How should we define MVP?

A million dollar question every product manager faces, “how should I define Minimum Viable Product (MVP)?” As a PM, I always like to think about how can I design my product so that I can make it Most Valuable Product with minimum efforts?

I face following questions when I think about MVP every time:

  • There is a higher bar for quality now than ever before. It means I can not compromise on quality and performance. If that is the case how should I consider quality, performance and all functional requirements in a given timeframe?
  • Dictionary meaning of ‘Viable means: capable of working successfully; feasible. But what does ‘Viable’ means in MVP? Is its development cost, is it possible to build the product or is it usage by customers?
  • What are the essential requirements should I consider?
  • Is there a way I can capture customer feedback before I build MVP?

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