SFS Minute 704: MVP Defined

We are working our way through every single thing. You need to know about starting a low risk business and this week, we worked our way up to the MVP not the sports, most valuable player but something very different. I'll explain what it is. The MVP in the business world came from the software industry where they realized that they could launch a minimally viable product to test the marketplace and to get customer feedback, it didn't have all the bells, and whistles, it had one out of only 10 playing functions, but that's all it needed to get launched. And I want you to think of it this week though, as beyond just software, any testing you do, before you launch will help you get out in the marketplace and get data. My first business started for 700 in an idea, on a sheet of paper.