Question

What is the concept of a Minimum Viable Product (MVP)?

A Minimum Viable Product (MVP) is a development technique where a new product or website is developed with sufficient features to satisfy early adopters. The final, complete set of features is only designed and developed after considering feedback from the product's initial users. This concept helps in building products that customers actually want, reducing the time and resources spent on features that may not be necessary. It's a way to test an idea with users before investing a lot of time and money into development.

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An MVP is the skeleton of a product. For a product that might have 20 different features, this slide lets you triage which features go into the MVP. Each column from left to right dictates a user's flow. In the template example, the flow goes: customize, manage order, pay and receive order. For each part of the user journey, there are different features. List the features in order of highest priority to lowest priority. A dark blue color means this feature is needed in the walking skeleton, which is like a wireframe. The lighter color features are needed for the full MVP and can be incorporated later. The gray features are unnecessary at this stage. This prioritization helps maximize success with reduced human and financial resources spent on any feature that isn't required to validate the product as worthy of pursuit. (Slide 6)

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Preview of Minimum Viable Product (MVP)
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25 Slides
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Preview (25 slides)

Title Slide preview
MVP Canvas Slide preview
MVP Launch Canvas Slide preview
Problem Statement Canvas Slide preview
MVP Scope Slide preview
Feature Prioritization with WSJF Slide preview
RICE Feature Prioritization Slide preview
Jobs-To-Be-Done (JTBD) Slide preview
Usability Test Report Slide preview
Concept Testing Report Slide preview
A/B Test Result Slide preview
Validation Metrics Slide preview
CAC vs LTV Slide preview
Streams & Dashboard Slide preview
Sprint Schedule Slide preview
MVP Tree Slide preview
Customer Churn Analysis Slide preview
Product Adoption Curve Slide preview
Development Cost Slide preview
Product-Market Fit Slide preview
Minimum Viable Product Slide preview
MVP Validation Slide preview
MVP Cycle Slide preview
Minimum Viable Product Matrix Slide preview
Key Questions Slide preview

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