The Minimum Viable Product (MVP): How to Build, Launch, and Learn with Less Risk

Laura Lin / October 7, 2024

Introduction

When launching a product, it’s easy to get caught up in adding all the bells and whistles. But what if we told you that sometimes, less is more? This is where the concept of a Minimum Viable Product (MVP) comes in—a lean, efficient way to launch a product without waiting for perfection. At Launch Pilot, we help companies define, build, and refine MVPs, ensuring that their product development process maximizes learning while minimizing waste.

The Minimum Viable Product (MVP) is the simplest, most stripped-down version of your product that still solves a problem or delivers value to your users. In this article, we’ll break down how we go about creating MVPs, explain why they’re essential for any lean startup, and show how they help you focus on validated learning and continuous iteration.

What is an MVP (and Why It Matters)?

The MVP concept was popularized by Eric Ries in The Lean Startup. It’s the simplest version of a product that allows you to collect useful feedback from real users without the cost and complexity of full-scale development. In today’s product development cycle, starting with an MVP reduces risk by focusing on learning what works for your customers before investing heavily in a final version.

MVPs give you the opportunity to test your product idea with early adopters, validate assumptions, and ensure you’re building something people want. Simply put, an MVP is about answering the most critical question: “Will people use this?”

The Core of an MVP: Solving a Problem

An MVP isn't just a bunch of random core features thrown together; it's about delivering the most critical aspect of your value proposition with the least amount of work. The first step in the product development process is identifying the core problem your product will solve. At Launch Pilot, we work with clients to define the customer needs and pain points that the MVP will address.

For example, Dropbox’s MVP focused solely on file syncing, while Airbnb's MVP was nothing more than a simple website for people signing up to rent air mattresses in someone’s living room. Neither of these initial products were perfect, but they focused on solving the user’s most pressing need.

The Key to Success: Gathering Feedback

Once you have your MVP, it's time to release it to a small, targeted group of early adopters—people who will provide feedback to help you improve your product. Gathering feedback is the core of validated learning. Your goal is to understand how real users interact with your MVP, how they use its features, and what they want next.

By focusing on user behavior, you can determine whether your assumptions about the market and your value proposition are correct. If users aren’t engaging with certain features, you know what to eliminate or improve. If they love a specific feature, you can double down on that in future iterations.

Defining Essential Features

One of the biggest challenges of building an MVP is knowing what features to include and what to leave out. It’s easy to get carried away with adding too much too soon. At Launch Pilot, we define the essential features—those that directly solve the core problem and add value to your users. Every other feature can wait for later versions.

This approach helps you maintain focus and ensures you’re not spending valuable resources on features that your users may not even want. The goal is to build the minimum viable product that meets the minimum amount of user expectations, but leaves room for growth.

The Power of Iteration

The MVP isn’t the end—it’s just the beginning. After gathering feedback, you’ll need to start iterating. The lean startup methodology is all about releasing, learning, and refining. The first version of your product should never be the final version.

By iterating based on feedback, you can minimize risk and ensure that every update to your product is moving it in the right direction. As Frank Robinson, the creator of the term MVP, once said, “Minimum means that it is the smallest amount of effort you can put into a product to start learning.”

Launching with a Landing Page

Before you even build your MVP, consider testing the market with a landing page. A landing page can be a simple site where you describe the product idea and collect emails or pre-orders from interested users. This can be an invaluable way to validate the demand for your product before you’ve written a single line of code.

Many successful companies have used this strategy. For instance, Buffer tested their MVP concept by launching a simple landing page explaining their product and allowing users to sign up for more information.

Handling Leadership Pushback

Sometimes, leadership may feel that your MVP timeline is too conservative. In those cases, it’s important to explain that the MVP is just the beginning of the process, not the end. When you’re handed a tight deadline, often it's only for a specific phase—such as completing development—rather than the full product release. Be clear about what’s involved after that phase, including user testing, feedback analysis, and additional development.

Pro Tip: When you’re given a deadline, clarify the distinction between finishing development and completing the entire product development cycle. Leadership needs to understand that a product's completion doesn’t just happen when the coding is done—it happens when the market has validated it.

The Role of Product Managers

While project managers keep things on track, product managers focus on making sure the right product is being built. They’re responsible for defining the MVP strategy, identifying the core features, and managing the product development cycle. Involving a product manager early in the process ensures that your MVP aligns with your overall business strategy.

Lean Startup Methodology in Action

The lean startup methodology focuses on getting your product to market as quickly as possible while maximizing learning. By using the least amount of time and effort to build your MVP, you can reduce wasted resources and ensure that your product evolves based on customer feedback.

Validate with Real Users

One of the most powerful aspects of an MVP is its ability to gather useful feedback from real users. These users will help you validate your product hypothesis and give you a clear sense of what’s working—and what’s not.

For example, if you’re testing an MVP for a new app, you might find that users love one feature, but ignore another. That’s valuable data that will guide your next steps.

Keep Your Eye on the Market

Even with a great MVP, it’s important to keep an eye on your market share. Competitors may pop up, or market trends may shift. By keeping a close watch on the industry, you can adjust your product development strategy and ensure you stay ahead of the curve.

Final Thoughts: Launch Your MVP with Confidence

The key to a successful MVP is balance. You want to build a product that delivers real value to users while minimizing the resources required to get there. At Launch Pilot, we specialize in helping you strike that balance, ensuring that your MVP approach leads to market success without unnecessary risk.

By focusing on customer feedback, iterative development, and a lean startup approach, you’ll be well on your way to building a product that users love.

So, are you ready to turn your product ideas into reality with an MVP? Schedule a consultation with Launch Pilot today and let’s take your MVP from concept to launch!