Management Fix: “Minimum Viable Product (MVP) Launch”

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Description

This week’s “Minimum Viable Product (MVP) Launch” is a hugely ignored solution, especially within startups.

By definition, the minimum viable product is a development technique in which a new product is developed with sufficient features to satisfy early adopters.

An MVP is the most pared-down version of a product that can still be released.
An MVP has three key characteristics:

• It has enough value that people are willing to use it or buy it initially.
• It demonstrates enough future benefits to retain early adopters.
• It provides a feedback loop to guide future development.

(Extracted and adapted from https://www.techopedia.com/definition/27809/minimum-viable-product-mvp)

A fundamental premise behind the idea of MVP is that you produce an actual product that you can…