During the development phase for new products and services, your best friend is the minimum viable product (MVP). The MVP is the core component of innovative corporate and product development methods. Instead of spending ages tinkering with fully perfected products and services, fast-track the design of an initial simplified version of the final solution. While this first version contains only the most basic features of the market solution, it should still be able to deliver added value to the customer.
The MVP can be in any of various configurations. While it may be in the form of an initial app design or a simple website, customer surveys and analyses are also conceivable options.
As soon as you have developed your initial design for the MVP, you need to gather customer feedback. Have customers and users try out your product. Collect their experiences and reactions. On the basis of this customer feedback, adjust your initial design and so improve the MVP. Usually, several such feedback loops are necessary before the first marketable solution is ready.
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