Greetings dear community today we are going to talk about the minimum viable product a concept proposed by Eric Ries in his book the Lean starup method, the minimum viable product is a prototype of a product that we put on the market to test its function, that is, This product represents our idea but on a smaller scale, using minimal resources.
It is important to understand that it is not necessary to have a large company to bring a product or service to the market, but if it is necessary to know that our product or service offers something worthwhile and that the public wants or needs, companies often spend time and money to offer a product and they realize that the public does not want or need it, when they have already spent enough, there they realize that in addition to money they have spent the most valuable asset that human beings can have, time, because time is irretrievable.Thanks to the minimum viable product, you can focus on what the client wants and what he does not want, the idea is to change the strategy or the product as you receive the information from the clients, so on the strategy of the minimum product Viable you must make sure you have feedback with customers, so we must create, measure and learn, this process will give us the data we need, so it must be as short and linear as possible, so that it is understandable.
If the hypothesis of the product is positive, then we will invest in the product and in the necessary marketing, if it is the opposite and the hypothesis is negative, it means that people are not convinced by our product or service so we must change our strategy.
Large companies use this strategy, but not only large companies can also use small companies, if for example you open a pet store but are not sure what products to sell, you use the strategy of the minimum viable product, for example with clothes for dogs if you see that it works well then you invest more and bring more variety if you see that it does not work, you ask your clients what they need, the question is to try but not to invest all your money at once without analyzing the market first.