Minimum Viable Product
Also called MVP
Minimum viable product: the simplest version of your product that lets real users experience the core value and gives you real learning, with the least effort. Not a rough draft, but a focused first cut.
Why it matters
The MVP exists to test whether people actually want what you are building before you pour months into it. Founders who skip it, or gold-plate it, waste their scarcest resource, time, on features nobody asked for.
For example
Airbnb's MVP was a simple site offering air mattresses in the founders' own apartment, enough to test whether strangers would pay to stay.
Worth your time
Related terms
Go deeper
See how founders actually handle this on Building the product, part of the Starting Up hub.