources and in the development time of features that are not important to the user or do not generate a return.
How to Apply the MVP Concept?
- Focus on the main value proposition and hypothesis creation.
- Understand who the MVP is for. What is the target audience?
- Conduct benchmarking to find shortcuts.
- Understand the functionalities that need to be built.
- Clearly define what constitutes a good or bad outcome for your MVP and how you will measure it.
- Apply your MVP in a realistic context. You will need real assessments that represent the market.
- What is the cost and the expected delivery date of this MVP?
- While the concept of MVP originated in the context of startups and technology, the line of thinking is applicable to almost all projects. It provides greater security for organizations in creating effective solutions to meet user needs.
By Larissa Faria | L3 Product Owner Best2bee
