Benefits of MVP
Embracing a Lean MVP product design and development model within your organization helps keep costs at a minimum and allows you to test and validate your ideas much faster:
- Keep it simple: Focusing on core functionality that delivers immediate value/utility allows you to get your product into the market faster, rather than committing to endless cycles of development that are needed to deliver a full-blown multifeature product.
- Save money: Reveal the market validity of your product and justify a case for further investment and development. Have a working prototype that allows you to pivot or persevere with minimal costs or efforts.
- Learn and evolve: The iterative and evolutionary nature of the MVP model is meant to be fast and nimble. It allows you to mature and refine your product over time in short sprints, while simultaneously surfacing invaluable user feedback and insights that help inform and shape your future iterations.
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