Greg Cohen is the author of Agile Excellence for Product Mangers and a Lean Product Management expert. He is here today to help us define Minimum Viable Product, or MVP.

First Greg explains what an MVP actually is and why it's critical.

The idea of the MVP was initially brought on the scene by Lean Startup although these days the meaning can be very different depending on who you ask. What we have found to be the most straightforward and useful is to think of the MVP as an actual product. It is the minimum product that is useful to a segment of your customers.

Specifically a segment of early adopters who would rather have your product in it's current format that wait any longer for an improved version.

The Minimum Viable Product is something that can actually be put in the market place and used by customers in real life.

In addition to practical utility, it's important to consider whether the customers are inclined to exchange value for the product, i.e. pay for it.

Basically a Minimum Viable Product is something that your customers are willing to pay for and that has just enough functionality to solve their pain point.

If you would like to learn more about the fascinating world of Lean Product Management, attend Greg's upcoming webinar:

6 Lean Steps to Get to Market in Record Time
[ Ссылка ]

and download his free book:

Lean Product Management
[ Ссылка ]

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