The MVP (Minimum Viable Product) is a technique developed by Frank Robinson, an entrepreneur and startup advisor. It is a way of quickly creating and testing a product with the minimum features necessary to gather valuable feedback from early customers.
The purpose of the MVP is to validate a product idea and gather data on its potential market before investing significant resources in its development. By launching a minimal product version, companies can gather feedback from real users and use that information to iterate and improve the product before fully launching it.
The MVP technique allows companies to minimize risk and maximize efficiency by focusing on essential features and gathering data on what users value most. This approach can help businesses to identify and solve problems earlier in the development process and ultimately create a more successful product.
Some examples from companies that decided to use an MVP for launching their products:
- Dropbox: When Drew Houston and Arash Ferdowsi founded Dropbox in 2007, they launched an MVP in the form of a short video explaining the concept and inviting users to sign up for the service. They gathered valuable feedback and grew their user base before fully launching the product.
- When Brian Chesky and Joe Gebbia founded Airbnb in 2008, they launched an MVP by creating a website where users could list and book accommodations. They started by targeting a specific event (the Democratic National Convention) and were able to gather valuable data and improve the product before fully launching it.
- Groupon: When Andrew Mason founded Groupon in 2008, he launched an MVP by creating a simple website that offered daily deals in a single city (Chicago). He gathered data and user feedback, which helped him refine the product and expand to other cities.
- When Daniel Ek and Martin Lorentzon founded Spotify in 2006, they launched an MVP as an invitation-only private beta. They gathered data and feedback from early users, which helped them improve the product and expand to more countries.
- Zappos: When Nick Swinmurn founded Zappos in 1999, he launched an MVP by creating a simple website where users could purchase shoes from a single manufacturer (Hush Puppies). He gathered data and feedback from early users, which helped him expand the product offerings and improve the overall customer experience.