Minimum Viable Product (MVP)

A prototype is a mockup you use to explore or demo an idea, often not functional. An MVP is a real, usable product, however small, that you put in front of customers to learn whether they will adopt and pay. One explores; the other tests demand.

Not always revenue, but it should test willingness to pay or strong engagement. The leanest MVPs do charge, because money is the strongest signal. If your MVP cannot test value, it is just a small build.

As little as possible. Many strong MVPs cost almost nothing because they are manual, faked, or just a landing page. If your MVP needs months and a big budget, you have probably scoped it too large.

Only the single feature that delivers the core value and tests your riskiest assumption. Everything else is a distraction. The question to ask: what is the smallest thing that proves people want this?

It can be a valid demand test (a smoke test), though strictly it tests interest, not the product experience. It is often the right first step before building anything. Pair it with a pre-order or waitlist to sharpen the signal.

Building too much. Founders treat "minimum viable" as a small version of the full vision and spend six months on it. The point is to learn fast, so cut until it almost feels uncomfortable.