How DropBox Started As A Minimal Viable Product #startup #startupindia #startups #ideas #ideation #validation #mvp #minimumviableproduct Think Idea or Hypotheses, Think Risk, Think Validation (in the quickest, least expensive and least risky way) - Don't think scope or features. Very little cost and risk - and quick too. Once a customer actually purchased a pair of shoes there was no inventory to ship, so they went to a local shoe store and bought the exact shoes that were ordered, they put them in a box and shipped them to the end customer Instead of researching what % of Americans had specific shoes sizes and doing focus groups to determine the most popular shoe styles (leading them to buy a huge inventory of the most popular shoes and sizes) they launched a website for their MVP, with pictures of shoes that cost them next to nothing. The MVP validated Drew’s leap- of- faith assumption that customers wanted the product he was developing not because they said so in a focus group or because of a hopeful analogy to another business, but because they actually signed up So what is MVP - It is that version of the product which can be used to validate an idea in the least risky, least expensive and quickest way - it is about Ideas, Hypotheses and Validation - not about Scope or FeaturesĪ couple of famous examples (as articulated in various blogs/articles) of MVP as a concept for Validationĭrop box used a 3 minute video - a demonstration of the technology as it is meant to work - this was used to partly validate the idea - nothing built - almost zero cost and time. My view is that MVP is not about scope or features - it is all about Validation and Risk The term was coined and defined in 2001 by Frank Robinson and then popularized by Steve Blank and Eric Ries (of the Lean Startup Fame) - according to WikiĪccording to Wiki - A minimum viable product (MVP) is a version of a product with just enough features to be usable by early customers who can then provide feedback for future product development. There has been a considerable amount of confusion and dare I say - misuse of the word - Minimum Viable Product (MVP). Startups & MVP - What is Minimum Viable Product (MVP) - Scope or Validation/Risk?
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