It’s a natural tendency to believe that if we have an MVP we have a successful product.
While building an MVP is the right step in the direction of launching a new product, sometimes things go south. It doesn’t imply that your idea is a bad idea. On the contrary, it is a learning experience. What worked for you and what didn’t work, what can be tweaked and what needs more attention.
IT IS NOT DOOMSDAY!
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Myth #2
MVP is a one-man show: it is driven by a single feature
MVP has ‘must-have features’ for converting your idea into a talking and walking product.
It does not mean it has to have a single feature. Your MVP can have dozens of features, focusing on the core scope of the product and evolving through user feedback.
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Myth #3
MVP is just for startups
With new experimental startups coming up across the world, the growing notion is that MVP is only for startups. Well, it’s not true. MVP is for anyone who is testing their product idea.
MVP is for products of all sizes. For example, Tango Card launched their MVP called “Reward Genius” after it was a well established company.
MVP is the best way of testing the waters for your product, be it a startup or a multi dollar company.
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Myth #4
MVP is a prototype
There is a primary difference between prototype and MVP and that is sufficient to debunk this misconception.
A prototype is a non-working MVP. An MVP is a working prototype.
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Myth #5
MVP just implies money, money, money
MVP is a step closer to your end game and not the end game itself. It is a tool to learn, build and measure your product. It helps bring considerable sales and profits. But it also helps you understand whether your product idea is viable or not.
Learn about the advantages and disadvantages of MVP>>>
Read the whole thread by Jensen Harris.
