We are all busy. We are all in a constant rush. The world is looking for quick and easy solutions that will simplify our lives. Every day we can download new applications that are supposed to think, remember or count for us. There is an app that reminds you about eating your meals or another one that counts how long you brush your teeth. The way the world runs forces us to abandon simple everyday activities so that we can keep up with everyone else. This same can be applied to most businesses today.
We all do our best to provide an excellent product as quickly as possible, and that is why we search for the best solutions. Luckily, Eric Ries, the inventor of the lean start up, when he popularised the MVP method. This acronym details a blessing for both us, the professionals, and our clients. How does it work?
MVP, meaning Minimum Viable Product, represents the absolute minimum value we can deliver that satisfies the client at the same time. However, it should not be seen nor understood as a finished product, but as a process of creating it. This process saves our time and our client’s money while ensuring that the product is good and delivered quickly. In order to do so, we need to follow a few simple rules.
There is a reason why some call MVP most valuable product. It is surprisingly useful for both professionals and clients. How does the client benefit from this method then? It is, without doubt, a win-win situation as our client can enjoy the product much faster, having spent much less money than he would typically do. Receiving the product quicker allows him to get used to it, notice what it lacks and understand what he needs at the same time. This will improve future cooperation. One of the most significant examples of the MVP that has been shared by the whole world is Dropbox.
The company that is now worth more than 8 billion USD started with a simple video presentation explaining what their product would do. The building of the product itself did not begin before their beta waiting list hit 75,000 people. That way, they knew they could start working on the project, and the clients exactly knew what they would get.
Sadly, there is a thin line between seeing MVP as a product and as a process. Many companies decide to work on MVP spending months, creating a product that has no value and no potential client. Remember that Minimum Viable Product is not about chopping out half of the features or providing the product earlier than you were supposed to. Taking shortcuts is not making life more straightforward, as you may end up getting lost.