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.

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