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November 11, 2016

[Video] What’s an MVP? – Bobby’s Minute, ep. 51

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The MVP is one of the best ways to validate the existence of your market.

Here’s a link to the startup “Bible”, The Lean Startup.

Also, here’s a detailed definition of the MVP.

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Transcript:

What’s an MVP? The minimum viable product is a version of the product with the least amount of features that you can possibly have, so that the product can be used.

Usually, you have an MVP and you use the MVP to assess if there is a market that you can address. So, what you do: you build the MVP, you find some people in your target market, you give them the product and see if they want to use it; if it’s a website, you build a simple, really simple website and send them there.

Basically, the MVP is not the product that you’ll build as a company. You’ll improve a lot on that, you’ll maybe modify the initial version of the product, but what the MVP does is it confirms your market and your need. That’s it. It’s pretty simple.

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