A minimum viable product (MVP) is a preliminary version of a product with a limited set of key features that can be used by early customers to provide feedback for future product development. Building an MVP is crucial for helping people see the value of your idea and testing how it works in a real-world setting. By testing your MVP, you can gather valuable user feedback and introduce tweaks and features to make your innovation even more useful to your target audience.
Develop the simplest version of your solution that works, with room to demonstrate potential for expanded features and scale. Invite users to test it in real-world settings and use their feedback to iterate on and improve it. Depending on your business model, consider how you might actually sell your MVP to users and iterate on it over time.
- When building the MVP, identify and prioritize the most essential features that solve your target users' primary pain points, sticking to what’s truly necessary to test your core value proposition.
- Adopt an Agile approach to iterating on your MVP, which ensures that you are making frequent updates and improvements based on feedback.
- Define and track specific, relevant metrics that indicate your MVP's areas of success or improvement, making sure to consider the scale of data you will need to demonstrate effectiveness.
- Consider the level of technological readiness your MVP is at using the Technology Readiness Levels (TRL) scale.
- Focus on impact metrics that show measurable change in your desired outcomes (e.g., reduced wait times or increased access to services), not just user uptake or satisfaction.
- Be prepared to pivot if early results suggest that a different approach could create greater impact.
- Document any lessons learned to build your evidence base and improve future iterations of your product.