MVP Definition (the real MVP):

A Minimum Viable Product (MVP for short) is a version of a product that has just enough features and functionality to be usable early on in the product development process. It is developed to be tested by users for product improvement. It is super important to remember that an MVP is not a finished product but more of a way to test its worth and validity to determine whether to move forward with the development, any iterations or if the product needs retiring entirely. We can also get an idea of the market success for the product.

By working on an MVP when partnering with our clients, our Minders can get feedback for their Scrum Sprints so that we are producing our best work that meets the product requirements. We really like to see ourselves as an extension of our client’s business when we partner; this allows us to better understand what they need in line with their goals.

The real MVP comes about as part of our unique ‘Sprint 0’ process, which is basically a 3-day workshop where we get to know our partner’s business inside and out and challenge their requirements to ensure the product fits them to a T! We passionately believe that it is best to challenge the client if we think there could be a better solution for their business; this is how we operate with our Agile (adaptable and flexible!) mindset. The whole team owns the project, and no matter their role, communication and collaboration are critical, especially at this stage! We never give up; by testing and iterating, we find better solutions!

Why use a Minimum Viable Product?

As already briefly mentioned, an MVP allows for quick feedback gathering in the early stages of product development; the product can be iteratively improved. The team can make informed decisions about what features to add or remove as well as change or adapt in each sprint and iteration of the development.

Some exciting benefits are:

• The final product is only developed after considering feedback from the initial set of users; it can accurately reflect what is popular and works well.
• You can quickly test new product ideas and features for fine-tuning before going through the long process of investing time and money into the product on the off chance that it might not be a success.
• You can pick up on problems and areas for improvement from the get-go.
• You can get data from early customers to help with future product development, marketing, and targeting.
• You avoid risk and wasting time as well as money.

Minimum Viable Product Example:

So let’s think about an MVP in a real-world context so you can see the clear picture.

An example that everyone might recognise is Amazon - a platform initially set up to sell books and then evolved into selling pretty much everything you can imagine! By only having one product focus/feature on set up, the designers could determine the product's popularity to inform future development and planning.

Another famous example is Airbnb which was set up as a website for the guys to rent out a room in their house - it highlighted that people were willing to use and pay for this service so more could be invested into its growth and development!

The key idea we’re (hopefully!) getting across here is that the concept of an MVP is to show if customers are willing to pay for the product.

Our expert Eddie Harrison shared an example of a real-life MVP he created to get an initial idea of the product and the problem he wanted to solve:

Eddie shared with us that the Lincoln Delivers MVP he created was a success because:

• It took 3 hours from idea to launch, meaning that it was a super quick process!
• It only cost the price of the domain name, so it was cheap and cost-effective to trial;
• It worked, which showed the idea functioned as intended;
• Businesses offered to pay for the service, which highlighted there was a need for the product.

Eddie’s MVP is a great example of an MVP in action as it shows validating an idea and testing if people will pay for it - this data allowed Eddie to decide if he would put more time and effort into developing Lincoln Delivers, kill the idea, or pivot it to something else!

Are you an MVP pro who can share your knowledge in Mindera? Check out our vacancies!

If an MVP is something your business could use to test the usefulness of a product, then check out the services we offer!