What is MVP
MVP (Minimum Viable Product) is a minimum viable product with one core feature that solves a real user problem. The goal of an MVP is to validate the hypothesis of market willingness to pay, spending minimum money and time.
Definition
MVP is not a cut-down version of a future product. It is an experiment. If an MVP doesn't find paying customers or active users within 1-3 months after launch, the hypothesis is disproven and direction must change (pivot). If it does — there's a foundation for further development (Product-Market Fit).
How It Works
Standard MVP flow: 1) Define one core feature and one user role. 2) Use off-the-shelf solutions (Stripe for billing, Clerk for auth, Vercel for deploy). 3) Build in 6-12 weeks with a 2-3 person team. 4) Launch with minimal marketing. 5) Collect metrics: signup rate, retention, activation, conversion to paid.
When to Use
MVP approach fits any time you build a new product and aren't sure of market willingness to pay. This is the default strategy for startups and new directions in existing companies. Better to spend $20k on MVP and learn it doesn't work than $200k on a fully-featured product.
When NOT to Use
MVP does not fit when: you're building an enterprise product for a specific client with a signed contract, regulated industry requires a minimum function set (banking, healthcare), or the technology is too new for production without a full flow.
Related Terms
What is SaaS
SaaS (Software as a Service) is a software distribution model offering products on a subscription basis. Users...
Read more
What is IT Outsourcing
IT outsourcing is the delegation of software development, support, or implementation tasks to an external IT c...
Read more
What is a RAG System
RAG (Retrieval-Augmented Generation) is an architectural pattern where an LLM (GPT-4, Claude) first retrieves ...
Read more
What is RWA Tokenization
RWA tokenization (Real-World Asset tokenization) is the process of converting physical or financial assets (re...
Read more
Related WIZICO Services
Frequently Asked Questions
Need help with your project?
Our engineers will review your idea and propose the right approach — outsourcing, outstaffing, or SaaS development.