{"id":6069,"date":"2020-01-27T09:47:34","date_gmt":"2020-01-27T07:47:34","guid":{"rendered":"https:\/\/www.dazzlepop.net\/site\/?p=6069"},"modified":"2020-01-27T09:47:38","modified_gmt":"2020-01-27T07:47:38","slug":"entrepreneur-101-what-to-know-about-mvps","status":"publish","type":"post","link":"https:\/\/www.dazzlepop.net\/site\/entrepreneur-101-what-to-know-about-mvps\/","title":{"rendered":"Entrepreneur 101: What To Know About MVPs"},"content":{"rendered":"
\"Entrepreneur<\/div>\n

Entrepreneur 101: What To Know About MVPs <\/h3>\n\n\n\n

A Web designer<\/a> creates a MVP<\/a> for a mobile application<\/a> project.GETTY<\/p>\n\n\n\n

Although \u201cMVP\u201d used to be only a sports term (most valuable player), it\u2019s 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)? <\/p>\n\n\n\n

It\u2019s 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\u00a0one of the first to make use of the term. Another early adopter of the phrase was Eric Ries, author of\u00a0The Lean Startup<\/em><\/a>. Both he and Blank agree that a company should view an MVP as an experiment, one that assesses how customers will receive an idea.<\/p>\n\n\n\n

\"Entrepreneur<\/figure>\n\n\n\n

\u201cIt lets you know whether you\u2019re making progress and to decide whether you need to pivot,\u201d Ries adds.<\/p>\n\n\n\n

And it can take a variety of forms\u2014from \u201ca product or service to developing your company\u2019s policy on volunteering or even setting up a new federal government agency,\u201d explains Ries. <\/p>\n\n\n\n

Blank points to a moment when a group of his Stanford students were building a drone meant to fly over farm fields to measure water and fertilizer use. The students, who later went on to develop the product beyond the classroom, were surprised to find out that Blank\u2019s suggestion for an MVP was as simple as a spreadsheet showing farmers, their target market, the data generated from the drone research. They could use this spreadsheet, Blank explained, to gauge whether or not the product would be of interest to these potential customers.\u00a0<\/p>\n\n\n\n

\u201cIf you\u2019re thinking about just building the product as envisioned, you get stuck thinking that an MVP is a prototype of the product,\u201d says Blank.\u00a0<\/p>\n\n\n\n

Read more: https:\/\/www.forbes.com\/sites\/briannegarrett\/2020\/01\/14\/entrepreneur-101-what-to-know-about-mvps\/#39362db15855<\/a> <\/p>\n","protected":false},"excerpt":{"rendered":"

Entrepreneur 101: What To Know About MVPs A Web designer creates a MVP for a mobile application project.GETTY Although \u201cMVP\u201d used to be only a sports term (most valuable player), it\u2019s taken on new life as part of the lexicon of entrepreneurs getting something new off the ground. But what exactly is an MVP (minimally […]<\/p>\n","protected":false},"author":3,"featured_media":6072,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_vp_format_video_url":"","_vp_image_focal_point":[],"footnotes":""},"categories":[45],"tags":[31,238,237,415,414,413],"class_list":["post-6069","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-business","tag-entrepreneur","tag-forbes","tag-mobile-application","tag-mvp","tag-web-designer"],"yoast_head":"\nDazzlepop | Entrepreneur 101: What To Know About MVPs<\/title>\n<meta name=\"description\" content=\"Entrepreneur 101: What To Know About MVPs Although \u201cMVP\u201d used to be only a sports term (most valuable player) it\u2019s taken on new life as part of the lexicon\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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