What is an mvp, and why is it important in business?

Are you wondering what is an mvp? You really hear a lot about it lately, but not everyone realizes the value of using it for their business. You will learn all the most important information about mvp from this post. Enjoy reading!

What is an mvp – definition

If you don’t know what is an mvp, we come to you with a short definition that everyone can understand. This term means “minimum viable product”, and avoids pointless, unprofitable work. How?

By creating a new product or service that is cost-effective and will gather as much information and data as possible. This notion appeared in Eric Reis’ book, “The Lean Startup”. He signaled that it is not worth investing a lot of time to create the “perfect” product. What advantages does mvp have for a company?

what is an mvp

Advantages of mvp for business

There is no denying that mvp has many advantages for business. The first one is definitely that it is very cost effective for the company. It allows you to gather feedback from customers and improve your product or service based on that. It is also worth mentioning that by implementing mvp you will check if your product works without investing a lot of money. We hope you found out what is an mvp!

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