Minimum Viable Product (MVP)
A product with just enough features to be usable by early customers who can then provide feedback for future product development.
Impact
Using MVPs reduces the risk of building a product that nobody wants. It favors "learning" over "perfection."
Weinto take
MVP is often misused as an excuse to ship buggy, low-quality code. We prefer the term "Minimum Lovable Product". It can be small, but it must be solid. If your MVP crashes or leaks data, you haven't validated the market; you've just failed execution.