Learn more about common financial (and startup) terms here. To learn more about Pilot, fill out the form below.
A minimum viable product (MVP) is an early version of a product that you can release to see if you’ve found a product-market fit and to gather feedback. Rather than spending resources to build a product that customers don’t want or enjoy, you can release an MVP and then use the feedback to create the next version.
Startups and large businesses alike use MVPs to test new products, services, and business models. They’re part of the lean startup methodology, which prioritizes fast development cycles based on user feedback.
When you build an MVP, you’re trying to learn from rather than sell the product. It should have enough features for users to understand your intent and offer criticism, but you don’t want to invest in additional features until customers validate your concept.
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