This means building a minimum viable product

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What is meant by the term Minimum Viable Product?

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The Minimum Viable Product (MVP) is a crucial component of the Lean Startup principles

An MVP can be defined as a version of a solution that contains the minimum feature set that satisfies the needs of the customer.

Importantly, an MVP must also establish that a customer would pay for the solution, assuming that this is part of the business model.

An MVP is a step within a routine known as Build, Measure, Learn. First, an MVP is built, then reactions are measured and then learnings are accounted for, before repeating the process, refining the MVP each time.

There are plenty of good reasons to employ MVPs.

good product teams do so because they understand that you can’t assume you know what your customers want and that you should “focus your MVP on validating your assumptions about users, and listen to their reactions closely.

MVPs will also help your team focus on what’s important — testing key features as opposed to all of them and reacting iteratively based on what is learned.

Startups will find it easy to throw caution to the wind and release iterations of a product to a live audience, even if there are serious flaws present.

This approach is much more difficult for larger companies.

His suggestion is that you reframe your MVPs as MVEs (MV Experiments). Beyond altering some of the ways you approach the process, this seems to be mostly nomenclature.

This would later be replaced with sophisticated software once the product was validated.

You could also simply create a landing page that sufficiently illustrates the value proposition and presents this to potential customers online or in person.

Co-op Digital is helping the wider Co-op transform its business by building digital products and services.

We know some of our readers have an interest in how technology and digital skills can help businesses but if they’re not part of that digital and design community they’re unlikely to be familiar with some of the terms we use in our blog posts.

we’ll be publishing a post from the wills team on their ‘minimum viable product’ so it’s worth explaining this particular term now.

Minimum viable product’ or ‘MVP’ means slightly different things to different people and organisations but here’s what we mean when we talk about MVPs.

At Co-op Digital we work in an ‘agile’ way to deliver software because we believe it’s important to give the user value, quickly.

Part of working in an agile way is releasing an MVP to help us learn what’s working and what isn’t so that we can improve products quickly, cost-effectively and without needless risk or waste.

An MVP isn’t the first release of a big concept made up of smaller features. It doesn’t come with a plan to add more features in the next iteration whilst also trying to fix features that don’t work. It’s not the final product either.

To us at Co-op Digital, an MVP is the first attempt to solve our users’ problems. It’s an experiment.