It is surprising to see many founders who want to build the MVP, without realizing what an MVP actually is. The MVP is probably the most important concept you need to understand as a founder.
With over 40 million monthly users, Uber’s journey has been spectacular. So much so, that other startups now aim to be the next ‘Uber’ of the industry they cater to.
The Minimum Viable Product (MVP) is a product which has just enough functionality to validate the underlying assumptions, test and learn about the target market and plan for the next evolutionary functionality for its continued development. Incidentally, most founders build MVP as if it were a prototype or a full-blown product and fail to find the right balance between the two.