{"id":10779,"date":"2021-04-01T15:38:34","date_gmt":"2021-04-01T15:38:34","guid":{"rendered":"https:\/\/limetech.co\/?p=10779"},"modified":"2021-04-01T15:38:34","modified_gmt":"2021-04-01T15:38:34","slug":"what-is-a-minimum-viable-product","status":"publish","type":"post","link":"https:\/\/tjarb.com\/limetech\/blog\/innovation\/what-is-a-minimum-viable-product\/","title":{"rendered":"What is a minimum viable product?"},"content":{"rendered":"

What is a minimum viable product, and why do you need it?<\/h2>\n

The 411 on MVPs<\/h3>\n

A minimum viable product<\/a> (MVP) is a concept popularized by author Eric Ries in his classic book “Lean Startup: How Today’s Entrepreneurs Use Continuous Innovation to Create Radically Successful Products.”<\/a><\/p>\n

The simple description of an MVP is that it’s a basic, working version of your product. It should capture the essence of your idea, and have only enough features to make it usable<\/strong>. <\/span><\/p>\n

So, why would you only build a simple version of that great idea for an app you’ve had in your head for ages?<\/span><\/p>\n

The unique advantages of building an MVP<\/h3>\n

At the most practical level, building an MVP can save you time, money, and resources while reducing your risk of failure<\/strong> and increasing your chances of success. It’s a great way to find out if the world is ready for your new idea.<\/span><\/p>\n

So, how does this work? Rather than spending your funds on a highly complex project that may or may not be successful, you can build the simplest, usable version possible, and then test your product on real-world users<\/strong>.\u00a0<\/span><\/p>\n

As your real-world users interact with your MVP, you can observe their interactions and collect data about their behaviors. This data helps you determine whether more investment in your project is worthwhile, and what your next steps should be. <\/strong><\/span><\/p>\n

Your next steps could involve adding features to your product, pivoting in a new direction, or ending the project entirely. Either way, data and not guesswork will inform your choices<\/strong>.<\/span><\/p>\n

The main elements of an MVP<\/h3>\n

An MVP should include only a few elements. Remember, you are creating a product that has only enough features to be usable<\/strong>. This is a very lean version of the app you’ve been dreaming about. Here are the main elements:<\/p>\n