What does MVP mean? Minimum Viable Product Example and Benefits

What does MVP mean? Why create minimum viable product? Watch this video to get answers and learn what does MVP stand for, as well as minimum viable product examples and benefits.

Airbnb, Twitter, Uber, and Spotify started their way as MVPs. The minimum viable product approach stipulates step-by-step product evolution keeping in mind user feedback. It also corresponds to the philosophy of ‘ship early, repair later’.

We can define minimum viable product as a release of some features to be validated within the market. MVP is meant to bring the core value for early adopters. Meanwhile, newbie entrepreneurs may doubt the necessity and feasibility of this concept and prefer to skip the MVP stage. But that’s a risky decision, and your startup may end in disaster.

The core benefits of minimum viable product approach include:
🔸 resources optimization
🔸 early customer acquisition
🔸 value proposition focus

At the end of the video, we will review the Mailtrap case ( showing how to build a minimum viable product, and how your business can benefit from using this Lean Startup approach.

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