Thread: Is MVP really so important in case of business?

What do you think? Or can you share with your own experience?

MVP is minimum viable product, it's the smallest thing which you can create and which will deliver customer value, it also captures some value back which you get paid. The simpliest definition is that it's a new product which is introduced to the market with some basic specs and which is used for getting attention from your customers and gathering feedback from the first ones among them. One of its main advantages is fast development, making and releasing such 'demo' product takes really less time than preparing the final one, it helps you to be the first one on market with a certain idea and also saves your from stealing the original idea by your competitors :) With MVP you reduce the risk of future investments in the certain product too https://idapgroup.com/blog/mvp-what-why-how/ because general feedback for its prototype shows you how profitable it can be in future at all. Its connected with cutting the general costs for it too because there's no need for spending much money in developing the prototype. You can also find 'your' clients in such way and modify product, make it better according to their needs and feedback https://clearbridgemobile.com/the-be...e-product-mvp/ , this will make it even more successful in the end.
Considering all these things MVP is a very important and necessary thing for almost every type of business.