What is the MVP (Minimum Viable Page)?
Are you about to start your own startup? Then you should know what is the minimum viable page or MVP!
So, you have a cool idea and a great team. You believe you have found (better) solution to a problem, which should make life easier for potential users. You were brainstorming, you did as much research as you can and now it’s time to test your concept and thus to convince yourself and others, including investors, that the potential of your startup is significant.
But when the product is in an early stage of development, is it ready for something like this? Is it necessary to present something rich with features or you should provide only a proof of concept and basic functionality?
The answer to these questions of course depends on the specifics of your project, however, the theory of the development of startups has shown that there are clear principles, almost legality, whose appreciation is very worthwhile.
One of these concepts is referring to a strategy of rapid and quantitative market testing of potential product or feature’s known as the Minimum Viable Produc or Page (MVP).
This concept is important because by its adoption, you will not be in a position to spend months (or years) in the basement, garage, home or where you already are developing your “perfect” product with the team not knowing if what you do makes sense and whether it is worth. MVP, on the other hand, allows you to test your concept and correct the deficiencies which, as a rule, you will almost always have.
MVP is a concept related to the development of web applications defined Eric Ries, famous startup entrepreneur from Silicon Valley known for Lean Startup approach to business development, which includes the allocation of company resources in the most efficient manner possible. Bearing in mind the opportunities that the Internet and technology provide the rational approach in developing business is essential for almost every startup.
Maximum sustainable product contains only those features that are sufficient for its launch in order to monitor how it resonated with the early adopters.
The goal is to come up with as little expense and effort creating a product that offers an early response to the solution of a problem in order to get an early feedback, and in some situations might make money – if early adopters willing to pay for your product.
In any case, this way saves money and time and testing ground for your product. It is interesting that MVP could be an ad on Google, PowerPoint presentation or simple landing page named also minimum viable page. According to Eric Ries it’s something that often you can make in a day or a week. Below you can check infographic which shows how to get more conversions with an MVP: