Minimum Viable Product (MVP) in Product Management

As I delve further into Product Management, I’m keen to share my learnings. I hope you find this overview of the importance of an MVP useful.

What is an MVP?

An MVP is a product designed to provide just enough usability for early-stage customers to give feedback for future development. It is the first version of a product which shows basic functions and gives an outline of what is possible with further development and funding. It is important that it shows enough to generate interest and show the potential of the future versions of the product.

Why is an MVP important?

·        Bring your product to market in the shortest possible time

·        Minimise costs by only focusing on the bare bones of the product

·        Generate feedback from potential customers as quickly as possible

·        Build a knowledge base for future iterations of the product

·        Find out what doesn’t work and keep focused on what does

Points to remember whilst creating your MVP

1.      Know your market and make sure your product fills a need

2.      Lead with value and ensure your customers understand the benefits

3.      Make sure the user can understand the flow of the product and this follows a convenient structure

4.      Prioritise the features and implement those with the higher positive impact

5.      Have confidence to launch your MVP making sure it is fit for purpose

Once the MVP has been launched, make the most of it! Collect as much data as possible and use it effectively to support the decision making process forward.

I’m keen to talk to Product Managers and Product Owners who are looking for their next career move.

 If you’re a hiring manager looking to add to your Product team let’s connect and discuss what you’re looking for.

 Email me [email protected] or call me on 07458 301 658