Define Minimally Viable Product (MVP) or Service

Why is this Important? The MVP is the simplest version of your product that can be used to iterate on your assumptions. It is the most basic version of the solution you are proposing.

Key Actions Things to Consider Tool Kit
Determine the simplest product that will be commercial viable The MVP should solve the unmet need and be capable of generating easy to understand evidence of this

Examples Include:

  • Storyboard presentations
  • Wireframes
  • Preliminary mockups

Do not overly complicate the product at this point – an overly complex product can:

  • Extend the development time
  • Increase the cost and time to get a product to market

Try to get a product to market as fast and inexpensively as possible

Make sure your provisional patents cover the MVP