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In product development there is a term I consider one of the most important things in building a startup – Minimum Viable Product, or MVP.

The idea of MVP is implementing the easiest possible solution for an idea. Let’s say, you want to build a mobile application that helps to learn the lexis of a foreign language: you type the words you want to learn into the mobile app and listen to them when you have the opportunity.

What is the usual approach? Create a specification, include every functionality the user might need, hire a development team and develop the product for like 6 months.

In reality this approach probably won’t work (only if you’re really lucky). Usually it takes more than one iteration to create a product that people really need. Polishing business ideas takes time.

If you apply the traditional approach, it will take you too much time and money to test your hypothesis. The solution is creating an MVP (minimum solution possible to test the idea) and then showing it to customers as quickly as possible.

 

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