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What is an MVP (Minimum Viable Product)?

WHAT Question

Quick Answer

An MVP is the simplest version of your product that solves the core problem and delivers value to early customers. It has just enough features to validate your hypothesis and get feedback, not to be feature-complete. The goal is to test assumptions quickly and cheaply.

Detailed Explanation

The Minimum Viable Product concept, popularized by Eric Ries in "The Lean Startup," is often misunderstood. It's not just a "basic product"—it's a learning vehicle. The "minimum" part means the least features needed to deliver value. The "viable" part means it actually solves the problem (not broken or useless). Many founders build too much before launching, spending 6-12 months in isolation. An MVP should take 2-8 weeks maximum. Examples of great MVPs: Dropbox's explainer video (validated demand before building), Airbnb's simple website with photos of their apartment (tested concept), Zappos founder photographing shoes at retail stores (tested online shoe buying without inventory). The MVP is not your final product—it's a test. You're validating: (1) Do people have this problem? (2) Will they use my solution? (3) Will they pay for it? Based on feedback, you iterate or pivot. The biggest mistake is adding too many features to the MVP. If removing a feature makes the product useless for solving the core problem, it stays. Everything else is cut. Ship fast, learn, iterate.

Real-World Examples

Dropbox: Drew Houston created a 3-minute video showing how file syncing would work. Got 75,000 signups before writing most code.

Airbnb: Founders rented air mattresses in their apartment during a conference. No app, no payments—just validation of concept.

Groupon: Started as a WordPress blog where the founder manually emailed PDF coupons. Proved concept before building platform.

Key Takeaways

  • MVP should take 2-8 weeks, not months
  • Focus on ONE core feature that solves the problem
  • Launch imperfect product fast > wait for perfect product
  • MVP is for learning, not for final product perfection
  • If people won't pay for MVP, they won't pay for full product

Frequently Asked Questions

How much should an MVP cost?

Software MVP: ₹50,000-₹5 lakhs. No-code MVP: ₹5,000-₹50,000. The cheaper and faster, the better for validation.

Should I charge for my MVP?

Yes! Charging validates real demand. If people won't pay for your MVP, they likely won't pay for the full product either.

How do I know when to move beyond MVP?

When you have clear product-market fit: >40% retention, users referring others, and consistent revenue growth. Don't add features just because users ask.

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What is an MVP (Minimum Viable Product)? - Complete Answer (2025) | startupideasdb.com