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Anybody who is launching the project for the first time naturally comes to the question what to start with. This is where the term “minimum viable product” comes to the light. No matter if you are planning on building a small business or big one. Smart business strategy, which happens to be extremely effective in recent years insists on focusing a part of your efforts on MVP. In the article, we are going to take a very close look at the mechanics of MVP as a video, giving an all-encompassing look to this matter.
Let’s say you want to showcase your future product to the investors, and to the audience (maybe among these people your investors are playing hide and seek, who knows). Any software development is a very expensive thing. Not only the process of developing will be very costly for you, but the other stages, too. So, naturally, you don’t want to spend a considerable part of the budget on the example of your product. Here you get exactly what you needed — a minimum viable product.
Even though there are many concepts after this term, and various interpretations being given, everybody agrees that it has to be super cheap.
So what is MVP, exactly? It stands for a minimum viable product. To put it even shorter, this is a very reduced version that doesn’t have to be as complex as the original one.
