Tag: minimum viable product
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Product market fit
What is product market fit? 50% of startups fail because of a lack of product-market fit. What is product-market fit? When a product solves a customer’s pain point and adds the required value, it has achieved the product-market fit. In simple terms, the product is benefiting the customers to a level where they are ready…
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Minimum viable product (MVP)
Post the prototype stage in the product development process, the minimum viable product (MVP) is meant to test of product’s ability to solve a problem. Making hypothesis A startup is nothing but a solution to a problem of a customer. Naturally, the starting up process starts with finding a pain point of a customer/s. When…