MVP: Minimum viable product
When you set out to build a MVP , this happens:
Brainstorm a product or idea, document the scope and MVP
You build a MVP for your company
release to market
get feedback and
improvise on it further.
But there’s a catch here or pitfalls in this model.
You cannot apply this model to companies or startups of all sizes. This is probably applicable to a few scenarios where there’s tight money situation.