AIRAWAT ...
Minimum: It contains only the core features necessary to solve a problem or address a need.
Viable: It must be functional and provide value to early adopters.
Product: It’s a tangible offering that users can interact with.
Process: Identify Core Features: Determine the essential features required to solve the user’s problem.
Build: Develop a basic version of the product with these core features.
Launch: Release the MVP to a limited audience of early adopters or beta testers.
Collect Feedback: Gather feedback from users to understand what works and what needs improvement.
Iterate: Use feedback to iterate on the product, adding new features or refining existing ones.
Repeat: Continue the cycle of building, testing, and refining until the product meets market needs.
Benefits: Faster Time to Market: MVPs can be developed quickly, allowing businesses to test their ideas sooner.
Cost-Effective: Developing only essential features reduces development costs.
Validates Assumptions: MVPs help validate product assumptions and reduce the risk of building something users don’t want.
Iterative Improvement: Continuous feedback allows for iterative improvement, leading to a better final product.
Early Customer Acquisition: Allows for early customer acquisition and building a user base.
Dropbox started with a simple file-sharing MVP before adding more advanced features.
Airbnb began by offering air mattresses on the floor, validating the concept of peer-to-peer lodging.
Feature Selection: Deciding on the right features to include in the MVP can be challenging.
Managing Expectations: Users may expect more features than what’s offered in the MVP.
Technical Debt: Cutting corners to release quickly may lead to technical debt that needs addressing later.
Market Validation: Validating assumptions and gaining traction can be difficult in crowded markets.
