MVP (Minimum Viable Product)
Definition
An MVP is the simplest version of your product that solves the core problem for early users. It has just enough features to validate your idea and gather feedback—nothing more.
What is an MVP (Minimum Viable Product)? | early.tools
Examples
Related Terms
Burn rate
Your "burn rate" represents your monthly expenses relative to your available capital. Calculate your company's potential runway by dividing your total funds by your burn rate.
Pivot
A startup pivot is like a strategic shift or change of course. It's usually prompted by insights gained from user testing and analysis. Startups make pivots to adapt their product or strategy to better suit the needs and preferences of the market and their customers.
Product-Market Fit (PMF)
Product-market fit happens when your product solves a real problem for a specific market so well that people actively seek it out, use it regularly, and tell others about it.