The missing entrepeneurs

What is Minimum Viable Product?

The Minimum Viable Product (MVP) is the version of a product or service with essential features, sufficient to be used and validated by the first customers. It allows you to learn about your customers’ needs before proceeding with the development of the final product. The MVP term was created in 2001 by Frank Robinson, co-founder of SyncDev, to denote the product with the highest ROI (Return on Investment) in relation to risk.

Why is it important for entrepreneurs and businesses?

The Minimum Viable Product is the cornerstone of the business idea validation process, as it allows, without incurring high costs and time-consuming procedures, to avoid creating a product or service that the market does not demand, or that does not effectively solve any real problem. The latter is one of the main reasons why start-ups fail! The Minimum Viable Product allows you to optimise the path a start-up takes to succeed.

Do you want to learn more about the concept behind?

| Course title | Objective | Author | Link | | ------------ | --------- | ------ | ---- | | Minimum Viable Product | - Define MVP - Short analysis of case studies - Steps for developing MVP | Young Entrepreneurs Teaching Initiative | [http://www.yetierasmus.eu/course/young-entrepreneurs/lessons/minimum-viable-product/](http://www.yetierasmus.eu/course/young-entrepreneurs/lessons/minimum-viable-product/) | | Creation and partial analysis of MVP | This short course provides you: - Definition of MVP - MVP tools - Additional learning resources on MVP | Erasmus+ W.R.I.T.E project | [http://erasmus.cfiformazione.it/pluginfile.php/132/mod_resource/content/3/html5.html](http://erasmus.cfiformazione.it/pluginfile.php/132/mod_resource/content/3/html5.html) | | Launching the Imperfect Business- Lean Startup | This mini-course will help you understand what an MVP is and why companies don’t need to have a perfect product to launch; you will better understand pivoting and when it is necessary. | LibreTexts | [https://biz.libretexts.org/Sandboxes/Team_Sandbox%3A_PGCC_MGT1010/MGT_1010/05%3A_Book-](https://biz.libretexts.org/Sandboxes/Team_Sandbox%3A_PGCC_MGT1010/MGT_1010/05%3A_Book-_Entrepreneurship_(OpenStax)/5.10%3A_Launch_for_Growth_to_Success/5.10.02%3A_Launching_the_Imperfect_Business-_Lean_Startup)*[Entrepreneurship](https://biz.libretexts.org/Sandboxes/Team_Sandbox%3A_PGCC_MGT1010/MGT_1010/05%3A_Book-_Entrepreneurship_(OpenStax)/5.10%3A_Launch_for_Growth_to_Success/5.10.02%3A_Launching_the_Imperfect_Business-_Lean_Startup)*[(OpenStax)/5.10%3A_Launch_for_Growth_to_Success/5.10.02%3A_Launching_the_Imperfect_Business-_Lean_Startup](https://biz.libretexts.org/Sandboxes/Team_Sandbox%3A_PGCC_MGT1010/MGT_1010/05%3A_Book-_Entrepreneurship_(OpenStax)/5.10%3A_Launch_for_Growth_to_Success/5.10.02%3A_Launching_the_Imperfect_Business-_Lean_Startup) | | Building Minimal Viable Product with Michael Seibel \| Decode Academy UC Berkeley Course Fall 2020 | This course will give you: - Introduction to MVP - Presentation by Michael Seibel, founder of Twitch - Issues and accelerators in the start-up field - Struggles of building a start-up - Practical examples (Airbnb, Dropbox..) | Decode Youtube | [https://www.youtube.com/watch?v=m4isFputh68&ab_channel=Decode](oembed:https://www.youtube.com/watch?v=m4isFputh68&ab_channel=Decode) | | Minimum Viable Product and Pivoting: Crash Course Business Entrepreneurship #6 | This course offers: - Basic concepts of MVP - Practical examples of design thinking: failure and success | CrashCourse Youtube | [https://www.youtube.com/watch?v=kmfC-i9WgH0&ab_channel=CrashCourse](oembed:https://www.youtube.com/watch?v=kmfC-i9WgH0&ab_channel=CrashCourse) | | Product discovery tools | A short series of videos addressing the following topics: - MVP study cases and advantages - Types of MVP with practical examples - High and low fidelity MVP - Myths and facts of MVP - Proof of concept - Prototype - Minimum lovable product - Minimum marketable product - MVP with improved UX - How to to build an MVP - Value proposition Canvas - MVP success measurement: metrics - Lean Canvas examples - MoSCoW methodology to shape a product | Railsware Product Academy | [https://www.youtube.com/playlist?list=PLlRtt3cDxl4VfHs-dpYEwoB9R6r0FSNCL](oembed:https://www.youtube.com/playlist?list=PLlRtt3cDxl4VfHs-dpYEwoB9R6r0FSNCL) | | MVP - What you need to know | A series of videos will guide you through: - Explanation of MVP, with a particular focus on the meaning of "minimal" and "viable" - Examples of MVPs: Buffer, Zappos and Dropbox - A "deep dive" into the leanest type(s) of MVP - A real-life MVP Worked Example - The wizard of Oz MVP | Development that pays | [https://www.youtube.com/playlist?list=PLngnoZX8cAn_AoG-r3_2aqYCHIu-dQXEh](oembed:https://www.youtube.com/playlist?list=PLngnoZX8cAn_AoG-r3_2aqYCHIu-dQXEh) | | How to Build an MVP (Minimum Viable Product): The Definitive Guide | -What You Need To Do Before Building an MVP -Define the Main Problem Your MVP Will Solve -Find the Early Adopters of Your Product -Does the Product Satisfy Strong Market Demand? -Analyze Your Competitors -List All Necessary Features and Prioritize Them -Landing Page for Your MVP -Strategies for Building an MVP -MVP Toolkit -Front-end Frameworks -Back-end Languages -Function as a Service (FaaS) -Identity as a Service (IDaaS) -Database as a Service (DBaaS) -Payments as a Service (PaaS) -Cloud hosting | Andrej Gajdos | [https://andrejgajdos.com/how-to-build-an-mvp-minimum-viable-product-the-definitive-guide/](https://andrejgajdos.com/how-to-build-an-mvp-minimum-viable-product-the-definitive-guide/) | | Listening to the customer | This course deals with the customer and emphasizes qualitative methods used in marketing research (interviews, focus groups, Voice of the Customer, composing questions for a survey) | MIT OpenCourseWare | [https://ocw.mit.edu/courses/sloan-school-of-management/15-821-listening-to-the-customer-fall-2002/](https://ocw.mit.edu/courses/sloan-school-of-management/15-821-listening-to-the-customer-fall-2002/) |

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The most relevant tools within this area are:

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Justinmind

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Mopinion

Mopinion is an all-in-one user feedback platform that helps digital enterprises understand their market, on the different digital means (web, mobile, and email). Mopinion enables you to create customisable online feedback forms (including various CX metrics such as NPS, CES, and CSAT) and trigger them based on rules such as mouse movement, time on page, exit intent and much more. It also includes comprehensive visualisation in customisable dashboards as well as text analysis and smart labelling capabilities. To act upon feedback or collaborate among members of your digital team, users can make use of proactive alerts, role-based views and connect to Project Management tools such as Trello or Asana. Mopinion is not free, but it does offer a free trial period.

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Thunkable

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Figma

Figma is a web-based graphics editing and user interface design app. The tool is useful for a number of graphic design works: from wireframing websites, designing mobile app interfaces, prototyping designs, crafting social media posts. Figma can be used online, easily accessible. Cloud Storage is available. All unsaved files are automatically saved in drafts. The tool is useful for team collaboration, it is possible for more editors to work on a project at the same time. Editors can also comment directly, allowing remote discussion.

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Justinmind

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Similarweb

Getting an overview of competitors’ work enhances understanding of the market segment you aim to grow in. SimilarWeb is a tool that estimates the total amount of traffic different websites get. It allows you to see competitors' top traffic sources, referring sites, social traffic, and top search keywords. With the free basic version of SimilarWeb you can get a good first insight of the market and what competitors are doing. For a well-founded CI analysis, one should therefore think about a PRO account.

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