Thursday, January 22, 2015

[Incomplete] Minimum viable Product. How to define what minimum is?

The concept of minimum viable product is relative. While this maybe an obvious truth, same may not hold for many newbie entrepreneurs (like myself). How do you determine what is minimum?

I think this would be based on at least 2 variables like the technology available to you and the knowledge of the idea available to you and you are sure off. Let's add a third one, your risk appetite.

Stepping back, the why of a MVP is to test. We think of it as an experiment and the outcome of this experiment is data.

Page 95 of The Lean Startup and read what Eric Ries says: “deciding how complex an MVP [Minimum Viable Product] needs to be cannot be done formulaically. It requires judgement”...

Still thinking about this... stay tuned.

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