Do you have a product ready to launch? Would you release it to the market already or tweak it a bit more? How much is enough? How long is it too late? Go Lean, think Minimum Viable Product. As someone said, “An MVP is a down payment on a larger vision”. Prasanna Krishnamoorthy, founder of Upekkha shares the idea of Minimum Viable Product and takes us a step ahead with his own Minimum Billable Product.
Why does this term pop up often from start-up experts? What is its importance in the current ecosystem?
MVP stands for Minimum Viable Product. It is a basic version of the product with all core necessities covered, made available to selected customers. This strategy showcases customer appeal towards the product and helps us avoid unwanted features.
The MVP technique is vital in knowing customer feedback. Moreover, it helps us in getting to know our product better and improvise it. Besides, it paves the way for marketing and waste reduction.
In this video, Prasanna Krishnamoorthy illustrates to us what is MVP and how beginners should visualize it. He is Partner in Value Saas Catalyst firm Upekkha. He enjoys coaching young entrepreneurs and worked with Microsoft Accelerator. Moreover, he also authored various articles on start-ups, product management and crafted frameworks for product-market fit.
This video is part of the Start-up 101 series, a handbook for all your start-up questions. They are a series of crisp, straight to the point solutions to all the possible queries. Here our start-up Gurus strengthens your basics, before maneuvering your way through nuances of startups.