Minimum Viable Product (MVP) vs. Exceptional Viable Product (EVP): A New Paradigm in Product Development

In the fast-paced world of startups and product development, the concept of the Minimum Viable Product (MVP) has been a guiding star for many entrepreneurs and innovators. Philippe Roche, in his comprehensive MVP guide recommended by industry veterans like Eric Ries and Guy Kawasaki, lays out a framework that challenges the traditional notion of MVPs.

The guide emphasizes not just viability but also the quality of the initial product offering, introducing the concept of an Exceptional Viable Product (EVP).

The Flaws in Most MVPs

Traditionally, MVPs are seen as the bare minimum product necessary to be released to gain initial user feedback. However, this approach often leads to products that:

1. Offer Only a Sneak Peek: MVPs are often incomplete representations of the envisioned final product.
2. Require Numerous Iterations: They frequently need significant improvements post-launch to meet user expectations.
3. Prioritize ‘Minimum’ Over ‘Viable’: Many MVPs focus more on minimizing resources and time instead of ensuring product viability.

The EVP Approach: Elevating the Standards

Roche’s guide advocates for a shift towards an Exceptional Viable Product, which should:

1. Generate Initial Traction: The product should be compelling enough to attract users from its initial launch.
2. Deliver Sufficient Value: It should provide enough value to retain its early adopters.
3. Be a Complete Product for Adjustment: Rather than a rough outline, the EVP should be a well-rounded product, ready for fine-tuning based on user feedback.

The Investor’s Perspective

From an investor’s point of view, a product’s initial form can be a significant indicator of its future success. If the MVP fails to convince the investors of its potential, it is unlikely to resonate with the target customers. Therefore, the emphasis should be on creating an EVP that not only meets the basic requirements but excels in delivering value and user experience.

Conclusion

The shift from MVP to EVP represents a significant paradigm change in product development. It challenges developers and entrepreneurs to raise their standards, focusing not just on launching a product but launching it right. While this approach may demand more resources and time initially, the payoff is a product that resonates better with users and stands a higher chance of success in the competitive market.

Do you agree with this approach? The transition from MVP to EVP could be the key to developing products that are not only viable but also exceptional right from their inception. This could lead to higher success rates for startups and a more satisfied user base, ultimately contributing to a more dynamic and innovative market landscape.