The concept of a Minimum Viable Product (MVP) is central to the development process, serving as the initial version of a product or service delivered to customers. Unlike traditional product development, which often involves lengthy processes culminating in alpha and beta testing, the MVP approach focuses on delivering a functional product that meets essential customer needs from the outset. This approach avoids releasing unfinished products and instead emphasizes understanding customer requirements before finalizing the product. The MVP is not about presenting an incomplete version but about offering a product that customers can use and provide feedback on, ensuring it aligns with their expectations and needs. The primary purpose of an MVP is to test the product's ability to meet minimal customer needs, which may evolve as the understanding of the customer archetype deepens. It's not about maximizing early revenue but about learning and refining the product based on customer interactions. While identifying bugs is part of the process, the MVP's goal is not to serve as an engineering test but to validate the product's core functionality and its appeal to customers. By focusing on customer feedback, businesses can iteratively improve their offerings, ensuring they are well-positioned to achieve product-market fit. Building an MVP requires a balance of interaction and iteration, focusing on understanding customer needs, pains, and gains. It's not merely about trimming features due to time constraints but about engaging with customers to determine what truly matters to them. Even in new markets where customers may not yet recognize their needs, it's crucial to explore how they currently address their challenges. This understanding informs the MVP's development, ensuring it resonates with customers and addresses their real-world problems. By prioritizing customer insights over assumptions, businesses can create products that genuinely meet market demands. ## Activities - Watch the video [MVP](https://youtu.be/vFCCRgYDPFI) ([[Udacity - How to Build a Startup]], Lesson 5.19) - Watch the video [The Art of the MVP](https://youtu.be/NHCykz74fFg) ([[Udacity - How to Build a Startup]], Lesson 5.21) Next: [[Common Mistakes with Value Proposition]] Back to: [[What Will Be Your Unique Value?]]