Let me paint you a picture of the purpose of a minimum viable product, or MVP for short. You come up with an amazing idea for a new product – let’s call it a Thingamajig. You spent 12 months creating the Thingamajig, correcting each bug, and creating features for every possible intended use case that a potential customer may have. Finally the big day comes and you add a “Download a Thingamajig” button to your website, and what happens? No one downloads. You’ve just spent 12 months of your life building a product that no one wants.
An easy way to solve this problem would have been to build an MVP. In this case, you could have made the button “Download a Thingamajig” first, wait to see how many people click, and then start designing the product. Design the product with one, maybe two basic features and see what the customers are asking for. In other words, a minimum viable product is a product that has the bare minimum amount of functionality necessary to serve a purpose. From there, listen to your users feedback and iterate the product accordingly.