Question
What is an MVP (Minimum Viable Product) and why is it important for startups?
Answer
An MVP is the simplest version of your product or service that can be launched to a real audience to gather feedback and validate your core idea. It's crucial because it allows entrepreneurs to test assumptions, learn from customer reactions, and iterate quickly without investing excessive time and money into a product that might not resonate with the market.
From Sandeep Maheshwari: How to Start Your Business in India by Sandeep Maheshwari
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