What is a Minimum Viable Product - MVP?

The video explains the concept of a Minimum Viable Product (MVP), its purpose, and its benefits. An MVP is the first version of a product that allows a company to gather maximum validated learning about customers with minimal effort. It helps in understanding customer needs, managing risk, and improving product quality. The video also discusses the importance of balancing functionality and quality, generating revenue, and managing risk in the early stages of a startup. The ultimate goal of an MVP is to learn about customer behavior and preferences to create a better final product.

What is a Minimum Viable Product (MVP)?

Who coined the term Minimum Viable Product?

What does Eric Reese emphasize about the MVP in terms of validated learning?

What is the core purpose of a Minimum Viable Product?

What are the secondary purposes of a Minimum Viable Product?

Explain the importance of gathering customer feedback through an MVP.

How does an MVP help in managing risk?