This articlewas written byNick Babichand originally published onBuilt In.
So how do you minimize the risk of product failure?
The answer is simple invest time building a minimum product to validate the product with target users.
Today, creating an MVP (minimum viable product) is an essential part of many teamsproduct design strategy.
An MVP is not the only jot down of minimum product that product teams can make, however.
The MLP, or minimum lovable product, represents another concept that is becoming popular among product designers.
If youre working in product development, you may wonder what approach you should follow.
Should you build MVP or MLP?
Lets dig in and see what each path offers to make it answer that question.
What is an MVP?
The goal of this testing is to understand whether the original vision for the product was correct.
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Key characteristics
Well-designed MVPs share the following characteristics:
View the MVP as a solution to usersproblems.
Therefore, conducting user research to understand user needs and wants and building proper product characteristics is vital.
Advantages
The cost and time involved in creating the product are two significant advantages of an MVP.
Since it contains only a bare minimum of features, it should be very cheap to produce.
For the very same reason, it also shouldnt take much time to design an MVP.
These advantages empower product designers to test and validate various hypotheses in a short period.
What is an MLP?
An MLP, or minimum lovable product, is an evolution of the MVP concept.
And that happens when products not only meet usersneeds but also delight them.
An MLP is designed to be appealing.
Appealing doesnt necessarily mean creating a beautiful user interface, though.
Instead, it means developing products that users will enjoy interacting with.
The goal is to get a positive reaction from their interactions with a product.
For example, you could use visual styles that you think your target audience will love.
Generally, creating an MLP takes more time than an MVP.
To build an MLP, you first need to find out what features your target users love.
As a result, production costs for an MLP will be higher than for an MVP.
MVP OR MLP: WHICH IS BETTER?
Should I go for an MVP or an MLP?
is a common question among product designers.
If you have time and budget, its always better to raise the bar from viable to lovable.
Because when a product is lovable, it gives you additional competitive advantages.
But what to do when you dont have enough time or budget for a full MLP?
Keep in mind that the features are evaluated from a customer perspective.
