If your business revolves around a product, either physical or digital, you might assume a fully functional prototype is needed in order to test it with your target market. But this isn’t true. Instead, you should develop a product with the least amount of functionality and polish possible that still gives people a good idea for what it will do.
It doesn’t need to be pretty, and it doesn’t need all of the bells and whistles. It just needs to work well enough to show it off to get feedback.
A minimum viable product is indeed a cost-saving measure, but it’s also the most efficient way to develop a product because it lets you get it in front of people as quickly as possible. You can test basic ideas rapidly, and then refine your designs, iterating frequently and altering your designs to fit your customer’s desires.
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