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Minimum Viable Product

Minimum Viable Product

The Minimum Viable Product is the simplest, most basic form of a product or service, which can be sold in the market. This doesn't have all of the bells and whistles but has enough features to work. Basically, it is good enough but not perfect.

Releasing an MVP allows one to get feedback at an early stage, and improve the product later on.

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If you already have a big, successful product in the market and want to launch a new, not-so-perfect product, it may not be a great idea.

If a product isn't perfect, the thing to consider is if it provides value to the user as it is, or not.

If a product is being launched in the market that is new and does not have competition, then launching it with bare minimum features is the right way.

For work that is not mission-critical, sometimes it is better to be just good enough, instead of being perfect.

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Take any product that is considered to be best in class, and you can quickly find some issues with it. The iPhone doesn’t offer some of the flexibility of Android. A Tesla doesn’t have the same range as gas-powered cars. Gmail is missing some features that other alternatives provide.

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