How can the MVP concept help in aligning stakeholders and communicating product vision?

The success of an MVP launch can be measured in several ways. These include user engagement, customer feedback, number of sign-ups or downloads, and the achievement of the key performance indicators (KPIs) set for the product. It's also important to consider the completion of the critical user flow and whether the product is functional and meeting its intended jobs-to-be-done.

The MVP (Minimum Viable Product) approach aligns with agile product development methodologies in several ways. Firstly, both prioritize delivering value to the customer early and often. In the MVP approach, this is achieved by identifying and implementing the most critical features that allow the product to be functional. In agile methodologies, value is delivered through iterative development and frequent releases. Secondly, both approaches embrace change. In the MVP approach, feedback from the initial users can lead to changes in the product's features or design. In agile, change is welcomed as a way to better meet customer needs. Lastly, both approaches focus on minimizing waste. In the MVP approach, this is done by avoiding over-engineering and only building what is necessary for the product to be functional. In agile, waste is minimized through practices like backlog grooming and sprint planning.

One strategy to prioritize features for an MVP launch is to define the scope of your MVP to avoid scope-creeping. This can be done by clearly defining features based on user stories. The top row should represent the critical user flow, which is the journey that users must take in order to get to their jobs-to-be-done. Without this user flow, there would be no functional product. The higher on the chart it is, the more important the feature is. From this list, draw the MVP line for features critical for the product to be functional. Everything below that should be saved for the future.