Any good company starts with good idea. However, turning that idea into a thriving business it more complicated than expected. This first step to turning an idea into a company is the Minimum Viable Product (MVP). The Minimum Viable Product is a product with only a basic set of features. It must capture attention of early adopters and make your solution unique (Yu, p. 61)
Many entrepreneurs are perfectionists and they want their first product to be perfect. However, creating a Minimum Viable Product that can be added onto or modified later has its advantages. It lets the company go to market sooner, it allows product testing before a full release, it minimizes production expenses, and it provides insight into your product and customer base. Just like the MVP containing only core features, creating the MVP allows the entrepreneur to focus on the core features and values of the company. The MVP helps steer the entrepreneur on the path to a successful future by focusing not only on features and functionality, but the MVP also drives the entrepreneur towards a well-defined customer based and scalability.
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