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Entrepreneurship and MVP Examples Blog

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Questions and Answers

What is an MVP or Minimum Viable Product?

The most basic version of a product that covers fundamental components and features to satisfy end-users' needs.

Who popularized the idea of an MVP?

Eric Ries through his book 'The Lean Startup' in 2011.

How does an MVP differ from just creating the smallest, cheapest product in the shortest time possible?

An MVP is a stage where the product is exciting enough for customers to use and pay for, not just a quick, cheap solution.

When was Twitter launched to the public?

July 2006 Signup and view all the answers

When did Twitter hit the 100 million user mark?

September 2011 Signup and view all the answers

What was Twitter's initial purpose when it started as an SMS service at Odeo?

To help a group of people communicate. Signup and view all the answers

What does MVP stand for in the context of entrepreneurship?

Minimum Viable Product Signup and view all the answers

In what year was the iPhone, considered as one of the most popular MVP examples, launched?

2007 Signup and view all the answers

What is the primary reason why entrepreneurs love MVPs?

To reduce the risk of failure and save on business costs. Signup and view all the answers

What key loop do businesses follow when creating an MVP startup?

Build-Measure-Learn loop Signup and view all the answers

What major limitations did the original iPhone have when it was first launched?

It could not copy and paste, show notifications, had limited apps, and could not connect to an exchange server back-end. Signup and view all the answers

What significant development changed the potential of the iPhone and made it more functional?

The introduction of the App Store. Signup and view all the answers