Comment on How much money do you really need to start your company?parentComments−petervandijck14yHow do you mean you haven't found a good MVP yet? (Just trying to parse that.)−ghc14yIn entrepreneurial circles, MVP commonly stands for Minimum Viable Product. This is the smallest set of features your product needs to be viable as a business.−petervandijck14yYes, but it's not something you find, it's something you build. Which is why I asked. It looks like he meant "we haven't found market fit yet".−sarbogast14yIndeed you are right. That is what I meant. And building a product that reaches market fit takes some time and quite a few iterations.−sarbogast14yWhat I call a "good MVP" is a product that fits a market, something people want and are willing to pay for.−petervandijck14yYou should probably say "market fit" then.
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How do you mean you haven't found a good MVP yet? (Just trying to parse that.)
In entrepreneurial circles, MVP commonly stands for Minimum Viable Product. This is the smallest set of features your product needs to be viable as a business.
Yes, but it's not something you find, it's something you build. Which is why I asked. It looks like he meant "we haven't found market fit yet".
Indeed you are right. That is what I meant. And building a product that reaches market fit takes some time and quite a few iterations.
What I call a "good MVP" is a product that fits a market, something people want and are willing to pay for.
You should probably say "market fit" then.