As a developer, I can almost assure you that you have worked on many projects on your own that you have spent countless hours working on, and in the end, none of those projects have seen the light, or even worse, you have worked for months on a project, and you have finally launched it, but no one used it, and no one seemed interested in it.
The MVP methodology (Minimun Viable Product) consists of building a product (SaaS, Plugin, App ...) that contains the minimum features required to be a viable customer solution.
The purpose behind starting with an MVP is to test if there is a demand in the market for your product and if there are customers who need it (Product Market Fit) before committing to building a fully featured product.
With this approach, you can launch your product faster, and figure out what works and what doesn't and more importantly what the market expects from your product.
After launching the product and getting some user interactions, you can now be able to determine which features you need to prioritize, and which bugs need an immediate fix, otherwise, you will be dedicating your time and resources to adding features that nobody needs or care about.
Not only that, but you will be able to determine how to expand to a broader market.
Amazon started as an online shop for selling books, and then it gradually expanded into selling other things, therefore expanding its market.
Also, Facebook started for college campuses (and they initially started only in Harvard) with only 8 features, while other competitors had more features and a broader market, Facebook focused its effort on improving the experience for its initial audience, and gradually expanding its market, and building features accordingly.
If you take a closer look at this approach, you will find out that in the end, it's about time and energy management, because this approach aims to make sure that you are putting your time and energy into things that matter, instead of relying on your assumptions.
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