Oh, Lordy - how the corporate world loves an acronym!
MVP = Minimum Viable Product.
Still none the wiser?
MVP was first coined at the start of the Lean Startup movement, which is a methodology for starting up businesses based on rapid prototyping, testing customer feedback, and data analysis.
The theory is the process minimises precious time and resources by focusing on what the customer wants rather than creating features that aren’t required or desired.
Of course, this is a great plan to follow for anyone starting up a business, as it has been found to reduce risk, speed up the time it takes to get to market, get laser focused on the needs of the customer, and generally reduce the overwhelm often experienced by entrepreneurs who try to get all their ducks in a polished, gleaming row before telling the world about their product or service.
But if you’re not a suited and booted city slicker, can you casually throw around the term “I’m working on my MVP” at the dining table, and impress your Aunty Carol?
Hell, yeah you can!
The concept can be used in your personal life, too, particularly for when you’re setting goals or aiming to cultivate a new habit. Of course, you have to do some mental gymnastics here as you’re both the seller and the buyer, but you’ll get the gist:
- Think of Goals as "Products": Imagine your desired outcome (regular date nights, fat loss, better sleep etc) as a product you want to "build" for yourself.
- Start Minimal: Don't overwhelm yourself with drastic changes. Begin with a minimal version of the habit or behaviour you want to integrate. Small changes really do add up over time (and dragging your partner out for the fifth time in a week when they really want to binge watch a box set could be counterproductive).
- Focus on Core Benefit: Identify the key benefit you want to achieve. For example, if your goal is better sleep, it’s not that you want to spend more time in bed necessarily, but you probably want increased energy levels. Similarly, don’t take your partner out for a posh meal and then doom scroll on your phone all night. Your goal isn’t iPhone removal from your colon in A&E.
- Experiment & Iterate: Start by implementing the minimal version of the habit and track its impact. Did it deliver the core benefit? Refine and adjust as needed based on your experience.
It won’t be long before you feel so confident you’re on the right track that you whip out a spreadsheet after pudding, and wow Aunty Carol with your stats.
Of course, journaling is really useful for tracking feedback from your “customer”.