MVP is one of the most proliferated acronyms from the lean startup approach to the vocabulary of entrepreneurs. While we resist discussing the approaches in detail, the common misunderstood meaning of the word is something that must be addressed and hence this topic. To understand the apt way of developing an MVP, it is important to remember that lean startup suggests that entrepreneurs need to find a problem/solution fit, then make the transition to finding a product/market fit before scaling up.
In the problem/solution fit phase, entrepreneurs need to identify the existence of the problem that is pretty common, worth solving and having the potential to be paid for, if solved. In the solution aspect, one must consider the broad set of parameters where a solution addresses the problem involved. In the next phase, the solution is developed into a product that is then tested to find an appropriate market that picks up the product quickly. With this background, it would be useful to refer to the image below in understanding what is/is not an MVP.
Our interactions with entrepreneurs indicate that most entrepreneurs mean MVP development to be the one represented in Panel 1. Through this, they are generally referring to the development phases of the product – lay the wheels of the car, then connect the transmission system, etc. before developing the car.
The intended suggested development cycle for MVP is first, to begin with developing a complete product – as shown in panel 2, a skateboard! Doing so will help validate the existence of the problem much earlier. The problem you are trying to solve is transportation! You are not sure if people are ready for a new car when the fundamental problem of transportation is not addressed! Once you have a skateboard accepted, you could continue to improve on the feature and eventually develop a car if it is appropriate.
For example: If you are thinking of developing an audiobook for tourist spots, and you believe the quality of content is what matters, maybe the best course of action is to simply get quality recordings. See if people appreciate it when you put these recordings out and share them in MP3 players, podcasts etc. Why build the app first?
Building the MVP right, takes care of the validation of the existence of the problem, reduction in the biases, and quick learning loops.
Ask yourself:
What am I building as an MVP? Am I simply fooling myself into developing a whole product in the name of an MVP?
Disclaimer: The image is used only for demonstration purpose. Copyrights remain with the original creator. No claim of onwership.