#Minimum #Viable #Product: Exploiting #potential while minimizing #risk
Many #startups spend years fine-tuning a product #idea, working out a #marketing #concept and #investing a lot of money in production: then they present the finished product to potential customers. However, if the #target group reacts with disinterest, the young company quickly disappears into oblivion. Because without #sales, the money invested cannot be recovered. Those who have invested their entire assets are then faced with ruin. Smart founders, therefore, take a different approach: they start with a minimum viable product (#MVP).
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