An MVP is the most basic version of the product that delivers value to users and the best way to figure out what users wantBuilding an MVP lets an entrepreneur view how real users interact with the product without blowing the budgetAn MVP helps an entrepreneur to see the genuine market need for their product before investing much time and resources into itMistakes made in the Planning stage can snowball into bigger issues later on, therefore the target audience should be clearly definedKeep an MVP simple and focused, and the user experience should not be an afterthoughtIn the development stage, entrepreneurs need to consider how their product will scale if it catches onDuring the Refinement stage, entrepreneurs should prioritize what needs fixing to test thoroughly and roll out updates that improve the productThe purpose of the MVP is for learning, adapting, and growing smarter with each stepThe best products come from refinement through constant tweaking and real-world feedbackEntrepreneurs should track metrics to measure how every change impacts a product’s performance