A minimal product, or minimum viable product (MVP), is the simplest version that can be deployed to test a value proposition with users or customers. It converts an idea into evidence about demand, execution, and business potential. section 12.1.1 section 12.1.2
Use an MVP to distinguish an attractive idea from an investable early-stage business:
- At pre-seed, use it to demonstrate that the product has potential and to support funding discussions. section 12.1.1 section 12.4
- At seed stage, look for first customers, additional capacity, and evidence that the MVP can be replicated at scale. section 12.1.2
- Treat the MVP as evidence to evaluate alongside the founders, business model, market, and execution ability—not as a guarantee of success. section 12.1.2 section 12.4
Fred and Lin’s start-up
Fred programs the backend and business logic while Lin develops the frontend. Their MVP requires expenses such as cloud services, marketing, and sales, forcing them to decide how much funding they need and what investors receive in return. section 12.1.1
