There are many people out there who think that a Minimum Viable Product, also known as MVP, is a beta product, but that is not the case at all. The MVP is actually a version of a product that has been simplified as much as possible in order to be used for testing with minimal efforts in regards to how it will perform.
The one thing that is important to understand is that the MVP is more of a test that it is a product. This means that it’s meant to be used for experimenting and it should never be labeled as the official product. Let’s say for example that a company creates software that allows people to share files, but instead of releasing the software, they create an explainer video that shows the features of the software in order to see what kind of feedback they get from the community.
This is a representation of the product and it allows for a very safe way to test the riskiest assumptions of that particular product. That is basically what an MVP is and it allows companies to gather all kinds of data without having to make expensive and very risky investments.
Anything that allows you to test the riskiest assumptions is going to be categorized as MVP. The key here is that the MVP allows for a very good representation of the product. Some companies have used landing pages, power point presentations and explainer videos as their MVP and it has allowed them to collect the kind of data that validates their investment.
Those are great examples of what MVP is and how you can apply this to your own products or services before you decide to launch them. It’s an extremely powerful way to test a product without having to take any risky chances in the process.
— Slimane Zouggari