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Minimum viable products can hedge a startup risk

Developing a minimum viable product to prove a business model concept  is an essential element of the lean startup approach.

And building such prototypes have two major objectives:

  • Learning what problems should be solved
  • Drive risk out of the business model

In this article, N. Taylor Thompson explains the benefits of developing both validating and invalidating minimum viable products to better hedge the new product acceptance risk.

Sources:

Building a Minimum Viable Product? You’re Probably Doing it Wrong

How to Test Your Minimum Viable Product

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