What defines a minimum viable product?

A minimum viable product (MVP) is best defined as a version of a product that allows the team to collect the maximum amount of validated learning with the least effort. This concept is rooted in the principles of lean startup methodology, which emphasizes efficiency and learning through experimentation. The goal of an MVP is to test assumptions about the product and its market fit quickly and cost-effectively, allowing for iterative development based on user feedback.

By focusing on the core features necessary to fulfill the essential purpose of the product, the team can gather insights into customer preferences and behaviors. This information is invaluable for guiding future product enhancements and ensuring that subsequent iterations are more closely aligned with user needs and desires. The emphasis is on learning and adaptation rather than delivering a fully fleshed-out product from the start.