What is MVP? – Entrepreneurship 101

You probably have heard  several times the term “MVP”, but how many times was it properly used in a suitable situation?

A lot of people seem to misuse and misunderstand what the Minimum Viable Product (MVP) really means. In this video, you’ll properly understand what MVP is, with industry proven examples, like Dropbox and Zappos.

This animated video highlights that the main idea behind a Minimal Viable Product is: LEARN, VALIDATE and ITERATE with the least amount of resources. It is a validated learning process, which means that you need to prove that the customers want what your vision offers, regardless of the process or the operations.

A Minimum Viable Product in entrepreneurship is lean process to learn, validate and iterate to build a product people actually want. MVP is a term that was popularized by The Lean Startup movement by Eric Ries.