By Jayna Curran and Christine Demane
Companies and technology development teams are attracted by the potential of developing a minimum viable product (MVP) to realize value—for example, accelerating cost savings or delivering innovation that wins new customers before competitors have the chance to do so. An MVP approach focuses on introducing something “good enough” in the short term, with the understanding that the organization can build upon and improve it over the longer term.
Some organizations struggle to execute this concept effectively. One reason is that they fail to ground the definition of the MVP in customer experience. Another common pitfall is that as implementation progresses, teams lose their focus on speed to market and instead fall back on the tendency to build the “perfect” solution or product.Organizations that use the MVP concept successfully do have some common characteristics, including a clear sense of purpose, customer first orientation, open participation, flexibility, and a product mindset rather than project mindset. At the very core, teams and stakeholders understand that the MVP is the start of the journey, not the destination. This mindset enables them to get beyond the barriers and drive value faster than ever.
Read this white paper to learn:
- How leveraging a “minimum viable product” can help your organization accelerate innovation to win customers
- Techniques for overcoming two common MVP pitfalls
- Six insider tips from organizations that employ the MVP approach to successfully mobilize their organization