Minimum Viable Product (MVP) by Hong Kong Movie

by Hanson Cheung, Hong Kong Movie

All good product design teams are good at rapid prototyping and skills like minimum viable product (MVP) development. These are crucial skills because startups are all about survival. We need to quickly come up with products that the market can see, the market can experience so as to help up to find the product market fit as soon as possible.

For those of you who are not familiar with the startup jargons, a minimum viable product (MVP) is a concept from Lean Startup that stresses the impact of learning in new product development. Eric Ries, defined an MVP as that version of a new product which allows a team to collect the maximum amount of validated learning about customers with the least effort.

A diagram representation will be something like this:

Product/market fit means being in a good market with a product that can satisfy that market. Many people interpret product/market fit as creating a minimum viable product that addresses and solves a problem or need that exists.

In this article, we have invited the product manager of Hong Kong Movie, Hanson Cheung, to share with us the process he goes through to come up with MVP ideas, quickly develop and launch it, and measure if this is a worthy product idea to go ahead.