MVP is an acronym for Minimum Viable Product. Eric Ries first introduced the concept of MVP in his bestseller "The Lean Startup". Eric Ries defines MVP as that version of a new product that allows a team to collect the maximum amount of validated learning about customers with the least effort.
An MVP has enough features to attract visionary users and early adopters of a product. By such adoptions, startups, businesses validate their hypothesis early in the product development life cycle, thus learning whether to persevere or pivot or stop, saving time and money.
An MVP experiment is essential to the idea of validated learning. Startups, Businesses articulate their assumptions, turn them into hypotheses and, like a scientific experiment, subject those hypotheses through various experiments and arrive at the validated understanding.
In an MVP Experiment, A start-up or a business builds a minimalistic version of their product, with the least amount of resources, to get honest feedback (defined by Eric Ries as 'Validated Learning') and find out if their idea works.
An MVP experiment is a series of experiments or checklists that a product idea uses to understand validity—starting from a 'sniff' test, competition analysis, customer interviews and finally, the pitch experiment.
Are you looking to to start up and validate your product idea through an MVP?Let us set up an experiment for you to get validated learning, free of cost.
Our Value Proposition
At Obii kriationZ Web LLP, we have championed the MVP experiment for over six years. We bring this experience to assist startups in evaluating their product idea and scale-ups and businesses to validate a new feature or a segment.
We help startups define their assumptions, do risk Vs Difficulty analysis, build hypotheses and establish minimum criteria for success. We advise on the ideal MVP experiment strategy and help them develop and execute. We break down the MVP experiment metrics and help startups understand their validated learning.
We analyse the product feature a business wishes to conduct an MVP experiment, list assumptions, do risk Vs difficulty analysis, build hypotheses and define minimum success criteria. We advise companies on the ideal MVP experiment strategy and help them develop and execute it. We break down the MVP experiment metrics and generate reports to decide.