THE REAL MVPs ALWAYS DEPLOY MVP
It's never a walk in the park to build a product, talk more of turning such product into a multi-million venture. There are no doubt hundreds fantastic products, businesses and business ideas lie repose in the valley of despondence. There are several decisions you will have to make as an entrepreneur and these will determine the level of successes or failure your product or business will record.
One very important aspect of your decision is the usage of MVP. No, the MVP here is not "Most Value Player", it is Minimum Viable Product. It is a term coined by Frank Robinson, the CEO of SyncDev, Inc. in 2001. Robinson used MVP to described the “simplest version of a deployable product.” or you could call it that version of a product with just enough features to be usable by early customers who can then provide feedback for future product development.
The importance of such strategy cannot be overemphasized, it is one of the foundation upon which the success of most of the product and companies we see around today are built. Coming up with a great business idea is hard, but it is a child's play compared to building the capacity and patience it takes to turn a mere product or business idea into a world acclaimed success.
WHY DEPLOY AN MVP
Before jumping the gun and building that sophisticated product, it is very much necessary you have some information on your fingertips;
Does my idea even appeal to anyone?
Believe it or not, that an idea appears sound and great to you does not mean everyone will buy into it. Your MVP is a way for you to discover whether people have any interest in your idea and will will be willing to pay you for it.
Let's take Uber for instance, they started by deploying a MVP; Ubercab, which is a web based app that only works on iPhone among only the founders and invited people in San Francisco. This was how they could tell that people are really interested in their product before they began to invest in it heavily. Your MVP will save you a lot of stress and resources that could've been otherwise wasted.
How can I improve on my Product?
Your Minimum Viable Product won't only help you entice early adopters, it is also an avenue for you to generate the feedbacks that will be useful for future product development. Many companies are great today because they build their product on the several feedbacks they got through their MVP.
I added one of the greatest video on MVP.
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