An MVP is a “Minimum Viable Product.” This is a first version of your product that meets all the needs of some group of users sufficiently to convert them into buyers.
It is important to remember that an MVP is not a fully developed version of the product or service, it is not intended to address all possible needs or customers, and is only intended to provide the most basic features or functions necessary to attract the first clients.
After completing a traction study, developing an MVP is the most important thing that your company can do to launch a new product or service. An MVP allows your company to get into the marketplace, start attracting customers and staking a claim. An MVP also allows your company to begin collecting feedback from real users about features, functions, pricing, usage, preferences, interface, design and other critical items.
To discuss development of an MVP for your company, contact JumpPhase today.