C Level Executive List

MVP in Business: Definition and Examples

Have you ever heard or read the term MVP? For those who like to play online games or like basketball, it might be interpreted as the most valuable player . However, in this article, that’s not what we’re going to discuss, OK? Curious? Come on, read this article to the end.


A brief History
In this article, the MVP that we discuss stands for minimum viable product . This term was popularized by Eric Ries in his book entitled Lean Startup Movement (2009). In addition, there is also Steve Blank who popularized it in 2010.

In his book, Eric Ries emphasizes that starting a startup company requires a minimum viable product that is used to validate assumptions about customer needs.


UnderstandingThen, what is the real

MVP? According to Eric Ries, a minimum viable product is a strategy to develop a product with as few features as possible to get maximum validation for user needs.

According to Steve Blank more or less the same as Eric Ries. MVP is about how to design a product with minimum effort and cost to find out as many customer needs as possible.

However, Blank said that the product VP IT Email Lists being developed should not only focus on the goal of finding “the cheapest production costs”. More than that, the minimum viable product must be in the form of the most advanced method that can be useful for users. It aims to reduce costs that are carried out to be efficient.


Following are the various benefits of a minimum viable product summarized by Duc (2020) based on Eric Ries’ explanation.

Resource Optimization
As previously mentioned, a minimum viable product can use resources as well as possible, but the results are very maximal. This reduces costs and labor, and makes the final product design process more efficient.

Faster Customer Acquisition

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Even though the features in the product are not maximized, if the product is designed well enough it will attract customers first. In fact, when customers are obtained more quickly, it is easier to find out what they really need.

Focus on Product Value
Having a minimum viable product allows CRYP Email List companies to focus more on the strengths and weaknesses that already exist, especially with user validation. This is very helpful for developing the final product that will actually be marketed.

Become a Platform for Innovation
By designing a minimum viable product , companies can be more “free” in experimenting. This of course has the opportunity to create new things with existing designs.

Can Be Used Continuously
In accordance with its main function, namely maximizing existing resources and minimizing effort in product development, of course MVP is not disposable. The minimum viable product should be used continuously for the next cycle.

Communication and Documentation Tools
That is, a minimum viable product can be a tool to be introduced to policy makers before creating the final product. This makes it possible to accommodate both business and technical needs. In addition, the MVP design will later become documentation for the technical team in the next cycle.

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