On this episode of 10 Minute Strategy, KnockMedia founder Nate Berger and KnockMedia SVP Peter Propp discuss the details and strategies behind a successful MVP strategy. Our goal is to make sure you understand how to leverage MVP — Minimum Viable Product strategy — for fast market test and launch.
- Minimum Viable Product – the simplest version of your product. We’re talking mostly user experience today so software MVPs, but you can create MVPs in much more than just software.
- Scientific Method – validating business hypotheses
- If you are building a website or an application, the MVP is the absolute simplest version you can release while still offering value.
- The goal is to gather user feedback as quickly as possible – agile
- Early feedback fuels product development
The gist of MVP is to create a product with minimum effort – one that will allow you to collect the maximum amount of intel about your audience – what they want and what they don’t want – so that you can plan the next iteration of your experience.