MVP stands for Minimum Viable Product. This is an important concept in the software world. What you do is design your software, thinking of all the possible features. You then strip it back to the bare essentials. What is the “minimum” product we can build, that has the value we need? The value depends on what you must achieve from the product – for example the minimum might be that it has certain important functionality and allows it to be bought online with a credit card. However you might decide that allowing customers to buy “on account” is not necessary from day one. Therefore if it is not critical, do not build it. Then you end up with a leaner product, costing less, and available much sooner. Then you get feedback and really start to understand what people want out of the software. You might find out nobody wanted to buy it on account after all. If you try to think of – and include – every possible feature up front, it takes far longer to build, which costs a lot more of course, and it simply delays getting it live, in use and bringing value to your organization. Find out more about our software consultancy services.