Seven Reasons To Build MVP For Your Business

The Minimum Viable Product (MVP) is an approach that aims to avoid building products that customers don’t need or want by maximizing your learning about what is valuable for them. In this article, Sergej Hermoni shares seven reasons why you should include building an MVP in your Agile approach. Author: Sergej Hermoni, Impltech What is MVP? The minimum viable product (MVP) is a concise product that can be created based on a value proposition. This is the earliest version of a product which requires a minimum of possible characteristics, specifications, or functionalities, which gives us a chance to demonstrate the value of the idea the way it covers the needs of a targeted audience. The MVP gives an idea of how the final product will look like. There are two approaches that can be used when developing a MVP: validating MVP and invalidating MVP. The validating MVP uses a product that has a worse quality than the final product to test the market, while the invalidating MVP is an improved product, which exceeds the final product. The invalidating MVP is almost always the best approach to use. Seven Reasons To Build MVP For Your Business To save time and moneyPlanning is a major factor in the success of any business and it helps to save time and money. No one wants that business fails. The MVP stands as a checkmate as even a failure at this stage does not mean the whole idea will crash. It only gives you a tip, [...]