OP/Ed
Validating a Business Model for a Minimum Viable Product – December 2014

Validating a Business Model for a Minimum Viable Product – December 2014

As an entrepreneur, you have gone through the challenges of outlining a business opportunity
and have understood your target customer’s unarticulated needs. In addition, you have done the market research and analysis to define a preliminary market requirements document leading to a
preliminary product requirement document. These are relatively simple processes that lead to a minimum viable product (MVP) definition. The intent is to move rapidly and frugally to a point
where you can test your product and its fit against the latent market needs as well as understand whether your original business concept can make money at the scale envisioned or whether it requires changes in direction, strategy, or technology.
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