A Minimum Viable Product (MVP) is a prototype that focuses on the most important part of a product or service. It is typically offered to a group of potential customers. The most important aspect of the prototype is viability in order to test the core of the value proposition, to learn from it and to be able to replicate the idea. This is not a pilot project, which instead is designed to test the final product with a selected customer group.

The concept of the MVP became popular with Eric Ries’s approach, in his book ”Lean Startup“.

The aim of a MVP is to avoid the risk of building products or services that nobody wants. Eric Ries defines the MPV ”The minimum viable product is that version of a new product which allows a team to collect the maximum amount of validated learning about customers with the least effort“. For example, Dropbox used the concept of a MVP and created a 3-minute explanatory video in order to demonstrate the product. Their sign-ups went up from 5,000 people to 75,000 overnight — without having a real product.

Dropbox
Their challenge was to demonstrate the working software in a prototype form. Therefore they decided to test it with a short video that explains the value and core functions >> “It drove hundreds of thousands of people to the website. Our beta waiting list went from 5000 people to 75000 people literally overnight. It totally blew us away.”