Although “MVP” used to be only a sports term (most valuable player), it’s taken on new life as part of the lexicon of entrepreneurs getting something new off the ground. But what exactly is an MVP (minimally viable product)?
It’s a very early-stage version of a product or concept that gives startup entrepreneurs crucial feedback that they can use to further develop and improve their brainchild. Entrepreneur, author and Stanford University adjunct professor in the department of management science and engineering Steve Blank was one of the first to make use of the term.
