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Minimum Viable Product

Wednesday, March 3rd, 2010
Posted in Marketing by Joel Gross

Building a successful business involves iterating through lots of ideas for products and services.  Minimum Viable Product is a term that refers to only doing the smallest amount necessary to get something into the marketplace that will tell you if people like the idea or not.  Usually this is far smaller than you expect it to be.  Cut down all the features you can and only offer the core and see what people think.  If they love it but want more features, great, build those features and make your fortune.  If they hate it because they want more features to address their problem, you can add a feature at a time and test their responses.  If they don’t care…. then you may want to reconsider your business model.